Business confidence is at record levels aided by a strong rand, lower domestic inflation and a surge in consumer spending, the SA Chamber of Business (Sacob) said on Tuesday. Sacob's business confidence index (BCI) reached a level of 130,9 points in September, which is 3,1 points higher than August's level of 127,8.
The government supports the principle of there being a minimum of four large banks supervised by the South African Reserve Bank, Minister of Finance Trevor Manuel said on Thursday. Absa has announced that Sanlam's share in the bank may be sold and has confirmed it is in talks with British bank Barclays plc.
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The operating profit of petrochemical giant Sasol fell by 22% owing to the strength of the rand, the company said at its annual results presentation on Tuesday. The negative effect of the rand was cushioned by the beneficial high oil prices and management initiatives to streamline the business, Sasol chief executive Pieter Cox said.
The banking industry was more stable in 2003 after the turbulence of the previous two years, the South African Reserve Bank's supervision department said on Wednesday. Registrar of banks Errol Kruger was speaking at the release of the bank supervision department's 2003 annual report in Johannesburg.
The president punched the sky and leapt into the air as ordinary South Africans laughed, cried, danced and hugged when the country was named the host of the 2010 Soccer World Cup on Saturday. As Fifa president Sepp Blatter in Zurich drew the card stating ''South Africa'' from the envelope, the country erupted with jubilation.
Called the ''Madonna of the townships'', after the United States pop icon, Fassie lived a turbulent, controversial and at times self-destructive life. Industry insiders and admirers noted her more extreme behaviour threatened to undermine her exceptional musical talent -- but she remained one of the biggest sellers the
country has ever produced.
The United Nations's World Food Programme (WFP) has strongly refuted claims that it forces African countries to accept genetically modified (GM) food aid, a spokesperson said on Tuesday. "The WFP does not dictate to any government what kind of food aid it must accept or give," said a WFP spokesperson.
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Pharmacists across the country adopted a wait-and-see attitude to the effects of the new Medicines and Related Substances Act as the industry faced uncertainty and anger on Monday. The Act, intended to regulate medicine prices, came into force on Sunday, making discounting by manufacturers, wholesalers and retailers illegal.
The National Prosecuting Authority has emerged as a stronger organisation following the Hefer commission, National Director of Public Prosecutions Bulelani Ngcuka said on Wednesday. ''We faced one of the toughest public tests any organisation can face. This does not happen with many institutions, especially not with organs of state,'' said Ngcuka.
Judge Siraj Desai, charged with the alleged rape of a South African woman in India, will leave Mumbai, India, on Friday, said Foreign Affairs spokesperson Ronnie Mamoepa. Desai was granted bail of R1Â 500 earlier on Friday.
Salome Isaacs's affidavit withdrawing rape charges against Judge Siraj Desai will be presented at the judge's bail hearing on Friday, said Foreign Affairs spokesperson Ronnie Mamoepa. He said the signed affidavit stating Isaacs's intention to unconditionally withdraw the rape charges is in the possession of the Indian authorities.
National Director of Public Prosecutions Bulelani Ngcuka will not sue those who accused him of having been an apartheid spy, nor resign his post, he said in Johannesburg on Thursday. ''There is a bigger battle to be fought and won in courts. That is the battle against crime,'' he said.