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/ 9 June 2006

JSE bleeds as rates increase

The JSE on Thursday suffered its worst loss since April 17 2000 — the bursting of the internet bubble — when a surprise rate hike locally saw the stuffing knocked out of a market that was already sagging under the weight of weaker world markets and lower commodity prices.

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/ 9 June 2006

Rand firms as market absorbs rate hike

The South African rand was firmer against the dollar in early trade on Friday as the market digested Thursday afternoon’s surprise 50-basis-point rate hike to 7,5% by the South African Reserve Bank monetary policy committee (MPC). The rand’s move came despite weakness in the euro and gold.

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/ 9 June 2006

Floods displace 66 000 in India

Floods caused by summer monsoon rains displaced about 66 000 people in India’s north-east, while heavy rains disrupted traffic in eastern India, officials said on Friday. In north-eastern Assam state, floodwaters from the Brahmaputra river had inundated about 13 000ha of land, the state government said.

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/ 9 June 2006

Kuboes doesn’t feel that Cell C has it covered

Cell C says, "We’ve got you covered." True, says an irritated Richtersveld community — but only if you’re standing on tiptoe. The tiny Richtersveld community of Kuboes complains bitterly that while a Cell C advertisement uses footage of their town to vaunt its extensive geographical coverage, their community has to make do with poor reception from the cellphone operator.

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/ 9 June 2006

SACP moves to go it alone

The South African Communist Party (SACP) has established a formal commission to review the proposal that it should contest elections — a move that could be the first formal step toward the restructuring of the "tripartite alliance". The establishment of the body is a clear signal that a split between the SACP, the Congress of South African Trade Unions (Cosatu) and the African National Congress may finally be taking shape.

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/ 9 June 2006

Arrests point to political violence

The arrest of two men in connection with the murder of South African Communist Party member Mazwi Zulu in Durban’s troubled Umlazi township tends to contradict African National Congress claims that the violence is criminal rather than political. Nkosiyabo Ngubane and Sphiwe Nene were arrested at the home of Bhekisasa Xulu, the ANC councillor for Ward 80.

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/ 9 June 2006

The victim always rings thrice

When you’re a small-time lawman run over by the streetcar of life, lying face down on the rain-soaked pavement of opportunity, you recognise some hard truths as they go floating by in the gutter of hope. I’d learned plenty. They were etched on my beaten heart in fine little letters of pain. Guns don’t work underwater.

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/ 9 June 2006

VoIP wars are here

The Internet is starting to deliver its real potential in South Africa with monopolist Telkom now facing competition as a major domestic company, MWeb, offers cheaper phone calls using computer technology. MWeb’s Broadband Talk offers national phone calls from computer to landline at just 50c a minute compared to Telkom’s 99c.

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/ 9 June 2006

Sports-mad SA deficient in betting stakes

The World Cup 2006 will be the biggest betting event in history, surpassing even the United States’s Super Bowl or National Collegiate Athletic Association tournament, according to online bookie <i>PinnacleSports.com</i>. To international football fans, betting is an integral part of enjoying a tournament.