Business Day (South Africa) articles from October 2008

Business Day (South Africa) archives from October 2008

Afrimat setting sights on long-term growth.
October 31, 2008... Byline: Bheki Mpofu Afrimat setting sights on long-term growth Costs related to expansion projects bring drop in earnings for building materials company Infrastructure Editor BUILDING materials group Afrimat's earnings for the six months...

Fuel hedges land airlines with big bills.
October 31, 2008... Byline: Julius Baumann Fuel hedges land airlines with big bills Aviation and Tourism Editor SEVERAL local airlines have been hit hard by the steep drop in oil prices over the past three months, losing heavily on fuel hedges taken out as...

Rand may be in for more pain.
October 31, 2008... Rand may be in for more pain THE rand's heady recovery this week is nothing short of astounding, with the unit gaining about 14% to R9,46 against the US dollar at its strongest point yesterday. The improvement is almost as dizzying as its...

Reaping sins' benefits.
October 31, 2008... Reaping sins' benefits BRITISH American Tobacco, the global tobacco giant and largest listed company on the JSE, yesterday reaped the rewards of pleasurable sins with rudely healthy results. Although profit was lower in SA as a result of...

Keep bubbly on ice.
October 31, 2008... Keep bubbly on ice NOT a second too soon. Inflation is down for the first time in a year, and private sector credit extension has risen by its slowest pace in nearly four years. Result: interest rates are likely to come down next year. But...

Kingdom Come's time has arrived.
October 31, 2008... Byline: David Mollett Kingdom Come's time has arrived Racing Editor THERE could be plenty of cheering in Jabavu, Soweto, around 4pm tomorrow. If Kingdom Come favourite for the Charity Mile November Handicap at Turffontein wins the Gr...

The thing about money.
October 31, 2008... Byline: Michel Pireu: Things that money can and cannot do for you MONEY will not purchase happiness for the man who has no concept of what he wants; money will not give him a code of values, if he's evaded the knowledge of what to value,...

Slowing producer prices 'support rate cut'.
October 31, 2008... Byline: Mariam Isa Slowing producer prices 'support rate cut' Economics Editor PRICES of goods leaving SA's factories, mines and farms fell more sharply than expected last month, enhancing an improving inflation outlook and backing the...

THE INSIDER.
October 31, 2008... THE INSIDER Right on, let's hear it for good old tap water THE Insider has a pet peeve about environmental damage wrought by the countless crates of bottled water South Africans drink, particularly in cities such as Cape Town and...

JSE closes up on firm global markets.
October 31, 2008... JSE closes up on firm global markets SOUTH African stocks ended over 5% higher yesterday, moving in line with stronger global markets. Gains in precious metals prices helped miners and resources stocks, while the banking and financials...

Staying airborne.
October 31, 2008... Staying airborne THE death of former Springbok communications manager Chris Hewitt and his instructor Henricus de Witt in an aircraft accident near Hekpoort this week caps what has been one of the deadliest months for general aviation. The...

Human interest.
October 31, 2008... Human interest NAMIBIA's ban on the media and observers from an ivory auction sanctioned by the United Nations Convention on International Trade in Endangered Species (Cites) is indicative of the obfuscation and hypocrisy surrounding elephant...

Just how 'left' is the Zuma ANC's 'leftward' shift?
October 31, 2008... Byline: TIM COHEN VS STEVEN FRIEDMAN Just how 'left' is the Zuma ANC's 'leftward' shift? Issues about perceived changes in economic policy may be taking centre stage, but concerns about leadership qualities also need to be addressed Did...

SuperSport are favourites to beat Ajax.
October 31, 2008... Byline: Mninawa Ntloko SuperSport are favourites to beat Ajax Sports Editor MEMORIES of the final day of last season should come flooding back for Ajax Cape Town when they engage domestic premiership leaders SuperSport United at Athlone...

Southern tri-nations twenty20 initiative is innovative.
October 31, 2008... Byline: Mark Smit Southern tri-nations twenty20 initiative is innovative THE confirmation of a southern hemisphere twenty20 tournament, like India's Premier League and with similar amounts of money, according to Gerald Majola might be...

