The group of oil producers known as OPEC+, including Saudi Arabia and Russia, are likely to agree to cut production at a meeting scheduled for Thursday as long as the United States joins in cutting output, three OPEC+ sources told Reuters.
The Reserve Bank has cut its growth forecasts for South Africa, predicting the economy could shrink by as much as 4% in 2020 due to the coronavirus pandemic, the national 21-day lockdown and the recent downgrades by credit rating agencies.
A majority of online South Africans are confident that the national government is effectively addressing the threat posed by the spread of the coronavirus, even as lockdowns and closures force millions to isolate themselves.
The South African arm of British American Tobacco urged the government on Saturday to reconsider its ban on cigarette sales during the nationwide coronavirus lockdown, saying it would have unintended consequences.
World Bank Group President David Malpass on Friday said the rapidly spreading COVID-19 pandemic was expected to cause a “major global recession” that would likely hit the poorest and most vulnerable countries the hardest.
A chain store in Centurion, south of Pretoria, has responded to the rapidly-changing lifestyles necessitated by the Covid-19 pandemic by disrupting traditional forms of local supermarket shopping as we know it.