Nokia To Reboot Iconic 3310

Finnish manufacturer HMD – the new home of Nokia phones – has announced that the iconic 3310 will be rebooted alongside two other devices later this month. The company is set to launch the 3310 alongside two new Android powered smartphones – the Nokia 5 and Nokia 3. The Nokia 150 and Nokia 150 Dual SIM, which are expected to come at a cost of around $26 (R355).

State Agrees Deal With Construction Companies

All the companies — apart from Murray & Roberts, which has sold its South African business to empowerment entities — have agreed to sell stakes to or mentor and financially support black-owned construction companies. This included paying R1.5bn over 12 years into a trust governed by a board appointed by the state, the construction companies and the South African Forum of Civil Engineering Contractors. The companies are Murray & Roberts, Group Five, WBHO, Stefanutti , Raubex, Basil Read and Aveng. They reached an agreement with the government last year after claims they colluded in the 2010 Soccer World Cup projects.

PPC And Afrisam Negotiating Merger

PPC and Afrisam have entered into formal talks to assess the merits of a merger between the two cement producers. PPC and Afrisam are searching for growth opportunities on the continent to offset a tough domestic market, which is under pressure from low demand, oversupply and competition.

Tshwane Follows Joburg In Uncovering Traffic Dept Fraud

Tshwane has uncovered massive corruption in its licensing department‚ with crooked officials costing the municipality millions in traffic fine revenues and arrears. The practice is called dumping where officials would take bribes to transfer fines onto innocent peoples accounts and the department is forced to write off those fines because the new person takes them to court and they cant prove it was his fines in the first place. its a crazy practice and its just the tip of the iceberg. This happens countrywide.

Adapt IT Turnover Grows 48%

The company, which provides specialised software solutions and services to the education, manufacturing, energy and financial services sectors, says it continues to benefit from its acquisitive growth strategy. Adapt IT grew turnover 48% to R461 million in the first half of the year. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 44% to R90 million, from R62 million the prior year.

Premier Foods & Fishing To List In March

Premier Foods and Fishing, a subsidiary of African Equity Empowerment Investments, will list on March 2. The company, in existence since 1952 and previously called Sekunjalo Industrial Holdings, will invite investors to subscribe to the private placement at R4.50 a share.

Currencies And Stuff

JSE 52’74 –  Oil 55.59 – Rand/USD 13.27 – Rand/GBP 16.60 – Rand/EUR 14.08
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Author: The Turk Report

Simplifying complex money matters

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