Alec Erwin, South Africa’s Minister of Public Enterprises, said the country would look to nuclear-generated power for the country’s future power needs. He said as the country sought to reduce dependance on coal-fuelled power stations, a viable base-load power source would be needed.
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/ 5 September 2006
Old Mutual has unveiled its much anticipated black economic empowerment (BEE) transaction in Namibia which will result in a broad range of black stakeholders acquiring direct ownership of N$308-million of the Old Mutual Group’s Namibian businesses.
The increase in South Africa’s consumer price index excluding mortgage rate changes (CPIX) for metro and other areas, which is used by the South African Reserve Bank for its inflation target, was up 4,1% year-on-year in May after a 3,7% y/y increase in April, Statistics South Africa said on Wednesday.
There were a number of worrying signs across the metals market that suggested that a significant correction was close at hand within the current longer term bull market, technical analysts for JP Morgan wrote on Thursday. "We suggest some profits are booked on any further strength," JP Morgan added.
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Former deputy president Jacob Zuma visited Libya just 12 days after being arrested on a rape charge, The Sunday Times newspaper reported. The report said Zuma was in Tripoli for five days where he met with Libyan President Moammar Gaddafi. It said there was no clarity on whether the trip was of a personal nature or if it was linked to a fundraising campaign.
Two Eastern Cape traditional kings have damaged the brand-new luxury German cars the provincial government gave them last month, Dispatch Online reported on Tuesday. The vehicles belonged to King Buyelekhaya Dalindyebo of AbaThembu BakaDalindyebo and King Zwelonke Sigcawu of AmaGcaleka.
A South African tribunal is hearing a case against the biggest steel producer in Africa, Mittal Steel, following complaints of overpricing by two gold mining companies. The Competition Tribunal started hearing the case brought by Harmony Gold and Durban Roodepoort Deep Gold on Wednesday.
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/ 7 February 2006
Fuel will be temporarily in short supply in some parts of South Africa due to last month’s ”unscheduled” shutdown at Natref refinery, fuel producers said on Monday. South African Petroleum Industry Association director Colin McClelland said: ”The shutdown has, however, disrupted the production volumes and the continuous delivery of petrol and diesel from the Natref refinery.
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/ 24 January 2006
Ford Motor Company has announced further massive retrenchments plans of thousands of workers, the National Union of Metalworkers of South Africa said on Tuesday. The trade union attributed the potential retrenchments to the relocation of Volvo and Land Rover production operations in Pretoria’s Ford assembly plant to Europe.
Sweden’s SaabTech and South African-based Avitronics have taken the next step in their co-operation to form a joint business unit — Saab Avitronics — which will start operating on July 1, it was announced on Tuesday. This new entity comprises 1 250 employees in two countries.