South's Twenty20 to get top cricketers Majola.
October 31, 2008... Byline: Mark Smit South's Twenty20 to get top cricketers Majola National players will be signed for next year Chief Sports Correspondent ALL the national players representing Australia, India, New Zealand and SA will be contracted to...

How state companies fail SA.
October 31, 2008... Byline: Mathabo le Roux How state companies fail SA Trade and Industry Editor CONTRADICTIONS in the policies that guide state-owned enterprises impede the operation of these enterprises severely, with grave implications for growth and...

FILM.
October 31, 2008... Byline: Phillip Altbeker FILM DROLL and wise, THE BAND'S VISIT is a hopeful depiction of a culture clash resolved peacefully when the Alexandria Police Ceremonial Orchestra arrives in Israel to perform at the opening of an Egyptian...

NOURIEL Roubini of New York University.
October 31, 2008... Byline: Martin Wolf GLOBAL CRISIS/ Legitimacy of open market economy is at stake NOURIEL Roubini of New York University's Stern School of Business was right. In February, I wrote a column, America's economy risks the mother of all...

Hard facts show decrease in SA's mortality rate.
October 31, 2008... Byline: Pali Lehohla Hard facts show decrease in SA's mortality rate THE release of data on mortality and causes of death invariably generates controversy. This is not surprising, because such information influences our assessment of the...

Lekota: ANC lying about Mbeki.
October 31, 2008... Byline: Amy Musgrave and Karima Brown Lekota: ANC lying about Mbeki FORMER African National Congress (ANC) chairman Mosiuoa Lekota has accused the ANC of lying about a letter written by former president Thabo Mbeki to party president...

Stage set for breakaway convention.
October 31, 2008... Byline: Hajra Omarjee Stage set for breakaway convention BREAKAWAY ANC allies warn their members to stay clear of meeting, while the proposed party faces trademark challenges Political Correspondent ON THE eve of the Shikota national...

New party has tight deadline on name, branding.
October 31, 2008... Byline: Sibongakonke Shoba New party has tight deadline on name, branding Staff Writer THE to-do list of the Shikotas the new political movement led by former Gauteng premier Mbhazima Shilowa and former defence minister Mosiuoa Lekota is...

Sidelined commissioner had fought corruption in his department and clashed with minister.
October 31, 2008... Byline: Wyndham Hartley Transfer of prisons chief queried Sidelined commissioner had fought corruption in his department and clashed with minister Parliamentary Editor CAPE TOWN Cabinet ministers from the criminal justice cluster...

Concerns.
October 31, 2008... Byline: Hopewell Radebe Concerns raised about US, African trade Recent figures show that US has now become SA's top trading partner, replacing Britain Diplomatic Editor AS ELECTION fever spreads in the US, the future of the African...

Protesters demand free electricity.
October 31, 2008... Protesters demand free electricity RESIDENTS of Johannesburg yesterday staged a demonstration for free basic electricity and threatened to boycott next year's election if their demands are not met. They (the government) are failing us,...

Hlophe accuses 'arrogant judges'.
October 31, 2008... Byline: Franny Rabkin Hlophe accuses 'arrogant judges' Western Cape judge president opposes Constitutional Court judges' leave to appeal application Staff Writer WESTERN Cape Judge President John Hlophe has accused the judges of the...

Polls 'should not distract us from fighting crime'.
October 31, 2008... Byline: Luphert Chilwane Polls 'should not distract us from fighting crime' ELECTIONEERING must not divert attention from crime, South African Human Rights Commission chairman Jody Kollapen cautioned yesterday. The concern is that as...

Top judge speaks of state duty to courts.
October 31, 2008... Byline: Franny Rabkin Top judge speaks of state duty to courts THE government has a duty to rein in members of political parties when they threaten the independence of the judiciary, says Supreme Court of Appeal president Lex Mpati. ...

OUT: ANC secretary-general Gwede Mantashe.
October 31, 2008... ANC secretary-general Gwede Mantashe. Quoting selectively from Thabo Mbeki's letter to the ANC has backfired badly, leaving the impression that Mantashe is less than honest.

