This week’s results by banking group Absa emphasise the bank’s attraction to Barclays, and the British bank could make it soar. On Monday, South Africa’s largest retail bank unveiled an increase in headline earnings of 23,3% and an average return on equity of 25,5%, a figure that analysts expect to see increase.
"Let the foreigners go back to their own countries and sort out their own problems." So said a principal last year while rejecting an invitation for his school to participate in an event that explored xenophobia.
High local car prices came under the spotlight recently as the Competition Commission highlighted possible abuses in car retailing by leading manufacturers and dealerships. Its findings on what appear to be restrictive marketing practices in franchising and the operation of discounts will be forwarded to the Competition Tribunal.
Despite what conspiracy theorists might be thinking, the dog poo found last week under Mangosuthu Buthelezi’s seat in Parliament was not placed there by goons in the employ of disgruntled African National Congress MPs. The police have established that the guilty party was a security officer and his dog, and if the police say it, especially if it’s about their employers, it must be true.
A reduced version of Afrikaans Sunday paper Die Wêreld will be published on Sunday after all, but the future of the paper still looks shaky. Editor Maryna Blomerus today confirmed that a smaller than usual print run will be distributed only in Gauteng, but could not say exactly how many copies would be printed.
Both Telkom and MTN will announce that they made bucketloads of money in the past financial year. Neither will be able to entirely convince shareholders that the good times will continue indefinitely. Telkom plans to present its results on Monday.
The United Nations mission in Burundi, known as Onub, has stepped up its military presence across the country ahead of communal elections set for next Friday. This comes after 17 Forces for National Liberation (FNL) fighters were killed. The FNL is the only rebel group that has yet to be integrated into the transitional government.
The devastating judgement in the Schabir Shaik corruption case has forced the spotlight directly on to Deputy President Jacob Zuma, who has effectively been found guilty of corruption, though he was not an accused.
The Zimbabwean government has cracked the whip on an errant deputy minister for violating government policy and has ordered the minister of anti-corruption and anti-monopolies to launch an investigation into his activities. Bright Matongo has been personally instructed by President Robert Mugabe to vacate land owned by Tom Beattie.
What makes the Afrikaans tabloid Son such a runaway success? And why are the tabloids in general doing so well, while the more established broadsheets seem to be struggling to increase or even uphold their circulation? One cannot answer these questions without taking into account the far-reaching, liberalising changes that have taken place in South Africa over the past 10 years.