Índex per 2022-11-28 a Mercury

The behaviour of the global bond market over the past 11 months is testament to the reality that bonds are not risk-free. Quantitative easing by central banks initially caused unpre- cedented windfalls that gave savers a false sense of financial wellbeing. The normalisation of monetary policies and upshot in inflation as a result of supply chain disruptions due to the ripple effects of Covid-19 and the Ukraine/Russia conflict saw the global yield curve, depicted by 10-year government bond yields and corresponding sovereign credit ratings, increase by more than 250 basis points (2.5%) at the high in mid-October since the end of last year. The pain caused by the shift in the yield curve was excruciating for investors, specifically retirees and contributors to retirement savings plans as the capital loss at…

THE Durban Hilton hotel is to reopen its doors for business after it closed down almost two years ago due to dwindling tourist figures and the negative impact of the Covid-19 pandemic. EThekwini mayor Mxolisi Kaunda revealed during an executive committee meeting that, “the Hilton hotel is in the process of reopening after a long closure”. An official from the EMEA Communications, speaking on behalf of the hotel, said: “I can confirm that Hilton Durban remains temporarily closed. We look forward to welcoming guests back to Hilton Durban in the future and will provide updates on the reopening timeline as soon as this is confirmed.” The chief executive of the Inkosi Albert Luthuli Conversion Centre (ICC), Lindiwe Rakharebe, said they were engaging with the Hilton, adding that work inside the…

THE Standing Committee on Public Accounts (Scopa) has given the Zulu Royal Household Trust an ultimatum to provide a detailed report on what has been done to deal with irregular and fruitless expenditure totalling R28.08 million. Scopa also demanded to know what action had been taken against officials who were responsible for the transgressions. The call was made in a report presented before the KwaZulu-Natal legislature last week, which also called for the officials to provide details of all assets that fall under the entity for verification. According to the report, of the 6 987 assets which were under investigation in the trust, only 1 142 have been verified. The committee said the report, which should be delivered by January 31 next year, should include among other details: Progress made…

PROFESSOR Jonathan Jansen, in his most recent column in another newspaper, sees our Constitution not as just an idea but a biblical testament, and our judges as prophets – both of which very evil minds seek to destroy. Three seismic judgments handed down this week – two by the Supreme Court of Appeal and one by the Constitutional Court – support his thesis. For a change, we have the only arm of government, albeit an unelected judiciary, that works. Even though he is reviled by most South Africans, the Constitutional Court upheld the principle of legality by ruling that Janusz Walus, who killed Struggle hero Chris Hani, should be released on parole after 28 years in prison. What it showed, opines the professor, is that our justice system works. In…

THEY take beards and moustaches seriously in the town of Casper, Wyoming, in the US. Enthusiasts claim a new world record for the longest “beard chain”, according to Associated Press. Participants gathered at Gaslight Social, a bar in Casper, where they stood side by side and clipped their beards together to create a hairy chain that was measured at 46m long. That’s more than double the Guinness World Record of 18m, set in Germany in 2007. The event occurred on the sidelines of the National Beard and Moustache Championships, which took place in the Ford Wyoming Centre. There are four main categories for the Championships – moustaches, partial beards, full beards and craft beards. Sub-categories in moustaches include natural moustache, styled moustache, handlebar moustache, groomed moustache, English moustache and freestyle…

SOUTH African children under the age 17 are suffering from mental illness and neglect, mostly attributed to exposure to domestic violence and overprotection. According to South African Society of Psychiatrist (Sasop), the problem has become one of the most hazardous effects on children and could end up affecting the child’s sense of self. Due to mental illness, children are likely to bear invisible scars that limit their chances of a fulfilling and functional adult life, according to the organisation. Sasop said survivors of domestic violence may take longer to recover from emotional abuse than from physical abuse. Spokesperson Dr Eugene Allers said: “It relates to the development of self-esteem, obviously that is developed through achievement or praise for what is achieved.” He said children needed to be rewarded for their…

