EDITOR’S LUNCHBOX: Nasa saw asteroid that was too close to Earth for comfort only hours before it missed us
SAA head Vuyani Jarana has had to cancel a contract he awarded without following proper processes, and Steinhoff implosion shows how networking can go horribly wrong
Stories of note
Bytes from the digital world
South African Airways’ (SAA’s) new CEO, Vuyani Jarana, has had to cancel a contract he awarded without following proper processes, using "threats" as an excuse. To date, SAA has not disclosed the nature of these threats, what assessment was made before putting out the tender, or why the contract was suddenly cancelled.
An asteroid, travelling at about 105,000km/h, narrowly missed hitting Earth last weekend. Scientists say it was between 50m and 100m wide, and was about half the average distance between Earth and the moon away, which scientists say is a little too close for comfort. Also Nasa scientists noticed the asteroid only a few hours before it rushed by our planet.
In my opinion
Matters of debate
"Many of the foreigners we work with have spent years — sometimes a decade — jumping through every regulatory hoop the department can conceive of and are still no closer to attaining the permanent residency or citizenship for which they aspire," writes attorney Stefanie de Saude-Darbandi, calling for Home Affairs Minister Malusi Gigaba to be replaced with someone competent.
Operating under an unquestioned and unaccountable veil of secrecy, the country’s intelligence authorities have seemingly been able to spend huge amounts of money on highly questionable projects, writes Karyn Maughan.
The long and the short of the markets
Networks of friends are frequently very effective in allocating capital. But in the case of Steinhoff, this familiarity may have encouraged a tolerance for massively overpaying for acquisitions, or for regularly changing reporting periods.
Eskom has issued the Gupta-owned Optimum a R105m fine for failing to deliver coal, which has spurred a supply shortage at the power utility.
Graph of the day
The rand has gained 3.2% against the dollar so far in 2018, ranking it near the middle. The currency to gain the most has been Colombian peso, which has appreciated 9.5%, and the worst is the Argentinian peso, which is down 7.7%.