Business

South Africa’s inflation rate rose to 5.4% in September, up from 4.8% in August - strengthening the case for the Reserve Bank to hold borrowing costs higher for longer.

JSE-listed food retailer Pick n Pay has delivered a disappointing set of financials for the six months ending August 2023, and it is blaming elevated load-shedding costs for constraining its ability to compete with its peers.

It has been an ‘open secret’ for a while, but global online retail and tech giant Amazon on Tuesday finally officially confirmed that it will be launching Amazon.co.za in the South African market in 2024. The move is likely to shake up the local brick-and-mortar and online retail sector.

The Automobile Association (AA) is predicting a slight decrease in fuel prices for November, based on unaudited mid-month data from the Central Energy Fund (CEF). The current data is indicating that ULP95 is set to decrease by around R1.97/litre and R1.92/l for ULP93.

The owner of Dunlop Tyres SA, Japanese giant Sumitomo Rubber Industries (SRI), is backing a R1.7 billion investment into the expansion of the local tyre production industry.

The Stellantis motor group has confirmed its intention to develop a greenfield manufacturing facility in the Coega Special Economics Zone in the Eastern Cape.

The Spar Group is the latest grocery retail chain to agree to remove long-term exclusive lease agreement terms at shopping centres, paving the way for greater competition in the local grocery retail market.

American multinational company Amazon Web Services (AWS) has opened its first international skills centre in Cape Town aimed at offering free cloud skills training to young people in the region.

Global food container and plasticware company Tupperware has placed its industrial property and head office in Brakpan, Gauteng, on the market for an undisclosed amount. This is as the group looks to dispose of its non-core assets amid liquidity concerns.