THE successful royal sabbath and umgidi ceremony held at the Enyokeni Royal Palace in northern KwaZulu-Natal this past weekend, will go a long way to underlining the historic ties between the Zulu Royal family and the Nazareth Baptist Church, royal household spokesperson Prince Thulani Zulu said yesterday. Speaking on the sidelines of the two-day gathering which was attended by King Misuzulu kaZwelithini, Nazareth church leader Mduduzi Unyazilwezulu Shembe and ANC presidential hopeful Dr Zweli Mkhize, the royal household spokesperson said it was satisfied at how the ceremony had proceeded. Aside from leading public figures, which included politicians and businesspeople, the gathering also drew thousands of worshippers of one of the largest churches on the African continent. While King Misuzulu attended the gathering on Saturday, he was not present to observe…

ANC Presidential hopeful and former health minister Dr Zweli Mkhize on Saturday told the Nazareth Baptist Church, popularly known as the Shembe church, that the country was faced with immediate issues, including load shedding, that needed to be resolved. The church, whose membership is about 5 million, hosted its annual prayer at eNyokeni Royal Palace in Nongoma at the weekend. The traditional African church’s leader, Prophet Mduduzi “uNyazilwezulu” Shembe of Ebuhleni, and King Misuzulu KaZwelithini were at the prayer. Last week the head of the ANC electoral committee, former president Kgalema Motlanthe announced that incumbent President Cyril Ramaphosa and Mkhize will contest the position of party president at next month’s elective conference. Mkhize, speaking at the 9th Royal Sabbath and uMgidi ceremony of the Shembe church, told the thousands of…

EDUCATION and the use of technology to promote small to medium business enterprises throughout the continent were among the buzzwords at the Africa Tech Festival, which took place in Cape Town earlier this month. But schoolchildren and small-to-medium business entrepreneurs were missing at AfricaCom, the continent’s largest technology conference. This was a pity as the continent’s premier tech gathering, which attracted about 25 000 delegates over the week, heard about how technology would lift Africa out of poverty and shift the narrative on the continent. One hopes that schoolchildren and small business operators get the message about the wonders of a more inclusive digital Africa. The plethora of inspiring speakers or announcements of the discovery of new tech and telecoms innovation spoke to how much these new fads can…

tehran: An Iranian bank manager who served an unveiled woman has been fired, local media reported yesterday, as demonstrations triggered by the mandatory head covering rule shake the Islamic republic. Women in the country of more than 80 million people are required to cover their heads, necks and hair, a law enforced by the morality police. The September 16 death in morality police custody of Mahsa Amini, 22, for allegedly breaching the dress code rules, sparked nationwide protests. The bank manager in Qom province, near the capital Tehran, “had provided bank services on Thursday to an unveiled woman”. As a result he was “removed from his position by order of the governor. | AFP…

Supporters of Mexican President Andres Manuel Lopez Obrador are expected to flood the streets of Mexico City in a major show of political strength by the left-wing populist. The rally comes as presidential hopefuls, including Lopez Obrador’s allies, warm up for the race to replace him in 2024. Two weeks after tens of thousands joined an opposition protest against his proposed electoral reform, Lopez Obrador plans to lead a pro-government march through the heart of the capital. The aim is to celebrate the government’s “transformation of Mexico” four years into his six-year term, Lopez Obrador told reporters. | AFP…

The death toll from a twin school shooting in Brazil rose to four on Saturday after a teacher wounded in the attack by a shooter, 16, wearing Nazi symbols died of her injuries. Authorities in the city of Aracruz, in Espirito Santo state, had said some of the 10 wounded, including three teachers and a student, were in serious condition after the attack that shocked the country, which has seen a rise in school shootings in recent years. State Governor Renato Casagrande tweeted: “With deep regret we confirm the death of teacher Flavia Amboss Mercon”, and declared three days of mourning in Espirito Santo. The shooter was a former student at the public school he targeted first, where he fired on a group of teachers, killing two people and wounding…

KAMPALA: Uganda’s President Yoweri Museveni has extended a quarantine placed on two districts that are the epicentre of the country’s Ebola outbreak by 21 days, adding that his government’s response to the disease was succeeding. Movement into and out of Mubende and Kassanda districts in central Uganda will be restricted up to December 17. The extension was implemented yesterday “to further sustain the gains in control of Ebola that we have made, and to protect the rest of the country from continued exposure,” the presidency said. | Reuters…

