South Africa’s multibillion-rand arms deal is slowly strangling the defence force as capital spending squeezes out operational requirements.
The Democratic Alliance won a narrow victory in a key municipal by-election contest in the Western Cape town of Swellendam on Wednesday — pipping the African National Congress by 65 votes.
South African Finance Minister Trevor Manuel has unveiled the government’s new royalties regime for minerals, oil and gas, which sees royalties ranging from 1% to 8% of gross sales value charged on a quarterly basis.
De Beers’ (AGL) Supplier of Choice strategy will stimulate competition and drive consumer demand for diamonds, says the diamond giant’s chairman, Nicky Oppenheimer.
The JSE Securities Exchange South Africa (JSEunleashed its fury on luxury goods group Richemont on Thursday, after the group said in a trading update that its operating profit for the financial year to March 31 would be below market expectations.
United States embassies and consulates in South Africa were closed to the public for security reasons on Thursday.
War costs, but it is unclear who will pick up the tab. George Bush is not financing this campaign through taxation. Instead the president is cutting taxes — sending a welfare cheque to the wealthy — and raising military spending.
Staff at the United States consulate in Durban were evacuated on Thursday morning after a bomb threat, KwaZulu-Natal police reported.
Land Affairs Minister Thoko Didiza says she will not recommend to Cabinet that South Africa follows the same land reform policy as Zimbabwe.
Draft legislation to tighten banking regulations and ensure banking executives act with skill and care has been tabled in Parliament. The Banks Amendment Act seeks to provide depositors protection against exploitation by means of reckless, negligent or fraudulent management of the bank.