Staff Reporter
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/ 15 May 2008

SA loses ground in global ratings

South Africa has drifted closer to the bottom of a global-competitiveness index for 55 countries this year, hit by skills shortages, unemployment and weak infrastructure, where it ranked last, Business Day reported on Thursday. South Africa’s rating slipped to 53 from 50 last year — beating just Ukraine and Venezuela.

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/ 15 May 2008

Zim introduces Z$500m note as prices rocket

Zimbabwe’s central bank introduced Z-million notes worth just on Thursday in the latest sign of spiralling hyperinflation, only a week after issuing the Z-million bill. The new highest denomination note would buy about two loaves of bread. Zimbabwe has the highest inflation rate in the world at about 165 000%.

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/ 15 May 2008

Lotz trial: Cops sued for R46m

Fred van der Vyver is suing the government for R46-million after its failed bid to pin on him the murder of his girlfriend, Inge Lotz, the Times reported on Thursday. Van der Vyver, a Cape Town actuary, was acquitted in November last year. The judge dismissed the evidence against him as flimsy and criticised the police.

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/ 15 May 2008

Investec profits rise 15%

South African investment banking and asset management group Investec reported a 15% rise in full-year core profit on Thursday, but missed expectations because of United States writedowns. Pre-tax operating profit rose to £537,7-million for the year to March 31, meaning growth was 3% lower than expected according to a Reuters poll.

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/ 15 May 2008

Thanda Royal Zulu ease relegation woes

Vusi Ngcobo’s hat-trick helped Thanda Royal Zulu ease their relegation problems when they registered a hard-fought 3-2 win over Bidvest Wits in a thrilling Absa Premiership match at Absa Stadium, Durban, on Wednesday. The match started at a blistering pace with Royal Zulu pushing forward in numbers in search of the opener.