Prime Minister Jens Stoltenberg's�Labour Party receives the support of 41.7 per cent of the electorate in the Synovate poll for July, up 11 percentage points from last month's poll.
Source: http://www.norwaypost.no/news/sympaty-poll-for-labour-25515.html
Gold hit record highs after weak economic growth data from the United States raised the prospect of further monetary easing and a weaker dollar, while the impasse over the country's debt ceiling reinforced positive sentiment.
|||Gold hit record highs on Friday after weak economic growth data from the United States raised the prospect of further monetary easing and a weaker dollar, while the impasse over the country's debt ceiling reinforced positive sentiment.
Spot gold touched an all-time peak of $1,632.16 a troy ounce, a gain of about 8 percent so far this week and 14.3 percent so far this year.
It was bid at $1,628.80 a troy ounce by 16:01 SA time, up 0.8 percent from $1,616.35 an ounce late in New York on Thursday.
The latest trigger came from data showing the US economy grew less than expected in the second quarter while growth in the previous quarter was sharply revised lower.
“It was quite a bad release and it raises hopes that there will be more monetary easing in the form of quantitative easing and that's positive for gold as an investment asset,” said Matthew Turner, precious metals analyst at Mitsubishi.
More signs of weak growth came from a release showing business activity in the US Midwest grew less than expected in July.
Further easing would hit the dollar, which when it falls, makes commodities cheaper for holders of other currencies.
Loose monetary policy in the United States in recent years has weighed on the dollar and boosted gold, which investors also use as a hedge against inflation and political and economic uncertainty - a dominant theme in markets at the moment.
“We very much see precious prices as being part of a liquidity-fuelled bubble, whether you call it debt monetisation or quantitative easing or just holding interest rates at abnormally low levels,” said Nic Brown, analyst at Natixis.
Focus was also on debt talks in the United States, where Republican leaders were scrambling to rescue their budget deficit-cutting plan after conservatives mounted a rebellion that heaped uncertainty on efforts to avert a catastrophic debt default.
Debt troubles in the euro zone were also on investors' radar screens, after ratings agency Moody's put Spain on review for possible downgrade, raising fears of an escalation of the debt crisis in the region's peripheral economies.
“You have a question of long-term fiscal sustainability and so far neither Europe nor the US have demonstrated an ability to ensure long-term fiscal sustainability,” Brown said.
“If you have worries that there is not going to be any deal (in the US) come August 2 then there is scope for some upward correction (in gold prices) from where we are now.”
The dollar fell to a four-month low against the yen and hovered near record lows versus the Swiss franc.
Investor unease can be seen in the holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, which rose 1.5 percent on Thursday from a day earlier to a six-month high of 1,262.98 tonnes by July 28.
SOUTH AFRICA DISPUTE
Labour strife in South Africa was closely watched by the market, with gold mine workers and the major producers scheduled to meet on Friday for talks aimed at ending a strike.
The impact of supply outages - particularly short-term ones - on gold is usually fairly soft, given the availability of above-ground stocks of the metal relative to other commodities.
However, the strike could give more of a lift to platinum prices if it spreads to that sector.
Around four in every five ounces of platinum is sourced in South Africa, so supply disruptions in the republic have a significant effect on metals prices. South African supply outages were a major factor driving platinum to a record $2,290 an ounce in early 2008.
Spot platinum was flat at $1,780.99 an ounce.
Spot silver rose 0.5 percent to $40.19 an ounce, but was off a more than two-month high of $41.42 hit this week. It was set to rise nearly 14 percent in July, its best month since April.
Spot palladium added 0.1 percent to $823.75 an ounce, and is heading for a monthly rise of nearly 10 percent, its best this year. - Reuters
Source: http://www.iol.co.za/gold-jumps-to-record-high-1.1108675
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This is the�fifth�in a series of�articles written by a Norwegian-born teenager living in the US, returning to Norway for the first time this summer. Martha Melsom (16) has promised to share her experiences�...�..
Source: http://www.norwaypost.no/culture/teen-summer-in-norway-down-history-lane-25510.html
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Ramadan is here again: That period of the year when Muslims embark on a month-long fast in obedience to Islamic injunctions. What is its significance and how should faithful prepare for the season? BISI ALABI WILLIAMS and SULAIMON SALAU spoke to some clerics.
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?Preparation Entails Cleansing From Past Sins, Repentance?
(Luqman AbdurRaheem, National Amir of The Muslim Congress (TMC), Nigeria)
ALLAH says: ?The month of Ramadan in which was revealed the Qur?an, a guidance for mankind and clear proofs for the guidance and the criterion (between right and wrong). So whoever of you sights (the crescent on the first night of) the month (of Ramadan, i.e., is present at his home), he must observe fasting that month, and whoever is ill or on a journey, the same number of days during which one did not observe fasting must be made up from other days. Allah intends for you ease and He does not want to make things difficult for you. (He wants that you) must complete the same number (of days), and that you must magnify Allah for having guided you so that you may be grateful to Him.?
