Provinces differ on Sunday liquor law
Durban – While Gauteng contemplates a total ban on Sunday alcohol sales, KwaZulu-Natal is one step away from allowing liquor stores to open. The chief executive of the KZN Liquor Authority, Stella Khumalo, said the move was in line with the constitution which recognised the country as a secular state, and that the existing Sunday [...]
Adcorp to bring in new BEE deal
Johannesburg – South African employment agency Adcorp Holdings said on Monday it would introduce a new, 10year black-empowerment deal worth 521 million rand ($55.91 million) after its previous one failed to produce value. The company said in a statement its previous deal, structured before the 2008 global crisis, was now underwater and would not benefit [...]
Emerging markets thrive amid global woes
Lisbon – No matter how Cyprus’s financial drama ends, its trouble show yet again that rich countries enfeebled financial crisis remain a weak link in the world economy. By comparison, emerging markets are not only looking stronger but are also contributing more consistently to global growth. At worst, if Cyprus has to abandon the euro, [...]
Adcock moves on $665m Bidvest bid
Johannesburg – South African conglomerate the Bidvest Group [JSE: BVT] offered around $665m in cash and shares for control of the country’s second-largest but under-performing drugmaker Adcock Ingram Holdings [JSE:AIP]. Adcock reaps almost all of its revenue from South Africa where it is dwarfed by local rival Aspen Pharmacare, which has made an aggressive push [...]
Clover to head for the coast as travel costs rise
Dairy producer Clover is investigating the possibility of moving its cheese facility closer to milk sources at the coast. This would save on transport and distribution costs, the firm said this week. Speaking at a media tour in Port Elizabeth, Clover chairman Werner Buchner said this greenfield project would cost the group about R300 million. [...]
Dell to be ‘aggressive’
Washington – Personal computer industry pioneer Michael Dell would “invest for growth” and compete aggressively in new markets if his plan to take the company he founded private succeeds, according to a new memo. The company founder, in a message to Dell employees available Tuesday in a document filed with the Securities and Exchange Commission, [...]
SA maize at one-month low
Johannesburg – South African corn futures weakened for a second day to the lowest level in more than a month, tracking US prices that fell following reports of bigger-than-expected stockpiles. White corn for delivery in July, the most active contract, declined 3.5 percent to 2,195 rand ($237) a metric ton, the lowest since March 1, [...]
Namibia: New brand of local fish products by Kuiseb Traders
Windhoek – Kuiseb Traders have shown that they mean business when they recently launched a fully Namibian brand of processed and packaged fish products for the local market. The packaged products include horse-mackerel fish soup, smoked angelfish, smoked snoek, smoked horse-mackerel, black mussels, Kelgo organic fertiliser and wet fish, which include horse-mackerel, reds, angel and [...]
Growth in ports sends Grindrod shares up
Grindrod shares rose to their highest level in more than four years yesterday as investors bet on earnings growth driven by diversification into ports and terminals. The shipping company’s stock advanced for the ninth time in 10 days, gaining 3.9 percent to close at R19.50. The shares have gained 23 percent this year. “Investors are [...]
Cape hi-tech factory could boost jobs
Cape Town – The opening of a factory manufacturing high-tech gadgets could boost employment not only in the Western Cape but South Africa as a whole, Cape Town premier Helen Zille said on Tuesday. Zille was speaking at the official re-opening of the Tellumat factory in Atlantis, Western Cape earlier on Tuesday. “Government does not [...]
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