The South African Cabinet has condemned recent incidents of racism and sexism around the country, saying they have the potential to undermine South Africa’s Constitution, a government spokesperson said on Thursday. ”The transgressors must know that there will be legal consequences,” government communications head Themba Maseko said.
Oil prices surged past $105 for the first time on Thursday as traders reacted to a surprisingly sharp fall in United States crude reserves and the plunging US dollar, analysts said. New York’s main oil contract, light sweet crude for delivery in April, hit $105,10 per barrel, topping the previous record of $104,95 set on Wednesday.
In February 2008 year-on-year growth in house prices in the middle segment of the market slowed further to a nominal 8,7% from a revised 9,9% in January, Absa said on Thursday. ”House-price growth has not been so low since the end of 1999, when it was 9,3%,” it said.
Egyptian police detained three leading members of the opposition Muslim Brotherhood on Thursday as part of a crackdown that the Islamists say is meant to disrupt their plans for local elections in April. Mahmoud Ghuzlan, a member of the Brotherhood’s guidance office, was taken from his Cairo home at 2am local time.
South Africa’s new basket of producer price inflation stood at 10,4% year-on-year in January, official data showed on Thursday. Statistics South Africa said the headline number represented domestic output which measured 9,5% in December. On a monthly basis, PPI increased by 1%.
Europe’s European Aeronautic Defence and Space Company (EADS) won its share of a huge contract to build aerial tankers for the United States thanks in part to improved French-American ties, French President Nicolas Sarkozy was quoted on Thursday as saying.
Four Sudanese civilians died when a grenade went off as they tried to retrieve a body believed to be of a French soldier killed after he strayed into Sudan from Chad, the army said on Thursday. A spokesperson said a group of Sudanese nomads found the body on Wednesday near the border with Chad.
Finance Minister Trevor Manuel has won his high court bid to stop an activist claiming he is guilty of corruption over the arms deal. The ruling was handed down on Thursday morning. The court ordered that Terry Crawford-Browne be interdicted and restrained from ”publishing any matter in which it is alleged that the applicant is corrupt”.
South African financial-services firm Sanlam said on Thursday its full-year normalised headline earnings fell 22% due to a slowdown in equity markets in 2007 and compared with high returns in 2006. It also warned of a tough year ahead as interest rates, higher inflation, a power-supply crunch at home and volatility in international financial markets take their toll.
British humanitarian agencies on Thursday said the situation in the Gaza Strip was the worst in 40 years and urged the European Union to hold talks with Hamas. ”The situation for 1,5-million Palestinians in the Gaza Strip is worse now than at any time since the beginning of the Israeli military occupation in 1967,” the eight NGOs said in a joint report.