Muslims, as fathers, mothers, matured boys and girls are implored to prepare themselves proactively before the blessed month approaches. Spiritual preparation entails cleansing ourselves from past sins, misdeeds, wrongdoings and iniquities by seeking swift repentance (Tawbah).
The prevalent sins and excesses in human society, especially Nigeria include adultery, alcoholism, drug addiction, peddling of narcotics, fornication, gambling, fraudulent sales, dirty businesses, and dishonesty by artisans, rigging of elections, imposition of imbeciles as political leaders, counterfeiting, harmful businesses and corruption by public servants.
Other aspects of spiritual preparation include: constant and regular Salat, charity and Zakat, modesty in dressing, shunning of tribalism, envy, jealousy, backbiting, rumour mongering and frivolities.
Physical preparation entails a cursory examination by every individual Muslim of his/her state of health, in readiness for the 29 or 30 days of spiritual retreat and fasting.
It is also a deliberate move to seek the advice of a Muslim medical doctor on fitness to fast, especially by the sick, aged and those suffering from ailments such as diabetes, high blood pressure, fever et cetera. On this, we recommend test in malaria, ulcer, high-blood pressure et cetera. A strong Muslim is better than a weak one.
Islamic organisations, mosques, business organisations, NGOs, Charity-based association and Muslim communities are all requested to have well-designed programmes and projects for implementation in the month of Ramadan.
Organisational preparations include the setting up committee on Ramadan, engaging in Mosque rehabilitation/decoration, environmental sanitation, printing of pamphlets/leaflets for awareness, sponsorship of lectures on radio/TV, fund raising activities for public lectures, Laylatul Qadr, Eidul-Fitri get-together, Zakat-ul-Fitri collection, sensitisation on Zakat assessment, collection and distribution and monitoring the crescent (moon).
On the preparation to monitor the crescent, which unfortunately is one of the causes of disunity in Nigeria, we recommend the counsel of the Prophet (Peace be upon him): He said: ?Count well the crescent of Sha?aban because of Ramadan? He also said: ?Start to observe fasting when you see it (crescent of Ramadan) and give up observing fasting when you see it (crescent of Shawwal). And if the sky is overcast (and you cannot see it, complete the counting of Sha?aban to be 30.?
?It?s An Opportunity To Preach And Practice Love?
(Moshood Adenrele Fashola Amir, Ahmadiyya Muslim Juma?at, Nigeria)
FOR Muslims, Ramadan is a month of prayer, spirituality and forgiveness. Through fasting, we can achieve nearness to our Master, God Almighty. In Ramadan, everybody tries to create the love of Allah in his heart and ask His forgiveness. During this holy month, a more concentrated effort is made to say the personal Tahajjud prayers, which are offered in solitude during the hours of darkness, alone and in the presence of God.
In the last 10 days of Ramadan, devout members, men and women must disconnect themselves from worldly affairs; stay in the mosque and pray. We should draw closer to God Almighty. We should show our obedience to him and help the poor and the needy. We should pray to Allah that these noble qualities should continue throughout our lives. We must observe charity and compassion, peace and goodwill to all mankind.
August 1st will be the first day of fasting. Muslims around the world will be fasting from dawn to dusk during this holy month. The Prophet Muhammad told us that, ?Allah the Exalted and Majestic said: Every act of the son of Adam is for him, except fasting. It is (exclusively) meant for Me. And I (alone) will reward it. Fasting is a shield. During the fast, we should not indulge in obscene language, or raise our voice at anyone. And if anyone reviles us, we should tolerate them. Believers are assured that Allah accepts their prayer and He exhorts them to call on Him, hear Him and believe in Him.
Allah, the Beneficent, has provided humankind a path that leads to His mercy and love. He has prescribed various means for successfully attaining this path ?the right path for which we beseech Allah in our daily prayers through the Al-Fatihah. One of the means the Beneficent has given us to find this right path is fasting. He blesses us every year with the holy month of Ramadan to draw ourselves nearer to Him.
Muslim must take full advantage of this opportunity to preach and practice love to those around them. They must gain closeness to Allah through fasting and regular prayers and pay special attention to Tahajjud prayer. Incorporate Qur?anic teachings in your lives by reading it, understanding it, and most importantly practicing its injunctions.
Continuous prayers must be made for our leaders for wisdom to tackle all the challenges of government.
??The Month Of Positive Spirituality, Charity, Compassion, Acceptance?
(Sabitu Ariyo Olagoke, Founder and Spiritual Head, Shafaudeen In Islam Worldwide)
THE month of Ramadan is an opportunity for many Mosques and Muslim organisation to mount vigorous teachings on the need for religious harmony and peace in the overall interest of the nation.
That is why Muslims in Nigeria, and indeed the world, have been urging religious leaders to remain in the vanguard for tolerance and peace, which is the true message of Islam.
As we commence the holy fast, we must seek peace and promote it with all and sundry. We should not allow religious crisis to tarnish the good ideals of our religion or allow satanic tendencies and religious crisis to deny our nation of the bountiful blessings that Almighty Allah has promised us during this holy month.
