Defence parastatal Denel reduced its net loss from R1,363-billion to R549,1-million for the year to the end of March — a 60% improvement. This was achieved on the back of a 17,8% growth in revenue from R2,773-billion to R3,268-billion. Gross profit for the 12 months rose to R754-million — a 675% improvement on the previous year’s profit of R131,1-million.
The world’s biggest Aids conference closed on Wednesday with a call for the development of child-specific drugs to ensure millions of HIV-infected children not only survive to adulthood, but also live without damaging side effects from their treatment.
Zimbabwe is to import 200 000 tonnes of the staple maize from Tanzania to avert widespread food shortages following a poor harvest, state television reported. The report said efforts were under way to bring in another 200 000 tonnes from Malawi.
The Tour de France, which began with such high hopes when millions turned out to cheer its grand départ in the south of England two and a half weeks ago, was in disarray on Tuesday night after an annoucement that the pre-race favourite, Alexandr Vinokourov of Kazakhstan, had tested positive for blood doping.
The increase in South Africa’s consumer price index excluding mortgage-rate changes (CPIX) for metro and other areas, which is used by the South African Reserve Bank for its inflation target, was at 6,4% year-on-year in June, the same as in May, Statistics South Africa (Stats SA) said on Wednesday.
Iran warned on Tuesday that it would consider taking ”illegal” steps, including possible abrogation of the non-proliferation treaty, if further United Nations sanctions are imposed because of its nuclear programme. The warning was given by a senior Iranian official in an increasingly fraught war of nerves.
Driving in the United Kingdom, I discovered, is not as entertaining as it is here, because there’s so much traffic that you rarely get a chance to speed — and when you do, Big Brother is watching. Signs light up and chant "You’re gonna go to the devil!" when you exceed the speed limit by two miles per hour, writes Gavin Foster.
Initial Public Offerings (IPOs) worldwide surged in the second quarter of 2007 with $88-billion raised in 531 IPOs, making this the second most active quarter of the last five years, both in number of IPOs and capital raised, according to the inaugural quarterly Global IPO Report from Ernst & Young.
Thirteen hostages were rescued from a supermarket in Mthatha on Tuesday night after being held hostage by a gang of gunmen. Eastern Cape police said the hostage takers had escaped. Guards were collecting money inside the Boxer supermarket on Callaway Street when the gang stormed into the shop.
The African Olympic body is expected to take over the running of the All Africa Games to attract more private sponsors and top athletes, its president said on Tuesday. The Games are currently organised by the Supreme Council for Sports in Africa, the sporting wing of the African Union.