OWN CORRESPONDENT, Johannesburg | Tuesday 10.40am. THE Altron-Board of Executors Equity Partners has extended its R2,05-billion bid for defense and electronics group Reunert indefinitely, and the bid may turn hostile. Reunert’s board rejected the bid last month, and the consortium has mooted the possibility of taking the bid directly to the shareholders if the offer […]
BURUNDIAN president Pierre Buyoya on Saturday announced in a Labour Day speech in Bujumbura the reduction by half of citizens’ contributions to the National Solidarity Fund. All civil servants have contributed 6% of their monthly salaries while farmers and craftsmen gave 1,000 Burundian francs yearly to the fund as part of Burundi’s “war effort” since […]
MORE Nigerian public sector workers will lose their jobs to enable the government pay a new agreed minimum wage, a top official in one of Nigeria’s 36 states said on Monday. Colonel Aminu Kotangora, administrator of northern Nigerian state of Kano, said on Sunday his government will have to cut its 37000 workforce to 20000 […]
GOLD mines Randfontein Estates and Western Areas turned in satisfactory, although not sparkling, results for the March quarter, mineowners JCI said on Friday. The company said in a statement Randfontein boosted its profit from gold by 31% to R44-million, from R33,7-million in December. Production costs for the quarter were 3,5% higher than the December quarter, […]
JOHNNIES Industrial Corporation (Johnnic) said Monday it has disposed of its 8,1% stake in Adcock Ingram valued at R340-million as part of its debt retirement programme begun in January this year. The sale, which brings the company’s debt under R1-billion, is part of a process of disposing of non-core assets to refocus the company into […]
COMORAN strongman Azali Assoumani plans a mixed civilian-military government, without party politicians, informed sources said on Monday. The army chief of staff seized power in a bloodless putsch on Friday. In the next few days, Azali plans to bring together the delegates who, in Antananarivo on April 23, signed an accord on broad autonomy for […]
POLICE said on Sunday that they suspect a political motive for the murder of an African National Congress election worker in Soweto at the weekend. Police spokesman Inspector John Shiburi said Simon Ngubane (47) was on Saturday found dead in his car with two bullet wounds in the right eye and another in the back […]
MONDAY, 5.00PM: PRESIDENT Nelson Mandela on Monday said that investment needs of Africa’s vast telecommunications and information technologies markets cannot be met by the public sector alone, but require the input of the private sector. Speaking at the opening of Africa’s largest telecommunications exhibition and conference, Africa Telecom 98, Mandela said a partnership between the […]
BUS routes around the country started on a sluggish note on Monday after an agreement on Friday between unions and management ended a two week old strike. The South African Bus Employee’s Association and the four unions supporting the strike — the Transport and General Workers’ Union, the Transport and Allied Workers’ Union, the Western […]
THE Justice Department on Tuesday denied claims that changes to section 49 of the Criminal Procedure Act, governing force used by police when making arrests, is hampering the efficacy of police work. Department spokesperson Paul Setsetse said that the new section 49, due to come into effect in August, will in no way hamper police […]