The stability of the global financial system is being bolstered by favourable economic conditions, but some financial market risks have crept up in recent months, the International Monetary Fund (IMF) said on Tuesday. The IMF pointed to potential risks from the rapid decline in the United States subprime mortgage market, involving borrowers with poor credit history.
Manchester United produced one of the finest performances in 50 years of European competition to destroy AS Roma 7-1 on Tuesday and reach the semifinals of the Champions League for the first time since 2002. It was the biggest victory in a quarterfinal match in either the European Cup or Champions League since Real Madrid beat Sevilla 8-0 in 1957/1958.
Life isn’t bad in the North Caucasus mountain town of Kubachi. The air is pure, the view is magnificent and the centuries-old tradition of silver handiwork guarantees jobs for all. There is one downside for its 2Â 000 residents, however. Their neighbours a short donkey ride down the road can’t understand a word they say.
Three suspected suicide bombers blew themselves up on Tuesday following a police raid on a house in a Casablanca slum in which a fourth man was shot dead, police sources said. Police have been looking for up to 12 suspected suicide bombers since March 11 when the alleged leader of a suicide squad detonated his explosives belt in a cybercafé to stop police arresting him.
Locks of 3 200-year-old hair from the pharaoh Ramses II were unveiled at the Egyptian Museum on Tuesday, returned to Egypt after being stolen 30 years ago in France and put up for sale on the internet. The hair will eventually be put on display next to Ramses’s mummy at the museum.
Clarity in macroeconomic management underpins stable financial and currency markets and creates an environment conducive to stable economic growth. After the blow-out in 2001 — having stopped just short of hitting R14 to the United States dollar — the rand began on a steady path to recoup its value, writes Réjane Woodroffe.
The government has announced a proposal for a contributory earnings-based social security system that will provide for retirement, disability and death. This will complement the existing social security system, which has 11,8-million beneficiaries who will receive R89,4-billion in the current fiscal year, writes Thuthula Balfour-Kaipa.
The African National Congress’s (ANC) Western Cape branch considers the matter of murdered businessman Brett Kebble’s donations closed, it said on Wednesday. ”We regard the donations taken in good faith. If a legal process decides otherwise, we’ll take it from there,” said spokesperson Garth Strachan.
Eastern Cape traditional leaders want the South African Broadcasting Corporation (SABC) to slaughter an animal to apologise for screening a documentary on circumcision, media reports said on Wednesday. The leaders found SABC1’s drama Umthunzi Wentaba insulting because it stripped the tradition of its secrecy and sacredness.
Heavy floods in 19 provinces of Afghanistan left at least 91 people dead and 49 other injured in the past five days, while avalanches in northern Afghanistan have claimed the lives of 23 people, officials said on Wednesday. The most heavily affected regions were the northern Parwan and western Herat province.