Wednesday, December 2, 2009
From Creamer Media in Johannesburg, I'm Sheila Barradas.
Making headlines:
There have been mixed reactions to State-owned power utility Eskom's proposed 35% tariff increase each year for the next three years, down from the previous proposed increase of 45%.
Opposition parties rejected the proposed increase, saying that it does little to "dampen concerns" about the effects of inflation. Democratic Alliance Member of Parliament Manie van Dyk said that the increase will have a profound effect on South African consumers and businesses. Business Unity South Africa said that a new business model is needed for Eskom to promote competition and encourage alternative suppliers of electricity in a restructured electricity market.
The Department of Public Enterprises welcomed the revised application, saying that Eskom had to ensure that the impact of the increase on the poor, and small and medium-sized enterprises would be mitigated. The National Energy Regulator will have to take into account South Africa's future electricity supply requirements, as well as the need to ensure that Eskom is financially sustainable and operationally efficient.

The US sparred with large emerging economies yesterday over the fate of a long-delayed deal to open global trade that critics say has become largely irrelevant in light of the financial crisis.
After Brazil's Foreign Minister, Celso Amorim, told a World Trade Organisation (WTO) ministerial conference that developing countries would offer no more compromises to clinch a Doha Round deal, US Trade Representative Ron Kirk called on the WTO's 153 members to get "out of their comfort zones".
Kirk stressed that while Washington was not seeking further concessions from the world's poorest countries, emerging powers need to open markets more to make the new global trade pact worthwhile.
South African Trade and Industry Minister Rob Davies questioned whether the 2010 goal for a firm deal could be met, as the outstanding issues are concerned with the substance of the deal. Davies added that South Africa is willing to wait longer if necessary for a development-oriented agreement.

Zulu King Goodwill Zwelithini and millions of Zulus will find out on Friday morning whether the Ukweshwama ceremony, which includes the slaughtering of a bull with bare hands in thanks for the first crops of the season, will go ahead on Saturday as planned.
The judgment on the application brought by the Animal Rights Africa (ARA) was reserved until Friday by the Pietermaritzburg High Court. The ARA took the Zulu king, KwaZulu-Natal Premier Zweli Mkhize and three government departments to court, arguing that the manner in which bulls were killed during the ritual was cruel.
Judge Nic van der Reyden said that it is difficult for him to rule on the matter, as the bull killing ritual goes to the heart of Zulu tradition and needs to be considered in a proper context. He added that it would be suitable for Parliament to deal with the matter if evidence is found that the bull is killed in a cruel manner.

Also making headlines:
Gabon eyes a forest deal to recapitalise carbon credits and boost State coffers as oil production decreases.
South African's political climate is expected to influence the currency market as the ruling alliance makes it obvious that it would prefer a weaker rand.
Namibia's ruling South West People's Organisation moves closer to a two-thirds majority election victory.
And, the World Trade Organisation is urged to spin off a fishing pact in advance of the Doha Round to protect the oceans.
That's a roundup of news making headlines today.