The ending of Japan’s zero interest rates marks the end of an extraordinary policy prompted by a situation not seen in any other major economy in post-war times — deflation. Japan entered its deflationary spiral in the wake of the bursting of the asset bubble in the early 1990s.
The South African government has assured the country’s Muslim leadership that there was no security policy specifically directed at the Muslim community. The government said on July 13 a ministerial delegation headed by the Minister in the Presidency Essop Pahad had met with a delegation of 60 representatives of the South African Muslim community at the Union Buildings in Pretoria.
South Africa’s inflation outlook has become "complicated" as South Africa is dependant on imported oil and this will place pressure for further rate hikes, say Moody’s researchers Dr Ruth Stroppiana and Paul Guest. According to Absa’s chief economist, the country could be in for another 200 basis-point rate rise.
The JSE was weaker in noon trade on Friday as concerns about the record high oil price and its inflationary effects continued to dampen global market sentiment. The bourse was well off its lows, however, helped by a higher gold price and an element of bargain hunting.
Juventus, Fiorentina and Lazio will be relegated to the Italian second division, according to a report in the Gazetta dello Sport newspaper on Friday. Italy’s premier sports newspaper claimed it was revealing the long-anticipated ruling in Italy’s match-fixing scandal, due to be given on Friday evening.
An international relief worker was killed on Wednesday in northern Darfur, the United Nations said. The aid worker was shot dead by unknown assailants who attacked a car carrying three international relief workers near al Sireaf, 60km north of Saraf Omra, according to a UN situation report issued on Thursday.
Hailed as a hero only a month ago, John Connolly now confronts the downside of coaching Australia. Connolly takes the Wallabies into Saturday’s Tri Nations rugby Test at Suncorp Stadium with many questioning his game plan, tactics and selections. The long-serving Queensland coach was seen to have turned around Australia’s fortunes last month.
Zimbabwe has missed its target to raise wheat output to a record 500 000 tons after farmers reduced plantings, raising fears of bread shortages, the official Herald newspaper reported on Friday. Farmers planted about 58 000ha of wheat, considerably lower than the 110 000ha targeted by the government in a bid to boost food security, the newspaper said.
Manchester United striker Ruud van Nistelrooy has verbally agreed to join Real Madrid on a three-year deal, according to a Dutch press report on Friday. The country’s biggest newspaper De Telegraaf said: ”Ruud van Nistelrooy (30) has come to a verbal agreement with Real Madrid.
Somalia’s nearly powerless interim government said on Friday it wants to postpone this weekend’s peace talks with an Islamic militia that has seized control of nearly all of southern Somalia, saying the group has become increasingly radical. The talks were expected to be a move toward international acceptance for the militia.