Archive for April 23rd, 2010

source: Mmegi
STAFF WRITER

Although inflation is expected to rise in the short-term due to tax and power tariff increases, the Bank of Botswana (BoB) has once again left interest rates unchanged.

In February, BoB left its main lending rate steady at 10 percent, saying longer-term inflation was seen under control while economic growth remained weak.

In an e-mailed statement, BoB spokesman Chepete Chepete says the Monetary Policy Committee (MPC) met on Tuesday and decided to again leave the bank rate unchanged at 10 percent because the current state of the economy and the assumptions on both the domestic and external economic outlook, as well as the inflation forecast, suggest that “maintaining the prevailing interest rates is [continue reading]

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source: BOPA
22 April, 2010

HUKUNTSI – The misuse of government vehicles is on the increase in the Kgalagadi District.

The Kang Central Transport Organisation (CTO) principal technical assistant, Ms Malebogo Mothibamele, said the level of misuse stands at about 29 per cent for the 2009-2010 financial year.

In her report to various heads of government departments in the Hukuntsi Sub District, Ms Mothibamele said supervisors connive with drivers to misuse government vehicles.

It has come to our attention that supervisors abuse their authority and work hand in hand with drivers when it comes to the misuse of government vehicles, wrote Ms Mothibamele.

Ms Mothibamele advised transport officers to ensure that each journey is authorised, and that drivers should also [continue reading]

source: Mmegi

Controversial new policies to give black Zimbabweans majority stakes in foreign companies in the country have scared off investors from abroad, stock exchange Chief Executive Emmanuel Munyukwi said yesterday.

Munyukwi said in an interview, orders from foreign investors had dried up since the end of January when Zimbabwe moved to implement the Indigenisation and Economic Empowerment Act that requires foreign firms sell a 51 percent stake to local blacks

“Last year, our market was being driven by foreigners, upwards of 40 percent were foreigners and net buyers. But from the end of January with the gazetting of the indigenisation regulations, there has been a lot of uncertainty and foreigners have put a hold on their transactions,” Munyukwi said.

A minister said on Tuesday the transfer of control of foreign companies would begin [continue reading]

source: Fin24
Apr 22 2010 21:54 Joan Muller

Johannesburg – South Africans who were supposed to fly to Europe over the last week but have postponed their trips because of Iceland’s volcanic ash disruption will have to brace themselves for the tedious and costly exercise of re-applying for expired visas.

Travel insurers, however, have adopted a more lenient approach with most companies offering extended cover at no additional cost to South Africans affected by the six day shut-down of European airspace.

Claude van Keyrsbilck, a board member of the Association of South African Travel Agents (Asata), said at this stage it appears unlikely that European consulates will automatically extend [continue reading]