Costa Rica put a huge dent in Japan’s hopes of reaching the World Cup last 16 as they recovered from their 7-0 hammering by Spain to claim a surprise 1-0 victory in Group E yesterday. The door was wide open for Japan to seal their place in the knockout round after their historic opening win over Germany. But Keysher Fuller’s curling 81st-minute effort, Costa Rica’s first shot on target in the entire tournament, rocked Japan and put their hopes of progression in peril. When Fuller’s left-footer crept into the top of the net despite Japan’s goalkeeper Shuichi Gonda’s doomed attempt to keep it out, Costa Rica’s players and fans were in delirium. There may also have been cheers of relief in the Germany camp because if Japan had won, Germany…

ETHEKWINI Municipality plans to attract R200 billion in investment and create 200 000 jobs over the next five years. Speaking at an event to celebrate the 170th birthday of The Mercury and the relaunch of its business supplement, KZN Network on Friday, Mayor Mxolisi Kaunda detailed projects that could give the city a much needed economic boost in light of the difficult economic conditions. He said that initial forecasts by economic advisory services IHS Markit have placed Durban’s GDP growth rate at 1.1% in 2023, slowing down from 1.6% in 2022. Kaunda said: “However, the City expects this forecast to be revised even further down due to continued load shedding, consumer pressure from increased inflation and interest rate hikes, and the impact of infrastructure challenges. “Nonetheless, over 80% of what…

When is hate speech not regarded as hate speech? I believe that portions of the provocative article by EFF politician Dr Wandile Kasile (The Mercury, November 25) tick all of the boxes. I suggest senior members of the NPA study it. Let’s look at just one or two excerpts from it: “It was the assassination (of SACP leader Chris Hani) that gravitated the country closer to the brink of civil war, a war that could have ended all wars had it happened. The battlefield was set and the enemy knew they had touched the people where it mattered most. From the side of the people, all that was required was a war call from the leadership to avenge the merciless killing of our leader. But Nelson Mandela stood on national…

SO I wanted to retrieve my Covid-19 vaccination certificates in preparation for a trip overseas. It is still a requirement by some fussy countries. Now where do I begin? Masks have virtually vanished, sanitiser evaporated, most officials have forgotten how to spell “vaccine”. To add to my woes, it was a non-working day. So I type and ask Mr Google for help. “How to get my Covid-19 certificate in South Africa?” (Note: I even forgot to add “please”!) Mr Google most politely gives a toll-free number. Against a million to one chances, I expected to hear the recorded message: “You have called outside of office hours...” or even worse: “his number does not exist”. But the response of the sweetest voice in the world makes me realise there’s a…

“Thank you for your words to live by. I’ve actually realised one of my major problems in life has come from wanting to control things that can’t be controlled. Especially when I’m feeling judged, which is often, and that is another thing I’m working on.” Your insights about trying to control things that cannot be controlled will be revolutionary and transformational in your life if you’re able to release such desires and do so successfully. I’d suggest you break the future into smaller portions of hours and half-days and then weeks at a time until you forge your way into new ways of thinking and behaving. The smaller portions of time will help to reduce your anxiety. Anxiety brings with it a primal and reactive urge to control people and…

AT LEAST 149 ongoing disease outbreaks and health emergencies were ongoing in Africa due to humanitarian crises in the region. This was reported by the World Health Organization Africa (WHO) at the weekend. Over the past month, six new outbreaks were reported, including measles in South Africa and cholera in Kenya. WHO Africa and its partners said they were supporting governments to respond to 128 disease outbreaks. The organisation was also supporting responses to 21 humanitarian crises triggered by conflict and/or natural disasters. In the past month, nine outbreaks were controlled and declared over. These include influenza A in Kenya and anthrax in Sierra Leone. In the Democratic Republic of the Congo (DRC), cholera continued to plague communities. “More than 14 African countries have reported cholera cases since January. In…

DURBAN businessman and restaurateur David Manal has cleared the confusion about the newly opened Zuma restaurant at the Pearls of uMhlanga, north of Durban. Manal said former president Jacob Zuma had nothing to do with the restaurant, but had been invited as a guest to its official opening. This comes after reports on social media alleged Zuma had opened a new restaurant, called “Zuma”. The Saudi businessman, who relocated to South Africa in 2000 and owns multiple restaurants in Durban, said he was the owner of the restaurant where Zuma and his former financial adviser Schabir Shaik were spotted enjoying themselves. Manal said the name Zuma meant “peace” in Arabic, adding there were several restaurants in London, Miami and New York called “Zuma”. Naming his restaurant Zuma was a…

