Although earnings growth numbers for JSE-listed shares appears to be peaking, earnings growth rates should be sufficient over the next two years to support share price increases of, on average, 10,5%, says Absa chief economist Christo Luüs. "This could occur even if moderately lower valuations are assumed."
The persistent global build-up of dollar reserves by central banks in the face of ongoing United States foreign trade deficits is likely to boost the demand for gold, says Absa’s chief economist. "As dollar reserves keep rising, central banks are becoming exposed to the danger that, at some stage in the future they will not be able to mobilise these dollar reserves if they decide to do so."
Rowan Williams-Short, chief investment officer of Nedgroup Investment Advisers (United Kingdom), warned at a national Nedgroup Investments road show this month that South African investors should avoid international emerging markets, including China (even though headline-grabbing articles may make it seem tempting) when investing offshore.
Sudan is open to discussing a role for the United Nations in bringing peace to the troubled Darfur region following a recent peace accord, Sudanese Foreign Minister Lam Akol said on Thursday. "The conclusion of a peace agreement created a new situation," said Akol. "We, as representatives of the Sudanese government, are ready for dialogue with the UN."
Winter is a time for cold snaps, occasional power failures and a seasonal increase in the incidence of household geyser problems. Homeowners are well advised to step up their "geyser guard" at this time of year. Water damage following a geyser burst can cost more than a new geyser and its installation.
Mittal Steel is to formally launch on Thursday a takeover bid for European rival Arcelor that would create the undisputed world champion of steel groups.
When trading begins on the Belgian, French and Luxembourg stock exchanges, Arcelor shareholders will have a chance to exchange their equity for Mittal shares and cash via an offer that currently values Arcelor at €22-billion $28-billion.
After more than three months of testimony from 55 witnesses, the fate of former Enron executives Jeffrey Skilling and Kenneth Lay was handed to a jury on Wednesday. The government had its last chance to sway the eight women and four men before they were excused to begin deliberations.
Unit one at Koeberg power station in the Western Cape was successfully returned to service on Wednesday after being out of commission for the past five months for repairs. The generator was damaged in December 2005, resulting in both the rotor and stator requiring repair.
Stanlib on Wednesday announced the appointment of George Brits, currently chief executive of Stanlib Asset Management, as chief executive of Stanlib Limited with effect from June 1 2006. The appointment date coincides with the date that the current chief executive of Stanlib Limited, Bruce Hemphill, will be taking over the reigns at Liberty Life.
HIV/Aids organisations in Bulawayo, Zimbabwe, have warned people to be on the lookout for individuals selling fake antiretrovirals (ARVs).
The late Ismail Mahomed, a former chief justice, once described the Constitution of a nation as more than a simple statute that mechanically defines the structure of government. He saw it rather as a "mirror reflecting the national soul", the identification of the nation’s ideals and aspirations; the articulation of the values bonding its people and disciplining its government.
A total of 300 000 National Union of Mineworkers (NUM) members will on Thursday join the national general strike called for by the Congress of South African Trade Unions against joblessness, the NUM said on Wednesday. "The right to work is an important and fundamental aspect of any society," said NUM general secretary Gwede Mantashe.
A 25cm fossil meteorite has been discovered in the 145-million-year-old Morokweng crater, about 766m beneath the Kalahari Desert in the North West province of South Africa, the University of the Witwatersrand announced on Wednesday. Morokweng is home to the first complete fossil stony meteorites found in an impact melt.
Thousands of Somalis on Wednesday demanded an end to deadly violence that has rocked their lawless capital, denouncing a United States-backed warlord alliance that has been battling Islamic militia. More than 2 000 Mogadishu residents rallied to call for a full halt to the bloodiest fighting the city has seen in 15 years.
Business Unity South Africa (Busa) said on Wednesday it views the Congress Of South African Trade Unions’ call for national protest action on Thursday as very unfortunate. " … We believe that our economy … requires all of us to work towards ensuring that we avert any action that may have a negative impact on … creating jobs and halving unemployment by 2014," said Busa CEO Jerry Vilakazi.
Discovery, one of South Africa’s fastest-growing financial-services companies and a leader in the life and health sectors, has once again broken new ground with the opening of a franchise-distribution facility in Soweto. The Discovery Consulting Services branch will service the needs of financial advisers in greater Soweto, through Discovery’s unique franchise model.
