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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
Washington - The $700bn US financial bailout package is "not a panacea" to cure economic woes, US Treasury Secretary Henry Paulson told lawmakers Tuesday, amid growing calls for help for other sectors.
"The crisis in our financial system had already spilled over into our economy and hurt it. It will take a while to get lending going and repair our financial system, which is essential to an economic recovery," Paulson said at a hearing of the House of Representatives Financial Services Committee.
Paulson, Federal Reserve chairperson Ben Bernanke and Federal Deposit Insurance Corporation chairperson Sheila Bair were called to testify before the House panel about the $700bn Troubled Asset Relief Programme (Tarp) authorised by Congress last month to shore up the financial system.