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/ 25 November 2003

Mandarin Mecca

Take the M2 east in Johannesburg and down the Fu Jin off-ramp near what used to be Doornfontein. For the area as we knew it is no more — the Ellis Park shopping centre behind the Johannesburg sports stadium has been rechristened China City. A wave of Chinese entrepreneurs in eastern Johannesburg form one of South Africa’s new social melting pots.

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/ 25 November 2003

Reserve Bank ‘needs to boost reserves’

Adding his voice to the chorus of economists and business people calling for more intervention by the South African Reserve Bank, Brait economist Colen Garrow has said that the bank should absorb more dollars to boost its reserves. Progress on the net open foreign currency position for October will be unveiled on Friday.

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/ 25 November 2003

Mustek introduces BEE shareholder

South African information technology company Mustek announced on Tuesday that it is to introduce a black economic empowerment shareholder. Mustek has entered into an agreement with Safika Holdings and Mduduzi Edward Gama. The transaction will take place over a five-year period.

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/ 25 November 2003

Mercedes gears up with extra cogs

Remember all those jokes about Italian tanks in WWII having four reverse gears and one forward? Well, the Germans have never shown signs of being unduly timid, so the new Mercedes-Benz 7G-Tronic gearbox with its two reverse gears to go with the seven forward does seem a little extreme.