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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - The South African government has signed a nuclear agreement
with Algeria, the energy department announced on Wednesday.
The agreement was
signed in Algiers between Energy Minister Dipuo Peters and her Algerian counterpart Chakib Khelil
on Wednesday, the department said in a statement.
Both countries had
agreed to co-operate in the peaceful use of nuclear energy.
Peters accompanied President Jacob Zuma on a
state visit to the north African country to discuss the deal.
"We believe
that the peaceful use of nuclear energy among the African countries is critical in contributing to the
decimation of energy poverty on our continent and will catapult our two
countries onto an even higher economic development," Peters said.
South Africa and
Algeria would also work together on "exchanges in the production of medical radioisotopes", which
would see the two trading staff and expertise.
"South Africa
has moved from being a pariah for its use of nuclear technology in furtherance of the objective of the
apartheid state, to a country that respects and conforms to all the international conventions on the peaceful use of nuclear
energy," Peters said.
"Accordingly,
we have become the leading producer and supplier of the much sought after medical radioisotopes which are
based on low-enriched uranium fuel."
Talks between Zuma
and Algerian President Abdelaziz Bouteflika ended on Wednesday with both countries pledging to establish "peace, stability and economic development" in
Africa.
Zuma used the
two-day visit to cement political and economic relations between the two countries, the presidency said in
a statement.
Apart from working
together on nuclear energy, the countries agreed to cooperate on issues related to sports and
recreation, and petroleum and gas, and in areas such as labour, water and
tourism.
However, both
stressed the need to strengthen the African Union's capacity for conflict prevention, management and resolution.
Zuma and Bouteflika
condemned the violation of human rights in African countries, particularly those in the Western Sahara
and called on the United Nations to assume its responsibilities
on the issue.
They also condemned
terrorism in all its forms and in all parts of the world and reiterated their support for AU and UN
resolutions making the payment of ransoms illegal.
Zuma congratulated
Algeria for qualifying for the 2010 World Cup and said the soccer event would benefit not only South
Africa, but Africa as a whole.
- Sapa