OUT: Rwandan President Paul Kagame.
October 31, 2008... Rwandan President Paul Kagame. With the risk of renewed major conflict in the Democratic Republic of Congo running high, a little restraint from neighbouring Rwanda would not go amiss.

MADE IT: United Nations secretary-general Ban Ki-moon.
October 31, 2008... United Nations secretary-general Ban Ki-moon. At least someone unlike the SADC leaders and mediator can see that the main cause of the failed Zimbabwe deal is President Robert Mugabe himself.

Boks have the right mixture for UK tour, says Muir.
October 31, 2008... Byline: Zeena Isaacs Boks have the right mixture for UK tour, says Muir Rugby Correspondent THE Springboks depart for Wales tonight on a year-end tour that has far greater significance than usual. When Springbok captain John Smit and...

Historic sale of entire city block.
October 31, 2008... Byline: Madden Cole Historic sale of entire city block Cape Town's public works department pays R72,41m for the property, bounded by four key streets A WHOLE city block was sold at the Alliance Group's property auction on Wednesday in...

Trout farm may lure bids.
October 31, 2008... Byline: Madden Cole Trout farm may lure bids A GAME and trout farm in Machadodorp will among the properties on sale at the Aucor commercial property auction next Thursday. The 128ha farm has two dams stocked with brown and rainbow...

Notable artists on the market at Bernardi sale.
October 31, 2008... Byline: Madden Cole Notable artists on the market at Bernardi sale WORKS by Keith Alexander are not often found on auction and the appearance of his oil on canvas, Dry Mercury, at Bernardi Auctioneers' art and antiques sale next week,...

Rolfes buys solvents company Triangle Solutions for R60m.
October 31, 2008... Byline: Bheki Mpofu Rolfes buys solvents company Triangle Solutions for R60m ROLFES Chemicals, a wholly owned subsidiary of AltX-listed manufacturing and technology group Rolfes Technology, said yesterday it had acquired Triangle...

AngloGold to cut back on capital spending.
October 31, 2008... Byline: Charlotte Mathews AngloGold to cut back on capital spending The group hopes to accelerate sales of some assets, but with $555m in cash, its financial position remains strong Resources Editor GOLD miner AngloGold Ashanti is...

Quiet JSE debut for Firestone Energy.
October 31, 2008... Byline: Charlotte Mathews Quiet JSE debut for Firestone Energy Resources Editor COAL development company Firestone Energy made a subdued debut on the JSE yesterday, with the shares offered at 28c, but no trade. Coal and energy...

Market welcomes Lonmin's plans for next year's output.
October 31, 2008... Byline: Charlotte Mathews Market welcomes Lonmin's plans for next year's output PLATINUM miner Lonmin, until recently the object of a hostile takeover proposal from Xstrata, planned to produce a similar amount of platinum next year to...

Day of reckoning for customs union's fate.
October 31, 2008... Byline: Mathabo le Roux Day of reckoning for customs union's fate Trade and Industry Editor THE Southern African Customs Union (Sacu) council of ministers is gathering in Windhoek today for a meeting that is likely to be dominated by the...

State advised not to tamper with current account deficit.
October 31, 2008... Byline: Mariam Isa State advised not to tamper with current account deficit Economics Editor AUTHORITIES should not intervene to reduce the ballooning deficit on SA's current account, its broadest measure of trade in goods and services,...

Economic crisis 'not bad enough'.
October 31, 2008... Byline: Linda Ensor Economic crisis 'not bad enough' Shock needed to force ideological and systemic changes in western world, says Sampie Terreblanche Political Correspondent CAPE TOWN The global economic crisis would probably not be...

Out with the old, in with new digital TV signals.
October 31, 2008... Byline: Jocelyn Newmarch Out with the old, in with new digital TV signals Media Correspondent YESTERDAY was a historic day for South African TV, which will begin to make the switch from analogue to digital broadcasting. The total...

Call for region to embrace free trade agenda.
October 31, 2008... Byline: Chris van Gass Call for region to embrace free trade agenda Cape Correspondent CAPE TOWN The trade liberalisation agenda in southern Africa and Africa as a whole needed to be strengthened, Tshediso Matona, the director-general of...

