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/ 16 May 2008

Oil price surges to record high above $127

The price of oil rocketed to a record high point of $127,43 per barrel on Friday, as United States President George Bush prepared to urge Saudi Arabia to pump more crude. New York’s main oil futures contract, light sweet crude for June delivery, beat the previous all-time peak of $126,98 set on Tuesday owing to worries about tight supplies.

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/ 16 May 2008

BEE remains key driver in SA

The volume of black economic empowerment (BEE) transactions completed in South Africa over the past decade is valued at R200-billion, ratings agency Moody’s said on Friday. Releasing a special corporate finance report, Moody’s said BEE continues to be a key driver of corporate activity in the country.

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/ 15 May 2008

IMF chief says worst of financial crisis is over

The worst of the financial-sector crisis is over, although the impact on the broader economy will likely drag on in coming months, International Monetary Fund (IMF) managing director Dominique Strauss-Kahn said on Thursday. "There are good reasons to believe that the largest part of disclosure in financial institutions has been done," he said.

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/ 15 May 2008

Days of our shame

The wave of xenophobia sweeping the country is as embarrassing as it is mindboggling. All our leaders in government and the opposition are united in their condemnation. However, we all seem to be caught by surprise and are unable to explain a phenomenon that is sure to blot any image that President Thabo Mbeki has worked hard to build of South Africa being the leader of the cause of African renaissance on the continent.

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/ 15 May 2008

Grief turns to fury

Four hundred and fifty pupils, aged between six and 12, were there when the quake hit. A fortunate few were pulled out within hours by anxious parents scrabbling at the wreckage with bare hands. A handful more were saved overnight, after troops arrived to take over the rescue effort.

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/ 13 May 2008

Oil demand set to ease, says energy agency

Record oil prices and a slowdown in advanced economies are set to curb global oil demand despite growth in China and the Middle East, the International Energy Agency (IEA) forecast on Tuesday, saying stockpiling was a key factor. Demand from emerging economies might be set back if and when governments decide that fuel subsidies are unsustainable, the IEA said.

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/ 13 May 2008

The first-year experience made easier

Love, death and money are some of the reasons first-year students across the globe drop out — not to mention the academic hardships they often encounter.
The intricacies of coping at varsity — the first-year experience — are the focus of international study by the higher education sector.

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/ 13 May 2008

Teaching hotel aims to meet tourism need

The University of Johannesburg plans to build a teaching and training hotel on its Auckland Park Bunting road campus to tackle the growing need for tourism and hospitality managers. The project will be an extension of its school of tourism and hospitality, which opened a few years ago thanks to a massive capital injection by business tycoon Sol Kerzner.

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/ 13 May 2008

All you need to study abroad

The United Nations Educational, Scientific and Cultural Organisation (Unesco) has launched a portal on higher education institutions across the globe to support students who need reliable and fresh information about studying abroad. This portal offers online information about institutions sanctioned by competent authorities in participating countries.

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/ 12 May 2008

Why land reform is stuck

Land reform needs to make its beneficiaries and the country better off. Little is gained in the long run if justice turns out to be purely symbolic, leaves people poorer or even aggravates grievances. So it’s worrying that, as the director general of land affairs is reported to have said, at least 50% of government land-reform projects have failed to make their beneficiaries permanently better off.

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/ 12 May 2008

Out the drawing room

Soweto-born contemporary art specialist Melissa Mboweni has been named the curator of the fourth MTN New Contemporaries Award. A former curator of the Goodman Gallery in Johannesburg, Mboweni brings to the role a wealth of experience necessary for selecting the country’s top emerging young artists later this year.

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/ 12 May 2008

Corruption always fights back

Nigerian investigative reporter Azubuike Ishiekwene’s book <i>The Trial of Nuhu Ribadu</i> chronicles the rise and fall of Mallam Nuhu Ribadu, who as chairperson of the economic and financial crimes commission led the battle against corruption in Nigeria. He was accused of doing then-president Olusegun Obasanjo’s dirty work in knocking out opponents and after Obasanjo left office was suddenly redeployed and his work downgraded.

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/ 10 May 2008

Weather forecasting — another Olympic contest

Meteorologists may not always feel appreciated, but at the Beijing Olympics at least they will have their own contest. Weather agencies from eight countries or territories plan to hold their own competition during the Games in August, squaring off on which one can most accurately predict conditions in Beijing, the Japanese side said on Friday.

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/ 10 May 2008

Microsoft appeals against record EU antitrust fine

Microsoft on Friday lodged an appeal at a European court against the record &euro;899-million fine imposed on it by the EU Commission for defying a landmark anti-trust ruling. "Microsoft today filed with the Court of First Instance an application to annul the Commission decision of February 27," a spokesperson for the US software giant said in Brussels.

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/ 9 May 2008

Oil price surges past $125

The price of New York crude oil surged past $125 per barrel on Friday, lifted by speculative demand amid concerns about tight global energy supplies, analysts said. New York’s main oil futures contract, light sweet crude for June delivery, spiked as high as $125,98 in early afternoon London trading.

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/ 9 May 2008

Adcock Ingram admits role in medicines cartel

Adcock Ingram Critical Care, a healthcare unit of JSE-listed Tiger Brands, has been fined R53,5-million, or 8% of its annual turnover, for admitting its role in fixing the prices of medicines supplied to hospitals, the local anti-trust authorities said on Friday. The matter was referred to the Competition Tribunal on February 11 2008.

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/ 9 May 2008

Oil price hits another record near $125

World oil prices hit a fresh record high point close to $125 per barrel on Friday, extending this week’s record run after the Organisation of the Petroleum Exporting Countries insisted the market was well-supplied and driven by speculators. New York’s main oil futures contract, light sweet crude for June delivery, spiked to an historic $124,73 per barrel.