In the news today: Business confidence continues to drop, SAA needs another bailout to pay salaries, and the Ombudsman for Long-term Insurance urges full disclosure when buying insurance


RMB/BER index: Business confidence continues to drop

The business confidence index, compiled by Rand Merchant Bank and the Bureau for Economic Research at Stellenbosch University, shows that business confidence dropped from 34 to 31 in the final quarter of 2018.  READ MORE

SAA needs another bailout to pay salaries

SA Airways needs approximately R17bn in government bailouts or refinancing from banks in the next three months to continue operations.  READ MORE

Ombud urges full disclosure when buying insurance

The Ombudsman for Long-term Insurance, Judge Ron McLaren, has urged full disclosure when applicants take out policies. “It is very unfortunate if a policy is repudiated and a claim is not paid because of non-disclosure,” he said.  READ MORE

Munich Re: Insurance not a cure-all for poor risk selection in mining

The inaugural Munich Re Mining Re/Insurance Client Seminar held in Johannesburg last week emphasised the need for sound risk management practices in the mining sector. “You cannot change a bad risk into a good risk by covering it with insurance,” Nico Conradie, CEO of Munich Re, told the delegates.  READ MORE

Two-thirds of South African shares in bear market

The share prices of the biggest 40 companies on the JSE are down on average 13% so far this year and almost 96% of JSE shares are now down 10% from their highest point in the past year.  READ MORE