Oil prices swung sharply upward on Friday as traders shrugged off the shock of the London bomb blasts and focused on a drop in United States crude stocks and possible supply disruptions because of Hurricane Dennis. Light, sweet crude for August delivery was up 84 cents at ,57 a barrel by midday in Europe.
About 200Â 000 municipal workers will down tools next Tuesday during a one-day nationwide strike. The South African Municipal Workers’ Union and the Independent Municipal and Allied Trade Union said on Friday they have arranged 60 marches in Johannesburg, Cape Town, Durban and several small towns.
Eight South Africans suspected of involvement in a planned coup d’état in Equatorial Guinea had their trial set down on Friday for next year in the Pretoria Regional Court. During a brief appearance in the morning, their trial date was set for January 16 to February 3.
Africa expressed grief and shock on Thursday after a string of explosions in London killed at least 37 people, amid concerns that ending African poverty will take a back seat to security issues at the Group of Eight summit in Scotland. ”The world and all progressive humanity are with you,” said President Olusegun Obasanjo of Nigeria.
Ethiopia’s main opposition party, the Coalition for National Unity (CUD), has pulled out of a joint team investigating alleged fraud in disputed parliamentary elections, officials said on Friday. The CUD complained of threats against its members in various parts of the country following post-election violence in which at least 37 people died last month.
Former southern rebel leader John Garang was due to arrive in the Sudanese capital, Khartoum, on Friday on his first visit to the city in more than 22 years following a January peace accord with the Sudanese government. Garang will be sworn in as Sudan’s first vice-president and president of a semi-autonomous southern region.
Thousands of glass workers went on a nationwide strike on Friday after the failure of wage negotiations with their employers. A spokesperson for the General Industries Workers’ Union of South Africa said between 6 000 and 7 000 glass workers went on strike from 6am.
More than 50 people died in Thursday’s four terrorist bombings in London, the city’s police chief said on Friday. Meanwhile, Iraqis who face suicide bombings on a daily basis on Friday condemned the London attacks, but many also blamed US and British policies for the rise in extremism worldwide.
The JSE Securities Exchange (JSE) rallied to a new high on Friday morning, boosted by futures-related buying. A softer rand further helped the local bourse. By 11.57am, the all-share index added 0,94% to 14 435,98, having touched a lifetime high of 14 438,06 a few minutes earlier.
Two South Africans were among the 700 people injured in Thursday’s bomb blasts in London, the Department of Foreign Affairs said on Friday. More than 50 people were killed in the attacks, London police said on Friday.