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May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
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The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Washington - The United States said on Thursday it had abstained from supporting the World Bank's $3.75 billion loan for a coal-fired plant being built by South African state utility Eskom, saying it was concerned with the environmental impact of the project.
World Bank board members are meeting in Washington to decide on whether to grant the power utility a multi-billion rand loan.
"This reflects concerns about the climate impact of the project and its incompatibility with the World Bank's commitment to be a leader in climate change mitigation and adaption," the US Treasury said in a statement.
The loan is expected to be approved regardless of US, Dutch and possible British opposition. Board decisions are arrived at through consensus among member countries rather than through voting, and countries can indicate opposition by abstaining from discussion of the issue.
- Reuters