SAA scraps flights; SA Express business rescue; Business confidence in pre ‘94 hole; Denel; cheap SA shares
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In today's business headlines:
* SAA, which entered a form of bankruptcy protection in December, will scale back some of its domestic and international routes from the end of February
* The Johannesburg High Court has ruled that another state-owned airline SA Express should be placed into business rescue, but the airline is going to appeal against the ruling
* State owned entity, Denel has announced that it is at an advanced stage of exiting the greater part of its Aerostructure Manufacturing business and has put in place major steps to minimise job losses in the company
* South African business confidence had the worst start to a year since 1993. The South African chamber of Commerce and Industry’s Index measuring sentiment declined to 92.2 in January from 93.1 in December
* SA stocks may have become too cheap for investors to ignore and Old Mutual Investment Group is among money managers seeing an increasing number of attractively valued shares
* SAA, which entered a form of bankruptcy protection in December, will scale back some of its domestic and international routes from the end of February
* The Johannesburg High Court has ruled that another state-owned airline SA Express should be placed into business rescue, but the airline is going to appeal against the ruling
* State owned entity, Denel has announced that it is at an advanced stage of exiting the greater part of its Aerostructure Manufacturing business and has put in place major steps to minimise job losses in the company
* South African business confidence had the worst start to a year since 1993. The South African chamber of Commerce and Industry’s Index measuring sentiment declined to 92.2 in January from 93.1 in December
* SA stocks may have become too cheap for investors to ignore and Old Mutual Investment Group is among money managers seeing an increasing number of attractively valued shares