Lessons from Ramadan include piety, kindness, honesty, perseverance and fear of God. These are ethical values, which need to be imbibed by the Nigerian government and its people, so that we can have a safe polity with feasible measure of achievement in poverty alleviation and accelerated development.
Our nation needs the dividends of Ramadan to tame its social menace and promote harmonious atmosphere for good neighbourliness and national cohesion. For this reason, let us all accord Ramadan its much-deserved respect as a divine task for mankind in general and Nigerian Muslims, in particular, to salvage our cause.
All Muslim must join hands with the government in its pursuance of true greatness for Nigeria politically, economically and socially, even as we reflect on the lessons of the holy month.
Despite the claims of some fundamentalists, Ramadan is the month of self-discipline, peace, and tolerance. During this highly spiritual time of the year, we should be guided in our daily life by higher Islamic principles. For example, self-discipline takes the form of controlling some of our ravenous human desires. The pleasure we usually seek in eating delicious food is voluntary curtailed. When the sun sets during Ramadan, we are supposed to continue controlling our appetite by eating moderately, while at the same time think of the plight of those who do not enjoy what we take for granted.
In addition to self-discipline, self-control during Ramadan also applies to other activities in our daily life. We are supposed to control our anger, and seek reconciliation instead of hostility toward others. In fact, a rational Muslim, who truly understands the peaceful nature of this holy month, will never abuse others verbally or even by thought.
This self-discipline during Ramadan derives its value and meaning from a historical designation of the 30 days or less for achieving spiritual peace.
A rational is required to uphold the law of the land, show respect for others, and become a positive force in the community. It is actually during Ramadan that Muslims are supposed to reveal more than any other time the true nature of Islam, embrace love, peace and tolerance. Of course, Muslims should not wait until it is Ramadan to show tolerance toward others. We should become the most tolerant among all humans, or at least, this is what we read in the Holy Quran, our sacred book.
Ramadan is the month of positive spirituality, charity, compassion, and acceptance. The caring and sharing aspect of Ramadan as exemplified in the way the rich interact with the poor should be a culture to be imbibed by government in dealing with her people in order to realise dividends of democracy by all.
Muslims are supposed to become charitable toward those in need, compassionate toward Muslims and non-Muslims. Moreover, they should use this spiritual opportunity to renew their relationship with God and with other humans. Accepting others during Ramadan usually takes the form of showing great respect for human dignity while maintaining the sacredness of human life.
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Ayoola Sodade is a young artist, who, though appears to be in a hurry to start a movement he has christened Shodaism, his skill in mixed media, which covers the visual arts and other genres is a greater prospect than his ambition to create a movement.
AFTER six years in practice, as a print and design artist, his first solo art exhibition titled Creativity in Visual Axiom, held at the Yusuf Grillo Gallery, Yaba College of Technology (Yabatech) explained much of the prospect in Sodade?s work.
The artist stated that the journey starts with the knowledge and the right application of this prospect.
?Right from my National Diploma (ND), I chose painting, sculpture and textile Design as part of my best courses. Little did I now that God was actually setting me on the right path. Meanwhile, I was also an artist with no uniqueness. It became dawn on me to create a niche (an identity, a trademark, an expression) tied solely to my artistic motivation and style.
?Ankara fabric revolution brought in the use of lines as characters in my work. Other materials used are junks materials, wood dust, using different colours of sand, bottle tops, cowries etc.
?This was the genesis of my art movement tagged ?Shodaism, coined from my name Sodade. It is a call for a self re-evaluation or re-examination of our deeds. Simply, Shodaism preaches turning people?s evil intention to good and best to merit, with an alternate of a crown. Shodaism has disciples; four converts, who shared in the identity and ideology.?
The curator of the gallery, Adeola Balogun in his foreword of the brochure for the exhibition writes that one of the main objectives of Yusuf Grillo Gallery (YGG) is to continuously support the established and upcoming artists, (local and international).
?Securing an exhibition space has always been one of the challenges encountered by young and upcoming artists. Having realised that it is a career-threatening hurdle, the gallery is ever ready to support artists with credible research bias.
?Creativity in Visual Axiom is the third show to be hosted in the gallery this year. The artist, Sodade is a dedicated, focused and promising artist in his chosen path. His present genre and milieu has afforded him the zest in a new kind of art technique, which he has faithfully coined Shodaism, a specialized kind of mixed media (experimental art). Ayoola is well disposed to adopting into his visual deliberations, an array of objects such as calabash, cowries? shells, textile materials, twine, etc. to realize his composition both in abstract and expressionistic genre. Most of the works exude and reflects on socio-cultural values that evident in the society.
Artist and scholar, Rukeme Noserime noted that Sodade?s visual assertion reflects the marriage between, culture, traditional values, man, nature and motifs. ?These conglomerations of modern art corpus reflect his latest series of visual experiments, he calls Shodaism. The near bas-relief tactile sensation achievement of these works is via the combination of various media: acrylic or oil, emu-glue, araldite, resin, wood, sawdust, stones, beads, cowries, leather, sand, rope(fibre), plastic, textile materials ( effused fabrics), metals, serviette paper, etc.
