5 things you need to know in SA business today and 14 breathtaking photos of some of the world's best scuba diving locations
1. Another South African construction company has just gone bust. Group Five followed Basil Read in filing for bankruptcy protection.
Group Five's lenders refused to give the company any more financing. The company has a massive debt burden after a failed project in Ghana, and hasn't secure many orders in a weak local economy.
Edcon had to be bailed out by the PIC, Aspen's debt is now bigger than its market cap and Group Five has just filed for bankruptcy protection and had its shares suspended from the JSE. Tough times for South African corporates.— Sowellnomics (@Sowellnomics) March 12, 2019
2. Deputy president David Mabuza lashed out at finance minister Tito Mboweni in parliament yesterday, following a question about Eskom's privatisation.
"Whatever the minister of finance said related to privatisation ... is the opinion of the minister. There is no government position on the privatisation of Eskom. When you are in the state you cease to be an individual. You don’t just stand up and say whatever you want to say," said Mabuza.
During a briefing before his first national budget speech in February, Mboweni said he saw no point in government holding onto and supporting ailing entities when they could instead be released or closed down altogether.
3. The UK government is facing renewed turmoil after prime minister Theresa May lost another key vote on her Brexit deal. Next: MPs will have to vote between no-deal Brexit and delaying departure from EU.
The EU's chief Brexit negotiator Michel Barnier warned against the "dangerous illusion" that the UK could benefit from a no-deal transition period.
4. President Cyril Ramaphosa returned from a visit to Zimbabwe without pledging a bailout for that country. However, he did endorse President Emmerson Mnangagwa, and asked for an end to Western sanctions against Zimbabwean officials.
5. Here's something we haven't seen a lot of recently: The market liking a set of results.
FirstRand posted a 7% increase in profits for the six months to December. While RMB and Wesbank lagged, FNB performed well.
Firstrand reasonable results in line with expectations— Wayne McCurrie (@WayneMcCurrie) March 12, 2019
Its share price rose by 2% yesterday.
14 breathtaking photos of some of the world's best scuba diving locations
Carrie Miller, '100 Dives of a Lifetime'
- Whether it's your first time in open water or the hundredth entry in your logbook, these scuba locations provide the ultimate bucket list for explorers, adventurers, and ardent scuba divers no matter their skill level.
- Each location offers a once-in-a-life-time opportunity to explore the magic of our world's oceans - from an armchair or with scuba gear in tow.
- From the Bahamas, to the Azores, to Antartica, here are some of the best scuba locations in the world.
Editor's Note: The following are images from "100 Dives of a Lifetime" by Carrie Miller. Explore 100 breathtaking scuba diving sites across 60 countries and 6 continents through stunning National Geographic photography, expert tips, and cutting-edge travel advice.
The gem of Rapid Bay Jetty: a leafy seadragon in south Australia
Tubbataha is home to 90% of the coral species native to the Philippines
Caribbean reef sharks patrol the national marine park’s waters in Cuba
The shipwreck’s massive hull offers plenty for divers to explore
A diver captures underwater photos of the rich coral reefs in Indonesia's Wakatobi National Park
Caribbean reef sharks circle a diver exploring the wreckage in the Ray of Hope wreck
A diver passes a school of fish on a dive in Kona
The stunning neon pattern of a giant hawkfish in Mexico
Brown boobies check underwater for lunch in Cocos Island
A dusky grouper explores the reefs in the Azores
The beach’s namesake shark patrols the reef in Tiger Beach
Divers prepare to descend from the landing dock of Devil’s Den
Divers explore the fascinating underwater ice formations in Antartica.
Before you dive, take in the Great Blue Hole from the sky in Belize
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