The number of liquidations in the first nine months of 2009 increased 25,9% compared with the first nine months of 2008, Statistics SA said on Monday. The increase was due to rises of 25,9% in voluntary liquidations and 25,6% in compulsory liquidations. When comparing the first nine months of 2009 with the first nine months [...]
Thousands of unemployed youth will benefit from a newly-launched government training scheme, communications minister Siphiwe Nyanda said on Tuesday. He was speaking at the official launch of the scheme, known as e-Cadre, in Rustenburg in North-West. The programme was a multi-pronged approach offering information and communications technology (ICT) skills training and life orientation to young [...]
The tariff hikes requested by electricity parastatal Eskom will push up the inflation rate by between a half and one percentage point, Azar Jammine, chief economist of Econometrix, said on Friday. He was addressing the annual conference of the SA Chamber of Commerce and Industry (Sacci) in Johannesburg. Earlier this week, Eskom announced that it [...]
SA has been identified as one of the key emerging markets for global investors, moving up to fourth position, according to new research published by UK Trade & Investment on Wednesday. Addressing the Economist Intelligence Unit’s Emerging Markets forum, the UK Secretary of State Lord Mandelson revealed the findings of the report which examined global [...]
Electricity parastatal Eskom wants a 45% tariff hike each year for the next three years. “Let’s do the hike over three years, we’ll smooth it by 45% over the next three years,” Eskom CEO Jacob Maroga told a media briefing in Johannesburg on Tuesday. Eskom’s tariffs were not at levels that they should be, he [...]
Convicted drug trafficker Glenn Agliotti led damning evidence against one-time friend, former police chief Jackie Selebi, on Tuesday, detailing how approximately R1m was made in corrupt payments. The high court in Johannesburg also heard more claims made against former chief prosecutor Bulelani Ngcuka. Agliotti also described his relationships with controversial businessmen Brett Kebble and Billy [...]
Former national police chief Jackie Selebi was the victim of a conspiracy cooked up by ex-chief prosecutors Bulelani Ngcuka and Vusi Pikoli, the high court in Johannesburg heard on Monday. Selebi pleaded not guilty on Monday morning as his long-awaited corruption trial finally started. Selebi, dressed in a grey suit, solemnly stood, as the charges [...]
Cheryl Carolus has been appointed chairwoman of the board of SA Airways (SAA), public enterprises minister Barbara Hogan said on Thursday. This followed the expiry of the term of office of the current board. “Carolus will head up a highly skilled board, with experience in areas such as tourism, business and finance, law and procurement,” [...]
The Monetary Policy Committee (MPC) of the SA Reserve Bank left interest rates unchanged on Tuesday. The key repo rate remained at 7% while the prime rate stayed at 10,5%. Reserve Bank governor Tito Mboweni said the MPC was of the view that the risks to the inflation outlook appeared to be fairly evenly balanced. [...]
Ex-Hyundai boss Billy Rautenbach, who has been evading local authorities for 10 years on fraud and tax evasion charges, has handed himself over and agreed to pay a R40 million fine, an official said on Tuesday. National Prosecuting Authority spokesman Mthunzi Mhaga said Rautenbach, a Zimbabwean who fled SA when Hyundai Motor Distributors collapsed, handed [...]
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