Thursday, May 14, 2009
From Creamer Media in Johannesburg, I'm Amy Witherden.
Making headlines:
Metropolitan Asset Managers stated yesterday that South Africa's gross domestic product for the first quarter of 2009 is likely to be worse than fourth quarter 2008 figures. This will confirm that the country is in a recession, says economist Jaanre Fourie.
Fourie was reacting to retail sales figures released by Statistics South Africa yesterday, which said that retail trade sales worsened further to -5,3% year-on-year in March.
These weak numbers are a clear indication that the slowdown in retail is not only limited to durable goods, but is becoming more widespread in the retail sector, said Fourie.
This does not bode well for economic growth for the rest of 2009, as household spending contributes more than 60% to South Africa's total GDP.

In other news, US Trade Representative Ron Kirk has urged big emerging countries like China, India, Brazil and South Africa to do more to open their markets in order to secure a new global trade deal.
Speaking after talks with US trade partners at the World Trade Organisation, Kirk said that both he and President Barack Obama are committed to reaching a deal in the WTO's long-running Doha round. In a clear message to the big emerging powers, Kirk said that a trade deal requires more than just participation by the US.
The Doha round of trade talks was launched in late 2001 to help poor countries prosper through open trade.

Back home, court papers have revealed that former President Thabo Mbeki did indeed try to delay the arrest of suspended police chief Jackie Selebi.
In an affidavit before the High Court in Pretoria, Mbeki said he had wanted the axed chief prosecutor, Vusi Pikoli, to allow him two weeks to prepare the country for Selebi's arrest for corruption, while Pikoli only allowed him one week.
Mbeki's affidavit joins those filed by former President Kgalema Motlanthe and former director-general in the Presidency, Frank Chikane.
Pikoli filed papers with the High Court in February after Parliament ratified Motlanthe's decision to dismiss him as national director of public prosecutions. Pikoli claims that he was suspended by Mbeki for ignoring political orders to halt a corruption case against Selebi.

Also making headlines:
Women's rights group Gender Links criticises Helen Zille and the African National Congress Youth League over political mud-slinging, as the ANC rebukes the Youth League for its comments.
The African Union infrastructure and energy commissioner, says that the continent needs investors to beat its energy crisis.
And, Zimbabwean Prime Minister Morgan Tsvangirai says that power-sharing issues threaten aid that would help the country's economy back onto its feet.

That's a roundup of news making headlines today.