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/ 26 February 2008

KZN lauded for political tolerance

KwaZulu-Natal has been able to show the world that when power is contested, people do not have to die, Dr Brigalia Bam, chairperson of the Independent Electoral Commission, said on Tuesday. She was speaking at the KwaZulu-Natal legislature in Pietermaritzburg on preparations for the 2009 election.

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/ 26 February 2008

IMF: New subprime losses main risk to world growth

World economic growth could miss the International Monetary Fund’s (IMF) forecast of 4,1% this year if United States and European banks disclose more major losses on the subprime market, the head of the IMF said on Monday. Dominique Strauss-Kahn warned that emerging economies would not escape the effects of the slowdown in rich countries.

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/ 26 February 2008

Tourism figures growing, says Van Schalkwyk

The number of foreign visitors to South Africa grew by just under 9% last year, Minister of Environmental Affairs and Tourism Marthinus van Schalkwyk said on Tuesday. ”I am pleased to announce that the overall foreign arrivals increased by 8,6% from January to November 2007,” he told a business tourism conference in Sandton.

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/ 26 February 2008

JSE sharply higher on world markets

South African stocks were sharply higher at midday on Tuesday following in the footsteps of European markets, but a stronger rand restricted gains. Above-forecast economic growth data added to the positive sentiment. At 11.59am, the all-share index was up 1,22% at 30 176,680, thanks to a 3,08% gain in banks.

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/ 26 February 2008

Horse-racing bet makes Briton birthday millionaire

A British man celebrated his 60th birthday in unexpected style at the weekend when a 50 pence () bet on the horses turned him into an instant millionaire. Fred Craggs, from Yorkshire in northern England, was not even aware of his win when he walked into a branch of the William Hill betting agency to see how he had done with his accumulator bet.

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/ 26 February 2008

Nigerian prisons a ‘national scandal’

Nigeria’s prisons are a ”national scandal”, filled with thousands of inmates who have never been convicted of any crime while some prisoners wait decades to face trial, Amnesty International said on Tuesday. The human rights group said only about 35% of Nigerian inmates have been convicted in court.

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/ 26 February 2008

Discovery says unit to quit US retail insurance

South African health insurance firm Discovery said on Tuesday its loss-making United States unit Destiny Health would quit the US retail insurance market. Discovery said Destiny would continue to market its Vitality product to employer groups and health plans, but would transfer its insured block of business to a health insurance carrier.