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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 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.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Singapore - Crude prices were higher in Asian trade on Wednesday as traders reacted to a forecast that global oil demand is set to grow and hopes of a Greek debt deal, analysts said.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in March, gained 43 cents to $98.84 a barrel and Brent North Sea crude for March delivery was up one cent to $116.24 in morning trade.
"Crude prices have made gains with the EIA forecast of a growth in oil consumption and hopes of a solution to Greek debt trouble," said Nick Trevethan, senior commodities strategist at ANZ Research.
"Brent crude however is being capped at the $116.50 range," he said.
In a report released on Tuesday, the United States Energy Information Administration forecast that worldwide fuel demand is set to accelerate over the next two years.
"EIA expects world markets to continue to gradually tighten in 2012 and 2013, as increases in global consumption outpace production growth," the report said.
Meanwhile, Greek officials are looking to wrap up weeks of negotiations to save the country from a historic default.