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/ 10 November 2006

Oil prices fall despite increased demand

Oil prices fell on Friday after jumping above a barrel the previous day in reaction the leadership change in the United States Congress and amid reports of an increase in fourth-quarter global energy demand. The International Energy Agency forecast a 2,6% jump in fourth-quarter global energy demand.

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/ 10 November 2006

Mugabe is obstacle to change, says Tsvangirai

Zimbabwe opposition leader Morgan Tsvangirai on Friday welcomed an initiative by churches to help end the country’s political and economic crisis, but charged President Robert Mugabe is in denial and an obstacle to change. Mugabe has rejected recent calls made by leaders of Zimbabwe’s major churches for a new Constitution.

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/ 10 November 2006

Reserve Bank downplays rand risks

The volatility of South Africa’s rand could be negative for long-term growth, but for now the currency’s recent fluctuation should not upset financial stability, the country’s Reserve Bank said on Friday. The bank also repeated its concern about high levels of household debt, possibly signalling more interest rate hikes are immiment.

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/ 10 November 2006

IMF mission in Zimbabwe, but has no promise of aid

An IMF delegation is visiting Zimbabwe to help improve relations with President Robert Mugabe’s government, but officials say the fund has not offered any aid to the country’s crumbling economy. The Southern African country is now in its eighth year of recession, marked by the world’s highest inflation and chronic shortages of fuel, food and foreign currency.

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/ 10 November 2006

News veteran Ed Bradley dead at 65

Veteran CBS newsman Ed Bradley, a pioneering black American journalist who won acclaim as a Vietnam War correspondent and later as a reporter for ”60 Minutes,” died on Thursday of complications from leukemia. He was 65. Bradley, whose illness was not widely known, had just begun his 26th year as one of the team of reporters featured on the landmark CBS News magazine show.