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Siphelele Dludla siphelele.dludla@inl.co.za THE STOCKS and currency markets firmed yesterday on improved investor sentiment ahead of the crucial interest rates decision, but the global oil prices could put a damper on momentum. The rand strengthened by 0.7 percent to R15.15 against the US dollar by 3pm yesterday, its highest level in five days, on expectations that the SA Reserve Bank (SARB) will lift its repo rate to 4 percent at its first monetary policy decision of the year today. By 5pm the rand was bid at 15.19 to the dollar. The domestic currency also lifted as investors waited in anticipation of the Federal Open Market Committee outcome in which the Federal Reserve was expected to maintain a hawkish tone and confirm that interest rates in the US will…
Edward West edward.west@inl.co.za TELKOM SA’s share price slid 2.2 percent to R46.33 yesterday following a government announcement that the Special Investigating Unit (SIU) is probing the group’s disposals of its African businesses about 15 years ago. The probe has cast a pall over Telkom considering its share price has rocketed 216 percent since March 2020, earnings growth is strong – headline earnings are expected to rise in the year to end-March 2022, mobile user growth is robust and it is planning a listing of Swiftnet, its masts and towers business, on the JSE. The government owns 40 percent of Telkom and the Public Investment Corporation, which manages the Government Employees Pension Fund, 14 percent. Mike Gresty, a fund manager at Anchor Capital, said although he was…
Edward West edward.west@inl.co.za HARMONY Gold Mining said yesterday that production of the yellow metal had remained steady in the six months to end-December 2021 at 22 355kg (718 726 ounces) compared with 22 031kg produced during the previous six months period ended June 30, 2021. The mining group said in an update ahead of the interim results to be announced on February 28 that gold production over these specific periods was compared because they included a full six months’ production from Mponeng and related assets, whereas the same six-month period a year before included only three months’ production from Mponeng. Rand per kilogram costs for the South African operations remain broadly in line with what was originally guided at about R765 000/kg to R800 000/kg.…
Dieketseng Maleke dieketseng.maleke@inl.co.za IN AN EFFORT to reduce costs and maximise existing cash reserved for its Spanish Toral project, Europa Metals has announced that it has cut the salaries of three directors. The JSE-listed company said yesterday that the cost reduction programme started on January 1. “The company’s existing directors Myles Campion, Laurence Read and Evan Kirby have agreed to the deferral/accrual of 50 percent of their director remuneration (comprising consulting fees and/or salaries) in respect of the 2022 calendar year, with such accrued remuneration to then be settled via the issue of new ordinary shares,” Europa Metals said. Europa Metals chief executive Laurence Read said: “Our cost-cutting programme aims to ensure that our resources are directed as far as possible on project-related expenditure and existing operations, as well…
Kedibone Modise kedibone.modise@inl.co.za Actor and TV presenter Sivuyile “Siv” Ngesi announced his latest international gig. Speaking to IOL Entertainment, the Knuckle City actor confirmed he will star in the highly anticipated American historical film The Woman King. Fans and industry friends including Pearl Thusi, Thando Thabethe, Lorna Maseko, Thembisa Mdoda-Nxumalo and Khaya Dlanga congratulated Ngesi. Written by Dana Stevens and directed by Gina Prince-Bythewood, the movie stars Academy award-winning actress Viola Davis, who is also the producer. The movie also features Mzansi’s golden girl, the award-winning Thuso Mbedu and British-Nigerian actor John Boyega. No stranger to international stages, Ngesi has featured in global productions including Invictus, Mandela: Long Walk to Freedom and 24: Redemption. South African composer Lebo M composed the musical score and created five original songs for the…
Kedibone Modise kedibone.modise@inl.co.za SOMIZI Mhlongo has came out guns blazing, slamming cyberbullies. According to Mhlongo, these cyberbullies may have contributed to thespian Patrick Shai taking his own life. Shai died at his Dobsonville home on Saturday morning. He was 65. Though sources close to the family told The Star it was Shai's wife Mmasechaba who discovered the late actor hanging from the garage ceiling, family spokesperson Amogelang Mmusi declined to confirm the cause of death. Shai’s death came just days after a video of him challenging Cassper Nyovest to a boxing match in which he refers to the rapper as a “son of a b...h” went viral. Shai later issued an apology but even then trolls continued to bash him. In a video shared on his Instagram on Sunday, Mhlongo…
