Bumpy road ahead for diamond players

1 January, 2008 in Africa

source: India Times
1 Jan, 2008, 0024 hrs IST,Nidhi Sharma, TNN

MUMBAI: The Indian diamond industry is in for rough days. The recent decision of Diamond Trading Company (DTC), the distribution arm of De Beers Group, to remove several Indian companies from its list of sightholders has come as another setback for an industry reeling already under the impact of a stronger rupee.

The exit of several Indian companies from the sightholders’ list will certainly make sourcing of rough diamonds difficult for these companies. This could affect the manufacturing activity.

According to market participants, DTC assured regular supplies of [continue reading]

SA: State intends to call 218 witnesses in Zuma case

1 January, 2008 in South Africa

source: SABC News

December 31, 2007, 16:15

The State has identified a list of 218 witnesses it intends calling to testify in its case against the African National Congress president Jacob Zuma.

Attached to the indictment, filed in the Pietermaritzburg High Court, the list of witnesses includes Independent Democrats party leader Patricia de Lille, former Judge Willem Heath and former ANC MP Andrew Feinstein.

The indictment was filed today, shortly after midday as Zuma was about to hand out presents to children in his home district of Nkandla. Zuma faces 16 charges in total, one count of racketeering, two counts of corruption, one count of money laundering and 12 counts of fraud.

The two South African subsidiaries of Thales International (formerly Thomson-CFS), Thint Holding (Southern Africa)Pty Ltd and Thint(Pty)Ltd each face a charge of [continue reading]

Phane exporters furious over permits

1 January, 2008 in Botswana, Business

source: BOPA
31 December, 2007

SELEBI-PHIKWE – Phane exporters in Bobirwa and Tswapong North were left counting their losses during the festive season after the Department of Forestry and Range Resources office in Selebi-Phikwe failed to issue them permits to export phane to South Africa where there is a lucrative market for the delicate worm.

Newly introduced phane export permit irked phane exporters who claimed that the department failed to issue them export permits for three weeks, thus hurting their business.

The exporters were also suspicions that the department might have been ill prepared for issuing permits to phane exporters, questioning why permits were introduced but not issued.

We have been coming here with our consignment so that the DFRR could issue us permits but all in vain, said one member of the Phane Traders and Exporters Group, Mr Oageng Makgosa, pointing to vans full of phane packed outside the DFRR premises.

Mr Makgosa said the exporters visits to department had become a daily routine as [continue reading]

Tourists complain of severe potholes

1 January, 2008 in Botswana, Tourism

source: BOPA
31 December, 2007

PALAPYE – Some tourists who used the Gaborone-Francistown Road to travel to the northern part of Botswana have complained about the numerous potholes in most of the countrys roads.

Mr Phillip Sello, deputy leader of the Topisi road safety station, said in an interview that the tourists complained that the potholes posed a threat to the safety of road users.

Mr Sello said the tourists also complained about domestic animals, which were found unattended on the road reserves.

They said they saw livestock crossing the road with no one in sight, he said. In their view, this is something that needs to be [continue reading]

Zimbabwe: $200 000 Note to Stay for Now

1 January, 2008 in Zimbabwe

source: allAfrica
The Herald (Harare)

1 January 2008
Posted to the web 1 January 2008

Victoria Ruzvidzo
Harare

THE Reserve Bank of Zimbabwe has extended the lifespan of the $200 000 bearer cheques until further notice in response to challenges in cash swaps caused by countrywide incessant rains and flooding in some instances, while it also emerged yesterday that the “tactical move” to de-monetise the note had achieved the intended results.

The denomination had been scheduled to expire yesterday.

A statutory instrument revoking this was published in an Extraordinary Government Gazette released yesterday.

“All economic players are, therefore, advised and required to continue fully accepting the $200 000 bearer note, as it is a legitimate part of our [continue reading]