LUCIA MUTIKANI, Johannesburg | Wednesday 11.30am. Japan’s Toyota Motor Corporation (TMC) is to invest about R180m in a catalytic converter plant in South Africa next year. TMC President Fujio Cho said a joint venture between Toyota South Africa and Cataler Corporation would start production in the latter half of 2001 with an initial annual output […]
REUTERS, Johannesburg | Wednesday 12.45pm. ZIMBABWE’S Chamber of Mines fear that 90 percent of the country’s gold mines were at risk due to a critical shortage of foreign exchange. The warning came as another Zimbabwean gold mine, suspended operations due to unsustainable losses. ”At least 90 percent of our gold mines are at risk if […]
OWN CORRESPONDENT, Johannesburg | Tuesday 01.00pm. WALKER, a US e-business and financial solutions company, has entered into a joint venture with local IT firm Gijima Info Tech, in a move to secure a significant portion of South Africa’s market for large-scale financial applications. In this deal worth in excess of R500-million a year the Walker […]
OWN CORRESPONDENT, Johannesburg | Tuesday 03.15pm. South African motorists could expect the high fuel price to remain high for some time despite recent decreases in the price of crude oil, Mineral and Energy Affairs Minister Phumzile Mlambo-Ngcuka said. She told a media conference that the drop in the price of crude oil by US1.20 was […]
FRESH violence has erupted in Nigeria’s commercial capital Lagos, with two people killed and several injured in a clash at the city’s international airport, police and witnesses said. Lagos Police Commissioner Mike Okiro said more police had been deployed to reinforce security at the airport, where customs men and shipping agents fought on Monday over […]
IN AN ongoing power battle, the Hong Kong-backed bidder for South Africa’s third mobile phone licence, Nextcom, launched an urgent court action to prevent Saudi-backed consortium Cell-C from winning the lucrative licence. The court action seeks to prevent Telecoms Minister Ivy Matsepe-Casaburri from endorsing a recommendation by Satra to pick Cell-C, said Nextcom’s spokesperson. The […]
A BRITISH pilot died and nine people including three American tourists were injured when their hot air balloon caught fire on Wednesday as they prepared to fly over Kenya’s Maasai Mara safari park. The luxury game-spotting flight ended in disaster at six a.m. when the balloon operated by Transworld Safaris burst into flames as it […]
VESTACOR, which operates as an investment capital fund is to acquire the interests, loan accounts and cash of sports goods retailer Moresport for R173m, or 70 cents a share. Vestacor said that after the disposal of Totalsports, Moresport did not have the required critical mass and immediate profitability necessary for a listed company to attract […]
OWN CORRESPONDENT, Johannesburg | Tuesday 01.00pm. IN the biggest state restructuring deal under President Mbeki’s auspices, Transnet has reached an agreement with Johnnic Holdings Limited and Johnnic Communications Limited to convert its 23% stake in MTN into shares in its holding company M-Cell Limited, listed on the Johannesburg Stock Exchange. Transnet will also sell 75 […]
AIDS researchers hoping to find a way for women to silently protect themselves from Aids infection were disappointed to report on Wednesday that tests showed one product actually worsened the risk. The product, a spermicide called nonoxynol-9 and marketed under the trade name Advantage S by US-based Columbia Laboratories Inc, did not protect women in […]