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/ 28 February 2006

Independents pray for ANC’s demise

Feeling abandoned by the party they helped bring into power and angered by conditions in townships, the Northern Cape’s Independent Party is ”praying” for the African National Congress to lose Wednesday’s local government election. ”I pray that the ANC will lose,” one of the party’s two candidates said on Monday.

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/ 28 February 2006

More blackouts plague Western Cape

There will again be rolling blackouts in the Western Cape on Tuesday, Eskom announced in a news release. This was necessitated by multiple line faults that occurred at 2.13am that interrupted power to the province. Metrorail appealed to commuters to find alternative forms of transport as power outages disrupted train services.

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/ 28 February 2006

Tax man eyes R183m from Kebble estate

The South African Revenue Service has submitted a claim of R183-million against the estate of slain tycoon Brett Kebble, media reports said on Tuesday. Kebble, who was gunned down in Johannesburg in September last year, left his entire estate — estimated by his executors to be worth about R40-million — to his wife.

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/ 28 February 2006

Major BEE coal-mining company announced

African Rainbow Minerals and Xstrata announced on Tuesday that agreement has been reached to establish a major black-controlled coal-mining company in a black economic empowerment (BEE) transaction valued at R2,4-billion. The new company, ARM Coal, will have significant operating assets and growth projects in South Africa.

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/ 28 February 2006

FirstRand boosts earnings by 19%

Banking group FirstRand boosted diluted headline earnings per share by 19% from 62,9 cents to 74,8 cents for the six months ended December. The group declared a dividend of 32 cents per share, which was a 20% increase on the previous dividend. It said the strong results were achieved in a positive economic environment.

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/ 28 February 2006

Fly on, Black Butterfly

South Africa’s sassy young R&B enigma Tsakani "TK" Mhinga was found dead in a hotel room in Bryanston, north of Johannesburg on Monday. The grim discovery was made by a staff member of the City Lodge in Bryanston. There was "no evidence of a struggle", said Captain Schalk Bornman of the South African Police Service.

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/ 28 February 2006

No to free trade with US

Trade experts say the United States is demanding far deeper market access than South Africa is willing to give, particularly in the area of services that are covered by regulatory protection rather than tariffs. South African business appears to be waking up late to the fact that the country may be walking away from a free trade deal with the US.