{{ 'Go back' | translate}}
Njus logo

Construction news | Njus South Africa

Iran says UK-flagged tanker ‘ignored distress call,’ taken to Bander Abbas

Construction News South Africa

Iran has taken a British-flagged oil tanker it seized in the Strait of Hormuz to Bandar Abbas port, where it and its crew will remain while an investigation into the vessel’s conduct is carried out, Iran’s Fars news agency said on Saturday.
'Iran has taken a British-flagged oil tanker it seized in the Strait of Hormuz to Bandar Abbas port, where it and its crew will remain while an investigation into the vessel’s conduct is carried out, Iran’s Fars news agency said on Saturday.'

EOH lifts lid on R1bn scandal; Tongaat seeks debt lifeline; Amplats dazzles; GEPF looks offshore; Thiel targets Google

Construction BizNews.com

EOH CEO Stephen van Coller said an internal probe revealed that “about eight” people had been involved in a “suspicious transaction” totalling R1.2bn between 2014 and 2017.
'By Jackie Cameron Johannesburg listed ICT group EOH has been rocked by allegations of bribery, corruption and theft, with its CEO Stephen van Coller saying on Tuesday that an internal probe has revealed that “about eight” people had been involved in a “suspicious transaction” totalling R1.2bn between 2014 and 2017. The once-great Tongaat Hulett is fighting for survival. The KwaZulu-Natal corporate giant wants an interest repayment holiday on R11bn worth of debt, and is cutting costs and restructuring. Anglo American Platinum is set to dazzle investors when it unveils its financial results on July 22. It is promising an increase in Headline Earnings Per Share of at least 108% to 128% for the six months to the end of June, compared to the same time last year. One of South Africa’s biggest shareholders of South African listed companies, the Government Employees Pension fund, wants to invest more of its R2trn under management outside the country . There are concerns that this strategy could send shockwaves through the JSE, Bloomberg news agency has warned. Paypal co-founder Peter Thiel has lashed out at Google for cosying up to the Chinese government, with US President Donald Trump moving quickly to support the billionaire silicon valley entrepreneur. He went as far as accusing Google of treasonous steps, a comment that impressed Trump. On the JSE, the big mover was paper company Sappi, which rose more than 4%. Mining companies South32 and Kumba Iron Ore were the big losers, shedding about 3%. By the end of the business day, one US dollar cost R13.94, while R17.30 would get you one British pound and it was R15.63 for one Euro.'

Opposition MP elected Algeria Parliament chairman

Construction defenceWeb

Algerian lawmakers elected an Islamist opposition figure chairman of parliament under pressure from mass protests demanding the departure of the ruling elite.Parliament elected Slimane Chenine of the Movement of National Construction party to
'Algerian lawmakers elected an Islamist opposition figure chairman of parliament under pressure from mass protests demanding the departure of the ruling elite.Parliament elected Slimane Chenine of the Movement of National Construction party to replace Moad Bouchareb from the National Liberation Front (FLN), which ruled Algeria since independence from France in 1962.Bouchareb resigned a week ago, three months after Abdelaziz Bouteflika quit as president, also pressurised by demonstrators seeking democratic reforms and government personnel changes.Chenine (47) is the youngest lawmaker to be elected as head of the National Assembly and his party has 15 of 462 seats in parliament, where the FLN and its coalition partners have an overwhelming majority. “We have a majority in the assembly but the party decided to contribute to the superior interest over the party’s interest,” FLN lawmakers said in a statement after a meeting with the party leader Mohamed Djemai. “Due to the current situation in our country, we prefer Algeria over our interests,” said FLN lawmaker Abdelhamid Si Afif.The National Liberation Front has 160 seats and monopolised the parliament presidency for a long time with the backing of other pro-government political parties. “We have decided to back Chenine to get out of the crisis and go to fair presidential elections as soon as possible,” said lawmaker Fouad Benmerabet from the Democratic National Rally (RND), the main partner of FLN.Protesters forced Bouteflika to resign on April 2 after two decades in power and the army is now the main player in Algeria’s politics.Army chief of staff Lieutenant General Ahmed Gaed Salah repeatedly vowed to meet protesters’ demands including helping the judiciary prosecute officials suspected of involvement in corruption.Several senior officials including former prime ministers Ahmed Ouyhia and Abdelmalek Sellal are in custody for “dissipation of public funds.” Protesters demand the resignation of interim president Abdelkader Bensalah and Prime Minister Noureddine Bedoui, regarded by demonstrators as part of the old guard.Government postponed a presidential election planned for July 4, citing a lack of candidates.No new date has been set.   . The post Opposition MP elected Algeria Parliament chairman appeared first on defenceWeb .'