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THE SA BUSINESS sector has called for an urgent solution to the country’s electricity crisis, including accelerating the unbundling process and investment in the transmission grid, as crippling power cuts weigh in on activity. Eskom yesterday continued to implement stage 6 rotational loadshedding in the absence of the full plant maintenance staff complement, as wage negotiations resume today. Energy expert Professor Anton Eberhard, speaking on behalf of the National Business Initiative (NBI), said South Africa’s national grid was designed chiefly to take power from Eskom’s coal power stations, but now it needed to be reconfigured to connect renewable energy. Eberhard said investing in the transmission grid would help to stabilise the power supply and meet the growing electricity demands in South Africa. “A business case can be made for a…
The SOUTH African stock market saw its biggest monthly fall in June since the start of the pandemic in March, 2020, as the FTSE/JSE Capped SWIX benchmark followed global markets sharply lower. The index was -7.5 percent down month-on-month in June. The local bourse was holding up relatively well in the year-to-date, with strong commodity markets supporting the country’s terms of trade and low domestic equity valuations attracting flows as investors switched out of relatively expensive growth shares, Anchor Capital’s Peter Little said yesterday. However, the prospects of accelerated global monetary tightening started to increase the possibility of a slowdown in global economic growth, and there were few places for investors to hide in June – the local bourse was not one of them, said Little. Old Mutual Wealth…
IT DOES NOT rain for South African motorists and consumers, it pours. This follows a record high fuel price increase of more than R2 a litre for July, which sees the price of petrol breaching R25 a litre for the first time ever from tomorrow. The Department of Mineral Resources and Energy yesterday delivered the blow and announced the price of petrol for both 93 and 95 octane will increase by a massive R2.37 and R2.57 a litre from midnight, respectively. This means the price for 93 octane will rise from R23.93 to R26.31 a litre, while 95 octane will surge from R24.17 to R26.74 a litre. This is nearly R10 a litre more than a year ago. Diesel will increase by between R2.30 and R2.31 a litre to an…
Thousands flocked to Makhanda in the Eastern Cape for the celebration of all things music, art, theatre, dance and jazz, for the first time since the global Covid-19 pandemic hit our shores over two years ago. And the gods were smiling upon this festival, because the weather was beautiful for most of the 11 days, and load-shedding could not dampen the mood of the festival-goers and artists. The shows went on, even under candle light, and the artists delivered spectacular performances. The cherry on top came shortly before the festival started when the government announced the scrapping of the requirements on wearing of masks at events, but the happiest news was the removal of the 50% capacity for social gatherings and events. This meant additional seats were made available for…
Nasty C and Ami Faku stole the show at the HollywoodBets Durban July marquee, Boomtown. The two were the closing acts in a night that featured a star-studded list of performers at the marquee. Rapper Nasty C performed several of his biggest hits, including songs like King, Jack, Ye x4, and fan favourites Juice Back and Hell Naw. Ami Faku closed the show with a performance that had the crowd singing along to her biggest hits like Asibe Happy and Into Ingaw. The other performers were Shekinah, Sjava, Nelz, Culoe De Song, PH, Kevin Momo, Kyeezi, Mzulu the Maskandi King and Josiah De Disciple. Musician and producer Tresor, credited as an additional vocalist on several songs on Drake’s new album: Honestly, Nevermind – Currents, Down Hill, and…
Christian Bale is set to take an extended break from Hollywood after filming back-to-back movies. The Oscar-winning actor’s latest project, Thor: Love and Thunder, which is currently in cinemas will be followed by David O Russell’s period drama Amsterdam later in the year – but Bale is now planning to take a break from the movie business. He told Total Film: “I usually need quite a lot of time in between because I can’t spin on a dime. I’m very slow. But the way things worked out (because of the Covid-19 pandemic), I had to go straight from David’s film to Taika’s. It was like boom, boom. Straight to the other.” The two movies are very different and Bale insists he’s done enough work to last for a while. As…
