Computer vendor Beachware Computers CC has been ordered by the Durban magistrate's court to pay the Microsoft Corporation R243 620 in damages after Microsoft filed claims against the vendor during the middle of last year for infringing copyright laws.
South Africa's residential property market is expected to remain buoyant in 2003 after experiencing strong gains in 2002, boosted by the strengthening of the rand, expected income tax relief in February's national budget, and most importantly, forecast declines in local interest rates.
South African wheat imports are set to slow or even come to a halt from early April 2003 until at least early August 2003 following the acquisition by the country's millers of between 500 000 to 600 000 tons of almost all European wheat for shipment from October 2002 to March 2003.
The JSE Securities Exchange ended the week in the black, regaining ground in the afternoon session. Better volumes were traded than on Thursday and the bourse was helped on by the higher gold price on the day.
Starting the new year off with a bang, the South African rand continued to firm on Thursday, breaking below the 8,50 per dollar level to touch a new 16-month best level of 8,4630 against the greenback.
Reminiscent of bygone days, the South African rand took its cue from a stronger gold price on Friday, surging to a fresh 15-month best level of R8,7490 against the dollar as the bullion price bulleted to a three-year high.
CA-Ratings said on Friday it was continuing to monitor the operating position of African Merchant Bank (AMB) after the specialist investment banker reported a net loss of R150-million for the year to the end of September.
South African commercial bank ABSA today released its monthly House Price Index, which showed that the year-on-year (y/y) increase in house prices slowed to 11% y/y, the slowest y/y increase since November 1999, from 11,7% y/y in October and this year's peak y/y rate of 12,4% in July.
The listing of Telkom on the JSE and New York Stock Exchange next year is likely to be one of the biggest business stories of 2003, however its success is by no means guaranteed and many market players are thinking carefully about investing in the share.
The rand was marginally firmer, but still range bound in noon trade on Tuesday after some consolidation in the market after last week's rally which saw the local currency surge to an almost 14-month best level of 9,0585 against the dollar.