Chief executives are increasingly looking to invest in expansion and business transformation as their confidence in the economy returns to pre-pandemic levels. And reforming the energy market to allow for the self-generation of electricity to 100MW without a licence contributed to the optimism, a latest CEO outlook survey shows. But this may take some time and Eskom’s latest round of load shedding is threatening to dampen hopes of a quick economic rebound.
The continuous, 24-hour load shedding cycle due to a series of simultaneous breakdowns at several of Eskom’s power stations comes just as we’re recovering from July’s violent unrests and tight lockdown restrictions. Restaurants especially have been dealt a double whammy from Covid restrictions and now rolling blackouts that are set to last until Thursday.
Seems like we just cannot catch a break!
Meanwhile, in the markets, tech stocks buoyed Asian markets, Bitcoin broke through $56,000, Brent crude is flirting with $84 a barrel and the rand starts the week flat at R14.95/$.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
Net closing in on PPE looters after SARS and Hawks execute surprise pincer movement – Daily Maverick
More than 100 countries you can travel to visa-free on a South African passport, as lockdown restrictions ease – BusinessTech
Former Mafia-linked banker Vito Palazzolo tells South African government: ‘I’m back, but I’m no threat’ – Daily Maverick
Global Business
Netflix taps Walmart in biggest push to sell goods tied to popular shows – Bloomberg
Evergrande punishes 6 execs who cashed out early on the company’s investment products while it faces a $300 billion debt – Business Insider
Ambani joins Bezos, Musk in world’s exclusive $100 billion club – Bloomberg
Markets
Asia markets mostly rise as traders keep eye on inflation – AFP
Oil continues multiweek gains as increasing fuel demand meets supply restraint – Investing.com
Stock investors fret supply chain woes could knock earnings – Bloomberg
Opinion/In-depth
The ins and outs of Jozi’s shelters for the destitute – Daily Maverick
How Evergrande’s rags-to-riches founder is trying to save his empire – Bloomberg
Explainer | China’s power crisis: why is it happening, how bad is it, and what if it continues into the freezing winter months? – SCMP
Multimedia
PODCAST | Ballot Box: Why is local government so bad? – News24
Cryptocurrency around the world – Newsy
A Thai restaurant hit by floods becomes a gastronomic Mecca – Euronews
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