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Moneyweb
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Market for illicit cigarettes reaches record levels
- The market for illicit cigarettes in South Africa has reached record levels, with over 91% of products sold without excise duty or value-added tax coming from 14 local manufacturers.
- Cheap cigarettes, some selling for as low as R5 per packet of 20, result in an estimated annual loss of around R28 billion to the fiscus, approximately R100 million each working day.
- Research by Ipsos, commissioned by British American Tobacco (BAT), found that cigarettes sold below the minimum collectable tax have surged to 76.6% in 2025 from 27% in 2022.
- Despite efforts to curb the illicit tobacco trade, strategies have not been successful, with retailers in provinces like the Eastern, Northern, and Western Cape as well as North West selling cigarettes below the minimum tax threshold, contributing to the increasing problem.
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Moneyweb
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Questions around eligibility of Chinese JV to continue executing R1.5bn Sanral project
- Sanral allows Chinese JV to continue R1.56bn project despite partner registration suspension.
- Base Major Construction's CIDB registration lifted after R1.57bn road contracts awarded by Sanral.
- Legal challenge on N1 and R61 contracts, CIDB compliance questioned. Sanral investigation ongoing.
- Sanral defends awarding, cites active status during evaluation. No plans to cancel contracts.
- Tenders for different projects not linked, Sanral faces delays in completing investigation.
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Moneyweb
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183
City of Cape Town to evict refugees living at emergency housing sites
- City of Cape Town is planning to evict refugees living in emergency housing sites, including a large white tent at Wingfield in Maitland.
- The refugees were part of a group that protested outside the UNHCR offices in Cape Town in 2019, demanding resettlement in countries other than South Africa.
- Despite offered assistance and reintegration into local communities, about 160 refugees remain at the site due to fears of xenophobic attacks if they return to their former areas.
- UNHCR encourages the remaining occupants to return to their local communities, enroll their children in school, and restart their lives, emphasizing compliance with South African laws.
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Moneyweb
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253
Fresh wave of JSE delistings looms
- JSE facing delistings from companies like Trencor, AH Vest, and Ayo Technology Solutions.
- Reasons include high costs, limited liquidity, and compliance challenges for these entities.
- Other potential delistings include Tongaat Hulett, MTN Zakhele Futhi, Assura, and MultiChoice.
- Investors await the future of Reinet after selling its major stake in Pension Insurance Corp.
- Overall, a trend of delistings is observed due to various financial and compliance factors.
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Bloomberg Quint
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374
Image Credit: Bloomberg Quint
SpaceX Valuation To Hit Around $400 Billion In Share Sale
- SpaceX is planning to raise money and sell insider shares, valuing the company at around $400 billion.
- This valuation would make SpaceX the largest-ever privately held US company, surpassing its previous valuation of $350 billion.
- The valuation considers factors like the success of its Starlink satellite internet unit and advancements in the Starship rocket program.
- SpaceX's strategy includes a primary fundraising round to sell new shares to investors and a secondary offering for employee and early investor shares.
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Moneyweb
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104
Where Trump’s tariffs will hurt most
- South Africa's exports to the US face 30% tariff with some exceptions.
- Critical minerals like PGMs, gold, chrome, and coal exempt. Cars, steel, agriculture hit.
- US using tariffs to pressure SA on broader political issues. Economic impact estimated at 0.5%.
- Automotive industry to suffer greatly with 30% export tariffs. Unemployment rate rises.
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Moneyweb
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170
Why some SMEs are loading bitcoin onto their balance sheets
- Altvest became the first JSE-listed company to adopt bitcoin on its balance sheet, with other South African companies following suit.
- Companies are using USD-pegged stablecoins like Tether in addition to BTC to hedge against inflation and potential rand weakness.
- The growing acceptance of cryptocurrencies, especially stablecoins and bitcoin, in the financial sector is notable.
- Institutional buyers entering the BTC market through ETFs have contributed to BTC's price stability and speculation about its future trajectory.
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Bloomberg Quint
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399
Image Credit: Bloomberg Quint
Apple COO Jeff Williams To Retire In Major Changing Of Guard
- Apple's COO Jeff Williams to retire, marking a major leadership change at the company.
- Sabih Khan will be the new COO, with Apple's design team reporting directly to CEO Cook.
- Williams, a long-time deputy overseeing supply chain and engineering, will retire later this year.
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Bloomberg Quint
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Image Credit: Bloomberg Quint
Stock Market Today: All You Need To Know Going Into Trade On July 9
- NSE Nifty 50 and BSE Sensex ended higher on Tuesday, influenced by US-India trade deal.
- Kotak Mahindra Bank and HDFC Bank were top contributors to NSE Nifty 50 index.
- Stocks like Pharma, Gujarat Pipavav, Tata Steel, and Union Bank of India in focus.
