Business

Clean natural gas should start flowing from Mozambique's gas fields in late 2003 and is expected to seriously re-arrange neighbouring South Africa's energy mix as many industries switch from dirty coal.

Bust and losing billions – yet United plans to fly on

Staff Reporter - 1 Jan 2002

United Airlines yesterday bowed to the inevitable and filed for bankruptcy protection, making it the largest failure in the airline industry to date and among the top 10 collapses in corporate history.

Australian mining firm starts exploring in Mozambique

Staff Reporter - 1 Jan 2002

THE Mozambique government on Wednesday announced it had approved a new minerals exploration project in southern Mozambique.

Naspers shares soar

Staff Reporter - 1 Jan 2002

MIHH and Naspers' shares continued climbing on Thursday in the wake of the sale of their subsidiary Open TV to Liberty Media Corporation for R1,9 billion.

Cell C connects 500 000 customers

Staff Reporter - 1 Jan 2002

Saudi-backed Cell C, South Africa's third and most recent mobile phone operator, has connected more than 500 000 customers within six months of starting business.

SA business confidence soars in June

Staff Reporter - 1 Jan 2002

The business confidence index (BCI) as measured by the SA Chamber of Business (Sacob) has improved from 101,3 in April, to 107 in May to 108,1 in June.

SA’s August M3 subsides

Staff Reporter - 1 Jan 2002

Growth in South Africa's money supply slowed in August but credit demand accelerated, data on Tuesday showed, fanning fears that interest rates would rise for the fifth time this year to quash soaring inflation.

US drinkers boost SABMiller profits

David Jones - 1 Jan 2002

Brewing giant SABMiller Plc reported a 24 percent rise in half-year profits on Thursday and said it would cut costs in a bid to win over American beer drinkers.

ACP summit targets nuclear waste movement

Staff Reporter - 1 Jan 2002

An African, Caribbean and Pacific summit on trade and aid was on Friday set to venture into stormy political waters by strongly condemning nuclear waste shipments across the Pacific.

Malawi’s only textile maker closes, 2000 laid off

Staff Reporter - 1 Jan 2002

Malawi's loss-making giant textile manufacturer has closed shop and laid off 2 000 workers, trade and commerce minister Peter Kaleso said on Tuesday.

Angola says new mine will yield $2,5bn

Staff Reporter - 1 Jan 2002

The government predicts that a new diamond mine due to begin operating this year contains reserves of 23-million carats worth about ,5-billion, a news report said on Friday.

VWSA to invest R2,1bn in Uitenhage plant

Staff Reporter - 1 Jan 2002

Volkswagen South Africa (VWSA) will invest R2,1-billion in infrastructure, improving facilities and upgrading its products at its Uitenhage plant outside Port Elizabeth over the next six years, the carmaker said on Tuesday.

Japan bankruptcies at record highs

Staff Reporter - 1 Jan 2002

Bankruptcies in Japan in April were the third-highest for the month in half a century and deepening deflation could send the figure to record annual highs, a research firm said on Thursday.

Uncertain future for Konkola

Staff Reporter - 1 Jan 2002

''Congratulations -- 15 days no accident,'' reads a billboard at the entrance to Konkola Copper Mine (KCM) in Zambia's northern Copperbelt province.

Cosatu urges action against Telkom increase

Staff Reporter - 1 Jan 2002

The Congress of SA Trade Unions on Thursday called on the Independent Communication Authority of SA to reject the new tariffs proposed by Telkom.

Unemployment still a problem on Workers Day

Shoneez Bulbulia - 1 Jan 2002

THE Congress of SA Trade Unions (Cosatu) and its alliance partners announced that unemployment remained the most difficult challenge for government, as more workers lost their jobs and more people faced poverty.

Wakeford bows out

Wayne Judd & Moipone Malefane & Moipone Malefane - 1 Jan 2002

No reason was forthcoming on Tuesday night for the sudden resignation of SA Chamber of Business CEO Kevin Wakeford.

Interim Sacob head announced

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