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South African inflation dips to 5.9pc JOHANNESBURG: South African inflation slowed to 5.9 percent last month from 6.4 percent in August, falling to within the central bank's target range, official data showed on Wednesday.Statistics South Africa said its September consumer price index fell by half a percentage point from the previous month, thanks in part to lower petrol prices.The South African Reserve Bank tries to keep inflation within a three to six percent band and has recently raised interest rates to curb inflation.The data came just hours before the new Finance Minister Nhlanhla Nene delivers his maiden budget speech on Wednesday.He is expected to revise the country's growth projections downward.South Africa, the continent's most developed economy, is teetering on the brink of a recession.Copyright AFP (Agence France-Presse), 2014

EU's Juncker pledges investment plan for jobs STRASBOURG: The incoming head of the EU executive, Jean-Claude Juncker, told the European Parliament on Wednesday that he would present his 300-billion-euro plan for investment to bolster growth and jobs by the end of this year.Switching significantly to German during a keynote address ahead of a parliamentary vote to endorse his new European Commission, Juncker said investment was vital to restoring growth and creating jobs.Germany, Europe's dominant economy, is resisting calls for it to spend ...

Doubts over Angola snatching Africa's top oil spot LUANDA: Insiders from Angola's burgeoning oil industry have reacted sceptically to predictions that the rapidly growing nation may be about to overtake Nigeria as Africa's largest oil producer.The International Energy Agency has predicted that from 2016 to around 2020 Angola will pump more crude onto the world market than its rival, thanks in part to Nigerian oil being syphoned onto the black market. "If it happens it will mainly be because of instability in Nigeria, ...

Africa Union chief to visit Ebola-hit nations ADDIS ABABA: African Union chief Nkosazana Dlamini-Zuma will travel to Ebola-hit west African nations, one of the most senior officials to do so since the outbreak, her spokesman said Wednesday.AU Commission chair Dlamini-Zuma will visit Guinea, Sierra Leone and Liberia "to assess the situation first hand", her spokesman said in a statement, without giving the exact dates of the trip.She will be accompanied by UN Economic Commission for Africa (UNECA) chief Carlos Lopes, as well ...

Nepal calls off search for survivors of deadly Himalayan snowstorm KATHMANDU: Nepal on Wednesday called off a search for any more survivors of a Himalayan snowstorm that claimed some 43 lives, after more than a week of scouring the popular trekking region.Emergency workers have airlifted 518 people to safety, including 310 foreign tourists, since the snowstorm struck the Annapurna Circuit during peak season, catching trekkers, their guides and porters unawares. "We have decided to call off the operation for now, staying (on) stand-by if there ...

One civilian killed in east Ukraine shelling DONETSK: One civilian was killed and five injured in shelling in east Ukraine's rebel-controlled city of Donetsk over the past day, local authorities said Wednesday.Heavy shelling hit the Kirov and Kalinin districts southwest and north of the city centre on Tuesday and throughout the night, although Wednesday appeared calmer, AFP correspondents said."One civilian was killed due to the fighting, and five more received injuries" on Tuesday, Donetsk city hall said.Although fighting between Kiev's forces and ...

US to funnel travellers from Ebola-hit region through 5 airports NEW YORK: The United States ratcheted up its safeguards against Ebola on Tuesday, requiring travellers from three countries at the center of an epidemic in West Africa to fly into one of five major airports conducting enhanced screening for the virus.Restrictions on passengers whose trips originated in Liberia, Sierra Leone or Guinea were announced by the US Department of Homeland Security and due to go into effect on Wednesday. The precautions stop well short of ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
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WeeklyOctober 20, 2014
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