South Africa

Electricité de France SA and Constellation Energy Group Inc.agreed to end a joint venture

On Tuesday, both Constellation Energy Group Inc. and Electricité de France SA have decided to end a joint venture for developing nuclear power plants jointly after their relationship turned sour in recent months.

The problem started in this fall with the five year old JV named UniStar when Constellation did not apply for the federal loan guarantee for the first project of the partnership stating it to be very expensive.

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Tara KLamp gets backing of the KwaZulu-Natal government

The contentious Tara KLamp is getting the support of KwaZulu-Natal government for circumcising young males in the province.

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Surprisingly enough, SABC board is backing Nicholson

Yesterday the SABC board had approved Robin Nicholson as the acting CEO of the group although he is not supported by the Communications Minister Siphiwe Nyanda, the SABC and even by some of the board members.

Actually there were speculation regarding the post of acting CEO hold by Nicholson and believed that his days in that post are numbered because the chairperson of the SABC board Mr. Ben Ngubane told Parliament that Mr Nicholson, legally can’ hold the post as he is also the chief financial officer.

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DA supports Cosatu in efforts to reduce interest rates

Cosatu is getting the support of DA which just before the announcement of the mid-term budget policy statement that would be happening tomorrow has joined the movement for bringing down the interest rates. If this is done then the rand the country’s currency will be devaluated.

Dion George, finance spokesperson of DA, before the statement made by the finance minister of DA, Mr. Pravin Gordhan said that if the interest rates are lowered then it will have a positive impact on the country’s currency, rand. Actually he meant the value of rand will be weakened.

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