BLACK empowerment Worldwide African Investment Holdings has acquired 20% of South African oil group Engen from Malaysian national oil company Petroliam Nasional Berhad. Business Day reports that the deal follows the related acquisition of Worldwide subsidiary Zenex by Engen last month. Petronas bought an initial 30% stake in Engen for R1,7bn in 1996 and increased […]

THE Congress of Traditional Leaders of SA on Wednesday defended the practise of paying the country’s unelected traditional leaders from the public purse, saying they provided valuable service to more than 18 million people. Those leaders which held public office “of a political type” were entitled to salaries, pensions, medical aid benefits, subsidised accommodation, and […]

CANADIAN Prime Minister Jean Chretien left Nigeria on Wednesday for South Africa at the end of a two-day official visit. The Canadian leader is due to attend the Commonwealth summit in Durban, starting on Friday. While in Nigeria, Chretien met President Olusegun Obasanjo and other top officials. At a joint press conference with the Nigerian […]

THE South African Chamber of Business said on Tuesday that its Business Confidence Index continued its rise in October and now sits above the level as at the start of the 1998 crisis. Sacob said that the index of 104,3 for October is now above the level as at the start of the 1998 crisis […]

THE chief executive officer of Armscor, Llew Swan, on Wednesday announced his resignation with immediate effect in a statement in Pretoria. Swan was contracted by the government to help the company in its transition. Armscor said: “Mr Swan has made an invaluable contribution to the country by negotiating government packages for the national defence force.” […]

THE Road Accident Fund has made an urgent request to Government to increase the levy on the price of petrol and diesel to save the fund from running into serious cash flow problems. Sake reports that fund says a 10% increase in the levy will be necessary for the payment of road accident claims. This […]

AUSTRALIAN gold miner Acacia Resources has formally recommended that its shareholders accept a takeover bid from the world’s largest gold producer, AngloGold. AngloGold has offered 3,5 of its shares for every 100 Acacia shares, a 24% premium to the share price before the bid and a 41% premium on the price before fellow Australian gold […]

EMMA THOMASSON, Johannesburg | Thursday 7.35pm BUSINESS leaders on Thursday urged Commonwealth governments to speak with one voice at the forthcoming round of World Trade Organisation talks and push for more market access for its mostly poor members. ”The Commonwealth should advance a common position at the WTO,” the Commonwealth Business Forum said in its […]

THE international environmental group Greenpeace on Wednesday called on the South African government to co-ordinate commonwealth opposition to European plutonium and high level nuclear waste shipments to Japan at this week’s Durban Commonwealth Heads of Government Meeting. At a press conference aboard the Greenpeace in Cape Town harbour, the environmental group warned of the imminent […]