Green light from car sales, red from graft

SOUTH Africa’s new vehicle sales rose by 0.4% year on year to 51 256 units in November, data from the National Association of Automobile Manufacturers showed. Exports were up 0.2% at 28 112 units compared with the same month last year. HARMONY Gold, which gets about 95% of its production from South Africa, repaid R1.1-billion of debt, or 27% of its total, as a plunging local currency relative to the dollar boosted cash flow, the company said. SASOL and the Mozambican and SA governments will invest $210-million to build a new gas pipeline by 2017 that would increase the amount of gas shipped from Mozambique to its bigger neighbour, it was announced. FASHION retailer Truworths said it had entered into an agreement to buy an 88.9% stake in Britain’s Office Retail Group for R5.5-billion. Office, a footwear retailer with 150 stores, would be its first foray into Europe. A MAJORITY of Africans said corruption had risen in the past 12 months and most governments were seen as failing to stop bribery and secret deals, a poll by Transparency International showed. South Africa was ranked the continent’s most corrupt nation. SOUTH Africa’s trade deficit widened more than expected to R21.39-billion in October from a revised R1.26 billion shortfall in September, SARS said. Exports fell 6%, while imports jumped 15.7% on a month-on-month basis. THE Merchantec CEO Confidence Index‚ compiled from a survey of 1 000 top CEOs of primarily listed companies‚ fell to 41 points this quarter‚ the lowest score since its inception in the second quarter of 2009. PETRA Diamonds and a partner agreed to buy De Beers’ Kimberley Mines in South Africa, ending the biggest producer’s 127-year control of the operation that was the catalyst for the modern diamond industry.