Business

Government 'both referee, major player' in gaming
Casino exclusive By Eddie Botha Business Editor EAST LONDON -- The independence of gambling boards from government interference in South Africa has been put in the spotlight by a report from a leading JSE broking firm which recommends that th...

Casinos will face strain if gamblers cut spending
EAST LONDON -- If gaming expenditure is only slightly below expectations some casinos in South Africa may face financial strain, warns a report on the South African gaming industry. The report, by leading JSE broking firm BoE Securities on the in...

Interest rate cut will boost JSE­OM
CAPE TOWN -- The cuts in interest rates expected shortly will help boost the Johannesburg Stock Exchange, Old Mutual Asset Management (Omam) said here yesterday. Omam's head of unit trusts, Peter Linley, said: ''There is every chance of a rate cu...

NWDC must keep shares in Sun says BoE
EAST LONDON -- The government-controlled Northwest Development Corporation (NWDC) should keep its shares in the casino chain group Sun International and convert its R800million debt to preferential shares, says leading JSE broking firm BoE Securit...

M-Net reports dramatic growth
JOHANNESBURG -- Despite the introduction of a new competitor and a currency devaluation, pay-TV group M-Net showed a 50% growth in revenue, with headline earnings per share increasing to 61% for the year ended March 31. The year under review refl...

Market awaits decisions on Cabinet, US rate hike
JOHANNESBURG -- South African shares closed softer yesterday on jitters over US interest rate hikes, the likely composition of the new Cabinet and the May consumer inflation. At the 4pm close, the all-share index had slipped back 0,18%, the indus...

Coega IDZ steel plant 'major breakthrough'
GRAHAMSTOWN -- The weekend announcement that a German consortium would build a multi-billion-rand stainless-steel plant in the Coega Industrial development zone (IDZ) near Port Elizabeth was greeted enthusiastically by business yesterday. SA Cham...

Eight companies in bid for SA's third cellphone licence
JOHANNESBURG -- Eight companies yesterday entered the running for the award of South Africa's coveted third cellular phone licence. Most of the companies are linked to trade unions and empowerment groups. The bids, lodged with the SA Telecommuni...

NEW HIGHS Updated 26/10/9 CHECKED 26/10/98 and LOWS
NEW HIGHS PRICEPREV AMPLATS 1446014400 LIBVEST 25252495 SPECLTY 550540 LABAT 160140 STORECO-N500490 DB AMS C1530525 SANLAM 672670 NEW LOWS PRICEPREV M C M 45 FBC FID 124209 GRINCOR 100115 SCHAMIN 1112 SOVFOOD 145148 ABACUS -N3537 CO...

MAJOR MOVEMENTS
DAILY TOP 10 UP ZENITH 62+ 50,0 RETCORP23368+ 41,2 AWETHU 226+ 37,5 CHARIOT51+ 25,0 CHOICE 5510+ 22,2 TIGON 2995445+ 17,5 AQUILA 13518+ 15,4 LABAT 16020+ 14,3 CHET 253+ 13,6 FORTUNE22525+ 12,5 WEEKLY TOP 10 UP ESSENT 9059+ 190,3 RETC...

RATES OF EXCHANGE
JOHANNESBURG -- Yesterday's closing exchange rates, as supplied by Standard Bank: (R/, R/US$ and R/Irish punt, other rates per rand.) USA6,1597 EURO CURR UNIT6,5117 GREAT BRITAIN9,9312 IRELAND8,2669 AED,5981 AUSTRIA2,1169 AUSTRALIA,2410 BELGIUM6,...

UNIT TRUSTS
JOHANNESBURG - Yesterday's quotations for Mutual Funds were: FUND NAME BUY SELL ABSA: Aggressive FoF 113,29 108,29 Balanced 105,85 99,47 Fincl&Ind Index 96,68 90,85 General 254,08 ...