Staff Reporter

A LONG-AWAITED plan to merge South Africa’s three financial exchanges was scuppered on Wednesday when two of the bourses voted against it, objecting to the shape of the union and questioning its short-term benefits. The proposed merger, which had been expected to be in force by year-end after three years on the drawing board, got […]

A LEADING drink distributor is combining canny marketing with a sombre message about drinking and driving over Christmas and the millennium, offering a free breathalyser with every bottle of its spirits. The free kit, bearing the message “celebrate wisely”, will be hung round the neck of every bottle of Gilbey’s Bells, Johnnie Walker and J&B […]

BANKING and financial services shares, which analysts say have languished in deeply oversold territory, are expected to launch a comeback next week,but the wider market is harder to call. Analysts said on Friday that the approach of the millennium date change and its attendant uncertainties, perceived to be more acute in emerging markets, would sap […]

ANGLOGOLD said on Friday that it has already been offered 24,6% of the issued capital of Australian gold miner Acacia Resources in terms of its takeover offer. “We are delighted with this positive early response from the Acacia shareholders,” AngloGold CEO Bobby Godsell said in a statement. AngloGold has offered 3,5 of its shares for […]

OWN CORRESPONDENT, Johannesburg | Friday 9.00am. STANDARD Bank Investment Corporation (Stanbic) remained defiant to a hostile takeover bid by Nedcor on Thursday, while revealing that Nedcor offered a far better deal to the bank in September last year. Stanbic CE Jacko Maree said on Thursday Nedcor suggested a swap ratio of 4,35 Stanbic shares for […]

SWEDISH truck and bus maker Scania said on Friday it has won an order for 340 South African buses worth about $38-million. The deal between Scania’s South African subsidiary Scania South Africa and Great North Transport of South Africa was signed in a ceremony in Johannesburg as part of a Sweden-South Africa partnership week. Scania, […]

ONE of the bidders for the third mobile phone licence said on Wednesday it fears the announcement of the winner could be snagged by a probe into alleged corruption at telecoms watchdog the South Africa Telecommunications Regulatory Authority. Dutch-registered Mobile Systems International Cellular Investments Holdings (MSI) said the delay could hit the business plans of […]

LOCAL retailers, damaged by the country’s recent economic woes, will get a boost from interest rate cuts, subdued inflation and upbeat consumer spending ahead of the millennium, analysts said on Friday. They said the retail sector’s pre-Christmas rebound is expected to take root despite the Reserve Bank’s move this week to put breaks on easing […]

FOUR people were killed early on Friday when a private plane crashed shortly after take-off from Nairobi’s international airport, state radio reported. Three people died instantly when the plane, operated by Aircraft Leasing Company, crashed shortly after taking off from Jomo Kenyatta International Airport for Dar es Salaam at 0245 GMT. The pilot, reportedly Danish, […]

THE World Bank has promised a loan of $100-million to help finance the reconstruction of the railway linking Mozambique’s port city of Beira, in the central province of Sofala, to Malawi and to the coal mines of Moatize, in the western province of Tete. Chairman of the board of directors of the publicly-owned Mozambican railway […]

THE Cape High Court on Tuesday reserved judgment in a bid by Sprockets Productions Limited, trading as Deadtime, to liquidate Midi Television, the owner of e-tv. Judge D van Reenen said he will try to deliver judgment early next week. Midi TV is defending an application by production company Sprockets to have it provisionally liquidated […]

NEVILLE Sing, executive producer at Primedia Pictures, and an architect of South Africa’s film legislation, passed away unexpectedly on Monday, aged 40. Before joining Primedia Pictures, Sing spent two years at the department of arts, culture, science and technology as deputy director of film. In this capacity, he drafted the department’s White Paper on the […]

SARAH BULLEN, Cape Town | Thursday 4.45pm THE Johannesburg Stock Exchange fell victim to a bought of cold feet on Thursday after the Reserve Bank’s announcement that it will freeze the repo rate at 12% as a Y2K precaution. By close of trade the all share index was down 0,28%, with a 0,60% fall in […]

GAMBIA has signed a deal with South Africa’s state-owned power utility, Eskom, with a view to ending electricity shortages, Reuters quoted Gambian officials as saying on Saturday. The officials said that under the deal Eskom would bring equipment to the north western country to help it generate additional electricity. Gambia has been suffering shortages of […]

THE South African National Editors Forum said on Wednesday it welcomes the interim report by the SA Human Rights Commission on racism in the media. Sanef chair Lakela Kaunda said in a statement: “We believe the release of the report provides an opportunity for editors to continue to debate race and gender representation in media […]

