TUESDAY, 3.30PM THE African National Congress in Mpumalanga on Tuesday nominated its chairman, provincial Premier Mathews Phosa, as its choice for the party’s deputy presidency. Phosa’s nomination, as well as the nomination of Deputy President Thabo Mbeki for ANC president, will be tabled by the Mpumalanga branch at the ANC’s national conference in North-West in […]
TUESDAY, 3.00PM THE Unted States and other countries will withhold economic aid to Democratic Republic of Congo President Laurent Kabila if he “plays games” with a United Nations investigation into allegations that Kabila’s troops massacred thousands of Rwandan Hutu refugees, according to US ambassador Bill Richardson. “Well, the jury is still out on Kabila,” Richardson […]
TUESDAY, 11.00AM TRANSPORT parastatal Transnet’s loss-making parcel delivery service PX and its road transport operator Autonet are to be 100% privatised, Transport Minister Mac Maharaj said on Monday. Transnet has been forced to absorb PX’s whopping R500-million deficit, and is likley to report huge losses next week as a result. Maharaj’s announcement has angered labour […]
TUESDAY, 1.30PM: SOUTH African Football Association president Molefi Oliphant shocked his audience at a press conference on Monday when he did not know the countries where Bafana Bafana overseas based players are plying their trades. In a conference called to announce tha cancellation of Bafana Bafana’s scheduled August 6 friendly in Cape Town, Oliphant made […]
MONDAY, 4.00PM THE European Union on Tuesday announced it is to fund a Southern African initiative to eliminate deadly landmines from the region, and especially in Mozambique and Angola. The EU contribution of 2,07-million European Currency Units (about $2,35-million) will cover the use of satellite and other technology to locate and count the estimated 20-million […]
HEAD-HUNTER ACQUITTED NICHOLAS MBAMBATHO, alias ‘Chief’ Nicholas Gcaleka, the man who made a much-publicised trip to Scotland last year to retrieve the skull of Xhosa king Hintsa, was on Monday acquitted in the Umtata Magistrate’s Court of fraud involving the purchase of large amounts of liquor. A second fraud count involving the purchase of R65 […]
TUESDAY, 11.00AM GOLD mines managed by Randgold & Exploration on Monday posted disastrous results for the June quarter, reporting their worst-ever aggregate performance with a taxed cash loss of R41-million, from a R55-million taxed profit in the March quarter. Apart from the declining bullion price, Randgold mines suffered setbacks from undergorund fires, seeismic activity, flooding […]
TUESDAY, 11.00AM THE Johannesburg Stock Exchange experienced another record day on Monday, as new highs on the financial and industrial indices saw the all share index hit a new record high of 7 490,8, up 46,8 points over the day, based somewhat on market expectations of good credit extension and money supply figures. Industrials added […]
NP THREATENS DEFECTORS THE National Party has threatened legal action against the eight Pretoria city councillors who recently defected to Roelf Meyer’s New Movement Process if they do not vacate their council seats. Each of the councillors will receive a written ultimatum to this end in the next few days, NP Pretoria regional chairman Fanus […]
MONDAY, 11.00AM AS rumours of an imminent interest rate cut continued to abound, the benchmark R150 government long bond on Friday broke through the 14% yield level amid bullish expectations about economic indicators to be released this week. The R150 traded between Thursday’s closing level of 14,03% and 13,955%, before closing at 13,98%. The R150 […]