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/ 22 October 2007

Somali pirates seize cargo ship

Somali pirates have seized a cargo ship off the East African coast, the head of a local seafarers’ association said on Monday. Gunmen attacked the vessel last Wednesday, said Andrew Mwangura, the programme coordinator of the East Africa Seafarers’ Assistance Programme, but due to chaotic communications with Somalia the incident had taken several days to confirm.

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/ 22 October 2007

ANC slams behaviour at Mashabane funeral

The conduct of certain people attending the funeral of former South African ambassador to Indonesia Norman Mashabane was ”despicable”, said the African National Congress (ANC) on Monday. The funeral took place in Phalaborwa on Saturday. ”We deplore the behaviour of these unruly elements. There is no room for such people in the ANC,” the party said.

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/ 22 October 2007

JSE stays sharply lower on world markets

The JSE retained its weak tone at noon on Monday, in line with overseas markets amid renewed concerns about the health of the United States economy. At 11.56am, the all-share index was off 1,51%. Resources fell 2,48%, while the gold-mining and platinum-mining indices gave up 1% and 3,47% respectively.

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/ 22 October 2007

DA wants further cuts in corporate tax

A call for further cuts in corporate taxes was among a number of proposals made by the Democratic Alliance (DA) on Monday — aimed, it said, at growing the economy and encouraging foreign direct investment. Pierre Rabie, who speaks for the party on trade and industry, quoted the World Bank survey <i>Doing Business 2008</i>.

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/ 22 October 2007

China factory inferno kills 37

A fire erupted at a shoe factory in south-east China, killing 37 people in the latest industrial accident to hit the world’s fourth-largest economy, officials and state media said on Monday. The blaze at the Feida workshop, located near the city of Putian in coastal Fujian province, broke out at 9.50pm local time on Sunday and was extinguished an hour later.