?Shodaism, is a type of artistic experiment, where he utilizes various found objects, in creating a curio type of art (O?bjet, D?art), via a near bas-relief picture plane. The peculiarity of his work encompasses the infusions (dominant) of fabric materials in analogous formation, in creating pictorial compositions, using African socio-cultural values of his present milieu.
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Zimbabwe is in talks with US financial authorities to import American coins, after dollarisation left the country without any change.
|||Zimbabwe is in talks with US financial authorities to import American coins, after dollarisation left the country without any change, Finance Minister Tendai Biti said Thursday in state media.
“Efforts to import small dollar coins to ease the small change problem are continuing, with the Bankers' Association of Zimbabwe now spearheading the process in liaison with US financial authorities,” he said in The Herald newspaper.
“It is envisaged that the coins will be availed before the end of the year,” he said.
Zimbabwe abandoned its local currency in 2009, after years of hyperinflation left it worthless. Now the government allows trade in major foreign currencies, but the US dollar has taken over as the currency of reference.
US banknotes are now readily available, but the country has no coins.
If shoppers make a purchase that doesn't total an even dollar amount, they are forced to buy candies or other small items to make up the difference. Otherwise they receive a handwritten IOU on the back of their till slip, redeemable back at the same shop. - Sapa-AFP
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The ANC has lashed out at those who challenged President Jacob Zuma’s extension of Chief Justice Sandile Ngcobo’s term of office.
|||The ANC has lashed out at those who challenged President Jacob Zuma’s extension of Chief Justice Sandile Ngcobo’s term of office after the Constitutional Court on Friday struck down the legislation he invoked to do it.
The Presidency, meanwhile, insisted that Section 8 of the Judges’ Remuneration and Conditions of Employment Act, used by Zuma to extend Ngcobo’s term, had been valid until Friday’s judgment, which found it to be unconstitutional, and said the government would study the ruling to see what directives the Constitutional Court was giving to Parliament for remedial action.
This follows widespread condemnation of the way the matter was handled by Zuma and the ANC in Parliament, which many claimed had put Justice Ngcobo in an untenable position and forced him on Wednesday to withdraw his acceptance of the extension – rather than find himself potentially on the wrong side of a ruling by his Constitutional Court colleagues.
“The president has begun the process of appointing a new chief justice and will do so in accordance with the provisions outlined in the constitution of the republic,” Zuma’s office said.
While the ANC claimed to welcome the judgment “unconditionally”, it attacked the organisations that had taken the matter to the court and questioned their motives.
ANC spokesman Jackson Mthembu said contrary to the views of those who had brought the challenge, “we remain convinced that the extension of Chief Justice Sandile Ngcobo’s term of office… was both constitutional and within the ambit of the law”.
“It should also be said that this judgment does not imply any illegal action on the part of the president.
“We are, nonetheless, perplexed and totally astonished by those who brought this matter before the Constitutional Court, totally disregarding similar extensions of terms of previous chief justices.”
Mthembu said no one had launched any court challenges when the law was passed unanimously by both houses of Parliament in 2001 and was used in respect of esteemed former chief justices Arthur Chaskalson and Pius Langa.
The party said Chaskalson would have been discharged in 2001, after he would have served seven years, but continued to serve for a period of 12 years, adding he was 73 when he was discharged from active service, while Justice Langa continued to serve as the chief justice beyond the age of 70 years.
“There has been no problem with the law in the previous extensions, until it was used by President Jacob Zuma to extend the term of office of Chief Justice Ngcobo last month.”
The constitution, legal framework and precedents set explained Zuma’s actions, said Mthembu.
Meanwhile, the chairman of Parliament’s portfolio committee on justice and constitutional development, which had been processing an urgent amendment to Section 8 to allow for Justice Ngcobo to stay on until he withdrew, said the committee had noted the judgment “and trusts that it will assist us in amending such anomalies and possibly the constitution”.
Luwellyn Landers (ANC) said the committee would “sit down” and consider whether to continue the work on the Judges’ Remuneration and Conditions of Employment Amendment Bill.
He said there was a need to look at the now invalid Section 8(a) and other sections of the act “to clear up not only that act but possibly the constitution”.
The DA said it welcomed the direction given by the court, from which “it is quite clear that any purported extension of the term of office of any individual judge of the Constitutional Court would be unconstitutional, and that all judges should be treated equally”.
DA MP Debbie Schafer said although the party supported the extension of Justice Ngcobo’s term in principle, “we did not, and do not, do so under circumstances that are unconstitutional”.
“We reiterate that the fact that Judge Ngcobo felt so strongly about that principle that he withdrew his acceptance of the president’s offer, is commendable.”
The ACDP said the main reason for the finding was that this extension resulted in an unlawful distinction being made between the chief justice and other Constitutional Court judges. - Pretoria News Weekend
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Tunisia's exiled former president Zine El Abidine Ben Ali has been sentenced to 16 years in prison for corruption and property fraud.
|||Tunis - A court on Thursday sentenced Tunisia's exiled former leader Zine El Abidine Ben Ali to 16 years in prison for corruption and property fraud, in the latest sentence handed to the ex-president.