- Companies like JSW Steel, Zee Entertainment, and Tata Motors reported updates.
- Currency market update: Rupee closed stronger against US Dollar, 10-year bond yield higher.
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Bloomberg Quint
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362
Image Credit: Bloomberg Quint
Glen Industries To Utilise IPO Funds For Capacity Expansion
- Glen Industries is conducting an initial public offering to raise Rs 63 crore for expanding its production capacity, with a focus on manufacturing thin-wall food containers and paper-based packaging.
- The IPO funds will predominantly be used for setting up a new production facility that is estimated to cost around Rs 100 crore, with a portion coming from equity and the rest through a term loan.
- The current production capacity of Glen Industries includes 665 tonnes per month for thin-wall food containers, alongside quantities for paper and PLA straws, with plans to increase production significantly upon the new facility's completion.
- The company anticipates a substantial revenue increase post-expansion and aims to have the new facility operational by January 2026, aligning with expectations of exponential turnover growth within the quick-service-restaurant industry.
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Bloomberg Quint
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279
Image Credit: Bloomberg Quint
Worst Over For Microfinance Sector, Revival In Rural Demand To Aid Growth: Satin Creditcare Chairman Singh
- The microfinance sector is showing signs of recovery with rural demand supporting growth, according to Satin Creditcare Network Ltd. chairman HP Singh.
- Positive indicators include improved asset quality metrics and increased disbursements, driven by a revival in the rural economy.
- The company maintains a focus on technology to enhance customer acquisition, disbursement cycles, and collection efficiency.
- In FY26, the company anticipates a decline in credit costs from the 4.6%-4.7% range seen in FY25, with a strong emphasis on maintaining good asset quality.
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Bloomberg Quint
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Keystone Realtors Set To Surpass Rs 4,000-Crore Guidance In FY26: Executive Director
- Keystone Realtors Ltd. is confident of surpassing its guidance of Rs 4,000 crore in pre-sales for FY26, having achieved one-fourth of it in the first quarter.
- In the first quarter of FY26, the Mumbai-based developer reported a pre-sales of Rs 1,068 crore, the best Q1 pre-sales it has ever seen, with collections totaling Rs 575 crore.
- The company has acquired 18 projects in the last two and a half years with a total GDV of around Rs 20,000 crore and added another Rs 7,000 crore of projects in the latest quarter.
- Keystone Realtors is expanding its presence within and beyond the Mumbai Metropolitan Region and exploring plotted development markets in various areas. The company has been successful in passing on increased project costs to homebuyers.
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Bloomberg Quint
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139
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Stock Market Live: GIFT Nifty Implies Negative Open; Vedanta, Hindalco, Cipla, Lupin, Dr. Reddy's In Focus
- Indian markets are expected to open lower due to weak global cues with the Nifty 50 likely to have support at 25,400 and resistance at 25,600.
- Global markets, including Asia and the US, experienced declines following announcements by US President Donald Trump of tariffs on copper and pharmaceutical imports, leading to a negative sentiment in the markets.
- The GIFT Nifty was trading down, indicating a negative open. Investors might focus on companies like JSW Steel, Tata Steel, Seamec, Dixon Technology, and Rail Vikas Nigam for news impact.
- The Nifty 50 and BSE Sensex closed higher on the previous day, influenced by Kotak Mahindra Bank and HDFC Bank performance, amidst trade deal uncertainties between the US and India.
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HinduBusinessLine
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Trump vows no tariff extension, hardens threats on copper, pharma, BRICS
- Trump refuses further tariff extensions, hardens threats on copper, pharma, BRICS.
- He plans to impose 50% tariffs on copper imports and 10% on Indian goods.
- Trump warns of possible 200% tariffs on pharmaceutical imports if not produced in US.
- The US extends suspension of reciprocal tariffs to August 1, amid ongoing trade tensions.
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Bloomberg Quint
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Image Credit: Bloomberg Quint
Petrol, Diesel Prices Flat On July 9 — Here's How Much You Pay For Fuel In Your City
- Fuel prices in India remained unchanged on July 9, 2025, with petrol and diesel prices holding steady across most metros.
- Petrol is priced at Rs 94.77 per litre in Delhi, Rs 103.50 in Mumbai, Rs 100.80 in Chennai, and Rs 105.41 in Kolkata. Diesel costs Rs 87.67 in Delhi, Rs 90.03 in Mumbai, Rs 92.39 in Chennai, and Rs 92.02 in Kolkata.
- The stability in fuel prices dates back to May 2022 after reductions in fuel taxes by the central and state governments.
- Oil marketing companies like Indian Oil Corp. review petrol and diesel prices daily based on global crude prices, exchange rates, demand, and market trade flow. Oil prices have been impacted by geopolitical risks, with Brent crude at $69.94 a barrel and West Texas Intermediate near $68.11 on July 9.
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