New game plan.
October 31, 2008... Byline: Lucas Ntyintyane New game plan I remember, not long ago, watching a local television station in Rome, Italy. I could not follow what they were saying, but I knew the topic: Africa. I didn't like what I saw poverty and human...

Power at any cost.
October 31, 2008... Byline: Phillip Musekwa Power at any cost The faction led by Mosiuoa Lekota is full of hypocrites. The golden thread uniting Lekota, Mbhazima Shilowa and those who support them is that they failed to impress the African National Congress...

Banal leaders.
October 31, 2008... Byline: S Kaye Banal leaders Mosiuoa Lekota is the Sarah Palin of the new Shikota" faction; of more use with his mouth shut. He comes across as an angry bully who has learnt nothing from his days as former president Thabo Mbeki's hatchet...

Strategy is failing.
October 31, 2008... Byline: Clement R du Plessis Strategy is failing What is it with the government, which continues to hand out national orders awards to, for example, cricket and rugby players when the composition of these teams continues to be under a...

Lekota no hero.
October 31, 2008... Byline: Herman Lategan Lekota no hero Xolela Mangcu is correct when he writes that Mosiuoa Lekota is an angry bully and therefore a dangerous politician (Intolerance is now major challenge to democracy, October 30). When Lekota held his...

What if ANC was in MDC's shoes?
October 31, 2008... Byline: George Uriesi What if ANC was in MDC's shoes? Just imagine if the apartheid government had disregarded the electoral laws and delayed the release of the 1994 election results by over a month, then released inconclusive results,...

Repossessed vehicle bargains to be had.
October 31, 2008... Byline: Madden Cole Repossessed vehicle bargains to be had 'Growing awareness' of the merits of buying low-mileage, late-model cars at auction, as opposed to new ones THE large car auctions scheduled by Park Village Auctions for Tshwane...

Redefine Fund raises distributable earnings 19%.
October 31, 2008... Byline: Loyiso Sibali Redefine Fund raises distributable earnings 19% Property Reporter JSE-listed property company Redefine Income Fund has reported double-digit distribution growth for the year to August, compared with the previous...

BAT balances distribution with new structure.
October 31, 2008... Byline: Thabang Mokopanele BAT balances distribution with new structure Tobacco behemoth reports 18% increase in operating profit for nine months to September with all regions contributing Trade and Industry Correspondent THE JSE's...

Hypnotic effect of daily market moves.
October 31, 2008... Byline: Ben Temkin PRIVATE INVESTOR/ Hypnotic effect of daily market moves THE Private Investor portfolio has become hypnotic. Each day I wait anxiously for the download of the stock market prices and, subsequently, the portfolio's...

George office block up for grabs.
October 31, 2008... Byline: Madden Cole George office block up for grabs A CENTRALLY located commercial property will be sold by Van's in George, focal growth point of the southern Cape. York House, a post-Victorian style building on Davidson Road, one...

Self-contained village lifestyle.
October 31, 2008... Byline: ROXZANNE VAN EYK Self-contained village lifestyle Arbour Village, the R150m residential component of the mixed-use Arbour Town development in Amanzimtoti, is starting to take shape, writes DEVELOPMENT HIGHLIGHT ARBOUR Town, a...

Loads of potential.
October 31, 2008... Byline: THUMESHNI MUDELIAR Loads of potential Witsand offers a historic property site with business potential, writes LIFESTYLE FEATURE FOR the high-end property investor looking for a change in lifestyle, pace and scenery, the coastal...

From vineyard to veld.
October 31, 2008... Byline: THUMESHNI MUDELIAR From vineyard to veld There are great fractional ownership perks through the exclusive Zorgvliet Residence Club, writes ALTERNATIVE INVESTMENTS THE Zorgvliet Group has launched the Zorgvliet Private Residence...

New view site in Camps Bay.
October 31, 2008... Byline: ANNA-MARIE SMITH New view site in Camps Bay Construction has begun at The Crystal, Camps Bay's latest apartment complex addition, writes CAPE NEWS CAMPS Bay, the well known Atlantic Seaboard jewel and playground of well heeled...