Ben Ali, who fled to Saudi Arabia last January after a popular revolt against his 23-year rule, has already been sentenced in his absence to a total of more than 50 years in two separate trials.
On Thursday, the court also handed down an eight-year prison sentence to Ben Ali's daughter and 16 years to his son-in-law Sakhr al-Materi over two separate cases.
One involved the fraudulent acquisition of a plot of land in an upscale Tunis district following the “personal intervention” of the former president. The other concerned the acquisition of a plot in the same neighbourhood initially intended to be a park but subsequently reclassified as building land, considerably boosting its value.
According to the indictment, the plots were acquired for 23 dinars per square metre, well below their real value of 350 dinars and then resold for 1 500 dinars per square metre.
“The evidence shows that the ex-president committed violations and abuses of power in the two transactions,” the prosecution said.
The three were also ordered to pay millions of euros in damages.
Hosni Beji, the lawyer for Nesrine and Al-Materi, said the prosecution had “cooked up” its case.
On July 4, a Tunis court sentenced Ben Ali to 15-and-a-half years in jail for possession of arms, drugs and archaeological artifacts - and fined him 54 000 euros.
And in June, Ben Ali and his wife Leila Trabelsi were sentenced to 35 years in prison and fined 45 million euros for misappropriating public funds after police found large sums of cash and jewellery in their palace.
Ben Ali denounced his first conviction as a “parody of justice” and a “political liquidation” in a statement.
He and his entourage face possible legal proceedings in around 180 other cases. - Sapa-AFP
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Three Norwegian football clubs played first leg matches in the third qualifying round for the Europa League on Thursday. Here are the results:
Source: http://www.norwaypost.no/football-handball/football-europa-league-25505.html
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Arsenal legend Thierry Henry has told Arsene Wenger's critics to lay off the Gunners manager.
|||London – Arsenal legend Thierry Henry has told Arsene Wenger's critics to lay off the Gunners manager.
Henry is regarded as one of Arsenal's all-time greats after helping them win a host of trophies – becoming the club's record goalscorer in the process – before joining Barcelona in 2007.
But the 33-year-old returns to his former club with New York Red Bulls in the Emirates Cup this weekend to find Wenger under fire after six years without silverware.
Wenger's failure to replicate the glory days of Henry, Patrick Vieira and company has drawn stinging criticism from fans and pundits, with the Frenchman's cautious approach in the transfer market also a source of frustration.
However, Henry – who is due to face Arsenal on Sunday – is adamant Wenger will get the Gunners back on track and he believes his compatriot should be able to rely on the support of Arsenal's board and fans.
“I know some people had a go at Arsene recently. The boss changed the face of the club and, for me, I would keep Arsene for life,” Henry said at a press conference on Friday.
“I know he got a bit of stick recently, but hopefully they can change that this year.
“Whichever team you play in, it is a team effort. In our time, we had a great time. It was not down to one, two, three, four, five, six or seven players. It is a team effort.”
Although Henry supports Wenger, he can understand the bitter disappointment of Gunners supporters, who last season had to endure another end-of-season collapse after once looking strong on all fronts.
“I am an Arsenal fan, I just want to see them winning. I am suffering because we didn't win anything for a very long time, but I hope that they can do well,” Henry said.
“You have got to stick with the guys even when they are not doing well. That is one of the most important things. Hopefully they can do it this year.”
Henry is enjoying life in America, having moved to the MLS in 2010, yet the former World Cup and European Championship winner admits he could be tempted to move into coaching at Arsenal when he eventually retires.
“I would like to. It's a big thing. I would love to be part of the club one day, but it's not up to me,” Henry said.
“Right now, I think I they are in the right hands and we know that.” – Sapa-AFP
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The Icelandic Young Social Democratic Party is in mourning following the tragic events of last Friday in Norway; Icelandic Young Social Democrats have attended the camp in Utoy on previous occasions and knew many of the victims and the survivors. Source: http://icelandreview.com/icelandreview/daily_news?cat_id=29314&ew_0_a_id=380579
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The JSE continued in the red at noon, still taking direction from the negative sentiment coming out of the indecision regarding the US debt ceiling.
|||The JSE continued in the red at noon, still taking direction from the negative sentiment coming out of the indecision regarding the US debt ceiling.
A local trader said the debt ceiling uncertainty still remained a driver of the markets into negative territory.
By 12:02 local time, the JSE all-share index was down 0.14%, with platinum miners shedding 0.67%, resources losing 0.32%, banks dropping 0.18%, financials down 0.17% and industrials dropping 0.03%. Gold miners were the single performers, taking 1.55%
The rand was bid at 6.74 to the dollar, from 6.70 at the JSE's close on Thursday. Gold was quoted at US$1,615.21 a troy ounce from US$1,608.34/oz at the JSE's previous close, while platinum was at $1,781.50/oz, from $1,790/oz previously.
