21-day lockdown, SA army to fight Covid-19; global economy in crisis; Old Mutual-Moyo; rand on ropes; Redefine
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In today's news headlines:
* South Africa is going into a 21-day national lockdown from midnight on Thursday. This was the announcement from President Cyril Ramaphosa, who said pharmacies, banks, petrol stations and grocers will remain open;
* Finance ministers and central bank governors from the Group of 20 nations joined an emergency call on Monday to discuss the fallout from the coronavirus pandemic on the global economy and work toward a joint response;
* Old Mutual has finally managed to get rid of its former CEO Peter Moyo, it seems. South Africa’s Supreme Court of Appeal has refused Moyo leave to appeal a decision overturning his temporary reinstatement and dismissing the case against his sacking in June, the insurer said;
* Looking at performance on the Johannesburg stock exchange, the big losers of the day were property stocks. The Redefine share price plunged a staggering 27% on Monday; and
* South Africa’s rand weakened at the start of the week, threatening to break through a lifetime low against the dollar as concerns over coronavirus infections and likely stricter measures weighed on already shaky sentiment, as stocks fell, says Reuters.
* South Africa is going into a 21-day national lockdown from midnight on Thursday. This was the announcement from President Cyril Ramaphosa, who said pharmacies, banks, petrol stations and grocers will remain open;
* Finance ministers and central bank governors from the Group of 20 nations joined an emergency call on Monday to discuss the fallout from the coronavirus pandemic on the global economy and work toward a joint response;
* Old Mutual has finally managed to get rid of its former CEO Peter Moyo, it seems. South Africa’s Supreme Court of Appeal has refused Moyo leave to appeal a decision overturning his temporary reinstatement and dismissing the case against his sacking in June, the insurer said;
* Looking at performance on the Johannesburg stock exchange, the big losers of the day were property stocks. The Redefine share price plunged a staggering 27% on Monday; and
* South Africa’s rand weakened at the start of the week, threatening to break through a lifetime low against the dollar as concerns over coronavirus infections and likely stricter measures weighed on already shaky sentiment, as stocks fell, says Reuters.
