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/ 24 December 2007

No tills ringing in Zimbabwe

For many in inflation-riddled Zimbabwe this year, Christmas isn’t quite what it used to be. In a glitzy department store on Harare’s main First Street, there are no customers at the almost bare perfume counters. Upstairs in the toy department, Santa has disappeared from his grotto. Outside, about 500 weary customers queue for cash at a bank.

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/ 24 December 2007

Gold miners add to Christmas cheer

The gold mining index added some cheer to the JSE ahead of Christmas celebrations, helping the bourse to close 0,59% firmer on Monday. The JSE closed at midday ahead of the two-day Christmas holiday and will reopen on Thursday. The gold mining index ended 2,95% higher, while resources added 0,81% and the platinum mining index recovered 0,62%.

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/ 24 December 2007

Opposition tipped to win Kenya election

Two heavyweights of Kenya’s post-independence politics square off in a presidential vote on Thursday whose run-up has seen the opposition hold a small lead in opinion polls over President Mwai Kibaki. But the closeness of the vote has raised fears fraud and intimidation may be used to try to swing the result.

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/ 24 December 2007

Pienaar’s ‘moment of madness’

Cristiano Ronaldo scored an 88th-minute penalty to give Manchester United a 2-1 victory over Everton at Old Trafford on Sunday. A lazy trip by Steven Pienaar on Ryan Giggs allowed Ronaldo to score his second of the day from the spot and extend United’s home league winning streak to nine games.

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/ 24 December 2007

Zuma to look into inflation targeting

Jacob Zuma, the new leader of the African National Congress said on Sunday that he would look at inflation targeting, a key monetary policy tool used by the Reserve Bank to reign in inflation. The country adopted the policy in 2000 as a framework through which the central bank estimates a ”target” inflation rate.

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/ 24 December 2007

Mbeki says ANC is not at war with itself

The conduct of some African National Congress delegates at its conference in Polokwane last week showed they did not understand what the party stood for, President Thabo Mbeki has told the South African Broadcasting Corporation. He was disappointed at how little some people understood of the ANC’s political workings and policy implementation.