European stocks slumped and the euro slid on Friday as sovereign debt fears gripped the market once again, after Moody's Investors Service placed Spain's "Aa2" rating on review for a possible downgrade and threatened to lower its ratings of four Spanish banks, including Banco Santander.
At local time, London's FTSE 100 was down 0.55%, and Paris's CAC-40 was 0.84% lower.
In Asia, markets ended mostly lower on Friday as the cancellation of the US House vote on the debt ceiling undermined investor confidence, with the Australian market falling to a 10-month low.
Japan's Nikkei Stock Average fell 0.7% and Hong Kong's Hang Seng Index was down 0.6%.
On the JSE, Anglo American (AGL) was off 1.91 rand at 325.49 rand, while BHP Billiton (BIL) slipped 80 cents to 252.95 rand. Sasol (SOL) lost 3.60 rand or 1.06% to 336.40 rand.
Earlier on Friday, Anglo reported a stellar set of results, with a 45% rise in group operating profit to US$6.0 billion for the six months to June, with US$5.9 billion from its core operations.
It reported underlying earnings of US$3.1 billion and underlying earnings per share of US$2.58 - up 40%. Profit attributable to shareholders was up 93% to US$4.0 billion and earnings before interest, tax, depreciation and amortisation (ebitda) was 31% higher at US$7.1 billion.
An interim dividend of US$0.28 per share was declared - 12% higher than a year ago.
Sasol said it expected headline earnings per share for the year to June to increase by between 22% and 32%, and earnings per share to increase by between 18% and 28%, compared with the prior year.
"In the update from the chief financial officer released on June 14, we stated that we were confident of achieving an overall solid operational performance and containing cost increases to within inflationary levels for the 2011 financial year. At the time the volatility and uncertainty of global markets, as well as any adjustments arising from our year end closure process, made it difficult to be more precise in our profit outlook statement."
Sasol said that profitability for the financial year to June 30 had, however, improved due to its sustained focus on factors within its control - such as enhancing operational efficiencies, delivering on our business improvement plans and strict cost management. In addition, robust global commodity prices had countered the impact of the strong rand.
Among gold shares, AngloGold Ashanti (ANG) was up 3.91 rand or 1.39% to 285.02 rand and Harmony (HAR) added 2.95 rand, or 3.24%, to 94.14 rand.
Impala Platinum (IMP) eased 46 cents to 174.79 rand, while Anglo American Platinum (AMS) shed 9.11 rand or 1.55% to 577.40 rand.
In the industrial sector, British American Tobacco (BTI) lost 1.35 rand to 311.10 rand.
Coal of Africa's (CZA) share price shed four cents to 8.18 rand. Earlier it announced that sales of export coal increased by 148% to 492,781 tonnes in the June quarter from 198,347 tonnes in the March quarter.
CoAl noted that additional rail capacity created by Transnet Freight Rail earlier in the year supported the significant increase of export sales through the Matola Terminal. The purchase of 42,774 tonnes of third party coal and the completion of the port expansion also contributed in the increase of export sales.
Sugar group Tongaat Hulett (TON) said in an update on its operations on Friday that it was continuing to make good progress in reaching its key objectives of utilising its installed milling capacity of about two million tons of sugar.
Its share price gained 1.50 rand or 1.63% to 93.53 rand. - I-Net Bridge
Source: http://www.iol.co.za/jse-still-in-red-on-us-debt-ceiling-1.1108628
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Three Norwegian football clubs played first leg matches in the third qualifying round for the Europa League on Thursday. Here are the results:
Source: http://www.norwaypost.no/football-handball/football-europa-league-25505.html
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The Board of Trustees (BOT) of the ruling Peoples Democratic Party (PDP) has constituted a seven-man committee to advise the party on what steps to take following the seeming collapse of the party?s internal zoning arrangement for key appointed and elective offices in the party and at the government levels. �
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Arsenal legend Thierry Henry says he won't be troubled by split loyalties when he faces Arsenal with the New York Red Bulls this weekend.
|||London – Thierry Henry won't be troubled by split loyalties when he faces Arsenal with the New York Red Bulls this weekend.
Henry says so much has changed since his time in north London that he'll have no problem playing for the Major League Soccer outfit against his old team in the two-day Emirates Cup preseason tournament.
The former France striker says he found it difficult to play for Barcelona against Arsenal in the Champions League last year but that things will be much easier this time because Sunday's match is a friendly.
And it helps that Arsenal only played at its Emirates Stadium for the last of his eight seasons with the club.
“I was injured a lot my last season at Arsenal, our first season at the new ground,” Henry said. “When I come back now, I recognize all the people of course: the chef, the groundsman, the guy on the door. But once I'm out on the pitch? Not really.
“All my memories are of Highbury. I know the move to the Emirates had to happen but Highbury will always be the place for me.”
Arsenal moved to the 60,000-seat Emirates Stadium from Highbury in 2006, seeking a bigger ground to boost revenue and compete more equally with the likes of Manchester United.
