Ratings agency Fitch raised its outlook on South Africa’s ”BBB+” sovereign credit rating to positive from stable on Wednesday, citing the country’s rapid economic growth and improved prospects. ”The change in outlook reflects South Africa’s improved growth performance and prospects,” Veronica Kalema, a director in Fitch’s sovereign team, said in a statement.
Facebook addicts can now not only catch up with their long-lost friends, but also stay informed of the latest news from South Africa and the world, thanks to a South African news application launched by the Mail & Guardian Online. It gives users the ability to get updates on breaking news, sport and business.
The South African Communist Party (SACP) has turned down an invitation for a question-and-answer session with the murderers of their secretary general Chris Hani, saying on Wednesday the two should rather hand their information to law enforcement authorities. Last week Janusz Walus and Clive Derby-Lewis sent the invitation to the SACP via their lawyers from prison.
The South African Broadcasting Corporation (SABC) has not yet introduced all the recommendations arising from a probe into its commentator blacklist, the broadcaster said on Wednesday. Earlier, the Independent Communications Authority of South Africa postponed a hearing into the blacklist issue at the SABC’s request.
Grindrod, the listed shipping and logistics business, on Wednesday announced the sale of 18% of its subsidiary, Grindrod Bank, to three independent black economic empowerment (BEE) entities. Alan Olivier, Grindrod Limited CEO, said the vision of Grindrod Bank is to become a meaningfully empowered bank.
After reaching its highest level since August 2003 of 6% year-on-year, core inflation in South Africa dropped to 5,7% in June, but analysts said on Wednesday this does not change underlying concerns, and interest rates are still likely to rise. Core inflation excludes volatile changes in food prices, municipal rates and monetary policy.
Clean up your act. This was the message 1 600 people received on Wednesday at a pep rally addressed by Liu Qi, head of the organising committee for the Beijing Olympics. The long-awaited Olympics open in just over a year — August 8 2008 — and Liu’s speech signals the games are fast approaching.
The case in which Robert McBride is suing the Citizen newspaper for R3,6-million for defamation resumed in Johannesburg on Wednesday. Testifying in court, acting editor of the Citizen Martin Williams said the published articles stating that McBride was not suitable for the position of chief of metro police in Ekurhuleni were because of his criminal record.
A Kenyan court ruled on Wednesday that Thomas Cholmondeley, descendant of one of the country’s most famous white settlers, should present his defence in a murder case that has stoked longstanding racial tensions. The great grandson of Lord Delamere has admitted shooting Kenyan stonemason Robert Njoya, whom he accused of poaching on his Soysambu farm.
The Foreign Affairs Department on Wednesday condemned the criminal attack in Johannesburg on South Africa’s ambassador to the United Nations in New York. Spokesperson Ronnie Mamoepa said the criminal attack over the weekend on Dumisani Kumalo and his family should be condemned in the strongest possible terms.