Rand Merchant Bank on Monday unveiled its latest securitisation of auto loans and leases for BMW Financial Services — a R1,4-billion issue consisting of nine categories of notes of varying maturities. The notes, which will be listed on the Bond Exchange of South Africa on April 15 this year, target two principal classes of investor.
The Israeli-Palestinian ceasefire, in place for two months, has been given its stiffest test by the Israeli army killing three teenagers in the Gaza Strip on Saturday, shortly before the Prime Minister, Ariel Sharon, left for a meeting in Texas on Monday with United States President George Bush.
A dark-horse candidate for pope, capable of bridging the divide between the Europeans and the Latin American Roman Catholic cardinals, appears to be emerging in the shape of the Patriarch of Portugal, Jose da Cruz Policarpo. A week before the cardinals start voting to elect a pope, the 115 men will pause in their devotions to canvass each others’ opinions on the next pontiff.
The party that introduced apartheid and enforced racial segregation in South Africa for nearly 50 years disbanded and apologised for its racist policies on Sunday, after an attempt to reinvent itself failed. The dissolution of the New National Party was sharply criticised by the former leader and apartheid South African president FW de Klerk.
The Mégane CC should feature high on your shopping list if you enjoy the wind in your hair. Chic and classy is how I’d describe it. At R270 000 this coupé-cabriolet is sensibly priced (its closest challenger, the Peugeot 307cc, comes in at R299 900), and it is extremely attractive — with the hardtop up or down. Getting the top down will take you just 22 seconds.
Last October I tested BMW’s 120i and, like any hack, I wanted more power. In the case of the 120i petrol version, both automatic and manual versions reflected a lack of grunt and I waited patiently for the diesel version to arrive. Finally, a magnificent 120d arrived for testing, fitted with the optional 17-inch alloy wheels and electronic sliding sunroof.
Ingolstadt carmaker Audi has launched its new A4 range, comprising 11 models with three engine derivatives. At the media launch in Mpumulanga, Audi pointed out that these are not just facelift versions of the previous range, but brand new models in every way — only the roof remains similar.
In the past 60 days South Africa has seen the arrival of no fewer than seven new Citroen models. Last month the French car manufacturer released its face-lifted C5 range, a trio of luxury family saloons that boast high standards of fitment, comfort and safety. All are well-priced and positioned to rival the BMW 3-series, Volvo’s S40 and Audi’s A4 models.
Production of the Hi Ace and Stallion vans has stopped with the introduction of the Quantum. Toyota has always enjoyed a very strong light commercial vehicle (LCV) presence, having held as much as a 30% market share in the past — although this has declined to 26% recently.The arrival of the Quantum range of LCVs, the company believes, will allow it to increase that share again
Mergers and acquisition activity continued its recovery in 2004, with BEE deals providing a now customary boost to liven "a controversial year", according to the 14th Ernst & Young mergers and acquisitions survey. The survey found that in 2004 the number of mergers and acquisitions deals increased from 790 to 823. The value of deals rose from R150-billion to R177,4-billion.