The new stadium was built on industrial land almost next door to Highbury, but the proximity didn't soften the blow of leaving for some -including Henry.
“I only played there for seven years,” Henry said in an interview with Arsenal Magazine. “What must leaving have been like for a guy who'd been watching Arsenal there for 40 or 50 years?
“I always felt I was untouchable, playing there. That perfect pitch, the fans close enough you could hear them and they could hear you.”
The Red Bulls play Arsenal a day after meeting Paris Saint-Germain on the tournament's opening day. Arsenal plays Boca Juniors on Saturday, with the Argentine side playing PSG the following day.
Henry only started 16 of 38 Premier League matches in his lone season in front of the Emirates Stadium crowd, so the Frenchman is still not completely familiar with the environment.
“When I came with Barcelona in the Champions League, I was on the bench and came on. It was a weird experience,” Henry said. “That was the worst possible draw for me. Obviously I had to play hard and try to help my team. But it was if I was playing against my brother. I had a job to do but, you know, you love your brother and you don't ever want to hurt your brother.
“This time, I think, will be completely different.”
After three seasons with Barcelona, Henry followed David Beckham in moving to the United States to play out his career in the MLS.
The 33-year-old Henry acknowledges that the standard is not quite as high as that he became accustomed to in a career that included two Champions League finals, two Premier League titles and two Spanish league championships.
“We're not La Liga. We're not the Premier League. But there are good players here,” Henry said. “Look at our stadium. Listen to the atmosphere in the stands. They get it. They're a real football crowd. And the league's coming up. There are teams who really try to play here.
“And then there are some games which are just a battle. That's the same in every league in the world.” – Sapa-AP
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The Sultan of Sokoto, Alhaji Muhammad Sa?ad Abubakar, has said that not all the crises in the North are caused by the Boko Haram sect. �
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An explosion killed a Kenyan policeman and wounded four civilians in the northeast of the country near the border with Somalia.
|||Nairobi - An explosion killed a Kenyan policeman and wounded four civilians on Wednesday in the northeast of the country near the border with Somalia, a police commander said.
It was unclear what caused the explosion at a border area in Mandera, one of Kenya's drought-ravaged regions.
“We have lost a police officer after an explosive along the border in Mandera, four other people have been taken to hospital with injuries,” the region's police chief Joseph Ole Serian said.
Somalia's Al Qaeda-affiliated Shebab rebels have made several cross border raids in the past.
The group has repeatedly threatened to attack Kenya for supporting the Western-backed Somali government. - Sapa-AFP
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Norwegian aluminum producer Hydro reports solid results for the second quarter, mainly due to higher pricer for aluminium, combined with higher volumes, according to the group. (Photo: Hydro CEO Svein Richard Brandtz�g)
Source: http://www.norwaypost.no/general-business/hydro-reports-strong-q2-result-25501.html
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All Norwegian political parties already report a considerable increase in membership during the days following the tragic acts of terrorism in Oslo and at Ut�ya last Friday.(Photo: Oslo Parliament Buildings)
Source: http://www.norwaypost.no/news/political-parties-report-growing-membership-25498.html
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Just before one o?clock this morning an earthquake measuring 3.2 on the Richter scale was centered under volcano Katla in M�rdalsj�kull.Source: http://icelandreview.com/icelandreview/daily_news?cat_id=29314&ew_0_a_id=380580
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Gold soared to a record high for the sixth time in two weeks and the dollar slumped to another record low against the Swiss franc as investors sought safety from a possible US debt default.
|||Gold soared to a record high for the sixth time in two weeks on Wednesday and the dollar slumped to another record low against the Swiss franc as investors sought safety from a possible US debt default.
Equities were weaker globally, particularly in Europe and Japan. Wall Street looked set to open flat to lower.
The cost of insuring US debt against a default in the next year hit a new all-time high.
Bitterly partisan wrangling in Washington over raising the US debt limit is unnerving investors, who are facing a scenario many thought to be inconceivable - the United States unable to pay its debts and being downgraded as a borrower.
Republican and Democratic leaders were scrambling to find common ground over deficit cuts with less than a week before the government hits its borrowing limit approved by Congress.
Analysts polled by Reuters expect the United States will probably lose its top-notch AAA credit rating from at least one major rating agency, believing the wrangling over the debt ceiling has already damaged the economy.
A Republican plan, which President Barack Obama was threatening to veto anyway, was sent back to the drawing board after it was found to cut less than advertised.
“Our base scenario is still that some sort of eleventh hour deal will be reached. However, there is always a risk that they do not come to a compromise. The impact would be formidable and the US economy may not be strong enough to take this,” said Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels.
The impasse has driven investors to seek safe havens for their money, most noticeably gold and the Swiss franc.
Spot gold rose as high as $1,625.24, before easing to around $1,619.
The dollar, meanwhile, fell to a fresh record low versus the Swiss franc , with the US currency under broad pressure.
It hit a three-month low against a basket of major currencies .
“(Markets) still believe there will be a positive resolution reached, but I suspect it's not going to be enough to satisfy the ratings agencies,” said Joseph Capurso, strategist at Commonwealth Bank in Sydney.
