SOUTH AIRWAYS has shed 1064 jobs since last year in the company’s build-up to partial privatisation, says executive manager for communications, Victor Nosi. Nosi said at the weekend only 94 people were forcibly retrenched and the remaining 970 opted for voluntary retrenchment. The retrenchments and voluntary retrenchment packages were across the board and included senior […]
TUESDAY, 5.00PM: ZIMBABWE’S United Merchant bank, which belongs to the high-profile and controversial black businessman Roger Boka, has suffered a run on deposits which it cannot sustain. When Boka’s bank opened three years ago, it was criticised for being under-capitalised. Many of the country’s financial institutions are exposed to the bank, which closed for a […]
SHARES in international tobacco to luxury goods company Richemont surged in Johannesburg on Wednesday following news an international investment bank had increased its target price for the stock. Shortly By 10:30 Richemont shares were up nearly 6% to R98,00. Credit Suisse First Boston said on Wednesday that it has increased its targeted share price on […]
RESCUERS workers remain at least 150m away from the position where two missing miners have been trapped underground for six days after an earthquake in Welkom in the Free State on Friday. Anglogold spokesman Andries van Zyl said on Tuesday that rescuers are approaching the area — where Lawrence Tsolo and John Delekile were working […]
GHANAIANS on Tuesday celebrated the enthronement of their new Ashanti king, who was officially proclaimed the new occupant of the sacred Golden Stool on Monday night in Kumasi.In a private ceremony that began at midnight, 48-year-old Nana Kwaku Dua underwent final rites to become the 16th occupant of the Stool, believed to have fallen from […]
SOUTH African Airways annouced on Tuesday that it has signed a memorandum of understanding outlining a long-termpartnership between SAA and Cathay Pacific Airways. Areas of co-operation outlined in the MOU include codeshare services, frequent flyer programmes (FFP), and ground handling arrangements. South African Airways is Cathay Pacific’s sixth codeshare partner. Cathay Pacific commenced flying to […]
SARAH BULLEN, Cape Town | Wednesday 3.00pm PRODUCER inflation, as measured by the change in the Producer Price Index (PPI), rose an annualised 5,5% in March, up from February’s rise of 5,0%, Statistics South Africa said on Wednesday. From February to March PPI increased by 0,3%, while the seasonally adjusted index increased by 0,9%. The […]
GHANA have withdrawn from the race to host the 2006 World Cup tournament, a top South African football official said on Monday. South Africa World Cup bid chief executive Danny Jordaan said from Denmark he was informed that Ghana had quit while attending the world youth championships, which ended on Saturday in Nigeria. Jordaan is […]
TUESDAY, 2.30PM: PETROLEUM product sales in South Africa rose 4,5% in the first quarter year-on-year, a sharp increase last year’s first quarter increase of 1,3%, according to the South African Petroleum Industry Association. Petrol accounted for over half of total sales. Petrol sales increased 2,4%. Diesel sales rose 7,1%, jet fuel sales 10,4% and illuminating […]
THE Lagos Stock Exchange has begun computerised trading on an automated trading system, ending 37 years of floor trading, officials at the exchange said on Wednesday. The introduction of computerised trading Tuesday is expected to boost trading volume on the market, which has grown sharply in recent years.