OWN CORRESPONDENT, Johannesburg | Wednesday 3.45pm. ESKOM, the electricity parastatal, has managed to cut its municipal debt by more than two-thirds in four years, due in part to a tougher stance against defaulting municipalities. In 1996 it stood at R1,54-billion, but Eskom’s Butana Nkosi said on Wednesday it is now at the R450-million mark. Nkosi […]
A 30-YEAR-OLD University of Durban-Westville student has died after being hit by a rubber bullet during a skirmish between students and police on the campus earlier in the day. That’s after about 200 students went on the rampage, overturning a security vehicle, breaking windows and trashing rubbish bins. The violence was sparked by a disagreement […]
OWN CORRESPONDENT, London | Wednesday 1.00pm. THE world’s leading diamond miner De Beers announced it is selling its only direct holding in a Russian mine to Alrosa, Russia’s leading diamond miner. A spokeswoman for De Beers said the company had hoped there would be a relaxation in Russia’s legislation to the benefit of foreign investors, […]
ALAN FINLAY & Reuters, Johannesburg | Wednesday 11.20am. LOCAL markets slumped in early trade on Wednesday, as investors took a dim view of a US rates hike of 50 basis points, which boosted the Dow Jones overnight. Analysts say the hike may put pressure on the rand and result in an interest rates hike in […]
OWN CORRESPONDENT, Asmara | Tuesday 6.00pm. ETHIOPIA has stepped up its assault in the border war with Eritrea in a bold offensive into west of the country. Eritrea in response has repeated its call to the United Nations to take action against the “aggressor” in what is thought to be Africa’s bloodiest and most senseless […]
ALAN FINLAY, Johannesburg | Wednesday 9.50am. DRAMATIC new evidence released by a United States laboratory proves that the ill-fated Helderberg, which went down just off Mauritius on November 28 1987, killing 159 people, was carrying a “deadly” cargo. The evidence, which has been released by the Forensic Audio Laboratory in the US, has been obtained […]
THE World Bank’s outgoing Vice-President Jean-Louis Sarbib has condemned reports in the Economist which depicted Africa as an economic and political basket case. Speaking at a conference in Montreal, Sarbib said it is shortsighted to perceive the entire continent as a high-risk destination for trade and investment and each region and country should be investigated […]
GRAHAM GRIFFITHS, London | Wednesday 10.35am. KEY strike bowler Heath Streak has given Zimbabwe the perfect boost for their first test match at Lord’s by recovering from knee trouble in time to face England. Zimbabwean captain Andy Flower said after his players had practised on Tuesday at Shenley Cricket Centre, a few miles north of […]
THE South African Chamber of Business has warned that the Congress of South African Trade Unions must accept that it is also responsible for the country’s economic well-being. Sacob’s policy director Henry Makupula said Cosatu should “seriously consider” the consequences of strikes given the “fragile nature of the South African economy”. He has also called […]
CRUDE prices slipped lower in midday trading on Wednesday following the publication of US supply figures and as the market digested comment from the world’s leading producer Saudi Arabia about expected output levels. In London, the benchmark Brent crude for July delivery was trading three cents lower at $27,8 a barrel. In New York on […]