French Finance Minister Christine Lagarde said on Monday that the worst of the United States mortgage crisis was over even if some US investment houses and funds could still be in trouble. Stock exchanges worldwide were sent reeling this month as US borrowers with risky credit histories — the so-called subprime sector — defaulted on their mortgage repayments.
Zambian Finance Minister Ng’andu Magande thinks there may be only one way to influence defiant Zimbabwean President Robert Mugabe — enlist the help of liberation giants like Nelson Mandela. Magande’s comments were tacit recognition that Southern African Development Community leaders failed during their meeting last week.
Perched high above the Himalayan town of Leh, a warren of traditional mud-brick houses squats by the ruins of the royal palace and a monastery, appearing to grow out of the mountainside. These homes in the capital of India’s Buddhist Ladakh region, which have stood for centuries, are regarded as some of the best remaining examples of urban Tibetan-style architecture.
Sometimes referred to as the Sea Robbers, a discordant Orlando Pirates dutifully stole away with a 2-0 victory at Athlone Stadium on Sunday afternoon after being outplayed for most of the SAA Supa8 game by Ajax Cape Town. Late second-half goals against the run of play earned the Buccaneers a place in the semifinals alongside Mamelodi Sundowns, Jomo Cosmos and SuperSport United.
Manchester City edged defending champions Manchester United 1-0 on Sunday, giving Sven-Goran Eriksson his third straight shut-out in three matches as a Premier League manager and a two-point lead at the top of the standings. Brazilian midfielder Geovanni, one of Eriksson’s eight pre-season signings, scored the winning goal in the 31st minute.
England coach Brian Ashton was left to rue a breakdown in the basics in his team’s tryless showing in the 22-9 defeat to France, the second loss in eight days against the World Cup hosts. The England squad now have 10 days off before gathering again in London on August 29 and Ashton and his coaching staff have been left with plenty to think about.
Top-ranked Roger Federer reached another measure of tennis greatness on Sunday, winning his 50th tournament title by beating James Blake 6-1, 6-4 in the Western & Southern Financial Group Masters final. The 26-year-old Swiss star became the fifth-youngest player in history to reach 50, and only the ninth overall in the open era to win at least 50 tournaments.
Jazz guitarist Johnny Fourie (70) was a ”rare and dedicated” musician, friends said in a tribute following his death in Johannesburg on August 19, just months after releasing his debut album, Once upon a Time. ”His family, students and fans will sorely miss him,” they said in a statement.
A plane belonging to Taiwan’s China Airlines exploded and caught fire soon after landing on Japan’s southern island of Okinawa on Monday, but officials said all 165 people on board had escaped safely. The Boeing 737-800 plane, which had just arrived from Taipei, was already being evacuated when the left engine exploded.
South African Communist Party (SACP) general secretary Blade Nzimande on Sunday said he never received an alleged R500 000 cash donation for the party, which is said to be missing. ”I wish to place it on record that I have never received the alleged R500 000 from any person, as is alleged,” Nzimande said in a statement.