THE plan unveiled by KwaZulu-Natal Premier Nomusa Dube-Ncube to combat gender-based violence has received a mixed reaction from organisations fighting the scourge. The premier was speaking at the launch of the 16 Days for No Violence Against Women and Children campaign in Umlazi last week. Dube-Ncube said in KZN the 16 Days campaign formed the centre of the government’s comprehensive 365 Days of Activism for No Violence Against Women and Children. “Our position is clear, no woman should be killed just because she is arguing with her partner or has decided she wants to leave the marriage or relationship. That women and girls are still seen as objects to be violated by some men is the reason the word has this focus today.” Dube-Ncube said that as part of the…

President faces hurdle of winning compromise in 2024 When Otto von Bismarck coined the adage in the late 19th century that “politics is the art of the possible, the attainable – the art of the next best”, little could he foresee how relevant it would be more than 150 years later and how many of today’s politicians, driven by hubris, misplaced ideology and ambition still fall foul of it by ignoring its core premise. Only in October, former UK prime minister Liz Truss was humiliatingly forced out of office after only 45 days, thinking that she could impose an unelected socio-economic agenda on the British people by ignoring constitutional convention and bypassing the parliamentary rules of the game. The latest politician to be tested by Bismarck’s quip is Malaysia’s very…

NEW DELHI: An octogenarian man burned himself to death in southern India in protest at what he called New Delhi’s attempts to impose nationwide usage of Hindi, a language mostly spoken in the north, police said yesterday. Language is an emotive issue in India where hundreds of languages and dialects are spoken, but English serves as the main official medium while state governments use regional languages. According to the most recent census in 2011, fewer than half of Indian citizens speak Hindi – just under 44%. But last month a group of parliamentarians headed by the powerful interior minister Amit Shah reportedly recommended making Hindi the national official language. | AFP…

North Korean leader Kim Jong-un said his country aimed to have the world’s most powerful nuclear force as he celebrated the launch of its newest intercontinental ballistic missile (ICBM) at a ceremony with his young daughter, state media reported yesterday. Kim also handed promotions to more than 100 officials and scientists for their work on the Hwasong-17 – dubbed the “monster missile” by analysts and believed to be capable of reaching the US mainland – just days after Pyongyang test-fired it in one of its most powerful launches yet. Hailing the new ICBM as “the world’s strongest strategic weapon”, Kim said North Korean scientists had made a “wonderful leap forward in the development of the technology of mounting nuclear warheads on ballistic missiles”, the official Korean Central News Agency (KCNA)…

Italian rescuers were searching for a dozen missing people on the southern island of Ischia yesterday after a landslide killed at least one person, as the government scheduled an emergency meeting. A wave of mud and debris swept through the small town of Casamicciola Terme early on Saturday morning, engulfing at least one house and sweeping cars down to the sea, emergency services said. Rescuers had recovered the body of a woman, 31, with media reporting 13 people had been injured. About a dozen people were still unaccounted for by early Saturday evening, said Claudio Palomba, prefect of Naples, of which the island is part. But some people who had earlier been reported missing had since been found safe, including one family with a newborn baby, he said. Prime Minister…

Irene Cara, a child actress who later belted out 1980s anthems of joyful creativity and freedom with the title songs for Fame and Flashdance, but then battled for royalties in a legal fight that sidetracked her career at its peak, died on Saturday at her home in Largo, Florida. She was 63. A statement from her publicist, Judith A Moose, said the cause of Cara’s death was not immediately known. The Pinellas County Sheriff’s Office confirmed it responded to a call to an address in Largo, which is listed in public records as Cara’s residence. Cara’s imprint on pop culture has lived on through the decades as Fame (1980) and Flashdance (1983) became touchstones for the 1980s with their music and style, including the urban chic of New York teens…

