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/ 29 November 2007
Tourism officials said this week it is ”business as usual” after severe floods hit the South Africa’s southern coast. ”Although the damage to property has been significant, the fact that the floods took place before the official start of the holiday season could prevent huge economic losses for the tourism sector,” said a tourism spokesperson.
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/ 29 November 2007
After being sharply firmer earlier in Thursday, weaker local producer price index (PPI) data forced the JSE to pull back at midday, even though world markets were firm. The JSE had been up as much as 533 points during the day, but by midday, it was only 337 points in the black.
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/ 29 November 2007
Pakistan’s Pervez Musharraf was sworn in as president for a second term on Thursday, but this time as a civilian and without his army uniform to protect him from pressure to end emergency rule. Musharraf took the oath for another five years in office from the newly installed chief justice Abdul Hameed Dogar.
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/ 29 November 2007
Oil prices rebounded by over a barrel on Thursday, after an explosion and fire at an oil terminal in Minnesota shut down most of the main pipeline that delivers Canadian crude to United States Midwest refineries. US crude rose by ,11 to ,73 a barrel by 4.35am GMT, recouping some of the previous session’s loss of ,80, or 4%.
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/ 29 November 2007
Zimbabwe President Robert Mugabe, caught in a standoff with Britain which has cast a shadow over an European Union-Africa summit, said on Wednesday he had no objection to dialogue between the two countries. British Prime Minister Gordon Brown has said he will boycott the December 8 to 9 Lisbon summit because Mugabe will attend.
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/ 29 November 2007
England hooker Mark Regan was on Wednesday confirmed as captain of the Barbarians team to play South Africa on Saturday despite being warned by his club not to play. Bristol had given Regan the week off as they are involved in a dead rubber EDF Energy Cup match but say they want him to rest ahead of the Heineken Cup fixture.
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/ 29 November 2007
Overtaken as the largest funder of global HIV/Aids programmes, the World Bank is now focusing on easing the economic damage inflicted by the syndrome in Africa and finding ways of controlling its spread through better prevention, care and treatment. Global funding for HIV/Aids reached -billion in 2007 compared to ,6-billion available in 2001.
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/ 29 November 2007
Growth in demand for credit from South Africa’s private sector eased marginally to 22,27% year-on-year in October, but remained high, keeping up pressure on the central bank to raise interest rates again. Central bank data showed on Thursday credit growth slowed from 22,46% in September, while annualised M3 money supply was down at 23,39% from 24,94%.
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/ 29 November 2007
African gold producer Randgold Resources priced its offering of six million shares at ,25 per share on Thursday, resulting in gross proceeds of ,5-million. The offering price represents a 3,2% discount to the closing price of Randgold’s United States listed shares on Wednesday of ,42.
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/ 29 November 2007
President Hugo Chávez is encountering unexpectedly strong opposition to a referendum on constitutional reform which would cement his rule in Venezuela, with violent clashes between rival demonstrations and security forces feeding a mood that the country is at a turning point.