Discovery Bank posted R370 million profit, while attracting 70% of new business from outside the Discovery Group. Discovery Bank has reported a normalised profit from operations of R370 million for the year ended 30 June 2026, marking a turnaround from the R68 million loss recorded in the previous period. The bank’s move into profitability comes…
Bulk water utility Rand Water on Thursday disclosed that it had become the latest institution to fall prey to cyberattackers. However, it said the impact on its operations has been minimal. Rand Water’s primary activity is the provision of bulk water supply services – potable bulk water and sanitation services — in Gauteng and neighbouring…
OpenAI on Monday announced that its advertising business has hit $1 billion in annualized revenue run rate, a milestone that the company is touting as proof of its “diversified business model.” The artificial intelligence company is gearing up for what is expected to be a massive initial public offering, and is under pressure to justify…
Traders work on the New York Stock Exchange (NYSE) on August 06, 2026 in New York City. Spencer Platt | Getty Images Treasury yields pulled back slightly on Tuesday after long-dated bonds hit their highest level in almost two decades amid a worsening U.S. fiscal situation and persistently higher inflation. The yield on the U.S….
Seven-time Grand Slam winner Venus Williams defeated 6-2, 6-2 by Emiliana Arango in the first round of Cincinnati Open. Published On 15 Aug 202615 Aug 2026 Venus Williams’s losing streak in singles play has reached 13 matches. The seven-time major champion was defeated 6-2, 6-2 by Emiliana Arango late on Friday in the first round…
MTN Group will book a material impairment against its 49% stake in Irancell in its results for the six months to June, the company said in a trading statement ahead of interim numbers due on 24 August. The writedown pushes statutory earnings sharply lower even as the group’s underlying operating performance improved. Impairment losses of…
Tether remains the dominant stablecoin in South Africa. (Image created by GenAI) Authorised financial services provider BlockTower’s rand-backed stablecoin ZARU has been listed on Luno Global, in what it says is the first institutional-grade rand stablecoin on a regulated crypto exchange. The listing gives the rand an on-chain secondary market on Luno’s exchange. ZARU, which…
Ukraine continues to strike warehouses and logistics hubs run by Wildberries, which it says aids Moscow’s war efforts. Russia’s latest attacks on Ukraine have killed at least six people, local authorities say, as Moscow and Kyiv trade intensifying strikes targeting each other’s economic and energy infrastructure. A wave of Russian attacks killed two people and…
VALR CEO Farzam Ehsani Barring South African companies from moving crypto assets across the country’s borders will likely drive those transactions underground or offshore and reduce the very oversight national treasury and the South African Reserve Bank are trying to achieve, according to VALR CEO Farzam Ehsani. Ehsani was responding to the draft Crypto Asset…
Meta CEO Mark Zuckerberg. Carlos Barria/Reuters Meta Platforms reported a 91% plunge in second-quarter free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout amid an uncertain payoff. The Facebook and Instagram parent company reported free cash flow of US$784-million in the second quarter ended 30 June, down…
