SUSPECTED Unita rebels have killed a man in a remote village in northern Namibia after helping themselves to food from his kitchen. ”Suspected Unita bandits shot dead a 66-year old Namibian man, Gabriel Nzowo, in the early hours of yesterday morning,” The independent Namibian newspaper reported. The Namibian Press Agency said 13 people attacked the […]
THE price of OPEC’s basket of seven crudes rose further to a year high of $31.37. That left the price above the group’s target $22-$28 price band for the twelfth consecutive working day. Under an informal mechanism agreed between OPEC producers in June, if the basket stays above the $22-$28 band for 20 working days […]
ACOUSTICAL spy tapes made by an American submarine in the Barents Sea support the theory that a faulty torpedo apparently exploded and sank the Russian submarine Kursk, US officials said. The officials confirmed a New York Times report that sonar tapes and other recordings that captured sounds of two explosions believed to have sunk the […]
Immediately news of the most recent bomb blast in the centre of Cape Town reached the outside world, the markets reacted negatively with the yields on the five-year benchmark R150 bond dipping three basis points to 12.74 percent. – Reuters
FINANCIAL services group Alexander Forbes has secured 100m pounds of offshore funds to finance its international expansion drive. The funds were raised through exchangeable bonds to be issued by Alexander Forbes UK plc. They will be listed on the Luxembourg Stock Exchange and have been fully subscribed by RFS Holdings, an associate company of Rembrandt […]
GOLD Fields Ltd and Finland’s Outokumpu Oyj said they had discovered a 2.9 million ounce platinum group element (PGE) resource at their Arctic Platinum Partnership in northern Finland. ”Preliminary analysis suggests…the resource may be extractable by open pit mining methods,” the companies said. Gold Fields spokesman Willie Jacobz said the prospects for a mine appeared […]
IMPALA Platinum Holdings Ltd (Implats), the world’s second-largest platinum producer, has reached a deal with the National Union of Mineworkers (NUM) to raise wages and improve employment conditions at its Rustenburg operations. ”The parties have agreed to an increase of 9% on the basic rate of remuneration, effective from July 1, 2000, until the end […]
THE Ghanaian government has ordered half a million female condoms to help combat the spread of the HI virus. The contraceptive, which can be used by either women or men practicing homosexual sex, was first trialed in the country as part of a pilot project run by the United Nations Population Fund and the Ghana […]
REUTERS, Johannesburg | Tuesday ANGLO American Platinum Corp (Amplats) has sold a stake of roughly 17.5% in miner Northam to empowerment firm Mvelaphanda Platinum. “Together with the acquisition from Rembrandt Group of a 5% shareholding in Northam, Mvela will hold approximately 22.5% which is roughly equal to Amplats remaining holding,” the platinum miner said. Amplats […]
REUTERS, Rabat | Tuesday MOROCCO’S trade deficit for the first half of this year surged 39.8% to 22.66bn dirhams due mainly to a higher crude oil imports bill. The state foreign trade regulatory Office de Changes said in a report that imports rose 14.8% at the end of June to 60.11bn dirhams while exports edged […]