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/ 7 September 2005

Visa-wielding tourists spend billions in SA

International tourists travelling in South Africa used their Visa cards to pay for approximately $1,5-billion-worth (R9,51-billion-worth) of purchases at merchants in the 18 months to June 30 this year, with those from the European Union (including the United Kingdom) accounting for $997-million (65%) of the overall spend.

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/ 7 September 2005

SA will not ‘unilaterally’ pay Zim loan

South Africa will not unilaterally pay back Zimbabwe’s loan to the International Monetary Fund, as the country ”is not South Africa’s 10th province”, says South Africa’s Minister of Foreign Affairs, Nkosazana Dlamini-Zuma. Addressing a briefing at Parliament on Wednesday, she said the matter of the loan offer ”hasn’t moved”.

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/ 7 September 2005

What has Hussein al-Tahaan got to smile about?

On his desk sit two thick folders of citizens’ complaints. Before him a roomful of officials are detailing the city’s corruption, anarchy and crumbling infrastructure. Out in the corridor supplicants wait their turn to plead for help. Throughout city hall staff lack education, skills and equipment. Hussein al-Tahaan leans back, takes off his spectacles and rubs his eyes.

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/ 7 September 2005

Affordable offshore investing

For Deutsche Bank and the JSE, the launch of Itrix, their range of international exchange traded funds (ETFs), could not have come at a better time amid fierce public debate on fund management fees. An ETF is a basket of shares that passively tracks an underlying index and is itself listed on a stock exchange.

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/ 7 September 2005

Twist in tale of Rubik’s cube

It was an era of nuclear brinkmanship, trade wars and decidedly iffy hairstyles. But in Japan the early 1980s is also remembered as the heyday of a chunky plastic puzzle that drove millions of children to distraction. A quarter of a century on the Rubik’s cube is being snapped up again, this time by nostalgic Japanese in their 30s and children who are apparently growing tired of complicated video games.

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/ 7 September 2005

Farmers threaten armed struggle

White farmers on Wednesday threatened an armed struggle similar to that waged by the African National Congress unless their property and cultural concerns are addressed. A handful of farmers presented a memorandum to TAU South Africa president Paul van der Walt on the fringes of an agricultural union conference.

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/ 7 September 2005

Koizumi sends out political ‘assassins’

Junichiro Koizumi, Japan’s maverick Prime Minister, has a rival for the title of the great reformer in the shape of a self-made multimillionaire who describes this Sunday’s general election as a contest between old and new Japan. Takafumi Horie became a household name earlier this year after he launched an unsuccessful bid to gain control of Fujisankei, one of Japan’s most influential media groups.