Staff Reporter
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/ 4 December 2007

Surprising rebound in consumer confidence

Consumer confidence has surprisingly rebounded to close to its previous record, according to the First National Bank (FNB)/Stellenbosch University Bureau for Economic Research’s (BER) latest FNB/BER consumer confidence index, which was released on Tuesday. Consumer confidence increased by four index points.

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/ 4 December 2007

Radio Orania gets green light from Icasa

The predominantly Afrikaner settlement of Orania in the Northern Cape has been granted a community broadcast licence by the Independent Communications Authority of South Africa (Icasa). The licence is valid from December 1 this year to November 30 2011, after which the community can apply for an extension.

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/ 4 December 2007

Bank still optimistic on house prices

A soft landing for the residential property market is expected after strong double-digit growth between 2003 and 2006, Standard Bank said on Tuesday. The bank’s median house-price index moderated to 6,5% year-on-year in November following a relatively strong growth of 10,2% y/y recorded in October.

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/ 4 December 2007

Ethiopia: World is forgetting Somalia

Ethiopia has warned that the world’s disinterest in sending peacekeepers to Somalia was dampening hopes of achieving peace in the shattered African nation. Of the 8 000 peacekeepers the African Union pledged to send to bolster President Abdullahi Yusuf Ahmed’s weak government, only 1 500 Ugandan troops are actually on the ground.

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/ 4 December 2007

SA November vehicle sales slide

South Africa’s new vehicle sales dropped by 13,8% to 47 707 units in November compared with the same month last year, the National Association of Automobile Manufacturers (Naamsa) said on Tuesday. Naamsa said trading conditions remained under severe pressure mainly due to higher interest rates and record high household debt levels.

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/ 4 December 2007

Women to march for gender equality in ANC

A march by gender activists in protest at the African National Congress (ANC) Women’s League nominations of mostly men for the party’s top six positions would take place this week. Chief executive of the Gender and Media Southern Africa network Kubi Rama on Tuesday said the women would participate in the march on Wednesday.

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/ 4 December 2007

Price of crude falls on hopes of cuts by Opec

Oil prices fell again on Monday, adding to last week’s 10% slump, on continued speculation that the producers’ cartel Opec would agree to increase output when it meets on Wednesday in Abu Dhabi. United States light crude futures fell by more than a dollar a barrel in busy trading to about ,50 a barrel — almost a barrel lower than the peak of ,29 set two weeks.