South Africa promised on Monday to bounce back from a record 49-0 drubbing by the Wallabies and fight to win this week’s Tri-Nations clash. The Springboks were humiliated two weeks ago when they failed to score against Australia in Brisbane and now sit at the bottom of the table.
The JSE remained in positive territory just after midday on Monday, but was well off its highs mainly due to weakness in European markets. Platinum stocks led the JSE’s upside helped by a higher platinum price and positive results from AngloPlat. By 12.13pm, the all-share and all-share industrial indices added 0,25% and 0,26% respectively.
South Africa’s official opposition Democratic Alliance (DA) says it will try to establish exactly which Members of Parliament are — or were — indebted to Parliament for the improper use of air travel vouchers. Chief whip Douglas Gibson said it appeared that some thought the scandal should be swept under the carpet.
Despite an increase in interest rates on June 8, money-supply numbers for June, published by the Reserve Bank on Monday, showed little impact of a slowdown in demand and raised the spectre of a definite rate rise on Thursday. "June’s year-on-year M3 growth, at 23,07%, remains high," said research house RLJP.
Villagers flying white flags from cars, buses and pickup trucks flooded out of south Lebanon on Monday after United States Secretary of State Condoleezza Rice won from Israel a brief suspension of devastating air strikes. Rice said she believed a ceasefire to end the 20-day war between Israel and Hezbollah guerrillas could be forged this week, but some fighting went on.
Mortgage advances by the monetary sector increased by 29,8% year-on-year in June 2006, which is down from the 30% level it has hovered at since March to May, and potentially indicates the early stages of a downward trend in demand for housing, according to analysts.
Cape Judge President John Hlophe on Monday acceded to a defence proposal to postpone Parliament’s Travelgate trial. Hlophe postponed the case to October 17. Twenty-eight people — 23 current and former MPs and five travel agents — are in the dock for the alleged defrauding of Parliament of about R24-million.
Presidency official Titus Mafolo was free to join "any organisation" of his choice as a citizen, says South African Deputy President Phumzile Mlambo-Ngcuka. Responding to a question from Democratic Alliance MP OM Thetjeng on Monday who asked whether the "Native Club" was a presidential initiative or was government funded, she said the club was not an initiative of the president.
Police were on Monday still investigating an attack on 11 British schoolchildren who were robbed of R10Â 000 and ten cellphones in Honeydew early last week, West Rand Police said. The pupils are part of a group on a rugby and netball tour in South Africa.
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Former deputy president Jacob Zuma’s corruption trial began shortly after 10am in the Pietermaritzburg High Court on Monday with Judge Herbert Msimang at the helm. Zuma had smiled and nodded his head when asked how he was feeling as he entered court A.