SHARES FALL
World shares as measured by MSCI were slightly weaker, with Europe and Japan providing most of the losses.
The FTSEurofirst 300 was down 0.4 percent for a year-to-date loss of just less than 5 percent. The region's shares have also been hit by worries over the euro zone debt crisis, where there are still strains despite a second Greek bailout plan.
Japan's Nikkei closed down half a percent.
Europe's ongoing pain over the debt in its peripheral economies was on display in bond markets.
Spanish and Italian government bond yields rose after German Finance Minister Wolfgang Schaeuble said Berlin was against a carte blanche for the euro zone's rescue fund to purchase bonds on the secondary market.
Schaeuble's remarks added to investor worries about whether a new Greek bailout plan agreed last week would be enough to stop the spread of contagion to bigger euro zone economies. - Reuters
Source: http://www.iol.co.za/washington-tips-investors-to-safety-1.1107071
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An independent Zimbabwean human rights group says police arrested 13 of its members who staged a protest outside a court.
|||An independent Zimbabwean human rights group says police arrested 13 of its members who staged a protest outside a court where allegations of police assaults and torture were to be raised.
Restoration of Human Rights representative Stendrick Zvorwadza says the 13 demonstrated with placards on Wednesday calling for impartiality by police and judicial officials accused of targeting opponents of President Robert Mugabe.
The High Court on Wednesday again postponed an appeal for bail by eight activists of the prime minister's former opposition group accused over the killing of a police inspector in May.
The suspects deny involvement and say they were assaulted and tortured in custody. The police officer died in a stoning incident outside a bar in western Harare. - Sapa-AP
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Air strikes in Sudan’s volatile Darfur region have prompted frightened villagers to flee their homes.
|||Khartoum - Air strikes in Sudan's war-torn Darfur region killed one civilian and prompted villagers to flee their homes, the joint African Union-United Nations peacekeeping force (UNAMID) said on Wednesday.
A UNAMID patrol sent to investigate reports of air strikes around the village of Abu Hamara, in South Darfur, confirmed that at least one civilian was killed and two were wounded in the attacks, which took place about two weeks ago, the mission said.
A number of villagers were reported to have fled their homes in the aftermath of the strikes.
A UNAMID spokesperson declined to say who carried out the attacks, but the Sudanese army is widely considered the only force in the region capable of doing so. Army sources were not immediately available for comment.
Following a relative lull in the eight-year conflict, there have been sporadic clashes since late last year between rebel groups and government forces, that have forced more than 70 000 people to flee their homes.
At least 300 000 people have been killed and 1.9 million people have fled their homes since the Darfur conflict erupted in 2003 between non-Arab rebels and the Arab-dominated Khartoum regime, the United Nations says.
The government puts the death toll at 10 000 and blames the ongoing lack of security on tribal conflict, minority armed forces and banditry. - Sapa-AFP
Source: http://www.iol.co.za/un-villagers-flee-air-strikes-in-darfur-1.1107152?cache=0%3Fpage%3D5
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All Norwegian political parties already report a considerable increase in membership during the days following the tragic acts of terrorism in Oslo and at Ut�ya last Friday.(Photo: Oslo Parliament Buildings)
Source: http://www.norwaypost.no/news/political-parties-report-growing-membership-25498.html
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Police have charged an unemployed truck driver with hacking into Australia's broadband network.
|||Canberra - Police have charged an unemployed truck driver with hacking into Australia's broadband network and potentially threatening part of the national infrastructure.
Police say the 25-year-old man from the rural town of Cowra will appear in court on Wednesday charged with hacking into one of the National Broadband Network's service providers. He cannot be publicly named until he appears in court.
Australian Federal Police Assistant Commissioner Neil Gaughan told Australian Broadcasting television the man had allegedly bypassed the Sydney-based provider's security system and could have collapsed the provider's system.
The provider is one of 12 contracted by the government-owned NBN, which is being rolled out at a cost of 36 billion Australian dollars ($39 billion). - Sapa-AP
Source: http://www.iol.co.za/truck-driver-hacks-into-broadband-network-1.1107055
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Atletico Madrid striker Sergio Aguero was on the brink of completing a transfer to Manchester City and was undergoing a medical at a local hospital.
|||London – Atletico Madrid striker Sergio Aguero was on the brink of completing a £38-million transfer to Manchester City on Wednesday and was undergoing a medical at a local hospital, reports said.
Sky Sports News showed footage of Aguero arriving at Manchester Airport before he was whisked away by City officials to complete the formalities of his move to the Premier League side.
Aguero, the 23-year-old son-in-law of Argentina legend Diego Maradona, is seen as the answer to City's problems in attack, where Carlos Tevez has reiterated his desire to leave the club.
British press reported on Wednesday that City had reached agreement with Atletico over Aguero following the intervention of club chairman Khaldoon al-Mubarak.
Aguero's transfer will be City's third signing of the summer following the arrival of Gael Clichy from Arsenal and Stefan Savic from Partizan Belgrade. – Sapa-AFP
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