TUESDAY, 11.00AM TRANSPORT parastatal Transnet’s loss-making parcel delivery service PX and its road transport operator Autonet are to be 100% privatised, Transport Minister Mac Maharaj said on Monday. Transnet has been forced to absorb PX’s whopping R500-million deficit, and is likley to report huge losses next week as a result. Maharaj’s announcement has angered labour […]
MONDAY, 5.30PM A PERFORMANCE report by the auditor general has revealed that the SA National Defence Force wasted millions of rands buying unnecessary aircraft components and spare parts that became obsolete. The report, one of five carried out on national government departments in 1995/96, found stock worth an estimated R820-million had been kept in storage […]
MONDAY, 11.00AM AS rumours of an imminent interest rate cut continued to abound, the benchmark R150 government long bond on Friday broke through the 14% yield level amid bullish expectations about economic indicators to be released this week. The R150 traded between Thursday’s closing level of 14,03% and 13,955%, before closing at 13,98%. The R150 […]
NP THREATENS DEFECTORS THE National Party has threatened legal action against the eight Pretoria city councillors who recently defected to Roelf Meyer’s New Movement Process if they do not vacate their council seats. Each of the councillors will receive a written ultimatum to this end in the next few days, NP Pretoria regional chairman Fanus […]
MONDAY, 11.00AM MARKET analysts believe European Commission approval is imminent for Johannesburg Consolidated Investments’ purchase of Anglo American’s 26,8% stake in multinational Lonrho, after JCI chairman Mzi Khumalo met EC representatives last week to discuss the takeover. Meanwhile, on Friday Khumalo announced JCI’s disposal of its 8,7% stake in British company Johnson Mathey to SBC […]
MONDAY, 11.00AM MINE management at Tweefontein Colliery has begun large-scale dismissals of workers believed to have been involved in the mob murder of mine manager Fanie Venter at the colliery’s Waterpan section near Ogies in Mpumalanga last Wednesday. The National Union of Mineworkers has charged management with dismissing workers without disciplinary inquiries or any undertaking […]
MONDAY, 11.00AM THE Development Bank of Southern Africa released a R5-billion, 30-year, zero-coupon eurorand bond issue on Friday. The deal, led by underwriters Hambros Bank and Rand Marchant Bank, is the first with an explicit guarantee by the SA government. The offer attracted strong interest, according to a syndicate official at Hambros. Zero-coupon bonds in […]
MONDAY, 2.00PM: SOUTH AFRICA’S Gary Player fired a five-metre birdie putt at the second extra hole to win the $58 330 Senior British Open at Royal Purtush on Sunday. He finished ahead of countryman John Bland. Player shot a four-under 68 for his third Senior British Open trophy. “This is one of the two best […]
MONDAY, 3.30PM A FORMER police general told the Johannesburg High Court on Monday that senior African National Congress leaders contacted police on the eve of an Inkatha Freedom Party march through central Johannesburg in 1994 to express their concern about the potential for conflict. Testifying before the inquest into the deaths of 19 marchers killed […]
MONDAY, 3.30PM AN ongoing forensic audit into financial management at the SA Tourism Board has led Pretoria police to open four separate investigations into fraud at Satour. According to Michael Farr, leader of the special management team probing the parastatal, the forensic audit has so far uncovered inefficient management systems, a virtual absence of internal […]