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 […]
A MAN accused of decapitating a five-year-old boy and cutting off his genitals and left arm, was allegedly caught with the body parts at a church service and arrested. The man was arrested at a Zion Christian Church in Bettiesgood village in Mpuluzi near Piet Retief. Little Nkosinathi Thela was found mutilated in KwaThandeka near […]
MARK BENDEICH, London | Monday MINING and metals group Billiton Plc grabbed Australia’s prized Worsley alumina refinery, buying a 56% stake in the plant from U.S. aluminium giant Alcoa Inc for $1.49bn. Billiton, in its second major acquisition in less than a week, said its total stake in the outback refinery, one of the world’s […]
US President Bill Clinton has praised Tanzania for its efforts to help bring peace to neighbouring Burundi and carry out economic reform at home. Clinton, the first US president to set foot in Tanzania, said he wanted to encourage more foreign investment there. Clinton paid tribute to Tanzanian President Benjamin Mkapa as a ”champion of […]
MARIAM ISA, Pretoria | Tuesday GROWTH in the South African economy accelerated in the second quarter of 2000 after a sharp slowdown in the first, but the pickup was not enough to trigger fears of a quick interest rate rise. Gross domestic product grew by a seasonally adjusted and annualised 1.6% in the second quarter […]
THE Johannesburg Stock Exchange (JSE) fired general manager of market operations, Mike Bastenie, for dishonesty and breach of fiduciary duty. The JSE said Bastenie was found guilty by a disciplinary committee of ”breach of fiduciary duty to the JSE, dishonesty, prejudicing the security of the JSE’s computer systems and negligently managing a key strategic project […]
RATING agency Duff & Phelps (DCR) awarded its ”AA-” rating on the senior bonds (K001 bonds) of South African capital holding company Kiwane Capital Holdings’ and ”BBB-” on the mezzanine bonds (K002 bonds). DCR said the ratings reflected Kiwane’s high credit quality with strong protection factors. Kiwane is a cashflow collateralised debt obligation backed by […]
SYNTHETIC fuel producer Sasol posted a surge in full-year earnings led by a sharp jump in international world oil prices and a weaker rand. Sasol posted fully diluted headline earnings of R6.74 in the year ending June 25, versus R3.77 in the previous 12 months. Sasol declared a total dividend for the year of 2.20 […]
ZIMBABWE’S main share index inched up almost 23 points with brokers anticipating little movement for the rest of the week due to a lack of news to give the market direction. Simultaneously the central bank devalued the country’s currency by 3%, its second adjustment of the official exchange rate in a month. Currency markets were […]