No image available
/ 26 February 2004
The PSG Group announced on Wednesday that it has entered into a partnership with a new black empowerment company, Arch Equity, which will acquire for cash 10-million shares in the PSG Group as its first transaction. Desmond Lockey is the controlling shareholder of Arch Equity and will serve as CEO of the new company.
No image available
/ 23 February 2004
United Kingdom- and South African-listed financial services group Old Mutual plc CEO Jim Sutcliffe has reiterated the group’s commitment to retain its 52% stake in South African banking subsidiary Nedcor, saying that the stake is not for sale and that Old Mutual is even happy to further increase its shareholding in the group.
No image available
/ 17 February 2004
South African Minister of Finance Trevor Manuel is likely to unveil some reductions in personal income taxes as part of the government’s 2004/05 Budget when it is released on Wednesday, but these reductions will be smaller than those in previous years, according to Old Mutual Asset Managers.
No image available
/ 17 February 2004
Minister of Finance Trevor Manuel is expected to announce a rise of about 10,8% in excise duties on tobacco products — or 42 cents per pack of 20 cigarettes — when he unveils the Budget for 2004/05 in Parliament on Wednesday. He is also expected to announce substantially higher increases in excise duties on alcoholic beverages.
No image available
/ 16 February 2004
South Africa’s 2004/05 government Budget, set for release on Wednesday, should reveal a "go for growth" strategy, tolerating an increase in the Budget deficit in the coming years, according to investment bank Lehman Brothers. This expansionary fiscal policy could prove to be crucial to sustain economic growth in 2004 and beyond.
<li><a class=’standardtextsmall’ href="http://www.mg.co.za/Content/l3.asp?ao=31237">Budget could bring positive surprise</a>
No image available
/ 10 February 2004
Continuing rand strength is likely to discourage foreign investment in South African mining as investors look for cheaper alternative destinations, putting the future development of local mining at risk, industry participants were warned on Tuesday.
No image available
/ 9 February 2004
Sixteen African ministers responsible for mining in their respective countries have launched the African Mining Partnership, with the aim of championing and coordinating mining and mineral-related initiatives under the auspices of the New Partnership for Africa’s Development.
<li><a class=’standardtextsmall’ href="http://www.mg.co.za/Content/l3.asp?ao=30904">African mining risks loss of funding</a>
No image available
/ 9 February 2004
Ministers responsible for mining in Africa have raised concerns that all funding now being provided to the industry across the African continent by multilateral organisations such as the UN, the International Monetary Fund and the World Bank could be cut off due to complaints by the global environmental lobby.
No image available
/ 9 February 2004
South Africa’s exports of wine and alcoholic fruit beverages (including flavoured grape liquor and that for vinegar and industrial purposes) grew 11,2% y/y in volume terms in 2003, according to preliminary statistics from South Africa Wine Information Systems (Sawis), the industry’s official data collection group.