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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 topped $87 in Asian trade on Friday as new US Federal Reserve stimulus measures spurred investor appetite and dragged down the dollar, analysts said.
New York's main contract, light sweet crude for December, jumped 61 cents to $87.10 a barrel in the afternoon, its highest price since early May.
Brent North Sea crude for delivery in December gained 75 cents to $88.75, also breaching highs last seen on May 4.
Oil was rallying "thanks to increased investor risk appetite and the weaker US dollar," the Commonwealth Bank of Australia said in a report.
"The US Federal Reserve's announcement... that it will purchase $600bn of government bonds and roll over another $300bn boosted commodity market sentiment and supported prices across the board," it added.
The dollar tumbled on Thursday after the Fed announcement. The euro was trading at $1.4187 in afternoon Asian trade, down from $1.4213 late on Thursday.
The European currency had climbed to $1.4282 - its highest level since January 20 - on Thursday.
A weaker dollar makes dollar-priced crude more attractive to buyers using other currencies.