timeslive.co.za business news headlines

Woolworths flags sharp drop in profit as shoppers spend less

Upmarket fashion and food retailer Woolworths says it expects to report a decline of up to 32% in full-year total headline earnings on weak sales as higher living costs continue to weigh on discretionary spend. Woolworths said on Wednesday headline earnings per share (HEPS) for total op
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31 Jul 2024

Possibilities open on early Agoa renewal, says trade minister Parks Tau

Minister of trade, industry and competition Parks Tau said while people in the US Congress were keen to assure South Africa that the African Growth and Opportunity Act (Agoa) will be reauthorised, the jury is out on whether this will happen before the US presidential election in November. <
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30 Jul 2024

Sanctions pending, FIC warns as it blames tardy law firms, estate agents for delay in greylist exit

The Financial Intelligence Centres (FIC) patience with firms that have failed to file risk compliance returns, particularly law firms and estate agents , is running out as the watchdog has accused the businesses of wilfully standing in the way of South Africas exit from a damaging international
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29 Jul 2024

End of tax loophole risks dimming Shein's IPO appeal, say investors

Moves by authorities in the EU and elsewhere to end tax breaks for low-value parcels threaten Shein's profitability and risk denting the fast fashion retailer's long-term attractiveness ahead of its planned stock market debut, said investors who focus on the sector. Shein, which sells $
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26 Jul 2024

Citrus growers reeling from floods call for assistance

The Citrus Growers Association (CGA) of Southern Africa is calling for support after severe flooding that has affected farming communities in Citrusdal, resulting in road damage that has cut the community off from the rest of the Western Cape. CGA chairperson and Citrusdal-based citrus
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25 Jul 2024

Shein to open pop-up store in South Africa to woo more shoppers

Fast-fashion giant Shein, known for its $5 (R92) tops and $10 R184) dresses, will open a pop-up store in Johannesburg in August as the online retailer aims to expand its brand recognition in the country. Shein, founded in China, and its rival Temu have aggressively expanded worldwide as
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25 Jul 2024

Nedbank wins Forrester's EMEA Customer-Obsessed Enterprise Award

Leading global market research company Forrester has named Nedbank Retail and Business Banking (RBB) as the winner of its 2024 Customer-Obsessed Enterprise Award for the Europe, Middle East and Africa (EMEA) region. Forrester's annual Customer Obsession Awards recognise organisations th
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19 Jul 2024

The Civilian Secretariat for Police Service is hiring

The Civilian Secretariat for Police Service serves as technical adviser to the police minister of SA. Its purpose is to provide efficient and effective civilian oversight over the SA Police Service for safer and more secure communities through community participation, legislation and policy deve
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05 Jul 2024

South African citrus growers to take EU to world panel as trade scrap sours

South Africas citrus growers and the government are escalating their challenge to the EUs measures against locally grown citrus imports, seeking two panels before the dispute settlement body (DSB) of the World Trade Organisation (WTO). This is according to a joint statement by the depar
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26 Jun 2024