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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.
Cape Town - South African Airways (SAA) will have to fly solo from next year, when the government's guarantee is withdrawn.
In the current financial year the guarantee is worth about R1.5bn. This is granted to SAA by the Department of Public Enterprises.
On Wednesday Department of Public Enterprises transport deputy director-general Dr Andrew Shaw told the committee for public enterprises that 2010 would be a strong, healthy year for SAA.
Over the 18 months of the airline's restructuring there has been a noticeable turnaround in its profit margins, although passenger numbers have declined owing to the economic crisis.
Shaw said that an analysis of SAA's strategic options was needed in the coming years, and its flight routes should be reviewed.
Analyses by the department show that SAA's low-cost airline Mango is making a profit for the first time.
National Treasury and the Department of Public Enterprises are busy with an overview of government institutions.
Advocate Sandra Coetzee, the department's acting director-general, says that although government institutions' performances have not been ideal, their dependence on the fiscus has reduced.
State weapons manufacturer Denel is however one of the government institutions that might receive further assistance from government.
- Sake24.com