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Standard Bank acquires 35% stake in TradeSafe

South African startup TradeSafe, an online escrow platform that safeguards the buyer’s funds in trust in a transaction involving two or more parties, has raised an undisclosed amount of funding from Standard Bank in return for a 35 per cent equity stake.

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Project fuels progress

As part of an ambitious new project, technicians will undergo virtual training via electronic media from Italy, whereafter two vehicles will be converted to run on liquid petroleum gas (LPG).

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Slight decrease in fuel prices set for month-end as Rand, oil tussle

  • Fuel prices are set to decrease at month-end.
  • Petrol to drop by nine cents, while diesel will drop around seven cents a litre.
  • Stability could change and cause an increase in fuel prices.
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Sasol ends torrid financial year with a R91 billion loss

  • The petrochemical group says 'unprecedented low oil prices' and impairments of R111.6 billion resulted in a loss of R91.3 billion.
  • The group expects global oil prices to remain low for up to 18 months
  • The company's total debt has increased to R189.7 billion.
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NUMSA vows to fight essential service application in petroleum

  • National Union of Metalworkers of South Africa said it is part of arbitration at the Commission of Conciliation, Mediation and Arbitration to determine if workers in petroleum should constitute an essential service.
  • The NUMSA statement called the application by employers an attempt to circumvent central bargaining processes.
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