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/ 14 November 2006

So much for saving for a rainy day

Banking fees are a disincentive to save, according to Gabriel Davel (below) of the National Credit Regulator. In his submission during the public hearings held by the Banking Commission recently, he demonstrated that it actually costs people to save money in a bank account and that it could actually be cheaper for people to access credit rather than to save.

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/ 14 November 2006

‘The problem is never the faith; it is the faithful’

The key reasons for the growing divide between Muslim and Western societies are not religious but political, concludes a report presented to United Nations Secretary General Kofi Annan on Monday in Istanbul, Turkey. "We need to get away from stereotypes, generalisations and preconceptions, and take care not to let crimes committed by individuals or small groups dictate our image of an entire people."

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/ 14 November 2006

Defending the laywoman

On a balmy Saturday afternoon in the suburbs, I am strangling a much older woman with a diamond ring in her nose. When I loosen my grip she shows me her arms. “I’ll have to sue my daughter for bruises from you,” she says. “You’re a violent woman.” My sparring partner blames her daughter for sending her to a self-defence workshop facilitated by 7th Dan Black Belt Karate Sensei Sanette Smit, aka Smitti.

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/ 14 November 2006

Chain-gang economics

”The world is investing too little,” according to one prominent economist. ”The current situation has its roots in a series of crises over the past decade that were caused by excessive investment, such as the Japanese asset bubble, the crises in emerging Asia and Latin America and, most recently, the IT bubble. Investment has fallen off sharply since, with only very cautious recovery.”

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/ 13 November 2006

Heated debate rages over judge’s Shaik denial

Judge Hilary Squires’s denial that he had referred to a ”generally corrupt relationship” between former deputy president Jacob Zuma and Schabir Shaik has no legal implications, said the National Prosecuting Authority on Monday. The denial has led to fierce comment from political parties and the Congress of South African Trade Unions.

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/ 13 November 2006

Chad declares state of emergency

Chad’s government declared a state of emergency on Monday in the capital, Ndjamena, and some eastern areas, where raiders on horseback have killed hundreds of villagers in ethnic attacks in recent weeks. The measure included the appointment of special ministers with far-reaching powers for the affected regions.