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 […]

UN Secretary-General Kofi Annan expects 11 British soldiers being held hostage by renegade troops in Sierra Leone to be released ”in the near future”. Annan told reporters that officials were making progress in their talks with the rebels, known as the West Side Boys. The British soldiers were part of a contingent of about 400 […]

SHARES in African Life Assurance fell sharply in the wake of the unbundling of stakes in the group by Real Africa Holdings (RAH) and Real Africa Investments Ltd (RAI). ”Real Africa Holdings and Real Africa Investments have unbundled their stakes in Aflife and it would seem some of the recipients of the shares are selling,” […]

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 […]

AFRICAN EYE NEWS SERVICE, Washington | Monday OUTSPOKEN Wits University professor and social commentator Patrick Bond has criticised President Thabo Mbeki’s economic policies at a seminar in the US, instead lobbying US activists to join a boycott on the World Bank. Bond told non-government organisations at the Washington Centre for Economic Justice and Policy Research […]

A SASOLBURG businessman will appear in court today after allegedly killing one of his employees and dragging his body through the Sasolburg Industrial area behind his bakkie. Free State police said members of the public called the police after seeing the bakkie dragging what appeared to be a body behind it, and had followed a […]