Vernon Pillay

Digital Journalist, IOL Business

Tuks professor says the end to load shedding is 'unlikely'

Vernon Pillay and Theolin Tembo|Published

‘Minister of Electricity has admirable optimism but he’s also a master of spin’

Skilled South Africans are leaving the country, how many, why and where they are going to?

Vernon Pillay|Published

Over the last month, a number of reports have come out and have provided a critical evaluation of how many South Africans are leaving the country.

SA could experience a technical recession if interest rates remain high

Vernon Pillay|Published

The country could experience a technical recession if the South African Reserve Bank (Sarb) continues to keep interest rates higher than what is required.

South Africa’s four major banks could take a R53 billion knock due to credit losses

Vernon Pillay|Published

South Africa’s four major banks are projected to lose around R53 billion due to non-performing loans. This is due to the fact that their credit loss ratios are expected ...

SIU to investigate armed security contract corruption in the Free State

Vernon Pillay|Published

The Special Investigating Unit has been given the authority to investigate allegations of serious maladministration in the affairs of the Moqhaka Local Municipality ...

Sars wants R4. 8 billion from Sasfin Bank

Vernon Pillay|Published

The South African Revenue Service Commissioner said on Tuesday that it has instituted legal proceedings against Sasfin Bank.

Bitcoin has breached the R1 million mark in value

Vernon Pillay|Published

Bitcoin price has breached the $57,000 (R1,096,722) for the first time since December 2021 on Tuesday.

We have reduced load shedding by 600 hours so far - Ramokgopa

Vernon Pillay|Published

Minister of Electricity in the Presidency, Dr Kgosientsho Ramokgopa said on Monday that Eskom power stations have been able to reduce load shedding by around 600 ...

FedEx invests $350 million in a new hub in Dubai

Vernon Pillay|Published

FedEx Express said on Friday that it is expanding its footprint in the Middle East, Indian Subcontinent and Africa by establishing a hub at Dubai World Central Airport ...

Eskom chair calls for more private investment as the SOE made a loss of R24 billion

Vernon Pillay|Published

Mteto Nyati, the chairman of Eskom's board of directors said on Wednesday that South Africa’s energy sector needs more investment from private businesses.

Treasury is trying to toe the line as we face a stagnant economy

Vernon Pillay|Published

Anchor Capital said on Wednesday that National Treasury continued to toe the line between fiscal continuity, consolidation and declining revenues amid an increasingly ...

Budget 2024: Eskom has generated a loss of R24 billion

Vernon Pillay|Published

The National Treasury has disclosed that from 2022 to 2023, Eskom generated a loss of R24 billion.

Budget 2024: No VAT increase despite R56. 1 billion budget deficit

Vernon Pillay|Published

Treasury noted on Wednesday that tax revenue for 2023/24 is now expected to amount to R1. 73 trillion, which is R56. 1 billion less than expected in the 2023 Budget. ...

Godongwana should not touch personal and property taxes, says Seeff

Vernon Pillay|Published

Samuel Seeff, the chairman of the Seeff Property Group has called on Finance Minister, Enoch Godongwana to keep personal and property taxes unchanged as a bare minimum. ...

The rand hits the R19 mark against the dollar as Budget 2024 looms

Vernon Pillay|Published

The rand breached the R19 threshold when compared to the US dollar on Tuesday, as the markets and economy anticipate the fiscal policies Finance Minister Enoch Godongwana ...

Budget 2024: This is what the finance minister may introduce

Vernon Pillay|Published

In the lead up to the National Budget Speech, several financial institutions have made some predictions of what Finance Minister Enoch Godongwana will say and implement. ...

Relief for consumers as food inflation slowed down in December

Vernon Pillay|Published

The South African annual consumer price inflation, measured by the Consumer Price Index, reduced in December, easing to 5. 1% from 5. 5% in November.

Rand strengthens after good retail sales figures

Vernon Pillay|Published

The rand gained some strength against the dollar on Wednesday after positive December retail sales figures were released by Statistics South Africa.

Despite South Africa’s energy crisis, there will be an end to load shedding - electricity minister

Vernon Pillay|Published

Minister in the Presidency for Electricity, Dr Kgosientsho Ramokgopa said that despite obstacles, uncertainties and temporary setbacks, the end of load shedding ...

Peanut butter saga: Pick n Pay explains what really happened

Vernon Pillay|Published

Pick n Pay has given IOL News more details on the peanut butter issue in South Africa and why the company decided to recall its product from stores.

Good news for SA economy as retail sales rise by 2. 7 percent

Vernon Pillay|Published

Retail sales in South Africa grew by 2. 7% year-on-year in December, according to data released by Statistics South Africa.

BUDGET 2024: UNCRC calls on government to protect children as prices soar with inflation

Vernon Pillay|Published

The United Nations Committee on the Rights of the Child (UNCRC) said on Tuesday that it is urging government to ensure that children’s rights will not impacted by ...

Transnet on the mend? Strides made to end delays at our ports

Vernon Pillay|Published

Transnet is making strides to address the major backlog and infrastructural issues at our nation’s ports.

Peanut butter saga: What peanut butter is safe to eat?

Vernon Pillay|Published

The recall of several peanut butter brands in South Africa has led to many consumers asking what brands are safe.

Rand hits the R19 mark against the dollar, as markets react to Sona

Vernon Pillay|Published

The rand breached the R19 threshold when compared to the the US dollar early this week as the markets and economy continue to react to President Cyril Ramaphosa’s ...

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