CR on coronavirus: Don’t panic; Eskom targets Trillian; current-account deficit; Old Mutual, Rand
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In today's business headlines:
- President Cyril Ramaphosa urges the country not to panic as the first case of the coronavirus was identified in a man from Kwazulu-Natal who returned from a trip in Italy. Minister Zweli Mkhize outlined the steps the government is taking to limit the outbreak;
- The Rand fell by almost 2.5% against the US dollar after the first confirmed case of the coronavirus in South Africa, trading at R15.53 cents and R20.24 against the British Pound as analysts indicate that the markets are nervous with many questioning the ability of the government to deal with the outbreak;
- Eskom is going to institute liquidation proceedings against the Gupta companies, Trillian Management Consulting and Trillian Capital Partners in the North Gauteng High Court in an attempt to recoup money owed to it;
- South Africa’s current-account deficit narrowed to a nine-year low in the fourth quarter as outflows decreased; and
- Old Mutual, locked in a prolonged spat with its fired chief executive officer Peter Moyo, said earnings from its operations probably fell as much as 5%, weighed down by a stuttering local economy.
- President Cyril Ramaphosa urges the country not to panic as the first case of the coronavirus was identified in a man from Kwazulu-Natal who returned from a trip in Italy. Minister Zweli Mkhize outlined the steps the government is taking to limit the outbreak;
- The Rand fell by almost 2.5% against the US dollar after the first confirmed case of the coronavirus in South Africa, trading at R15.53 cents and R20.24 against the British Pound as analysts indicate that the markets are nervous with many questioning the ability of the government to deal with the outbreak;
- Eskom is going to institute liquidation proceedings against the Gupta companies, Trillian Management Consulting and Trillian Capital Partners in the North Gauteng High Court in an attempt to recoup money owed to it;
- South Africa’s current-account deficit narrowed to a nine-year low in the fourth quarter as outflows decreased; and
- Old Mutual, locked in a prolonged spat with its fired chief executive officer Peter Moyo, said earnings from its operations probably fell as much as 5%, weighed down by a stuttering local economy.
