South Africa’s car and truck industry is currently worth about 8% of Gross Domestic Product, or somewhere in the region of R400-billion. About half the African continent’s cars are made in SA, all by the operations of the seven huge multinationals that operate locally. So a threat to the industry is serious stuff.
To counter this fraud, exporters must achieve a certain level of local origination for something to be classified “Malawian”. So now let’s assume a no-deal Brexit. From that point onwards, whatever was produced in the UK no longer qualifies as originating in Europe, so it cannot be considered as part of the local origination formula.
But, you could argue, the chance of a no-deal Brexit is small, probably around 40%. So what if there is a Brexit deal? The problem here, says MacKay, is that you just don’t know what the Brexit deal will look like. If there is a deal, it’s likely that there will be a certain amount of time to negotiate these issues. “There will be some breathing space, and that will be very positive.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK: SA’s car manufacturing system could help to get SA’s industrial development on the roadTo great political applause, car company Nissan has said it will spend R3-billion on its plant in Rosslyn outside Pretoria to build the Navara model. Announcements like these regularly punctuate the news; it’s all part of SA’s grand Automotive Production and Development Programme, arguably the crown of SA’s interventionist industrial effort. But if this policy is working so well — and it does seem it is — why is it not being applied to other sectors?
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Why Does Trump Want to Turn America Japanese?As officials from the US and Japan meet this week to begin hashing out a bilateral free-trade pact, author Michael Schuman asks why U.S. President Donald Trump seems to be preferring policies would essentially emulate those that underpinned not just Japan’s rise but its subsequent fall.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Uber Makes IPO Case That It’s About the Platform, Not the LossesUber Technologies Inc., the current era’s archetypal startup, moved toward becoming a public company Thursday, revealing that it racked up a $3 billion operating loss last year and hoping potential investors will look beyond that.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: One month before 2019 election, SA economy takes three hits in quick successionThey say that the hits that don’t break your back make you stronger. In fact, it’s more likely that the hits that don’t break your back will, in fact, make you weaker. The news is not entirely as gloomy as it seems, but coming just before the election, one thing is for sure: the incumbent government will not be propelled into the election on a wave of a strong economy. Not only hits, those are big hits, as well tim_cohen. I can't help wondering what S&P are smoking to get all that Ramaphoria....🙄 We're we really expecting a different outcome? Government is in tatters, Cyril house is still not finished, everyones rioting, burning books, throwing chairs, it's a baby written soap opera, Days in S. A.........
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK OP-ED: Why holiday island Mauritius is out-investing SA, and what we need to do about itMauritius is small, isolated, but when it comes to a David versus Goliath sling-match, this island-nation with 1.4-million people is seriously kicking SA’s butt. How should SA rectify the balance? They are capitalist. That's why there is growth
Source: dailymaverick - 🏆 3. / 84 Read more »
EDITORIAL: Brexit delay ushers in more uncertainty for SA businessTrade with the remaining 27 EU members would have been disrupted as components imported from the UK would now be classified as coming from a third country
Source: BDliveSA - 🏆 12. / 63 Read more »
Business Maverick: Anglo Platinum Miner Braces for Tough Wage TalksThe world’s biggest platinum producer is preparing for tough wage negotiations as higher metal prices spur labor union demands. There is also some concern the strike in the gold industry might wash over into the platinum industry.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick Op-Ed: Energy transition: Towards a zero-emission futureA low-cost shift to clean energy is now feasible for every region of the world, owing to the plummeting costs of solar and wind power, and breakthroughs in energy storage. The total system costs of renewable energy, including transmission and storage, are now roughly on par with fossil fuels.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Africa’s Amazon Set for New York IPO as Online Retail Takes OffJumia, Africa's largest online retailer, continues to build its profile in the run-up to its New York Stock Exchange listing. The company has now release its customer numbers for 2018, which jumped 48% to just over four million. Its planning to sell 13.5 million American Depository Shares at $13 to $16, raising as much as $216 million.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Standard and Poors Sees S.A Policy Reforms Continuing After ElectionStandard and Poors Global Ratings is counting on the ANC to continue with policy reforms after the May 8 election, and this is why there is stable outlook on SA's credit rating.
Source: dailymaverick - 🏆 3. / 84 Read more »