Richarlison has always had a flair for the dramatic and the Brazil striker is relishing his chance to seize the World Cup spotlight after being reduced to a supporting role at Tottenham. After starting his Tottenham career this season stuck in Harry Kane's shadow, the flamboyant Richarlison has grabbed his opportunity to be the centre of attention on the global stage in Qatar. With Brazil battling to break down stubborn Serbia, Richarlison scored twice after half-time as the World Cup title favourites opened their campaign with a 2-0 win on Thursday. It was the 25-year-old's balletic second goal - an agile scissor-kick launched with Richarlison parallel to the ground - that suggested he is ready to emerge as one of the World Cup's leading lights. Richarlison's moment of magic against…

IN YET another vicious dog attack, a 37-year-old woman from Port Alfred in the Eastern Cape was mauled to death while on her way to work at the weekend. Police spokesperson Priscilla Naidu said two men witnessed the attack at about 7.45am yesterday, and ran to a nearby security official to report the incident. “The security official contacted the police. However, when police arrived, the badly injured woman was lying on the side of the road. The woman sustained serious injuries to her face and upper body. The dogs were nowhere to be found. She died prior to receiving any medical attention,” said Naidu. An inquest docket was opened for investigation. According to Naidu, the local Port Alfred detectives were searching for the owner of the dogs. The breed of…

A CO-ORDINATED balance between population growth and the growth of the employment creation economy is an essential element to maintain “full employment”. If population growth is steadily higher than employment opportunity growth, the inevitable result will be an increase in unemployment. It is also generally an international trend that the rate of population growth is lower in highly industrialised communities and also in urban communities. Conversely, the rate is higher in rural and in poorer communities. That is why the rate of population growth in the more industrialised Northern Hemisphere is now almost static, whereas in Africa it is still very high. It is often said that families tend to be smaller because of the high cost of living, but it is also true that the cost of high living…

THE men’s Fifa football World Cup in Qatar is under way to much controversy. Although I do not really follow sports, the many uproars spinning around this year’s World Cup caught my attention. Many of the analysts and critics have taken up different issues, such as the alcohol ban, working conditions and criminalisation of same-sex relationships, among other grumbles. While being critical of various matters, these same critics enjoy the entertainment, luxuries, non-essentials and treats made possible by host countries and their workers. Even though international sporting events like the Fifa World Cup offer an opportunity to sports enthusiasts a chance to enjoy sports, they also provide a chance to draw attention to the waste of resources that these mega sporting events have on economies, lives of the working…

A Grade 12 pupil from Leagathoko Secondary School in Limpopo, allegedly drowned after skipping extra class lessons and instead going swimming. MEC for Education in Limpopo Mavhungu Lerule-Ramakhanya said they were disturbed by the incident. Lerule-Ramakhanya urged pupils to stay away from overflowing rivers. It is alleged that a male pupil did not attend extra lessons with his classmates as expected, but instead went swimming in the Olifants River with his friends. The incident occurred on Thursday. “The search for the body by police divers is currently under way,” said the department. The department said it was working with the police on the matter and the circumstances of how the pupils left the school premises would be probed. | Mercury Correspondent…

MORE post offices will now be able to renew annual vehicle discs for motorists after the government parastatal announced that 21 of its branches in five districts would provide the service. KZN Post Office spokesperson Nobuhle Njapha said they partnered with the Department of Transport to open more branches. People can download the form online from the post office website, she said, describing the process as quick and convenient. “Because many of our branches are closer to the community where sometimes the government cannot reach, we reach those places. “We want our customers to save time by downloading the form online and filling it in before visiting the branch.” Njapha said they did not include all their branches in the province, saying they targeted areas where many cars were registered.…

EZEMVELO KZN Wildlife has hit back at the former public protector Thuli Madonsela after claims made in an open letter that she penned based on challenges faced by Hluhluwe-Imfolozi Park and surrounding communities in the north of the province. In the letter published last week, Madonsela urged President Cyril Ramaphosa to intervene in the state of affairs at the Hluhluwe-Imfolozi Park, and reassured the people living around the reserve “that it was not only the Constitutional Court which believed that our democracy was founded on ubuntu, your government equally believed so”. Madonsela said she discovered an email she missed that was sent to her on July 15. She said it contained a desperate plea from human rights and environmental activist Alan Sara specifically referencing the “perennial decimation of people’s livestock…