OWN CORRESPONDENT, Johannesburg | Thursday 2.15pm. THE disciplinary hearing against Land Bank Managing Director Helena Dolny for improper conduct will go ahead as planned on Thursday, Agriculture and Land Affairs spokesman Gay Khaile said in Pretoria. “There are no last-minute deals being struck. The hearing will proceed,” Khaile said. Earlier reports spoke of behind-the-scenes moves […]

MICHAEL FINCH, Wanderers | Thursday 8.30pm. By Michael Finch ALLAN Donald wrecked England with one of his finest fast bowling performances to put South Africa on top on the opening day of the first test at the Wanderers on Thursday. Donald captured six for 53, the third best figures of his test career, and fellow […]

OVER 100 years old and still have that vital spark? Then Cape Town needs you. The city, dubbed one of the top five hot spots in which to celebrate the millennium, is searching for the oldest reveller, who will be wined and dined with 10 friends and chauffeur-driven to a chosen event during the festivities.

OWN CORRESPONDENT, Johannesburg | Thursday 10.30am. SPORTS Minister Nkonde Balfour joined the fray in the Rothmans Cup saga that has seen more twists and turns than the usually volatile South African soccer scene ever has seen. Balfour is concerned the legal wranglings, that have seen Free State Stars expelled from the richest national football competition […]

ZIMBABWE police are investigating death threats sent to three journalists from different private newspapers — including two containing live bullets. The police said Basildon Peta, a news editor at the Independent Financial Gazette newspaper, received three live bullets and a message at his home last week advising him to “watch out or you are dead”. […]

SOUTH African Fulton Allem will not be making a return to South African golf as anticipated by his fans and fellow golfers. Allem, who was due to start the Vodacom Tour summer leg at Royal Cape Golf Club in the Vodacom Players Championship in December, has had to withdraw due to injury. Allem announced on […]

CRIMINAL proceedings are to be brought against two senior policemen in KwaZulu-Natal in connection with their investigation into violence in Richmond in the KwaZulu-Natal midlands. The National Directorate of Public Prosecutions said on Thursday that charges would be brought against Director Eric Nkabinde and Captain Sipho Thompson Mbhele. In April this year, the directorate appointed […]

SWEDISH Prime Minister Goran Persson faced a barrage of criticism over an assortment of gaffes and blunders made during his visit to South Africa. The six-day trip, dubbed the “South Africa Fiasco” by the Swedish press, was dogged by rows before it began. Persson introduced Sweden’s new ambassador to South Africa before the host country […]

OWN CORRESPONDENT, Johannesburg | Thursday 12.00pm. SUNDOWNS notched up their 11th win from 13 games in the Castle Premiership with a 1-0 victory over AmaZulu at King’s Park Stadium in Durban on Wednesday night. The only goal of the game came just before half time from a long clearance by Lovers Mohlala that found Daniel […]

SRI Lanka A took the last five wickets of the South African A side for just 18 runs in murky light on Wednesday to pull off a surprise 12-run victory. The match at the Chatsworth Oval outside Durban was the first of three one-day internationals.

THE town of Sutherland in the Karoo is to play host of a R100-million telescope due to scan the galaxies, Arts, Culture, Science and Technology Minister Ben Ngubane announced on Thursday. Ngubane said the telescope will be the largest of its kind in the southern hemisphere, and will enable the country to remain internationally competitive […]

SRI Lanka A won the toss and elected to bat in their limited overs one-day cricket match against South Africa A in Chatsworth in Durban on Wednesday.

THE salaries of magistrates and judges will be increased by an average of 14% with effect from July 1999, Justice Minister Penuell Maduna said in Pretoria on Tuesday. Magistrates will receive a monthly boost of 8%, while judges’ salaries will increase by 6%.

ZAMBIAN police have shot and killed one murder suspect and arrested another in their enquiry into the killing of a son of former president Kenneth Kaunda, Home Affairs Minister Peter Machungwa said. The minister also said that a fifth suspect in the November 4 killing of Major Wezi Kaunda is still on the run. Machungwa […]

SARAH BULLEN, Cape Town | Wednesday 5.10pm THE Johanneburg Stock Exchange had a stong finish on Wednesday, pushed higher by an earlier boost in the gold price and a strong performance from resources sector. Gold reached a high of $299 on the day, boosted by the close-out in the New York over the counter gold […]

THE United States has invited African energy ministers to a conference next month where it hopes to draft a coordinated strategy for energy development on the continent while promoting US businesses there, US Energy Secretary Bill Richardson said in Washington on Monday. Already 35 of 54 African ministers have agreed to attend the gathering December […]

AT least 200000 people are expected to converge on central Durban on December 31 to celebrate the new millennium, the sponsors of festivities in the city said in a statement on Wednesday. The Durban Port Carnival 2000, which will be televised worldwide, is expected to attract around 25000 revellers. “The Durban public can be assured […]