THE Ghanaian government and central bank officials have been in intensive discussions since Monday on the future of the Bank for Housing and Construction and Co-operative Bank, which have been liquidated following heavy losses. The government has, meanwhile, approved a scheme to protect depositors of the two banks. Government Monday closed down the two banks […]

OWN CORRESPONDENT, Cape Town | Thursday 6.00pm. THE leading yacht in the Cape to Rio 2000 yacht race, the Californian maxi Zephyrus IV, is expected to cross the finish line in Rio de Janeiro early on Friday local time, organisers said. At 07:00 GMT Thursday, the yacht, skippered by Robert McNeil, was only 255 miles […]

FIVE people were killed on Wednesday and six were injured when gunmen attacked a bus in the north of the Somali capital, Mogadishu. The gunmen sprayed the bus with bullets without warning at the north Mogadishu Sana bus station, according to the witness, who was among the passengers. Among those killed was a wealthy businessman, […]

OWN CORRESPONDENT, Lagos | Thursday 11.00am US oil giant Texaco has struck oil off the coast of Nigeria with a find estimated at around one billion barrels, valued at $25-billion at current prices, the company confirmed Wednesday. Texaco Overseas Oil Corporation and a Nigerian partner, FAMFA Oil, made the find in a deep-water offshore field […]

CREDIT rating agency Fitch IBCA on Monday affirmed the national claims paying ability of South African insurer Santam Ltd at AA+ and its international claims paying ability at BBB. The decision followed Santam’s R1,58-billion offer for rival Guardian National. Santam will finance part of the purchase through a R1-billion ights issue and has said the […]

OWN CORRESPONDENT, Johannesburg | Thursday 2.00pm BANKS owed an estimated R1,3-billion by Hyundai Motor Distributors have told Hyundai Motor Corporation that it has until Friday to back a plan to sell the failed car dealer, or they will liquidate its assets. ”Officials of the Hyundai Motor Company of Korea were today [Thursday] requested by the […]

EXCESSIVE rainfall in parts of the Northern Cape has damaged up to 45% of the grape harvest in the region, leaving the crop down 25% on last year’s, according to industry figures. Excessive rain, which causes crop decay, is estimated to have lopped more than R200m off the income of grape growers in the Orange […]

MARTIN PARRY, Melbourne | Thursday 3.30pm. THE African tennis express was derailed as three stars crashed out of the Australian Open, leaving veteran Wayne Ferreira the only one on track Thursday. Leading the exodus was women’s eighth seed Amanda Coetzer who had no answer to lowly American wildcard Kristina Brandi. The 28-year-old South African was […]

OWN CORRESPONDENT, Harare | Wednesday 4.30pm. THE Zimbabwe Cricket Union has been rapped over disciplinary action against a black player during a series against Sri Lanka last month, but cleared of racism, an official said on Wednesday. Charges of racial bias in the sport, which is dominated by white players here, were made in government […]

STEVEN MANN, Cape Town | Wednesday 4.50pm. THE 75-foot sloop Zephyrus IV had opened up a big lead over its nearest rival Sagamore in the Cape to Rio yacht regatta on Wednesday, and with just over 500 nautical miles to go to Rio de Janeiro it seems assured of winning the race. While the two […]