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Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Johannesburg - Analysts Lehman Brothers think the likelihood of an Eskom credit downgrade in coming weeks may have increased as
the credit rating agencies were probably looking for it to be given extra money after the smaller-than-requested tariff award by Nersa, but this has not happened.
This view comes after the government announced on Friday that it would restructure the promised R60bn loan for the energy parastatal Eskom.
Instead of being spread over five years, the funds will now be spread over three years in R10bn, R30bn and R20bn instalments.
"There is no new money, however, as the Treasury wishes to push for the implementation of more stringent demand-side management and address concerns about macro-fiscal position," noted the analysts.
- I-Net Bridge