THE independent panel of experts is expected to release the eagerly anticipated report to Parliament on Thursday on whether President Cyril Ramaphosa has a case to answer regarding the Phala Phala farm scandal. The panel was formed after the ATM submitted a motion of no confidence against Ramaphosa. National Assembly Speaker Nosiviwe Mapisa-Nqakula appointed former Chief Justice Sandile Ngcobo, former head of the Gauteng High Court Division, Judge Thokozile Masipa and advocate Mahlape Sello to the panel. The panel was given until November 17 to submit its report but Mapisa-Nqakula extended the deadline to November 30 following a letter by Chief Justice Ngcobo requesting more time due to the amount of work still to be done. ATM president Vuyo Zungula said based on the evidence they submitted and the legislation…

THE government’s failure to be part, let alone lead the debate on the mounting calls for a ban on pit bulls as domestic animals, is one of the factors that left a vacuum for racists to thrive. There is absolutely no reason why the government through the Minister of Rural Development and Land Reform, Thoko Didiza, has not thoroughly and effectively communicated its stance on this raging debate. At least tell South Africans what the government’s intentions are, when citizens, especially parents, are confronted with a situation where children are killed by these dogs almost daily. This has been a role largely left to under-resourced animal welfare organisations to champion, further exposing the government’s lack of appetite for taking the lead on matters that could divide the nation. Already some…

SINGAPORE: Thousands of cosplayers and anime fans flocked to the annual Anime Festival Asia (AFA) in Singapore at the weekend, held for the first time since the Covid pandemic began in 2020. The three-day convention celebrates all things Japanese pop culture. Anime, a sub-culture originating from Japan, has grown internationally in recent years, due to its vast online presence and supportive participants. AFA attracted 120 000 attendees the last time it was held in 2019. Festival director Shawn Chin said he expects the Singapore event to reach the same number, if not surpass it. “I was in constant online contact with people here,” said a featured Taiwanese cosplayer, Hiko. | Reuters…

The union representing UK firefighters said it was “sceptical” London Fire Brigade (LFB) leaders would implement reforms after an independent review concluded the service was institutionally misogynistic and racist. The LFB has promised a “zero tolerance approach to discrimination, harassment and bullying” and accepted around two dozen recommendations from the damning review led by former senior prosecutor Nazir Afzal. He discovered dozens of examples of racism, bullying and misogyny, including a female firefighter’s helmet being filled with urine and a black employee finding a noose above his locker. London Fire Commissioner Andy Roe apologised late Friday “for the harm caused”. | AFP…

The military has foiled a coup attempt in Sao Tome and Principe, the prime minister of the island nation off the western coast of Africa said in a video message. Four men, including the former president of the outgoing National Assembly, Delfim Neves, tried to attack army headquarters overnight, Prime Minister Patrice Trovoada said in a video message confirmed by the justice minister. He said Neves was one of several people arrested. A resident speaking to AFP anonymously by phone said she had heard “automatic and heavy weapons fire, as well as explosions, for two hours inside the army headquarters” in the nation’s capital. In the video message, authenticated and sent to AFP by the press office of Sao Tome’s prime minister, Trovoada is seen sitting at a desk saying…

SHANGHAI: Protests in China against heavy Covid-19 curbs spread to Shanghai yesterday, with demonstrators also gathering at one of Beijing’s most prestigious universities after a deadly fire sparked widespread anger. The wave of civil disobedience, which has included protests in Urumqi where the fire broke out as well as elsewhere in Beijing and in other cities, has reached unprecedented levels in mainland China since Xi Jinping assumed power a decade ago. In Shanghai, China’s most populous city, residents gathered on Saturday night at Wulumuqi Road – named after Urumqi – for a candlelight vigil that turned into a protest. As a large group of police looked on, the crowd held up blank sheets of paper – a protest symbol against censorship. Later on, they shouted, “lift lockdown in all of…

Cameroon and Serbia go into today's Group G match knowing that anything less than a victory could send them packing from the World Cup by the time Brazil and Switzerland play later in the day. Serbia are bottom of the group after losing 2-0 to pre-tournament favourites Brazil while Cameroon's 1-0 loss to Switzerland means the African side are still seeking their first victory in the World Cup since 2002. The match arguably gives both Cameroon and Serbia their best chances of opening their account in Qatar. But a loss for either team - combined with a draw between Brazil and Switzerland - would prematurely bring the curtains down on their campaign, with nothing to play for but pride in their final group game on Friday. Cameroonian Football Federation president…