Sasol on Friday accepted accountability for anti-competitive behaviour that led to an approximately R3-billion fine, but said it intends appealing.
Sasol was among nine companies fined a total of €676-million by the European Commission for forming a ”paraffin mafia” to fix prices.
It was one of Hixonia Nyasulu’s past BEE-related investments that got the Sasol board in hot water, hours after announcing her as its chosen leader.
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/ 29 September 2008
Broad-based BEE has an educational value among the public because it generates an interest in the stock exchange and what companies do.
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/ 22 September 2008
Sasol, the world’s largest producer of fuels from coal, on Monday said it had bought back 6% of its own shares.
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/ 15 September 2008
Cabinet is backing a radical new tax policy to combat climate change, writes Kevin Davie.
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/ 8 September 2008
Sasol, the world’s top maker of fuel from coal, on Monday posted a 50% jump in earnings to R38,09 per share on the back of higher oil prices.
We might think we’re big in mining, synthetic fuels, cellphones or banking, but our biggest listed company on the JSE soon will be in tobacco.
One big difference between the Vodacom retail offering and that of Sasol is that there is no option to buy shares outright for cash.
Sasol has donated R1-million to the Nelson Mandela Children’s Fund, the petroleum company said on Friday.
Team members turn to the project manager for help when they encounter a problem. But to whom can the project manager turn to when s/he needs support?
Despite the risks involved, many people
will benefit, writes Lynley Donnelly.
Trade union Solidarity has signed a 12% wage increase for its members with Sasol Mining, the union said on Thursday.
Oil prices are rocketing and billions are flowing into the fiscus, Lynley Donnelly reports
Sasol’s Inzalo Black Public Invitations have been extended to July 9, the chemical and fuels company said on Wednesday.
Some advice to a would-be Inzalo share scheme subscriber from a helpful nephew
South Africa’s Sasol has agreed with China’s Shenhua Group to jointly produce motor fuel from coal by 2016, it was reported on Friday.
That Bruce Lyle and his built-from-scratch fertiliser business, Nutri-Flo, has survived its nine-year fight against Sasol with the competition authorities so far is remarkable.
The overhaul of waste disposal and storage processes at the Sasol One waste site has had significant environmental and some financial benefits.
South African stocks remained lower at noon on Friday as the mining sector continued to take a pounding on weaker commodity prices. At 12.02pm, the all-share index was down 1,03%. Resources fell 2,15%, while the gold and platinum mining indices lost 1,37% and 0,65% respectively.
Sasol on Wednesday announced the 50 black groups which will share in its R28-billion black economic empowerment (BEE) Inzalo transaction. They included energy and mining women’s groups, Sasol business suppliers, customers, franchisees and trade union investment companies, groups conducting skills and community upliftment projects, and professional associations.
South African stocks remained modestly weaker at noon on Thursday, with banks weighing heavily on a deteriorating inflation outlook after worse-than-expected producer price inflation data and the South African Reserve Bank governor’s comments that the bank was considering a 200-basis-point interest-rate hike.
South African stocks were sharply lower at noon on Wednesday, weighed by miners on falling metal prices and banks after worse-than-expected inflation data.
At noon, the all-share index tumbled 1,26%. Resources fell 2,14%, the gold and platinum mining indices gave up 2,42% and 2,78% respectively.
The JSE hit a fresh record high on Thursday, buoyed by miners on firm commodity prices and a weaker rand, but overall the mood was dampened by global inflation worries due to the rising oil price. At noon, the JSE’s all-share index was up 0,98% at 33 230,590 after earlier touching a fresh all-time high of 33 309,820.
South African stocks were slightly lower at midday on Wednesday, but off the worst levels as commodity stocks posted modest gains on higher prices. At 11.58am, the JSE’s all-share index was down 0,13%. Resources were up 0,23%, the gold mining index was fairly flat at +0,03%, but the platinum mining index lost 0,47%.
The JSE was taking a breather on Tuesday after its recent strong rally, which took the bourse to successive record highs, as some profit-taking set in. However, earlier the all-share index hit yet another fresh record high when it touched 33 263,148. At noon, the JSE’s all-share index was down 0,88%.
South African stocks continued to run in record territory at midday on Monday, buoyed by miners on firmer metal prices while an upbeat mood in overseas markets added to the bullish tone. The market touched 33 116,051 during the session, an all-time high.
South African stocks hit another fresh high on Friday morning, boosted by strong gains for resources. At 11.56am, the all-share index was up 0,82%, boosted by a 1,48% rise in resources and a 2,06% gain for the platinum-mining index. Banks were up 0,37% and financials were 0,61% better. Industrial were flat (-0,03%) and the gold-mining index eased 0,80%.
South African stocks were a mixed bag with a weaker bias at noon on Thursday, but brewer SABMiller climbed on above-forecasts year end earnings. At noon, the all-share index was down 0,16%. Resources fell 0,67%, the gold mining index was off 1,62% but the platinum mining index added 0,15%.
South African stocks remained weak at midday on Tuesday with miners the worst causalities on easing metal prices, while falling overseas markets added to selling pressures. At 12.09pm, the JSE’s broader all-share index was down 0,86%, weighed by a 2,88% drop in platinum miners.
South African stocks pulled back from modest gains achieved in early deals to trade flat at noon on Monday, as traders struggled to find a clear-cut path. At midday, the JSE’s broader all-share index was neither here nor there (+0,06%) at 32 154,700. Resources were up 0,20%, while the gold- and platinum-mining indices added 0,53% and 0,22% respectively.
South African stocks were mixed in early afternoon trade on Wednesday due to volatility, but the feature of the morning session was a strong gain by synthetic fuel producer Sasol. At 12.25pm, the JSE’s broader all-share index was up 0,09%, with the industrial index up 0,88%, but resources were down 0,38%.