SOUTH African state-owned defence group Denel says it will refocus its ordnance unit to counter a shrinking global arms market and hopes a partnership with BAE Systems will give it access to NATO markets. Acting Ordnance group executive director Louis Dirker said the world market for military small arms had contracted to a tenth of […]

AVIS Southern Africa, the South African-based auto rental group, says it does not expect to achieve an earnings per share growth for 2001 due to margin pressure. Continuing low economic growth in southern Africa, high fuel prices and decreased foreign visitors would also limit earnings potential. ”Although there are some short-term pressures on earnings growth, […]

AFRICAN Oxygen (Afrox) has reported a 28% jump in revenue for the year to September 30, 2000, after recording good growth in its healthcare business. Afrox annual revenue rose to R4.7bn from R3.6bn in the previous year. The group attributable earnings per share was 88.5 cents from 76.9 cents, while a dividend of 47 cents […]

SOUTH Africa’s African Life Assurance Company (Aflife) has reported a sharp drop in its interim earnings, but said the foundations for future shareholder wealth creation were firmly in place. Headline earnings per share plunged to 64.7 cents in the six months to September 30 from 134.7 cents the previous year, hit by a range of […]

LUCIA MUTIKANI, Johannesburg | Tuesday SOUTH African new vehicle sales will exceed expectations of 15% growth during 2000, laying the base for further expansion of up to 10% in 2001, manufacturers said this week. Sales volumes shrunk eight percent in 1999, knocked by the lingering effects of the 1998 emerging markets crisis which saw domestic […]

OIL prices extended a heavy losing streak on Tuesday, prompting dealers to herald the end of the two-year-old bull run that has slowed world economic growth. London Brent blend closed a sharp $1.50 weaker at $27.84 a barrel and has fallen by $4.04 a barrel in the last three trading days. US light crude plummeted […]

OWN CORRESPONDENT, Johannesburg | Monday TOP global economists are urging the South African government to speed up land reforms as part of measures suggested to boost sluggish economic growth, says finance minister Trevor Manuel. Manuel said this was one of the issues which came up at a brainstorming session at the weekend with visiting economists, […]

THE ruling Chama Cha Mapinduzi (CCM) party has taken a narrow early lead in Zanzibar’s elections according to results announced on Tanzanian state radio. The radio said CCM had won eight of 15 constituencies counted so far – including one on the opposition stronghold of Pemba island. The opposition Civic United Front (CUF) had won […]

Own Correspondent, Johannesburg | Saturday SOUTH African telecommunications regulator Icasa has blocked mobile phone operators MTN and Vodacom’s bid for access to a higher capacity, better quality 1800 MHz GSM frequency after public hearings raised competition concerns. ”Spectrum is a scarce national resource…It is the responsibility of all governments and regulators to ensure that all […]

SOUTH African poultry producer Rainbow Chicken Ltd’s restructuring and cost-cutting drive is beginning to pay off, with the company reporting a turnaround in earnings in the first half, posting a profit of R2.29m after a loss of R40.72m in the same period last year. Rainbow expects full year profits to be higher than those posted […]