Fines, payments choke Stefanutti Stocks

[Alistair Anderson] Construction company Stefanutti Stocks said on Tuesday (14 May) that late payments by debtors and a provision for a hefty fine for anti-competitive behaviour were to blame for the company reporting a record R162m loss for the year to February. 15 May 2013 09:40

Public Enterprises wins Treasury battle

[Nicky Smith] A six-month battle between the Treasury and the Department of Public Enterprises over the empowerment and local content weighting in Transnet's R35bn acquisition of new locomotives has ended with the Treasury agreeing to let the tender go unchanged. 15 May 2013 09:07

Wild Coast toll fees to be scrapped

The SA National Roads Agency Limited (Sanral) has scrapped plans to construct a toll road on the N2 Wild Coast Highway, it said on Tuesday (14 May). 15 May 2013 08:58

Solidarity, Telkom head for CCMA

Trade union Solidarity said on Tuesday (14 May) that it had referred a dispute to the Commission for Conciliation‚ Mediation and Arbitration (CCMA) after wage negotiations between trade unions and telecommunications company‚ Telkom‚ reached a stalemate. Trade unions rejected Telkom's final offer of a 1.5% increase. 15 May 2013 08:29

AngloGold's focus on cutting costs

[Allan Seccombe] AngloGold Ashanti is gearing up to sell a second mine as the company deepens its focus on delivering value to shareholders in a difficult gold market‚ new chief executive Srinivasan Venkatakrishnan said on Monday (13 May). 14 May 2013 12:30

Time to unlock Africa's travel potential

The South African Tourism Indaba should expand its platform by attracting even more exhibitors and buyers from the African continent, Tourism Minister Marthinus Van Schalkwyk said on Sunday (12 May). 14 May 2013 11:56

Online services increase house sales

Property purchasing in South Africa is being driven by a younger generation that relies on the Internet for information, bond originator ooba said on Monday (13 May). 14 May 2013 11:40

State should own 50% of all Africa's mines

[Paul Vecchiatto] African governments should own at least a 50% of any new mining venture in order to ensure that the country gets more of the revenue from mining projects. 13 May 2013 14:21

Africa must reduce infrastructure delays

[Linda Ensor] The classic public-private partnerships both in SA and Africa are plagued by delays‚ with the projects sometimes taking seven years to get going‚ Finance Minister Pravin Gordhan said on last week at a media conference on accelerating infrastructure investment in Africa‚ at the World Economic Forum on Africa. 13 May 2013 13:40

Fraudulent claims plague medical aids

In March, The Times reported that corrupt doctors, pharmacists, physiotherapists, radiologists and pathologists were ripping off medical schemes to the extent of about R22bn a year. The sector disputes the figure, saying correct estimates point to half that amount. 13 May 2013 11:42

Changes to SA's immigration policy

[Wyndham Hartley] Home Affairs Minister Naledi Pandor has promised sweeping changes to South Africa's immigration regime to make it easier for foreign businesses and investors to come to the country and to improve competitiveness in the global skills market. 13 May 2013 11:26

Funding for Durban dig-out port uncertain

There seems little doubt that despite questions and some objections, the proposed new dig-out port on the site of the old Durban International airport will go ahead. Exploratory drilling on the site by Transnet is already under way - what it calls early research - into the geotechnical composition of the soil. 13 May 2013 10:18

Cullinan earnings climb by 25.2%

Tourism and leisure group Cullinan last week reported a 25.2% increase in headline earnings from R21.7m to R27.2m for the six months to March on the back of a 20% increase in sales. 13 May 2013 09:37