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7 things you need to know today

1. Stocks rise on favourable geopolitical climate

South African stocks are set for more record highs after risk sentiment returned to the markets as investor appetite was buoyed by the rise in resources, financials, mining, retailers and banking stocks.

2. Bitcoin price soaring to new heights as institutional investors enter market

Bitcoin has soared to new heights in spite of an 800 percent rise in the dollar price of the cryptocurrency last year as new institutional investors enter the market.

3. Pandemic, load shedding puts brakes on local manufacturing

Recovery in the manufacturing sector is expected to slow further in early 2021 due to the Covid-19 second wave and the return of load shedding.

4. Supply chain managers want tighter controls to stem corruption

Supply chain managers have called for tighter controls in the sector after a survey found the industry was an enabler of corruption.

5. Amsa fires up blast furnace to meet expected jump in demand

ArcelorMittal SA (Amsa) on Friday said that it had restarted the second blast furnace at Vanderbijlpark Works ahead of schedule to support the local steel industry following Covid-19 lockdown restrictions.

6. Rand lifted by vaccine optimism

The South African currency firmed on the back of vaccine optimism as the health minister indicated that South Africa is set to received 1.5 million doses of the AstraZeneca jab over the next two months according to NKC Research.

7. Toyota ends 2020 with a strong performance in the bakkie market

Toyota South Africa Motors (TSAM) claimed its highest light commercial vehicle (LCV) market share in 2020, with its Hilux and Hiace vehicles taking 41.9 percent of an overall market that slumped mainly due to Covid-19 related restrictions.

BUSINESS REPORT ONLINE





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