Business

JSE mixed ahead of US meeting
JOHANNESBURG -- South African shares ended mixed with index and resource stocks higher, but gold, industrial and financial stocks lower ahead of the crucial US Federal Open Market Committee (FOMC) meeting later yesterday that was due to decide on ...

Inflation rate drops to 7,7% in April
JOHANNESBURG -- The inflation rate, as measured by the Consumer Price Index, dropped to 7,7% in April -- down 0,2 percentage points from March, the Statistic Services said yesterday. The decrease was mainly due to reduced interest rates on home ...

Stainless steel mill at Coega 'ready to roll'
PORT ELIZABETH -- Coega's stainless steel mill is ready to roll, with the only hold-up being the signing of a deal to buy submarines. "I'm ready to go. But I have to keep my foot on the brake until the military offset deal is signed," Ferrostaal ...

Barlows reports bumper earnings
JOHANNESBURG -- Despite difficult trading conditions in almost every country in which it operates, major industrial group Barlows yesterday reported a 28% increase in earnings per share, excluding exceptional items, to 163,9cents for the six month...

Receiver lodges Finance Week tax claim
By Eddie Botha, Business Editor EAST LONDON -- The Receiver of Revenue, who is owed over R2million by the liquidated Finance Week company, has handed in claim forms to the liquidator of the operating company which published the magazine. Since ...

Wessels to work with industry in new tech position
EAST LONDON -- Marius Wessels has been appointed as director of co-operative education at Eastern Cape Technikon (ECT). The technikon's Angela Church said it was a new position created to develop an integrated model for co-operative education for...

Company interested in buying media library
By Eddie Botha Business Editor EAST LONDON -- The liquidator of the Finance Week publishing company is due to hold a meeting with a company that has shown interest in buying the library of the liquidated company. Liquidator Stephen Anticevich of...

New advisory council to promote foreign investment
JOHANNESBURG -- South Africa is to establish an international advisory council on foreign investment aimed at boosting capital inflows into the country, Deputy President Thabo Mbeki announced yesterday. "The matter of attracting foreign investmen...

Development centre launch in Kokstad
JOHANNESBURG -- AngloGold and the National Union of Mineworkers (NUM) yesterday announced the launch of a R1,7 million development centre in Kokstad in the Eastern Cape. The centre is the first project of the AngloGold-NUM retrenchment fund, which...

Casino licence winners to be known this month
Report and picture by Quentin Wray EAST LONDON -- The Eastern Cape Gambling and Betting Board will announce the names of the three successful bidders for the province's five casino licences by the end of May. This is despite the high-level lega...

PE bidder drops out of race
GRAHAMSTOWN -- Umtha Welanga Casino Bid Company (Pty) Ltd has pulled out of the race for a licence to run a casino in Port Elizabeth, citing its lack of a financial backer. Eastern Cape Gambling and Betting Board chief executive officer Malixole...

RATES OF EXCHANGE
JOHANNESBURG -- Yesterday's noon exchange rates, as supplied by Standard Bank: (R/, R/US$ and R/Irish punt, other rates per rand.) USA 6,2450 AED ,5898 AUSTRIA 2,0377 AUSTRALIA ,2349 BELGIUM 5,9741 BOTSWANA ,735...

UNIT TRUSTS
JOHANNESBURG - Yesterday's quotations for Mutual Funds were: FUND NAMEBUYSELL ABSA: GE343,90323,46 Balanced158,73149,30 ABSA: Aggressive FoF111,96107,01 Balanced100,5894,51 Fincl&Ind Index91,9686,41 General248,83233,81 Growth FoF88,3484,34 In...