Food price inflation is likely to remain above the South African Reserve Bank’s (SARB) inflation target band of 3% to 6% CPIX (headline consumer inflation less mortgage rate changes) for the foreseeable future, thus maintaining pressure on local interest rates and consumers’ budgets.
The latest inflation figures are higher than expected and breach the Reserve Bank’s target range of 3% to 6% for the second consecutive month. The main culprits of this inflationary pressure are oil and food prices, both of which are influenced directly by the rand- dollar exchange rate, writes Rejane Woodroffe.
Global warming could trigger hurricanes over the Mediterranean sea, threatening one of the world’s most densely populated coastal regions, according to European scientists. A new study shows a rise of three degrees Celsius in average temperatures could set the storms off in the enclosed Mediterranean in future.
Sachin Tendulkar says it is a passion for cricket rather than a desire to keep adding to his already impressive list of records that provides the reason for him to extend his career. Tendulkar has had his motivation called into question recently after a poor World Cup in the Caribbean where India exited at the first-round stage.
McLaren-Mercedes have three very good reasons to seek victory at the European Formula One Grand Prix on Sunday. The Anglo-German team needs to rebound from losing the last two races to Kimi Raikkonen of rival Ferrari, it is the home race for Mercedes and they want to prove that an ongoing sabotage saga has not done them harm.
The former Ferrari employee at the centre of the Formula One espionage saga says he is ready to name names in a bid to prove his innocence. Nigel Stepney has been the subject of an investigation by Italian police after being accused of supplying McLaren chief designer Mike Coughlan with secret technical information on the Italian team.
Zimbabwean Vice-President Joseph Msika has warned that businesses in the country will suffer if they fail to stock their shelves with goods, reports said on Wednesday. Msika, who was speaking in the east of the country, said President Robert Mugabe’s government was at war with retailers and manufacturers.
The JSE remained lower at noon Wednesday in tandem with overseas markets but miners managed modest gains amid better precious metal prices and concerns over wage talks. At noon the all-share index off 0,70%. Resources fell 0,99%, but the gold and platinum mining indices edged up 0,31% and 0,26% respectively.
Mexico’s Tigres UANL easily handled the Los Angeles Galaxy 3-0 in the opening match on Tuesday of the four-team tournament billed as the ”World Series of Football”. England’s Chelsea beat South Korea’s Suwon Bluewings 1-0 in the late match.
Australian coach John Connolly on Wednesday defended rushing fullback Chris Latham back from injury for Saturday’s crunch Tri-Nations and Bledisloe Cup decider against New Zealand. Wallaby legend Tim Horan has slammed the decision to put Latham on the bench, saying he is not ready to return to Test rugby.