No image available
/ 24 March 2008

Oil prices drop amid US economic concerns

Oil prices slipped more than a barrel on Monday as traders worried that the flagging United States economy would cause oil demand to soften. Oil’s sharp decline started last week. Crude futures started plunging after the US Federal Reserve-backed sale of Bear Stearns to JPMorgan Chase created fears of deeper economic problems.

No image available
/ 2 March 2008

Valli’s paradox

Bedrooms (or the Oval Office, as the case may be) and boardrooms: they tend to share a characteristic — closed curtains. And when you ask the big guy whether he’s been fooling around, literally or figuratively, the answer all too often is "trust me". But once in a blue moon a reluctant witness comes forward with a stained blue dress. Does Hillary trust her man? No way.

No image available
/ 28 February 2008

Inflation surge boosts rate-hike chances

South Africa’s consumer inflation, which jumped unexpectedly in January, raised the risk of further monetary tightening despite worries over slowing economic growth. Statistics South Africa said on Wednesday that targeted CPIX (consumer inflation less mortgage costs) stood at 8,8% year-on-year in January compared with 8,6% in December.

No image available
/ 25 January 2008

Govt outlines plans for power crisis

Switch off your lights is what the government is urging South Africans to do to immediately address what it calls a ”national electricity emergency”. On Friday, Public Enterprises Minister Alec Erwin and Minerals and Energy Minister Buyelwa Sonjica outlined several plans to alleviate the country’s electricity shortage.

No image available
/ 5 December 2007

Iranian president claims US report as a victory

Jubilant Iranian President, Mahmoud Ahmadinejad, on Wednesday said the United States report confirming his country had abandoned its nuclear weapons programme was a ”declaration of victory”. ”This was a final shot to those who, in the past several years, spread a sense of threat and concern in the world through lies of nuclear weapons.” Ahmadinejad said.

No image available
/ 6 November 2007

Clicks makes the switch to save energy

Major retailer Clicks announced on Tuesday that it has crushed more than 56 000 of the conventional light bulbs it stocked and is now only selling energy-efficient bulbs. While this comes at some cost to Clicks, it will help conserve energy and protect the environment, the company said in Johannesburg.

No image available
/ 12 September 2007

Oil price up to record $80 a barrel

New York crude oil prices reached a barrel on Wednesday for the first time as the market fretted over declining United States reserves and a new tropical storm in the Gulf of Mexico. Prices shot higher after news that US crude reserves fell by a sharper-than-expected 7,1-million barrels over the past week.