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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 11:49
The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.
May 27 2012 11:05
As far as repayments on home loans are concerned, South Africans are in a much more favourable position than their foreign peers.
Johannesburg - Sasol, which was fined €318.2m by the European Commission this week for being part of a cartel to fix prices, said on Friday it would immediately make financial provisions for the fine in its accounts.
"We could not provide for the fine because we didn't know what the size of the fine would be," Pat Davies, Sasol's chief executive officer told a press briefing.
"We will provide R3.8bn for the fine immediately. The money will come from our treasury, we have strong cash flow. Whatever operating profit was going to be this year we have to subtract the fine from that."
He said Sasol planned to appeal the fine, which would take a long period of time. Sasol is obliged to pay the fine within three months.
- Reuters