Archive for May 5th, 2007

source: BBC News
Last Updated: Saturday, 5 May 2007, 10:00 GMT 11:00 UK


Kenya plane ‘crashes in Cameroon’


A Kenya Airways plane with 115 people on board has crashed in southern Cameroon, state radio reports. The flight, which originated in Ivory Coast, was reported missing on Saturday after it failed to arrive in Nairobi.

Kenya Airways has not confirmed the crash. It said people from at least 23 different nationalities were on board, including five Britons.

Kenya’s national carrier has a good safety record. However, 169 people died when one of its planes crashed in 2000.

The BBC’s Karen Allen in Nairobi says the Boeing 737-800 may be part of a new fleet bought recently by the airline, raising questions whether other aircraft will be taken out of service. [continue reading]

source: BOPA
04 May, 2007

GABORONE – The three leading listed commercial banks in the country dominated the Botswana Stock Exchange trade in the past week.

The three Standard Chartered Bank, Barclays Bank and First National Bank traded over one million shares.

Standard Chartered Bank ended the week having traded over 900 000 shares according to a weekly report from Capital Securities.

Barclays Bank and First National Bank traded a total of 893 000 shares. However, despite the increased trading across these banking stocks, the report says share prices did not follow the trend as most recorded marginal gains of less than 1 per cent.

Barclays shares closed the week unchanged at 900t with over 460 000 shares traded, says the report.

It says the heavy selling on the counter seems to be slowing down, but that demand for the shares still remains weak on the market.

Despite the slow down in selling we still maintain a SELL recommendation on Barclays Bank. We expect the price to trade below [continue reading]

source: BOPA
04 May, 2007

GABORONE – Botswana Export Development and Investment Authority (BEDIA)s operations for the year ended at March 31, 2006 showed a deficit of P18.59 million as compared to a surplus of P11.21 million in the previous year.

The Auditor Generals Annual Report says the main reasons for the negative results were the increase in total expenditure from P25.04 million to P33.10 million and the reduction in government grants from P26.12 million in the previous year to P5.88 million in the financial year under review.

As at March 31, 2006,the report says the authoritys working capital showed that the current assets amounted to P35.74 million while current liabilities were P5.53 million, giving a net current asset position of P30.21 million.

This is a reduction of P32.29 million in [continue reading]

source: IOL

May 04 2007 at 04:38PM

Gidani, the consortium that lost the national lottery licence after a court appeal by operator Uthingo, on Friday said it supports the trade and industry department’s position on the need to do a thorough job before appointing a new operator.

This follows Trade and Industry Minister Mandisi Mpahlwa’s failure on Thursday to give a definite date for the appointment of a new operator.

Mpahlwa said the National Lottery Board needed more time to complete its work.

“Gidani acknowledges the minister’s statement and is fully co-operative with the exercise he is engaged in,” the company said in a statement.

Mpahlwa suspended the Lotto on March 31, hours [continue reading]