Bidvest, the industrial group with interests in distribution, service and trading businesses, on Tuesday announced that it is to separate the role of chairperson and chief executive while launching a major new black economic empowerment (BEE) initiative.
The Financial Services Board (FSB) is investigating South African information technology company CS Holdings for alleged insider trading, the board confirmed on Tuesday. "I can confirm that we are looking at the insider trading allegations but am not in a position to discuss further details," an FSB spokesperson said.
Life expectancy in Southern Africa, the world’s hardest-hit region by Aids, has dropped to 49 and without large-scale treatment programmes it could plummet to below 35 in some countries, says a new United Nations Aids report. Food shortages hitting at least six countries are also giving Aids a ”magnifying effect”.
South African mining production for the three months to the end of May 2004 soared by 8,1% year-on-year (y/y) and was up by 2,6%, after seasonal adjustment, compared with the previous three months, Statistics South Africa (Stats SA) said on Tuesday.
South Africa’s Competition Tribunal on Tuesday released the reasons for its decision to approve the merger of LNM Holdings NV — the world’s second-largest steel marker — and South African steel producer Iscor to create Ispat Iscor. On June 8, the Competition Tribunal unconditionally approved the merger.
Retiring South African Army Chief Lieutenant General Gilbert Ramano bade the institution farewell on Tuesday, hailing its achievements and urging for its rejuvenation. Perhaps the biggest challenge the army faces is the introduction of programmes to attract young blood, he told a military parade in Pretoria.
An earthquake measuring 5,8 on the Richter scale rocked Taiwan on Tuesday as the island struggled with the aftermath of massive floods that have claimed at least 23 lives. The tremor shook high-rise buildings as authorities were still coping with the aftermath of weekend floods and mudslides left in the wake of Typhoon Mindulle.
South Africa has received approximately -million in additional United States government assistance to combat the HIV/Aids pandemic. This new injection of funding completes South Africa’s -million allocation for 2004 under the President’s Emergency Plan for Aids Relief.
Scientists in China have found away to curb smallscale outbreaks of the infamous red tide that threatens South Africa’s coastline, according to the Science and Development Network. The so-called red tides — coastal outbreaks of toxic algae — are on the increase in China.
The situation in Diepsloot remained tense after violence in the area on Monday, the police and members of the South African Civic Association (Sanco) said on Tuesday. "The situation is very bad for now. What I see is people running through the streets," said Nkosana Dube, the spokesperson for Sanco in Diepsloot.
<li><a class=’standardtextsmall’ href="http://www.mg.co.za/Content/l3.asp?ao=118259">Rubber bullets fly in Diepsloot</a>