BILLITON has announced that it has entered into a joint venture with the LanPing Nonferrous Metals Company company to develop zinc deposits in China’s western Yunnan province. Billiton said the deal is the first commercial joint venture between the Chinese authorities and an international mining company. In terms of the agreement, Billiton will eventualy hold […]
Former president Nelson Mandela, chief mediator in Burundi’s peace process, is to meet Burundian President Pierre Buyoya and Defence Minister Cyrille Ndayirukiye on Wednesday.
ONGERI JOHN, Dar Es Salaam | Tuesday 11.15am. THE Word Bank has blamed low levels of direct foreign investment in Africa on the constant negative reporting by Western media that portrays the continent as a “centre of misery and conflict”. World Bank African chief economist Alan Gelb said that the region’s growing economic reconstruction and […]
THE police said on Monday they have arrested a man on charges of involvement in a R350-million fraud involving NBS bank, in what they said is one of the biggest cases in the country’s history. “Vito Assante, a former bank manager from the NBS Kempton Park, was arrested on Thursday…for 108 charges of fraud to […]
SHARES in Imperial Holdings firmed on Tuesday after news that its aviation wing Safair has acquired and leased back South African Airways’ entire fleet of 13 Boeing 747-200 aircraft. By midday the stock was up 3,76%, or 200 cents, at R55,20 with 552303 shares traded. Imperial shares outshined the diversified industrial sector, which was last […]
THE Competitions Board has give Hyundai South Africa the go-ahead to sell vehicles repossessed by banks earlier this year from the brand’s previous owner, Hyundai Motor Distributors. The company’s managing director, Alan Ross, said it can now sell vehicles taken over by banks in the liquidation process. Hyundai SA has opened 35 dealerships nationwide over […]
OWN CORRESPONDENT, Johannesburg | Tuesday 4.30pm. THE Johannesburg Stock Exchange surged on Tuesday, the overall ending 1,52% or 114 points up. All counters finished strongly in positive territory, financials 1,52% or 146 points good and industrials 1,22% or 101 points better. Gold shares closed 2,08% or 21 points sharper. By late afternoon gold was trading […]
ROB DAVIES, Cape Town | Tuesday 12.50pm. THE King Commission probe into disgraced former South African cricket skipper Hansie Cronje’s involvement in match-fixing starts on Wednesday in Cape Town with 40 former and current players and officials expected to testify. Among those who will give testimony regarding Cronje’s alleged involvement in rigging matches are former […]
ZAMBIAN President Frederick Chiluba returned from a meeting with Democratic Republic of Congo President Laurent Kabila Monday to accuse DRC rebel rebel leader Jean-Pierre Bemba of failing to respect a ceasefire he signed last August. Chiluba told state television after meeting Kabila in the southeastern DRC city of Lubumbashi that Bemba’s Congo Liberation Movement (MLC) […]
FOURTEEN children were killed, and 67 others injured, when a rainstorm caused a stampede at an open-air amphitheatre in Addis Ababa. The tragedy occurred Monday at a remembrance ceremony in the Mega amphitheatre attended by thousands of schoolchildren to mark the second anniversary of Eritrea’s bombing of the Ayder school, in Mekele, 780 kilometres north […]