8The Johannesburg Stock Exchange’s (JSE) financial index looks set to defy gravity. Neither currency turmoil in the Far East, fears of overheating American markets, nor fluctuating hopes of an interest rate cut seem to dampen its lively spirit. Dealers say the major problem is that the financial sector is being driven by speculation, hope and […]

Andy Duffy The Independent Development Trust (IDT) has uncovered an alleged R2-million fraud involving two staffers and an employee of the agency’s auditing firm, Deloitte & Touche. The staffers, who helped administer funds for development projects across the country, allegedly signed cheques for themselves. The Deloitte & Touche official, seconded to the agency as a […]

THURSDAY, 12.30AM: JSE shares ended lower on Thursday as the market drew breath from the recent bull run to indulge in a little profit taking. The all gold index dropped by 3,9 points to close at 802,5 while the industrial index fell 23 points to a 7 969,4 close. The financial index broke record setting […]

THURSDAY, 6.00PM: THE Nigerian military trial of 26 alleged plotters in a military coup against the regime of General Sani Abacha may be opened to “observers”, according to a Nigerian defence ministry spokesman. “Anyone who wants to witness the trial as an observer should write to the president of the tribunal [to] seek permission,” said […]

THURSDAY, 5.00PM: Windhoek Observer editor Hannes Smith was granted R1000 bail after appealing his prison sentence for contempt of court in the Windhoek High Court on Thursday morning. Smith, 64, was jailed last Friday on contempt of court charges, after failing to produce documents potentially vital to the second inquest into the death of assassinated […]

THURSDAY, 1030AM: PETER POLLOCK, convenor of South Africa’s cricket selectors, on Wednesday named a 13-man squad to face Pakistan in the second and third Tests. Out go struggling bats Hershelle Gibbs and Daryll Cullinan, as does Jonty Rhodes. Fit-again skipper Hansie Cronje is back, while spinner Paul “Gogga” Adams and swinger Fanie de Villers also […]

WEDNESDAY, 5.30PM: THE first cricket Test between South Africa and Pakistan was finally abandoned shortly after lunch on Wednesday’s final day with the home side adding 44 runs without loss to their first-innings tally of 364. The start of the match was delayed for a day following an assault on two Pakistani bowlers, and Tuesday’s […]

TUESDAY, 12.30AM: SOUTH African Rugby Football Union president Louis Luyt was accused of making racist remarks about former Sarfu vice-president Brian van Rooyen, author of the Van Rooyen dossier about the state of South African rugby, when he took the stand in the Pretoria High Court on Monday. Luyt was confronted with allegations that he […]

TUESDAY, 1.30PM: THE Southern African Development Community, currently chaired by South Africa, has asked the international community to write off the debt of its member states. The debt burden is retarding the SADC programme of regional integration. At a debate on the debt crisis in Sweden, SADC executive secretary Kaire Mbuende said as SADC debt […]