The South African rand was hovering just below the psychological R6,00 per dollar level in late afternoon trade on Friday, after breaching this level a couple of hours earlier on the back of offshore dollar sales. The rand earlier touched R5,95 the first time since June1999.
For too long science has overlooked the hillbilly. Perhaps fearing being tied to a tree and molested, anthropologists and sociologists have eschewed the deep woods, failing to draw back the mosquito net of secrecy that still obscures this remarkable tribe. Scratch the surface of the hillbilly, and we find little rolls of dirt and traces of antifreeze under our fingernails. Wash the surface and then scratch, and we find the story of humanity itself.
The economy is the strongest it has been in a decade — but the best is yet to come. Economists believe economic growth could sail above 3% this year, well ahead of the 2,8% originally projected, buoyed by surging consumer confidence and higher manufacturing output. The impressive growth owes itself to the low inflation and surging consumer confidence.
Vehicle sales are a major economic index — but they also serve as a useful demographic indicator. This week vehicle finance bank Wesbank released figures showing that over the past 10 years the value of vehicle loans to black clients increased tenfold, from R736-million in 1994 to R7,6-billion in 2004. This increase occurred against the backdrop of a 490% increase in the bank’s total book.
The <i>Mail & Guardian</i>’s 2/10 rating for Ntsika Enterprise Promotion Agency in its assessment of agencies last week does not reflect our reputation as a leading agency that supports small business in South Africa. We operate as a wholesale agency, which means we use intermediary organisations to deliver business services on our behalf, writes Lefa Mallane.
Every parent knows the moment the balance of dependency shifts. Nothing needs be said; both parties know instinctively that from now on it is negotiation time. It is the recognition of equality of power. Governments know it, too. Phoney equality — as represented by the P in Nepad (New Partnership for Africa’s Development) — is seen for what it is.
The African Union under the leadership of Alpha Konare, Mali’s former president, has committed itself to moving from non-interference to non-indifference. It was incredible to see African leaders calling on their Sudanese colleague, Omar el-Bashir, to account for the situation in Darfur: a far cry from the days of the Organisation of African Unity when such interference was taboo.
The Zimbabwean government this week stepped up efforts to crack down on the <i>Mail & Guardian</i>. The police served a subpoena on the security manager of Century Bank in Harare summonsing information about the newspaper’s bank account, including records of cheque transactions, since the beginning of the year.
<li><a class=’standardtextsmall’ href="http://www.mg.co.za/Content/pd.asp?ao=118793">Former M&G journo under hotel arrest</a>
Either he is putting on a sensational act to camouflage a deeply sensitive and shrewd mind, or Jose Mourinho really is the most self-adoring person to set foot in the English premiership. A handful of days into his new job at Stamford Bridge, he said: “I think at the end of my contract the club will be interested in giving me a new one.”
So it looks like Arsenal are finally going to pay the price for their lack of financial clout. For too many years the North London club have kept pace – and more – with the moneybags European powers but something has to give. Last season’s unbeaten champions could be about to see the heart of their side ripped out by Real Madrid.