STRONG profits and sales gains reported on Thursday by Swiss luxury goods and tobacco group Richemont confirmed a rebound in key Asian markets and helped lift luxury goods stocks in early trading across Europe. Richemont posted a 19,6% gain in attributable profit for the year ended March 31, driven largely by higher earnings in its […]
MANAGEMENT and unions at Anglo-Dutch oil group Shell in Nigeria are meeting for the second time in two days on Thursday in a bid to end a four-day-old pay strike, company officials said. A Shell official said that Shell offices in Lagos, Warri and Port Harcourt were shut by the strike which, if it is […]
A UNITED STATES-based technology research firm ranks South Africa’s cellular phone service as amongst the world’s most expensive, along with Brazil, Colombia, India and Mexico. The Yankee Group’s finding is based on a comparison of purchasing power, or how expensive cellular service is compared to other standard goods and services in any particular country, rather […]
ZIMBABWE’S army has been deployed in the western Matabeleland province to forestall violent protests by villages angered by the slow pace of land redistribution. The Daily News reported that tension has been rising over the re-allocation of land from several farms acquired by government from whites to resettle landless blacks. More than 1000 villagers have […]
INTERNET-based media company Moneyweb had a successful listing on the JSE’s Development Capital board on Thursday. The share opened at 180 cents (issue price 100 cents), reached a high of 208 cents and a low of 168 cents. A total of 10-million ordinary shares were issued of which 1,5-million were allocated to Moneyweb subscribers. The […]
NOT suprsingly Lance Klusener topped the batting averages at the 1999 cricket World Cup. The player of the tournament played eight innings in nine matches, and was not out in six of them. With a run total of 281 — including a two unbeatedn 50s and the highest tally of sixes — he finished with […]
A STUDENT at Yaounde University in Cameroon has isolated an active substance, drawn from a tree native to Cameroon, that may be effective against Aids, the university said in a statement on Saturday.”The solution to problems provoked by Aids may come from Yaounde University,” rector Jacques Fame Ndongo said, adding that the substance apparently prevents […]
UGANDA is accusing the Sudanese embassy in neighbouring Kenya of coordinating bomb and grenade attacks which have left 55 people dead and 183 injured in Kampala since 1997. In the past, Sudan has accused Uganda of supporting the rebel Sudan People’s Liberation Army and Kampala in turn accuses Khartoum of backing rebels fighting the Ugandan […]
FOLLOWING the drop of the repo rate, or Reserve Bank overnight lending rate, to 15,222% on Thursday, a rate cut has become imminent. The repo rate is now close on 400 points lower than the current prime lending rate of commercial banks, at 19%. At present, such a 400 point margin usually triggers a prime […]
SUDANESE President Omar el-Bashir said on Friday that his government is working toward creating a strong Islamic state that will not succumb to any outside pressure. Despite much resistance, el-Bashir said that Sudan during his 10-year leadership has never deviated from advancing Islamic goals. A strong Islamic nation would lead the world to respect Muslims, […]