THURSDAY, 12.00NOON: INVESTEC Bank has signalled its intention to expand into the North Ameriucan financial services market by buying New York-based securities firm Ernst & Company. Investec CEO Stephen Koseff, while refusing to disclose the value of the deal, said that although the new acquisition is a small operation, the purchase is the first meaningful […]

THURSDAY 12.00NOON: EIGHT groupings have made bids to government for a 100% stake in parastatal holiday resort company Aventura, the public enterprises ministry said on Wednesday. The ministry said it expects to announce a pre-qualification shortlist early next week, following which the shortlisted groups will be briefed and asked to submit bids. Government said last […]

THURSDAY, 6.30PM SHARES on the Johannesburg Stock Exchange ended weaker on Thursday after a volatile day’s trade started with large overnight sell orders and then continued to suffer as futures traders undertook basket trading. At the close the financial index was up 3,7 points at 9 937,3 and the industrial index was 33,2 points lower […]

THURSDAY, 12.00NOON: SOUTH Africa has been included for the first time in the influential government bond index published by the international JP Morgan investment bank. The index is used by fund managers worldwide as a benchmark to achievce optimum exposure to capital markets around the globe. latest index, published on October 1, SA was listed […]

THURSDAY, 11.00AM: ATHLETICS South Africa (ASA) on Wednesday announced that a massive R3,5-million has been put aside for incentives and preparation for the 1998 season. This is set to be the most profitable year for athletes as this money is double the amount allocated in 1997. ASA secretary general Banele Sindani said top athletes can […]

WEDNESDAY, 11.00AM AN idea presented to the Truth and Reconciliation Commission special hearings on business and apartheid that wealth accumulated during apartheid be taxed for redistribution has been rejected by business groups. Stellenbosch University economist Professor Sampie Terreblanche suggested an annual 0,5% tax for between 10 and 20 years on all individuals holding net assets […]

WEDNESDAY, 11.00AM: THE Bond Exchange of SA said on Tuesday it will adopt a new settlement convention from Monday as a means of reducing settlement risk and improving volumes and liquidity. At present, bond trades are settled every other Thursday. The new system involves a continuous rolling settlement convention called t+3, in which settlement will […]

TUESDAY, 5.30PM SHARES on the Johannesburg Stock Exchange ended stronger on Tuesday on continuing optimism about an interest rate cut and a higher gold price, dealers said. At the close the financial index was up 171,3 points at 10 115,2 and the industrial index was 43,9 points higher at 8 179,5 — off its day’s […]

WEDNESDAY 3.00PM: The first “official” set of South African Internet statistics has been released by the newly formed Audit Bureau of Internet Standards, affiliated to the Audit Bureau of Circulations. The figures are the first “honest” attempt by major industry players to provide for independent auditing of web sites using a common set of standards. […]

WEDNESDAY 6.30PM: THE Truth and Reconciliation Commission special hearings on the role of business during apartheid continued on Wednesday with corporations and business groups denying they benefited from apartheid, while claiming to have attempted to fight against the social system that was declared a crime against humanity by the United Nations General Assembly. Rembrandt Group […]