Archive for March 6th, 2007

BUSINESS NEWS
from iAfrica
Alison Maltz
Mon, 05 Mar 2007

The JSE headed into the red for the year on Monday as concerns about a slowdown in China and the US shook global markets to the core. Lower commodity prices exacerbated the local market’s woes and losses would have been a lot steeper were it not for a sharply weaker rand.

The all share index tumbled 2.51 percent to close at 24 919.460. It was its lowest close since 12 January.

Resources retreated 2.63 percent, the gold mining index surrendered 2.48 percent and the platinum mining index plunged 4.15 percent. Industrials and financials fell 2.12 percent and 2.98 percent respectively, while the banks index dropped 4.24 percent.

The rand was bid at 7.47 per dollar from 7.34 when the JSE closed on Friday, while gold was quoted at $635.50 a troy ounce from $652.40/oz at the JSE’s last close. [continue reading]

source IOL
March 05 2007 at 03:56PM

A Limpopo man has fought off a crocodile with a flick knife after the reptile grabbed his leg, News24 reported on Monday.
It said Michael Sithole, 37, of Sasekani village near Tzaneen was fishing from a rock when the crocodile attacked.
“It wanted to turn me into minced meat,” he said.
The attack came on Tuesday afternoon after Sithole had spent a long day fishing along the banks of the Letaba River.
“I had taken a dip to cool off and was sitting on the rock with a cloth over my face when I suddenly felt a bite on my thigh,” he said.
When he realised what was happening, he grabbed the flick knife he had used to cut his bread earlier in the day.
“By the time I flipped it open, the crocodile had already dragged me to the middle of the river,” he says.
Sithole stabbed the crocodile in its back, but the reptile’s scales were too thick. He then went for the reptile’s stomach, stabbing it four times.
This was too much for the crocodile which let him go.
“Thank goodness the knife was still new, so it was sharp enough to penetrate,” he said.
Sithole was able to drag himself out of the river. Leaning on a stick, he made his way to a farm where his father works.
He was taken to Letaba Hospital, where he was being treated for minor injuries to his right leg and hands. – Sapa

Mmegi/The Reporter (Gaborone)
March 5, 2007
Posted to the web March 5, 2007

Kabo Mokgoabone

Former Orange Botswana Chief Executive Officer (CEO) and now Microsoft General Manager for East and Southern Africa, Thapelo Lippe, has refused to put his head on the block and say he will perform miracles for the global software giant. The celebrated young Information Technology (IT) specialist joined Microsoft in Kenya recently after turning Orange Botswana’s fortunes around.

He said on the sidelines of the launch of Microsoft Vista retail version in Gaborone last week that he hopes to succeed [continue reading]

Source IOL
March 05 2007 at 09:25AM

The petrol price is set to rise by 24-cents a litre at midnight on Wednesday.

The minerals and energy department said an increase in fuel prices would include 10 cents a litre in diesel with a sulphur content of 0,05 percent and would increase by eight cents a litre in diesel with a sulphur content of 0,005 percent.

Minerals and Energy Department spokesperson Bontle Mafuna said the wholesale price of illuminating paraffin would rise by 10-cents a litre, while the single maximum national retail price of illuminating paraffin would increase by 13-cents a litre.

Mafuna said the main factor cited for the rise in prices was that the average international product prices of petrol, diesel and illuminating paraffin increased. She said that the average rand/US dollar exchange rate had weakened slightly when compared to the previous period when a change in prices last occurred. – Mercury Correspondent

from IOL