MONDAY, 11.00AM THE Johannesburg Stock Exchange’s all gold index followed bullion’s latest recovery on Friday, picking up 27,7 points to close at 992 (after an intraday high of 1 005,1) as gold rallied $4,80 to $324,20/oz. Analysts, however, remain cautious about gold’s fortunes, saying the situation is nothing to get excited about, and a rally […]
DENEL SUES THREE PAPERS ARMS manufacturer Denel is suing the three Sunday newspapers in the Independent Group for an article revealing details of an R7-billion weapons export deal to an unnamed Middle East country. Denel had earlier attempted to stop publication with an urgent court interdict. Denel has not denied the deal, but objects to […]
MONDAY, 4.00PM ZIMBABWEAN war veterans, who stormed the country’s parliament last week to demand pension pay-outs from a government war veterans’ fund, at the weekend mobbed cabinet ministers who were to address them, forcing the ministers to flee for their safety. President Robert Mugabe’s government called a series of meetings with veterans around the country […]
MONDAY, 4.30PM NONOGENARIAN former Malawian president Hastings Kamuzu Banda on Sunday announced his retirement from politics. The move is largely symbolic, as Banda, who is believed to have been senile for years, has not played an active role in politics since he relinquished power in the country’s first multiparty elections in 1994. Since then he […]
MONDAY, 5.30PM: CHARLES TAYLOR, a former Liberian warlord and leader of the National Patriotic Party (NPP), has taken an early lead following Saturday’s presidential elections. According to preliminary results released on Sunday night by the independent electoral commission’s chairman, Henry Andrews, the NPP polled 62,38% of the total 29 483 votes so far declared from […]
MONDAY, 11.00AM INVESTMENT companies belonging to the Congress of SA Trade Unions and its affiliates, together with a black doctors’ organisation, have clinched a R220-million stake in Netcare’s R920-million acquisition of private hospital group Clinic Holdings. The deal, in which Netcare acquired Barney Hurwitz’s controlling stake in Clinic Holdings, which owns 17 hospitals and Hurwitz’s […]
MONDAY, 1.00PM: ORLANDO PIRATES are the new Iwisa Charity Soccer Spectacular champions after beating defending champions Kaizer Chiefs on penalty shootouts on Saturday. Chiefs went down 10-9 to Pirates. A total of 30 penalties were taken. Pirates qualified for the final after beating Moroka Swallows 6-5 on penalties after their game ended 1-1 at full […]
MONDAY, 8.30AM PRESS reports on Monday morning confirm that labour minister Tito Mboweni plans to quit (see below). Questioned by reporters, Mboweni did not deny plans to move, but said he would not join the “Great Trek” to the private sector. It is believed that he is hoping to head the ANC’s economic policy unit. […]
MONDAY, 11.00AM BLACK empowerment group Worldwide African Investment Holdings has wrapped up a surprise R400-million deal to acquire control of the R1,4-billion-a-year petrol retailer Zenex Oil. Worldwide on Friday confirmed that it had, together with a consortium including Standard Corporate and Merchant Bank and Zenex management, bought Zenex Oil from Zenex Trust. Worldwide already owns […]
MONDAY, 11.00AM THE Industrial Development Corporation has signed a R250-million five-year, fixed-rate eurorand term loan. The loan, which was signed last week with Rabobank of the Netherlands and Commerzbank in Johannesburg, will be financed by Rabobank. It is the IDC’s second eurorand loan. IDC CEO Khaya Ngqula said the loan will be used to fund […]