THE Libyan national oil company’s budget has been reduced by 40% because of lower crude oil prices and international sanctions, an industry journal reported on Monday. The National Oil Corporation budget for 1999 was $500-million, a steep drop from the previous year’s budget of $850-million, the weekly Middle East Economic Survey said. The newsletter attributes […]

IN a move that will make it the largest individual financial planning business in the country, Alexander Forbes on Thursday said it had acquired the Fincorp business from Brait. A team of 19 people from Fincorp, headed by Vernon Cresswell, will join Alexander Forbes with effect from January 1. The expanded Alexander Forbes financial planning […]

CAPE Town was largely brough to a standstill on Monday when a power cut left hundreds of thousands of commuters stranded and hospitals without power. SABC news reported on Monday evening that city hospitals were unable to perform operations and some outpatient departments had to be closed. The cut, which started at 11pm on Sunday […]

MAIL & Guardian Chief Executive Mike Martin announced on Monday he is to quit after nine years with the M&G. M&G Media Ltd chairman Bob Phillis said the board accepted Martin’s resignation on Friday. The name of a successor will be announced shortly and Martin will stay with the company until May 31 to assist […]

THE centre-left Peoples Democratic Party (PDP) of former military ruler Olusegun Obasanjo won an overall majority in both houses of the new Nigerian parliament, according to unofficial results compiled on Monday. The PDP held 56 seats in the 109-seat senate with some states still to return results and 181 seats in the 360-seat House of […]

A Mail & Guardian cartoon which appeared more than two weeks ago depicting Zimbabwean President Robert Mugabe as a naked emperor, is gaining a cult following in Zimbabwe. The independent Standard newspaper reports that the cartoon — which shows a journalist barking: “..and next time show some respect when describing his clothes.” — is being […]

GREECE does not intend to move three associates of Kurdish rebel leader Abdullah Ocalan out of its embassy in Nairobi, embassy spokesperson Forte Yanopulous said on Monday. Asked if the embassy was making plans to relocate three women who have been holed up in the building since Ocalan’s capture in Nairobi on February 15, Yanopulous […]

MPUMALANGA’S third largest hospital, Rob Ferreira Hospital, warned on Monday that patients would have to bring their own bedding and food for the next six weeks because the hospital has run out of money. Eskom recently threatened to cut electricity to the Nelspruit hospital because it had failed to pay an outstanding bill of R500000. […]

TRADE unionists in the Northern Province are set to make history this week when they take a traditional leader before the Commission for Conciliation, Medication and Arbitration for the first time for unfair labour practices. Zebediela tribal Chief Kgoshi Sello Kekane will have to explain on Wednesday why he fired his administrative clerk immediately after […]

ETHIOPIAN warplanes on Sunday bombed the airport serving the Eritrean Red Sea port of Assab, Ethiopia’s government spokeswoman said amid conflicting reports of the damage caused. Sources in the Eritrean capital, Asmara, while confirming a raid had taken place, said the 12 bombs dropped by Antonov warplanes fell wide of the airport’s runway. The bombing […]