Typhoon Chanchu churned its way towards Hong Kong and Southern China on Wednesday, causing the cancellation of some flights and ferry services as the region battened down to prepare for the storm. The typhoon, which killed 41 people when it tore through the Philippines, is the strongest on record to enter the South China Sea in May.
Lawmakers in Uganda’s first multi-party Parliament in two decades took their oaths of office on Tuesday after being elected in February following the repeal of a ban on political pluralism. Members of the 308-seat legislature from five parties pledged to "uphold, preserve and defend the Constitution" as well as give "faithful service to Parliament".
Japanese automobile giant Toyota Motor Corporation said on Tuesday it would recall more than 210 000 Land Cruiser Prado sports utility vehicles worldwide, owing to a problem with their rear-axle shafts. The parts, which could develop cracks because of insufficient tenacity, would be replaced with fortified shafts, the top Japanese motor company said in a statement.
An unexploded World War II bomb brought travel chaos to the River Mersey on Tuesday, leaving almost 250 ferry passengers and crew stranded as navy divers rushed to disarm it, the coastguard said. Traffic was moving through the tunnel, said Craig Sim, watch assistant at Liverpool Coastguard in north-west England.
Fenner South Africa, a manufacturer and distributor of fire-resistant conveyor belting to the local coal-mining industry in which it commands a 75% to 80% market share, has become the first of its sector to conclude a black economic empowerment (BEE) partnership, the company said in a statement on Tuesday.
Iran’s supreme leader Ayatollah Ali Khamenei on Tuesday lashed out at world media coverage of the Islamic republic’s nuclear programme, accusing news organisations of deliberately distorting the issue. "The world media empire sees it as expedient to say Iran is seeking nuclear weapons, while the propagators know it is a lie," state television quoted the all-powerful leader as saying.
Internet search titan Yahoo! showed its new face to the world on Tuesday with the online debut of its revamped website. The new Yahoo! page mixes news updates and entertainment with tools for searching, connecting, sharing and communicating online.
Aspen, South Africa’s largest listed pharmaceutical company, on Tuesday announced that it has reached an agreement with Roche to produce a generic version of oseltamivir for Africa. The drug is currently marketed by Roche under the trade name Tamiflu.
We publish a translation of the May 1 speech by Bolivian President Evo Morales announcing the nationalisation of that country’s hydro-carbon resources. This translation is based on the Spanish-language text provided on the Bolivian Information Agency website.
The United States Supreme Court on Monday delivered a victory to internet giant eBay in a closely watched case seen as a test for high-tech disputes over patent infringement. The court’s unanimous ruling does not exonerate eBay in the patent dispute with a company called MercExchange.
Members of the Congress of South African Trade Unions (Cosatu) are gearing up for a general strike on Thursday in support of the Jobs and Poverty Campaign. "Levels of unemployment and poverty in South Africa are totally unacceptable, and the poverty this causes is inflicting misery on millions of families," Cosatu said.
<a href="http://www.mg.co.za/specialreport.aspx?area=zuma_report"><img src="http://www.mg.co.za/ContentImages/243078/zuma.jpg" align=left border=0></a>The African National Congress Women’s League has welcomed the resolution of the ruling movement’s national executive committee to accept the request by the movement’s second-in-command, Jacob Zuma, to resume his duties. The committee made the decision following the acquittal of Zuma — who was dismissed last year as South Africa’s deputy president — for rape.
United States and Iraqi forces said on Monday they had killed 47 suspected insurgents, including an al-Qaeda member wanted over the downing of a US helicopter, and arrested about 260 in weekend raids. The wanted man, Abu Mustafa, was killed along with 15 other alleged rebels in a series of raids, the US military said.
It is interesting, curious and instructive that our first stop on arrival on the actual island of Zanzibar was a bar/restaurant called "Mercury’s". This is a Euro-American establishment named after one of the island’s most famous sons — Freddie Mercury, lead singer and inspiration of the wildly successful British band Queen.
Columns of feuding, heavily armed fighters patrolled the divided streets of Mogadishu’s northern Sisi neighbourhood on Monday after a week of the deadliest violence in the Somali capital for 15 years. Residents in Sisi, which has borne the brunt of the fighting that erupted a week ago, said it has been effectively carved into two distinct sections.
Cellular services provider MTN Group has recorded a 55% year-on-year growth in subscribers in its operations to 24 185 000, the company said in a statement on Monday. This represents a 4% increase since the last reported period ended December 31 2005, the group said.