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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

Gutsy Younis saves Pakistan with century

Stand-in captain Younis Khan staved off a spin threat with a responsible century to help Pakistan draw the second Test against India on Tuesday. Younis scored an unbeaten 107 under pressure as Pakistan recovered from 78-4 to finish at 214-4 in their second innings chasing a stiff 345-run target off 81 overs on the fifth and final day.

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/ 4 December 2007

NUM strike takes off, cuts output

The National Union of Mineworkers (NUM) launched a one-day strike on Tuesday to protest against deaths in the country’s mines, disrupting operations across the world’s top producer of platinum and gold. Almost a quarter of a million union members were set to down tools in the first industry-wide strike on safety, as the death toll mounted to about 200.

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/ 4 December 2007

Opec’s big guns keep options open on oil increase

The biggest Persian Gulf producers of the Organisation of the Petroleum Exporting Countries (Opec) are leaving open the option of an oil-supply increase that could influence whether crude prices head back towards a barrel. Oil ministers, gathering to meet on Wednesday, have adopted a coordinated line to insist that supplies are sufficient to meet winter demand.