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/ 16 October 2006
A powerful earthquake and repeated aftershocks shook Hawaii on Sunday, rattling nerves, knocking out power in Honolulu and prompting Governor Linda Lingle to issue a disaster declaration for the entire state. The earthquake was not strong enough to trigger a tsunami warning, according to Victor Sardina, a geophysicist at the Pacific Tsunami Warning Centre.
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/ 16 October 2006
Workers on three wine farms in the Western Cape will take ownership of one of the farms, said the owners on Sunday. ”An innovative empowerment deal will transform employees on the three Franschhoek-based Solms properties into land owners after generations of tilling vineyards on which they had no claim,” said Paula Wilson, the spokesperson for the farms.
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/ 16 October 2006
While tourists frolic in the crystal-clear waters lapping the tropical island of Boracay, local natives forced from their land by developers are fighting for their piece of paradise lost. With its warm blue waters, powder-fine white sand and palm-fringed beach, Boracay, in the central Philippines, is widely regarded as having one of the most beautiful beaches in the world.
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/ 16 October 2006
Maureen and Tony Wheeler have backpacked around the world several times over but for them there is no such thing as a holiday. That’s not surprising when their business is travel; specifically, travel on the cheap. As the names behind the hugely successful <i>Lonely Planet</i> travel guides, the Wheelers — now in their 50s — are as peripatetic as ever, spending six months of the year away from home on their lifelong working holiday.
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/ 16 October 2006
South Africa is one of the few countries in the world where mortgage bonds are linked to short-term interest rates. As a result South African homeowners experience high volatility when it comes to mortgage repayments. Considering that mortgage payments are the biggest expense for homeowners, it would make sense to find a mechanism that can decrease the volatility of bond repayments, something Reserve Bank Governor Tito Mboweni alluded to recently.
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/ 16 October 2006
There has been bad news with the release of the latest economic statistics, which show inflation rising rapidly, a trade deficit double internationally accepted norms and indications that the economy is slowing with lower growth in car sales and house prices. When trying to make sense of all this, perhaps the best number to look at is the JSE All-Share Index, which reflects the market reaction to economic data.
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/ 16 October 2006
Not many post-independence countries had a worse start than Botswana. At independence in 1966, the country had 22 university graduates, about 100 matriculants and only 12km of paved road. However, it has had record economic growth rates, higher than any other country in the world over the past three decades.
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/ 16 October 2006
These days Paul Mashatile is more famous for swiping his credit card than attracting investment. But Mashatile, now the Gauteng minister for finance and economic affairs, will weather the storm. He is a survivor. As an activist in Alexandra in the 1980s, he was president of the Alexandra Youth Congress, and office-holder for the United Democratic Front.
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/ 16 October 2006
A significant number of conflict diamonds are being smuggled out of rebel-held territories of Côte d’Ivoire to neighbouring Ghana, where they are being certified as conflict-free and sold through legitimate channels, the NGO, Global Witness, said this week. The findings were made by the United Nation Group of Experts on Côte d’Ivoire, whose latest report was released this week.
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/ 16 October 2006
The JSE broke through the 23 000 level for the first time on Monday morning, propelled by firmer world markets and higher commodity prices. The overriding positive sentiment saw the bourse posting gains across the board. By 11.50am, the all-share index was up 0,73% at 23 006,57, having touched a highest-ever 23 015,93.