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/ 24 January 2005
Retail group Edcon announced on Monday that it is to acquire clothing chain Topic(s) at a discount to net asset value by using cash resources. Pending approval from the Competition Authorities, and a due diligence investigation, the transaction will be effective from May 29 2005.
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/ 24 January 2005
Diversified mining group Kumba Resources on Monday came close to an all-time high on continued speculation about the settlement prices for iron ore, which are currently being negotiated. At 9.40am, Kumba was quoted at R57,49, up 28 cents or 0,5% from its Friday close.
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/ 24 January 2005
Johannesburg- and London-listed financial services group Investec plans to raise R522,5-million via the issue of five million new preference shares at an issue price of R104,5-million, the company announced on Monday. The preference share offering opens on Monday and closes on Friday February 11.
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/ 24 January 2005
Forty members of Parliament implicated in the travel voucher scandal will be informed from Monday that they will be prosecuted. National Prosecuting Authority spokesperson Sipho Ngwema would not say what political parties they belonged to, or whether the state would be demanding that they pay bail.
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/ 24 January 2005
The JSE Securities Exchange (JSE) is not aware of any of its grain broker members being in financial difficulty and there are no signs that a grain broker member could be placed in default, JSE agricultural products division general manager Rod Gravelet-Blondin said on Monday.
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/ 24 January 2005
Private capital flows to South Africa surged by 825% in 2004 to $5,312-billion from $574-million in 2003, according to data supplied by the Washington-based Institute of International Finance, an association of the world’s banks and financial institutions.
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/ 24 January 2005
The bus is so crowded that a small schoolboy has to perch precariously on the steps above the doors that slam open and shut at every stop. Passengers of Johannesburg’s Metrobus are annoyed by the constant problems they experience. Delayed and overcrowded busses, breakdowns and busses that simply do not arrive are all causes of their frustration.
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/ 24 January 2005
A man and a woman are being questioned at the Tugela Ferry police station following the murder of five children at Msinga near Greytown in the KwaZulu-Natal Midlands, South African Broadcasting Corporation news said on Monday. The suspects are reportedly being questioned in connection with the murder of four girls and one boy.
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/ 24 January 2005
The third day of the fifth and final Castle Lager/MTN cricket Test between South Africa and England at Supersport Park on Sunday was a day of frustration for players and spectators alike. With more than three hours lost because of lightning, rain and bad light, only 46 overs and two balls were bowled throughout the day.
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/ 24 January 2005
Two months of ”people’s power” on the streets and in the squares of Ukraine reached a celebratory climax on Sunday when Viktor Yushchenko finally took the oath as president, promising the massed ranks of the Orange Revolution a fresh start after freedom’s triumph over tyranny.