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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 - Oil rose in Asia on Tuesday as traders reacted to better than expected economic data from Japan, analysts said.
New York's main contract, West Texas Intermediate crude for delivery in March, gained 54 cents to $99.32 a barrel in morning trade.
Brent North Sea crude for March delivery was up 40c to $111.15.
"Oil prices are higher ... reacting largely to the positive Japanese economic data showing increased spending," said Ken Hasegawa, energy desk manager at Newedge brokerage in Japan.
Japan said Tuesday that household spending in the world's third largest economy rose for the first time since the devastating March 11 earthquake and tsunami.
Industrial output in Japan also rose 4.0% in December, exceeding market expectations of a 2.8% jump and a reversal from November's 2.7% dip.
The upbeat data showed a slight rebound in the Japanese economy, which was hit hard by the March disaster that left more than 19 000 people dead and missing, and triggered the Fukushima nuclear crisis.
Meanwhile, traders were closely watching the latest efforts by eurozone leaders to resolve Greece's debt woes.
Following a European Union summit that saw agreement on a new treaty to end deficits, EU president Herman Van Rompuy called for a new deal with Athens "by the end of the week" on a second bailout.