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/ 12 November 2007
China’s muzzled press and burgeoning internet have given citizen reporters an audience and an opportunity to spread news quicker than censors can control it. But the ability of bloggers to dodge censors and provide a voice for China’s poor and disadvantaged by covering news events Beijing would rather be left unreported.
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/ 12 November 2007
President Thabo Mbeki has denied that the government is behind the Koni Media Holdings’ bid to buy media giant Johncom. He described as ”irrational” the media storm around the bid by Koni — which is partly owned by Foreign Affairs spokesperson Ronnie Mamoepa, presidential political adviser Titus Mafolo and former chief of protocol Billy Modise.
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/ 12 November 2007
Three people have been arrested after a seven-year KwaZulu-Natal boy was beheaded for R20Â 000 in what is believed to be a muti transaction, KwaDabeka police said on Monday. Police spokesperson Captain Bongani Khomo said the incident has left police officers and the Clermont community in shock.
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/ 12 November 2007
South Africa’s biggest mass-market lender, Abil, increased headline earnings per share for the year to end-September by 20%, and said on Monday it was confident of reaching its financial goals in the current financial year. African Bank Investments Limited said headline EPS was 268,4 cents while headline earnings rose 20% to R1,334-billion.
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/ 12 November 2007
A Sri Lankan newspaper chose a graphic way to illustrate how a media rights dispute between Cricket Australia and the international news agencies is hurting its coverage of the series. Next to the report, in a space where a match photo would usually go, was a black figure in the shape of a batsman playing a stroke.
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/ 12 November 2007
South African furniture retailer Lewis said on Monday first-half revenue rose 11,2% to R1,718-billion, with merchandise sales 7,5% higher. Lewis said headline earnings per share for the period to end-September rose 11% to 308,5 cents. Lewis said operational and merchandise strategies would continue to produce satisfactory results.
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/ 12 November 2007
There are new signs of life in the domestic nuclear industry as United States-based Westinghouse announced an acquisition, saying it was increasing its local presence to supply South Africa’s new nuclear power programme. Government has said that it wants nuclear power to supply 30% of the country’s energy needs by 2025.
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/ 12 November 2007
Gold has reached its highest level in 28 years, breaking the psychological level of $800 an ounce. But despite this, the share prices of gold companies have not benefited, with the gold mining index down more than 17% in the past year. Harmony in particular has been under pressure, falling 40% this year. The reality is that mining gold in South Africa is very expensive; most of it is deep-level mining, with increased costs and risks.
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/ 12 November 2007
The price of oil set yet another record this week as low stocks of fuel and further falls in the dollar spurred a frenzied round in the buying of crude. United States light crude futures rose by more than $3 a barrel to break through $97 a barrel to a peak of $97,07, nearly a dollar above the previous high last week.
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/ 12 November 2007
As a leading commodity producer and exporter, South Africa’s current account deficit appears uncharacteristic given the backdrop of strong commodity price performance. This is due mostly to a combination of rising imports and poor exports during this commodity cycle. There are various factors, but regulatory risk remains the greatest concern.