Fancy an EU passport? Yours for R16m

By SAPA-DPA Malta, the European Union’s smallest member, on Monday raised the price it will charge well-heeled foreigners for citizenship from 650 000 euros to 1.15 million euros (R16.25m). The scheme, which effectively offers work and residency rights within the 28-nation EU bloc and the passport-free Schengen area, has been rejected by the opposition and … Read more

BA Jumbo hits building at OR Tambo (pic)

From SA Press Association: Four airport staff were injured when a British Airways Boeing 747-400 hit a building at OR Tambo International Airport, in Kempton Park, shortly before taking off for London, the Airports Company of SA (ACSA) said on Monday. The pic on the right showing the damaged wing was taken by a passenger … Read more

South Sudan loses control of oilfields to rebels

From the SA Press Association: South Sudan’s central government lost control of the capital of a key oil-producing state on Sunday, the military said, as renegade forces loyal to a former deputy president seized more territory in fighting that has raised fears of full-blown civil war in the world’s newest country. Bentiu, the capital of oil-rich … Read more

Blackberry shares surge after handset exit

Blackberry on Friday reported losses worth US$4.4bn for its third quarter ending in November, but shares rose 15% in trading as investors cheered its exit from handset manufacturing. The struggling Canadian smartphone pioneer posted losses totalling $965m in the second quarter. The five-year manufacturing deal with Foxconn will help the company avoid future writedowns on … Read more

Newgold signal for gold to platinum switch

JSE-listed physical gold ETF Newgold has repurchased almost R250m worth of its units after investors cashed in 2m of the listed debentures. The repurchase represents just under 20 000 ounces of gold. The Newgold Gold ETF holds a combined 1.3m ounces of gold, worth R16.3bn. The company’s Platinum ETF earlier today announced the creation of … Read more

Durban Metro wants to jail Tongaat builder

The eThekwini municipality wants Ravi Jagadasan, whose company built the Tongaat mall which collapsed last month, to be jailed for contempt of court, The Star reported on Thursday. Alternatively, the city also asked the Durban High Court to impose a fine on Jagadasan’s company, Rectangle Property Investments. Two construction workers died and 29 were injured … Read more

Kiwi GDP improves to 5.6% after dairy boost

New Zealand’s GDP grew at an annual rate of 5.6 percent in the third quarter, up 3.5% year on year. The September quarter was the strongest in nearly four years, driven by a 17% increase in agricultural output as farmers recovered from drought. International dairy prices have also been robust. New Zealand’s economy relies on … Read more

Tapering sends US stocks to record highs

US stock markets set new records after its Federal Reserve chairman Ben Bernanke announced that it would scale back its monthly cash injection via a bond-buying programme from $85bn to $75bn. This indicates the Fed intends keeping interest rates low. The Dow rose 1.8% to 16 168 and the S&P500 was up 1.7% at 1 … Read more

Cape Times editor supported after dismissal

The furore around the dismissal of Cape Times editor Alide Dasnois has taken a new turn as the Right2Know Campaign drafted a strongly worded Memorandum to Iqbal Surve’ new head of Independent News & Media SA. It describes Surve’s response as “spinning the incident as a labour relations matter rather than owning up to your … Read more