Investors turn to foreign markets.
October 31, 2008... Byline: Scott Picken Investors turn to foreign markets South African property investors are looking towards the UK and Australian markets THE moneyed South African property investor is very keen on overseas investments particularly in...

EDITOR's NOTE.
October 31, 2008... Byline: Michelle Swart EDITOR's NOTE TODAY HomeFront celebrates its fifth birthday, and I cannot believe that so much time has passed since this publication first launched. I'm sure I say that every year, but they do seem to fly. ...

Veggies win colour fight.
October 31, 2008... Byline: ALICE SPENSER-HIGGS Veggies win colour fight discovers that garden flowers are making way for vegetables DECOR & DESIGN ALL the signs were there, but at the opening of the Kirchhoffs trial gardens this month , the gardening...

Home with a touch of France.
October 31, 2008... Byline: Michelle Swart Home with a touch of France Designed to emulate a 16th century French chateau, our feature home is set within the Mooikloof Equestrian Estate in Pretoria SHOWCASE MOOIKLOOF is renowned for being a unique housing...

If you can't take the heat....
October 31, 2008... Byline: ALET ERASMUS If you can't take the heat.... gives some insight into the choice of ovens available Home Talk recommends.... HOME TALK AS MODERN household appliances have become so sophisticated in recent years, it is...

HOT PROPERTIES. Some dreams of the past ... This week, Home Front presents the top five homes from the past five years - PUBLISHED: 23 July 2004 - Bakoven, Cape Town.
October 31, 2008... PUBLISHED: 23 July 2004 SITUATED: Bakoven, Cape Town SETUP: This ultramodern home was to be auctioned, and included designer finishes and panoramic sea views. The home had four bedrooms and three bathrooms, of which two were en-suite, with...

HOT PROPERTIES. Some dreams of the past ... This week, Home Front presents the top five homes from the past five years - PUBLISHED: 1 July 2005 - Saddlebrook, Gauteng.
October 31, 2008... PUBLISHED: 1 July 2005 SITUATED: Saddlebrook, Gauteng SETUP: Located in Saddlebrook Estate, this country home was set on two and a half acres of landscaped gardens. The property included two homes designed by Guy Fleuriot. There was also a...

Some dreams of the past ... This week, Home Front presents the top five homes from the past five years - PUBLISHED: 8 December 2006 - Hyde Park, Gauteng.
October 31, 2008... PUBLISHED: 8 December 2006 SITUATED: Hyde Park, Gauteng SETUP: This neo-classical Spanish villa was positioned in sought-after Fourth Road and consisted of a lounge, dining room, family room, closed-in patio, fitted bar, gym, large gourmet...

HOT PROPERTIES. Some dreams of the past ... This week, Home Front presents the top five homes from the past five years - PUBLISHED: 14 December 2007 - Jeffrey's Bay, Eastern Cape.
October 31, 2008... PUBLISHED: 14 December 2007 SITUATED: Jeffrey's Bay, Eastern Cape SETUP: This 534m beachfront home was situated in the Wavecrest suburb and consisted of five bedrooms, five bathrooms, six balconies, all with 180 sea views, a guest toilet,...

HOT PROPERTIES. Some dreams of the past ... This week, Home Front presents the top five homes from the past five years - PUBLISHED: 4 April 2008 - Morningside, Gauteng.
October 31, 2008... PUBLISHED: 4 April 2008 SITUATED: Morningside, Gauteng SETUP: Situated in a secure boomed cul-de-sac, this double-storey home had three en-suite bedrooms, reception rooms, two full cottages, a patio and swimming pool. The home was set on a...

Looking at the brighter side of things.
October 31, 2008... Byline: PROFANE VAN EYK Looking at the brighter side of things Instead of taking a pessimistic view of SA's infrastructure issues, looks at all that is positive INFRASTRUCTURE ISSUES AT THE Randburg Chamber of Commerce and Industry's...

