Star 2025-05-12

US President Donald Trump's administration is aiming to bring the first group of white South Africans to the United States via its refugee program as soon as next week, three people familiar with the matter said, a divisive effort given that Trump has been blocking refugee admissions from the rest of the world. The Trump administration aims to fly the initial cohort of about 50 Afrikaners into Washington Dulles International Airport in Virginia, two of the people said, requesting anonymity to share internal plans. The group would participate in a press conference at the airport and then board flights to their U.S. destinations, the sources said. The sources cautioned that their arrival had already been delayed a week and that the plans could change. As of Thursday afternoon, a charter…

Transnet Port Terminals (TPT) is shifting into a growth trajectory following the recent stabilisation of its business operations, as CEO Jabu Mdaki revealed at the Transport Forum in Durban on Tuesday. This rally comes after the terminal operator adopted a multifaceted approach, which is now beginning to yield significant results in the freight and logistics sector. TPT has earmarked a substantial R3.4 billion for new equipment acquisitions in the 2025/2026 financial year, demonstrating its commitment to modernising infrastructure and enhancing operational efficiencies. Key initiatives include a thorough review of loading cycles in the container sector, upgrading rail infrastructure and agricultural capacity at the Cape Town Multipurpose Terminal, and the anticipated delivery of a third tippler to Saldanha’s Bulk Terminal operations by October 2025. Historically, underinvestment in equipment alongside adverse weather…

This follows a welfare emergency currently unfolding at two of Daybreak’s breeder farms Workers at Daybreak Foods' farms have laid down a series of demands that centre on the immediate termination of Chief People Officer Tshepo Yvonne Mosadi's contract, alongside a comprehensive overhaul of the company's board and management structure. This demand comes as the Public Investment Corporation (PIC) on Friday injected a further R74 million into the embattled farming establishment in a bid to pay for outstanding salaries for April, buy chicken feed supplies, and for specific essential operational expenses. The R74m, which is part of the R250m financial support requested by Daybreak in February, was initially earmarked for capital expenditure. On Friday, the Daybreak Workers Union issued a letter detailing their demands and expressed deep concerns over past…

Mantengu Mining (MTU) has filed a criminal complaint with the Hawks against several executives of the Johannesburg Stock Exchange (JSE) regarding allegations of share price manipulation aimed at depressing its stock value, claims that the JSE has roundly denied. In a voluntary announcement on Friday, directors of the chrome miner said the filing of the criminal complaint followed about 18 months of investigative work by the company and its advisors. In response to questions from Business Report, the JSE said that the allegations directed at it, its employees, officers, and executives, were false and without merit. The JSE also denied any involvement in, or complicity with, illegal or unlawful activities. MTU had alerted the JSE to its concerns regarding the manipulation of its share price. The company claims the JSE…

Transnet and the United National Transport Union (UNTU) are gearing up for critical negotiations this week in an effort to stave off a potentially debilitating workers' strike. The discussions come on the heels of an unresolved wage dispute that has led UNTU to indicate that workers could legally embark on industrial action. Last month, negotiations between the two parties faltered, prompting the Commission for Conciliation, Mediation and Arbitration (CCMA) to issue a certificate of non-resolution. UNTU general secretary, Cobus van Vuuren, on Friday said that the CCMA convened an urgent Section 150 facilitated session on Thursday, 08 May, to address the ongoing salary and wage dispute between UNTU and Transnet at the Transnet Bargaining Council (TBC). “Recognising the strategic economic importance of Transnet and the potentially devastating impact of industrial…

Once again, US President Donald Trump is dominating global headlines—this time with economic policies that carry broad global consequences. His focus on aggressive tariff strategies has injected sharp volatility into markets, with abrupt sell-offs followed by relief rallies, reflecting the unpredictable nature of current trade dynamics. South Africa, deeply integrated into global trade networks, has not been immune. The South African economy faces both direct exposure and second-order effects from tariff-related tensions, particularly given that two of its largest trading partners are the United States and China. These developments have rattled investor sentiment and highlighted the structural vulnerabilities of an interconnected global economy. In such environments, traditional investment strategies often falter. Hedge funds, however, are uniquely positioned and well-equipped to thrive from such volatility. Their ability to employ active, tactical…