SA nuclear energy project politics

Politics may tip the balance as Russia’s Rosatom and France’s Areva SA prepare to battle it out for SA’s planned nuclearenergy project that could...

Shake-up in mine trade union dealings

Tensions give rise to re-think of ‘winner takes all’ principle. TENSIONS in mining trade unions over the past 18 months‚ in particular the rapid growth of...

Global stocks tumble

World markets tumbled yesterday as Greece shut its banks and imposed capital controls to halt a panic-driven run on ATMs, a day before Athens risked...

Rural areas attract top retailers

The rural rand is growing in power and big retailers and mall developers have recognised this growth. Developers were on a drive to expand in...

Molefe didn’t resign – he retired‚ says Eskom

Former Eskom chief executive Brian Molefe did not resign but asked for an early retirement package after less than two years at the helm...

Backtrack on Medicines Act

Proposed changes, broader definition ‘step in right direction’. THE Department of Health has responded to pressure from the R8.5-billion complementary medicines industry and is proposing...

Tokyo shares among top performers

Tokyo's shares ended the year on a high note, climbing more than 9% in 2015 to rank among the world’s top-performing major markets. The benchmark...

Call for ban of online gambling

THE Department of Trade and Industry is proposing that all forms of online gambling and other  forms of gambling, such as dog racing, be...

Kempston Group’s wheels keep turning

Following the dictates of corporate culture is not something over which Kempston Group managers and employees lose much sleep. The group has shunned the corporatism...

National Treasury bails out SAA

The government has again come to the rescue of the financially crippled South African Airways (SAA) with a bailout of R3-billion. SAA will repay its...

McDonald’s eyes EL city centre

GLOBAL fast food chain McDonald’s confirmed that a new outlet is on the cards on the corner of Fleet and Oxford streets in East...

Nersa grants Eskom price hike

THE National Energy Regulator (Nersa) has granted Eskom a 12.69% rise in electricity prices for next year, double the rate of inflation, a development...

New route, flight price bonanza

Travellers and tourists are in for a bargain as new low-cost airline FlySafair extends its routes to two coastal cities – East London and Durban. The...

ANC breaks TV deadlock

The ANC has broken the deadlock over set-top boxes for television‚ confirming at its lekgotla last week that a cabinet decision in favour of...

Commission on investment goods may end

The Financial Services Board (FSB) has proposed doing away with the payment of commission on investment products‚ as part of reforms to the market...

Soft-drink merger sweetener

To gain competition authority approval for the proposed merger of the soft-drink businesses of SABMiller (SAB)‚ The Coca-Cola Company and Gutsche Family Investments‚ the...

Farming gets R100 million boost

Nearly 1000 landowners in Bizana and Lady Frere are set to benefit from a R100-million agro-processing programme managed by the Eastern Cape Rural Development...

Accept the world of robots, 3D – or ‘get left behind’

Business in Buffalo City’s automotive, agricultural and manufacturing sector which do not prepare for future technological “disruptors” like robots and 3D printing may be...

Health Insurance plan gathering steam

THE Health Department’s controversial plan to use a “certificate of need” to regulate where doctors worked was among proposals contained in the White Paper...

Craft beers have giant brewers in a froth

The world’s biggest brewer, Belgian-Brazilian giant AB InBev, is mulling a takeover of its largest rival, SABMiller, in a potential $245-billion marriage combining top...

VW boss quits amid scandal

Volkswagen CEO Martin Winterkorn resigned yesterday, taking responsibility for the German carmaker’s rigging of US emissions tests in the biggest scandal in its 78-year history. “Volkswagen...

Top trends analyst comes to rattle EL’s business cages

Fashion guru turned trends forecaster Dion Chang will soon be rattling the cages of East London’s business and education communities with a groundbreaking talk...

From general dealer to generating billions

Property tycoon and Billion Group chairman Sisa Ngebulana has smashed through many barriers to reach the top of South Africa’s retail property development sector. The...

MBSA TRAINS NEXT GENERATION

Learning the basics of factory work via the biggest industrial operation in East London has given local young people the impetus to develop a...

Brewing giant SABMiller sold in R1.7-trillion deal

The world’s top brewer Anheuser-Busch InBev yesterday clinched a gigantic formal $121-billion (R1.7-trillion) deal for its nearest rival SABMiller, in the third biggest takeover...

