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/ 1 December 2003

UN role in Burundi to be discussed

South African Deputy President Jacob Zuma is to visit the United States from Wednesday for talks with United Nations Secretary General Kofi Annan and the UN Security Council, on UN involvement in further advancing the Burundi peace process. The deputy president is due to meet Annan and the council on Thursday.

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/ 1 December 2003

Steady rand to test R6,30 a dollar

The South African rand was steady against major currencies in late afternoon trade on Monday in a quiet market. Currency traders said that the local unit’s firming trend was still intact and saw it targeting R6,30 later in the week. Traders expected expected the rand to trade in a R6,35 to R6,41 range overnight.

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/ 1 December 2003

VAT collection on the rise

The 32,6% year-on-year (y/y) rise in value-added tax (VAT) collections to R7,528-billion in October points to a buoyant South African economy, as VAT is a very good indicator of general economic activity. This is because VAT is levied throughout the production and distribution chain.

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/ 1 December 2003

Mbeki sounds alarms over Cote d’Ivoire

President Thabo Mbeki on Monday expressed his concern over the deteriorating security situation in Cote d’Ivoire and the increasing possibility of a resumption in that country’s civil war. Mbeki called on the country’s people to look past petty differences at the consequences of war for themselves and their neighbours.

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/ 1 December 2003

World markets boost JSE

After a choppy start, the JSE Securities Exchange South Africa sailed into positive territory on Monday morning, boosted by stronger world markets and futures-related buying. Just before noon, advancers outnumbered decliners on the all-share index by almost two to one.