Archive for October 20th, 2010

source: Mmegi
Staff Writer

The government has revised upwards its GDP forecasts for 2010 from 5 percent to 7.9 percent largely due to recovery in the mining sector that traditionally contributes 33 percent of the GDP.

According to the 2011/12 Budget Strategy Paper (BSP) that will form the basis of preparations for the next national budget to be announced next February, the government has revised GDP, revenue and expenditure forecasts for the next three years, laying the foundation to attain the target of a balanced budget by the year 2012/13.

Announcing the 2010/11 national budget early this year, the Minister of Finance and Development Planning (MFDP), Kenneth Matambo, put this [continue reading]

source: IOL
October 19 2010 at 11:55pm

Johannesburg – Public sector unions have accepted government’s wage offer, the South African Democratic Teachers’ Union (Sadtu) confirmed on Tuesday evening.

“An agreement has been signed… We have accepted the government’s wage offer,” Sadtu spokesperson Mugwena Maluleke told Sapa.

He said the government had agreed to increase public workers’ salaries by 7.5 percent, backdated to July 1.

Other features of the agreement include an R800 housing allowance, also backdated to July 1.

“We are still going to go through the process on a few things… Like medical aid which will hopefully be negotiated and implemented by [continue reading]

source: SW Radio Africa
By Alex Bell
19 October 2010

Robert Mugabe has threatened to retaliate if ambassadors he unilaterally appointed to the United Nations (UN) and the European Union (EU) are sent back to Zimbabwe.

Prime Minister Morgan Tsvangirai last week told the EU and the UN that ambassadors appointed solely by Mugabe don’t speak on behalf of the whole government. Tsvangirai wrote a series of letters stating his position that appointments made unilaterally by Mugabe were “null and void,” as they were done without consultation. This included a letter to EU president Jose Manuel Baroso and letters to the UN and four countries.

Tsvangirai also told reporters earlier this month that his MDC party will refuse to recognise these appointments, including Reserve Bank Governor Gideon Gono, Attorney General Johannes Tomana, five judges named in May, and the six ambassadors, appointed in [continue reading]

source: Mmegi
Staff Writer

Yesterday, reports emerged indicating that GMR Group, an Indian energy and infrastructure enterprise, is offering between US$8.50 and US$8.85 per share for CIC Energy, valuing the company around US$500 million (P3.38 billion).

In addition, another unnamed Chinese company is reportedly preparing a bid for CIC Energy, due to be unveiled by October 30.

The two bids come as CIC Energy and the “multi-billion Pula Indian conglomerate” – which has been widely identified as JSW, are bound to an exclusivity period expected to last a number of weeks. Under the agreement, CIC Energy will not solicit, initiate or encourage submission of further offers or participate in negotiations with parties other than JSW.

The Indian conglomerate – whose offer of 7.75 Canadian Dollars (US$7.60/P50) per share is below the latest offers – is presently conducting a [continue reading]

source: News24
2010-10-19 18:12

Johannesburg – The system used to screen tourists coming into SA during the 2010 Soccer World Cup will remain in use, air transport IT specialist Sita said on Tuesday.

“The government will continue to use the Sita Advance Passenger Processing system, ensuring continued high levels of security and smooth arrivals for visitors to South Africa,” the organisation said in a statement on Tuesday.

More than 1.5 million passengers were “processed” in June and July using the system.

Of these, about 350 were subjected to extra examination, while more than 60 people were stopped from entering the country because their names appeared on a [continue reading]

source: Mmegi

LUSAKA: A five-member International Press Institute (IPI) delegation is in the country to help resolve differences between media practitioners and the Zambian government over planned media regulation.

Headed by acting director Alison Bethel McKenzie, the IPI delegation hopes that the visit will yield the desired results. The government has maintained its stance to regulate the media through an Act of parliament, while media practitioners advocate self-regulation.

Lack of progress on the issue has thus prompted the IPI to intervene, in a bid to end the stalemate cause by President Rupiah Banda’s administration, which seems to be pandering to the gallery ahead of the 2011 general election.

IPI’s press freedom advisor, Naomi Hunt says the [continue reading]

source: News24
2010-10-19 17:23

Pretoria – South Africa would again vote “no” to UN sanctions against Zimbabwe should the issue return to the agenda of the Security Council during its second term.

“If a similar situation were to arise, South Africa will vote no,” said international relations director general Ayanda Ntsaluba in Pretoria on Tuesday.

He was referring to last term (2007-2008) when South Africa blocked sanctions against Zimbabwe – also voting against resolutions on Myanmar and Iran – “areas which materially we voted wrongly as some people say. We would contest that.”

South Africa surprised many during its first term on [continue reading]