PROPERTY BY NUMBERS - September 2008 Provincial overview.
October 31, 2008... September 2008 Provincial overview PROVINCE AVERAGE PRICE TRANSFERS GAUTENG R2475160 3806 NORTHERN CAPE R1944523 220 WESTERN CAPE R1175600 1769 NORTH WEST R983978 561 EASTERN CAPE R924140 788 KWAZULU NATAL R920494 1235 LIMPOPO R773433 298...

PROPERTY BY THE NUMBERS - September 2008 Top 5 suburbs: average price.
October 31, 2008... September 2008 Top 5 suburbs: average price PROVINCE SUBURB AVERAGE PRICE WESTERN CAPE BANTRY BAY R 24 277 939 GAUTENG PRETORIA CENTRAL R230 000 000 GAUTENG SANDOWN R176 450 907 WESTERN CAPE BISHOPSCOURT R17 000 000 WESTERN CAPE STEENBERG...

Find a comfortable life perched on a big rock.
October 31, 2008... Byline: THUMESHNI MUDELIAR Find a comfortable life perched on a big rock The secluded seaside haven of Llandudno is the setting of an exclusive modern designer mansion, writes PROPERTY HIGHLIGHT AN EIGHT-bedroom luxury mansion with...

UNIQUE PROPERTY OPPORTUNITY.
October 31, 2008... UNIQUE PROPERTY OPPORTUNITY THE recently launched Bay Golf Estate, overlooking the Hartbeespoort Dam, has a unique offering to the interested public visit the site, make a hole-in-one and become an instant million-rand property owner! It is,...

LOCATION, LOCATION, LOCATION.
October 31, 2008... LOCATION, LOCATION, LOCATION AENGUS Property Holdings proves its success at rendering property investing simple, hassle-free and lucrative. Property investors who have bought into the Aengus stable of properties are pocketing net rental...

GLOBAL GREEN BUILDING CONVENTION.
October 31, 2008... GLOBAL GREEN BUILDING CONVENTION THE Green Building Council of SA was represented at this year's World Sustainable Building Conference. The event brought together leading green building thinkers and practitioners from around the world to...

LOCKED ON INFLATION.
October 31, 2008... LOCKED ON INFLATION THE inflation target band will remain unchanged at 3%-6%, Finance Minister Trevor Manuel has said. In January, however, the measure of inflation will change from the current CPIX inflation to headline CPI. This should...

OUR COUNTRY MAY BE NOT SO BAD AFTER ALL.
October 31, 2008... OUR COUNTRY MAY BE NOT SO BAD AFTER ALL WITH very few agencies able to lay out the cost to exhibit in the present economic climate, Seeff Properties reports that exhibitions are the last marketing activity they would cut. The market is more...

PROPERTY BY THE NUMBERS - September 2008 Top 5 suburbs: highest number of transfers.
October 31, 2008... September 2008 Top 5 suburbs: highest number of transfers PROVINCE SUBURB NO OF SALES WESTERN CAPE LAAIPLEK 77 KWAZULU-NATAL NGWELEZANA A 54 GAUTENG PROTEA GLEN 49 GAUTENG VEREENIGING 45 GAUTENG MAHUBE VALLEY 43

Quality of reports impress.
October 31, 2008... Byline: David Jackson Quality of reports impress THE judges of this year's Chartered Secretaries/JSE annual report awards say they were gratified at the number of entries received this year and that there were a large number of first...

Governance a turmoil shelter.
October 31, 2008... Byline: David Jackson Governance a turmoil shelter AngloGold Ashanti takes top honours in annual report awards hosted by Chartered Secretaries and JSE, writes DAVID JACKSON ANGLOGOLD Ashanti has scooped the pool in this year's Annual...

Wide range of issues at stake.
October 31, 2008... Byline: David Jackson Wide range of issues at stake THE top-40 companies award in this year's annual report awards was won by Barloworld, with Anglo Platinum and Sappi the runners-up. Sibani Mngomezulu, Barloworld's head of governance...

Crunch time for the BEE partners.
October 31, 2008... Byline: Andrew Gillingham Crunch time for the BEE partners THE long-awaited next phase of BEE deals and consolidation may be starting to take shape, partially driven by present market conditions. Peter Hayward-Butt, co-head of...