... Holdings, the broad-based womens empowerment group, has joined the board of Protech Khuthele, the JSE-listed fast-track bulk earthworks operation. Nkosis appointment follows Lidongas purchase of a 5% stake in ...
Monday, March 24, 2008
Ex-HerdBuoy moving up at Absa
Stocks Rise on Bear Stearns Deal
Wall Street extended its big advance Monday as investors grew upbeat over a revised agreement that will give Bear Stearns Cos. shareholders five times the payout than was outlined in a deal a week ago. Investors were also pleased by a stronger-than-expected housing report.
UAE decides to go nuclear
Commodity Online ABU DHABI: The UAE on Sunday decided to set up an agency to assess and develop a peaceful and fully transparent nuclear energy programme.
Vodafone wants stake in South Africas MTN - report
JOHANNESBURG (Reuters) - Global mobile phone giant Vodafone is in preliminary talks seeking a stake in South African-based cellphone company MTNs international operations, a newspaper reported on Sunday.
Saturday, March 22, 2008
Chinas looming Olympics disaster
The Beijing games are supposed to showcase Chinas stature on the world stage. But theyre producing protests at home and may shut down big hunks of the nations economy.
Why Exxon wont produce more oil
The energy giant is being managed to achieve an acceptable investment return for shareholders, not for the benefit of consumers. Less supply of crude oil means higher prices -- and record profits.
Wednesday, March 12, 2008
GO Capital Halts Redemptions From Global Hedge Fund
(Bloomberg) -- GO Capital Asset Management BV blocked clients from withdrawing cash from its Global Opportunities Fund, at least the seventh hedge fund in the past month forced to take steps to protect itself from falling markets.
Frans van Schaik, the former head of equity research at ABN Amro Holding NV who founded the Amsterdam-based fund in 2000, wrote to investors that the fund is not leveraged and not facing margin calls. The fund, which bets both on rising and falling prices, has assets of about 570 million euros ($881 million).
``A temporary suspension of redemptions is the best defensive measure to protect the interests of the participants,'' van Schaik and other members of GO Capital's management said in a letter posted on their Web site and dated March 11. ``Current market circumstances do not allow the fund to sell investments at a reasonable price.''
At least six hedge funds totaling more than $5.4 billion have been forced to liquidate or sell holdings since Feb. 15 as contagion from the U.S. subprime slump spreads for a seventh month. Others include Peloton Partners LLP's $1.8 billion ABS Fund, Tequesta Capital Advisor's mortgage fund and Focus Capital Investors LLC, which invested in midsize Swiss companies.
GO focused mostly on listed European equities, although it was not restricted in investments it could make, the Web site says. The fund planned to make bets on between 10 and 30 stocks and looked for ``situations of overreaction or stress,'' according to the Web site.
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