Three South African names appear on this year’s Forbes World Billionaires list, released late on Wednesday. The names include Nicky Oppenheimer, Anton Rupert and mining magnate Patrice Motsepe — this country’s first black billionaire. Nicholas Oppenheimer is placed 173rd on the list, while Rupert is in 284th place and Motsepe is at number 503.
The price of gold hit a new record on Thursday close to the symbolic $1 000per ounce level as the precious metal was boosted again by the weak dollar, traders said. On the London Bullion Market, the price of gold jumped as high as $991,68 per ounce, beating Wednesday’s record high of $991,47.
Delays in construction as a result of the country’s current electricity-supply problem undermine efforts to grow the economy, the African National Congress (ANC) said on Thursday. ”Every effort must be made to ensure that the current problems in electricity supply do not negatively affect the building of projects of this nature,” it said in a statement.
The Cabinet has given the assurance that everything possible is being done to address the British government’s concerns about the security of South African passports. ”South African passports are among the safest … in the world, and that’s the reason why they are being targeted,” government communications head Themba Maseko said on Thursday.
The South African Cabinet has condemned recent incidents of racism and sexism around the country, saying they have the potential to undermine South Africa’s Constitution, a government spokesperson said on Thursday. ”The transgressors must know that there will be legal consequences,” government communications head Themba Maseko said.
The South African government has moved to stem the haemorrhaging of jobs in the mining industry by allowing mines to increase their power consumption to 95% of normal usage. Minister of Energy and Minerals Buyelwa Sonjica was cited in various media reports on Thursday as saying that mines would be allowed to up their power use by 5%.
South Africa paceman Dale Steyn, fresh from being named player of the series in the recent Bangladesh tour, is proud his name is now being bracketed with some of the world’s best. ”Just to be put in the same bracket like [Muttiah] Muralitharan, Glenn McGrath, Shaun Pollock or Shane Bond, it’s remarkable,” he said in an interview on Thursday.
Oil prices surged past $105 for the first time on Thursday as traders reacted to a surprisingly sharp fall in United States crude reserves and the plunging US dollar, analysts said. New York’s main oil contract, light sweet crude for delivery in April, hit $105,10 per barrel, topping the previous record of $104,95 set on Wednesday.
In February 2008 year-on-year growth in house prices in the middle segment of the market slowed further to a nominal 8,7% from a revised 9,9% in January, Absa said on Thursday. ”House-price growth has not been so low since the end of 1999, when it was 9,3%,” it said.
Sri Lanka was hit by scathing criticism over its human rights record on Thursday, with its government fingered over hundreds of ”disappearances” and an influential panel storming off the island. The move is a major blow to the image of the island’s government, which pulled out of a truce with Tamil Tiger rebels in January.