MAIL & GUARDIAN: Business

Angonave protest in Angola shows no sign of ending

FOR 524 days, sleeping in cardboard boxes, Joaquim and Franklin have maintained a vigil outside the offices of Angola's state shipping company, Angonave.

SA to more than double car exports by 2005

Automobile manufacturers operating in South Africa are planning to more than double their worldwide exports by 2005, from 120 000 cars in 2002 to 250 000, with the US market taking an increasingly larger share.

LNM could control Iscor by September 2003

Anglo-Dutch group LNM Holdings NV could secure a controlling stake of more than 50,1% in South Africa's key steel company, Iscor, as early as September 2003.

US looks to African oil

Washington's pointman on Africa is to meet Nigerian leaders on Thursday, making a high-level visit at a time when African oil is more than ever in the thoughts of US strategic planners.

JSE set to take cue from currency

The JSE Securities Exchange South Africa (JSE) is expected to open flat to slightly weaker on Monday, taking its cue from the currency. Traders said that with no major economic data due out this week, the market is likely to look to the rand for direction.

Shell says invading is a bad habit

THE Shell oil company said on Sunday that invaders were wreaking havoc at its natural gas plant in Utorogu in Nigeria's southern Delta State.

Canada donates whopping amount to Southern Africa

Canada announced on Wednesday it was sending an additional CAN$34,2-million (US$22,2-million) in humanitarian assistance to Southern Africa.

SA petrol should drop by 18 c/l in December

The retail petrol price in South Africa should drop by 18 cents per litre (c/l), the latest data from the Department of Minerals and Energy shows. An official announcement is expected on Monday, December 2.

Nedcor’s offer to NIB minority shareholders

Nedcor's offer to NIB minority shareholders Banking group Nedcor has announced its offer price to acquire the interests of minority shareholders in its subsidiary, Nedcor Investment Bank Holdings Ltd (NIB).

Markets ‘forced’ mine indaba

Shaken by the "savagery" of market reaction to a leaked black empowerment charter, the government has elevated the issue of empowerment in mining beyond the exclusive remit of Minister of Minerals and Energy Phumzile Mlambo-Ngcuka.

Those big wheels keep on turning

SA's private sector land freight volumes rose by 8% year-on-year in September to 45,754 million metric tons, while the volume of goods transported by state-owned Transnet declined by 1% y/y to 14,686-million metric tons.

We’re in for a slog

Economic growth figures released this week paint a mutedly optimistic picture, but are unlikely to dissuade Reserve Bank Governor Tito Mboweni from pushing for an interest rate hike.

Radebe:Privatisation to yield R12-billion

Government is fast-tracking its partial privatisation drive this year through major changes to arms manufacturer Denel - including the sale of a third share in the business - and the drawing in of private-sector skills in running South Africa's main port at Durban.

Shareholders approve Naspers buy-out of MIH

Shareholders of media group Naspers (NPN) have approved the group's proposed buy-out of the minorities of MIH Holdings (MIHH) and MIH Limited (MIHL).

Telkom’s charmed life is over

What a week it has been for Telkom. On Wednesday, a day after its exclusivity deal from the government expired, it was taken to the Competition Commission for discriminatory pricing.

Maize heads for all-time high, wheat up

South African white maize on the JSE Securities Exchange South Africa rocketed on Friday on the back of the continued lack of widespread rain in the country's maize belt, at a time when farmers are trying to sow maize.

The great South African investment irony

Having recently spent a year in Dubai I couldn't help thinking, on my return to South Africa, of the contrast between the two countries.

SA mine charter aims for 26% black equity

South Africa released a long-awaited final draft of a mining charter on Wednesday, which said 26% of the country's mining assets must be owned by black businesses within 10 years.

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