Hundreds of Serbs in north Kosovo clashed with United Nations police and Nato peacekeepers on Monday in the worst violence since the Albanian majority declared independence last month. Riots erupted in the town of Mitrovica after several hundred UN special police backed by French Nato peacekeepers stormed a UN court in the town and arrested dozens of Serbs.
Global stocks fell and the dollar tumbled on Monday as a fire sale of Bear Stearns and an emergency Federal Reserve cut of a key lending rate sparked fears that a worldwide credit crisis will claim more casualties. European shares sank more than 3%, following a sell-off in Asia where Japan’s leading indexes shed more than 3,5%.
Media24, publisher of City Press, was on Monday ordered to pay prominent African National Congress politician and medical doctor Zweli Mkhize R150 000 in damages for a defaming him in a report in March 2007. Mkhize is chairperson of finance and economic development in the KwaZulu-Natal Cabinet.
A former finance minister challenging Robert Mugabe for the presidency denied on Sunday he was a Western puppet and said such accusations were to divert attention from Zimbabwe’s economic meltdown. Simba Makoni is running as an independent candidate after being expelled from the ruling Zanu-PF party.
South Africa’s large current-account deficit is a major chink in its armour given a low savings rate and current global financial market turmoil, Finance Minister Trevor Manuel said on Monday. The country was dependent on foreign capital inflows to fund a rising deficit, he said.
Eskom will carry out countrywide rolling load-shedding on Monday because of a rise in demand due to cold weather and after four generators tripped. The power failures, the first since February 4, are likely to continue until Thursday, but would not affect large industrial customers, who are operating with about 90% of their normal power requirements.
The parents of murdered Stellenbosch student Inge Lotz are suing her ex-boyfriend Fred van der Vyver for R4-million each, said Dani Cohen, spokesperson for the Lotz family on Monday. Van der Vyver was acquitted of the murder of Lotz. Juanita and Jan Lotz called Inge ”their sunshine child and an angel. She was the apple of their eye” said Cohen.
An emergency move by the United States Federal Reserve to cut its discount rate has continued to weigh on markets, sending the JSE below the 30 000-level by midday on Monday. The Fed’s move to cut its discount rate, its lending rate to financial institutions, to 3,25% from 3,5%,
United States Vice-President Dick Cheney, an architect of the US-led invasion of Iraq, made an unannounced visit to Baghdad on Monday to assess the success of a troop build-up five years after the war began. Cheney arrived as Republican candidate John McCain, who will be the Republican choice in November’s presidential election, was meeting Iraqi leaders.
World leaders had to accept some blame for the violence that rocked Kenya after a disputed December election, killing more than 1 000 people, the international Human Rights Watch group said on Monday. It accused police of causing ”hundreds” of deaths by using excessive force during the two-month crisis.