South Africa plans to cut the state wage bill over the next three years to keep spending under control as the economy flags and it bails out the struggling state power utility.
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Garmin shares rallied 17% to their highest level in 11 years as demand for watches from outdoor enthusiasts helped fourth-quarter earnings beat the highest estimates.
EOH Holdings said two of its founders resigned in a board shake-up as CEO Stephen van Coller races against time to restructure the South African technology firm and calm investors and lenders.
EOH Holdings founder Asher Bohbot is stepping down from the JSE-listed IT services group’s board of directors, ending a source of potential conflict with newly appointed CEO Stephen van Coller.
A group representing top US mobile service providers disagreed with European and Asian counterparts over alleged security threats from Chinese equipment maker Huawei ahead of a conference that will highlight a US-Europe divide on the issue.
One of the world’s biggest website hosting providers, GoDaddy, will launch in South Africa next month.
The R100-billion debt support Eskom has requested from government is not nearly enough to return the struggling utility to sustainability, says Business Unity South Africa.
For Qualcomm, the largest maker of chips that run smartphones, 5G can’t come soon enough.
Finance minister Tito Mboweni is looking for a way to keep the country’s main power producer from sucking the life out of the economy.
Huawei Technologies’ founder Ren Zhengfei said “there’s no way the US can crush us”, according to an interview he gave to the BBC.