Shoprite counts R3bn cost

Armed robberies and Eskom’s load-shedding have cost South Africa’s largest supermarket group Shoprite Holdings an additional R3-billion in operating costs this year.These costs – representing...

MBSA refuses to toe the line

A decision by Mercedes-Benz SA to withhold detailed information about its new-vehicle sales threatens to undermine the government’s motor-industry planning‚ say critics of the...

Home loan default issue lingers

SOUTH Africa’s big banks are taking longer to deal with home loan defaulters even though they are continuing to reduce their non-performing home loan...

Masutha and Gigaba in talks on reviving special Fica advisory council

Justice Minister Michael Masutha is in talks with Finance Minister Malusi Gigaba over the restoration of the special advisory council which was legislatively provided...

MBSA to export cars to US again

Mercedes-Benz South Africa’s (MBSA) East London plant will again produce for the US market after its parent company relaxed production conditions for its four...

Bonds hold steady ahead of Janet Yellen’s testimony

The South African bond market settled into a narrow trading range on Wednesday‚ suggesting caution before US Federal Reserve chairwoman Janet Yellen’s testimony to...

New EC business chamber targets tenders

Getting a fair share of lucrative government infrastructure tenders is a key focus of the new Eastern Cape Chamber of Business (ECCOB). The 22-member chamber...

MBSA reports 45% increase in earnings: company makes R4.6bn profit

Mercedes-Benz South Africa delivered outstanding results yesterday that included a 45% increase in total group revenue to take full-year earnings to R65.8-billion. The East London-based...

Brakes on sales of new vehicles

NEW vehicle sales slowed during November, reflecting a slowing economy, strike-related supply problems, and moderating consumer demand, the National Association of Automobile Manufacturers of...

SARS targets construction industry

The SA Revenue Service (SARS) is concerned about the low level of tax compliance in the construction industry whose reputation was tarnished by widespread...

WATCH: ANCYL storm Absa branch in Durban CBD

Protesting ANC Youth League members stormed into an Absa branch in Durban on Thursday‚ demanding that the bank pay back the money. About 150 Youth...

AngloGold Ashanti’s looking good

Anglogold Ashanti’s sterling efforts at paring debt have raised expectations of a dividend payment – a comfort the gold miner has not offered its...

Denel a catalyst for growth

Arms manufacturer looks to play role in industrial development. DENEL is planning to increasingly use its technological capabilities to help drive the development of local...

Woolworths move sees sales rocket

Retail giant Woolworths reported revenue growth of 55.2% to R30.3-billion boosted by its acquisition of Australian company David Jones, but the company sounded alarm...

’No prejudice’ in job transformation

LABOUR Minister Mildred Oliphant has reassured critics of the controversial draft regulations on employment equity that proposed guidelines for quotas would not pre-judice coloureds...

SAA bleeding money

South African Airways (SAA) is continuing to bleed money and made a net loss of R1.38-billion in the first quarter of the new financial...

Race for SA power deal

The race to secure the contract for the full 9600MW of new nuclear power in South Africa is gathering pace‚ with French nuclear operators...

Fairer customs deal on cards for SA – Nene

SouthAfrica was pushing hard for the “unfair” revenue-sharing agreement between the Southern African Customs Union (Sacu) members to be reworked‚ both in terms of...

US warming to more SA exports

After intense discord over South Africa’s participation in the Africa Growth and Opportunity Act (Agoa)‚ the trade relationship between the country and the US...

SABC holds thumbs for R1-billion government rescue

The South African Broadcasting Corporation (SABC) is anxiously awaiting the outcome of its government guarantee request to the Treasury‚ amid concerns that SA’s credit...

Retailers on the warpath over fresh food business

Massmart challenges lease exclusivity clauses. MASSMART is filing a complaint with the Competition Commission as its plan to introduce its fresh food business‚ Foodco‚ at...

Gold unions reject first offer

All four unions in the gold sector wage talks on Monday rejected an opening offer from gold producers‚ setting the scene for a long...

Stores expect sober spending

Black Friday sales triggered holiday shopping frenzies last week, but mall managers predict prudent shoppers will spend more on essentials than luxury items this...

Put SA first, Gordhan urges

Finance Minister Pravin Gordhan has made a clarion call for South Africa’s political‚ business and labour leaders to put the economy and the country...

Tepid year ahead for housing

Home prices set to grow 9% even if interest rate rises in second half of 2014. HOUSE price growth slowed a bit last year, but...