Wednesday, September 23, 2009
From Creamer Media in Johannesburg, I'm Sheila Barradas.
Making headlines:
The Congress of South African Trade Unions (Cosatu) has called for the central bank to be stripped of many of its powers and taken into State ownership. Cosatu secretary-general Zwelinzima Vavi said at the Cosatu national conference, that the Reserve Bank is not neutral, thus the State itself and all constitutencies in society are sidelined.
Trade unions want more government spending, an end to inflation targeting by the central bank and a seat on the bank's board. The focus of the bank should not be on inflation, said Vavi, but on the "entire manner in which the country is moving, looking at the impact of [the bank's] policies on jobs, poverty, inequality, and the growth of the economy".
Speaking at an accountants association dinner last night, Reserve Bank Governor Tito Mboweni shrugged off the criticism, saying that the bank has "been able to provide monetary accommodation in these difficult times but no one is ever satisfied".

World leaders descended on New York as the United Nations (UN) held its summit on climate change yesterday, aimed at mobilising political will and strengthening momentum for a fair, effective, and ambitious climate deal in Copenhagen in December.
According to UN secretary-general Ban Ki-moon, the purpose of the summit is to "focus minds and generate urgent action at the highest political levels" in order to prevent climate change from slipping out of control. He added that climate change is the foremost threat to the global environment, economy and security.
Africa's negotiator at UN climate change talks, the Congo Republic's President Denis Sassou-Nguesso, said that he is encouraged by the message coming from industrialised countries at the summit. "Africa is not just asking for compensation," he said, "Africa is bringing a contribution to the solution of the problem of climate change".

The 2008/9 crime statistics released yesterday were cause for serious concern, say opposition parties. The statistics revealed significant increases in key areas including sexual offences, robberies, business and commercial crime, vehicle hijackings and stock theft.
Democratic Alliance police spokesperson Dianne Kohler Barnard said that it is now clear why Police Minister Nathi Mthethwa had not released these statistics before the elections. Inkatha Freedom Party police spokesperson Velaphi Ndlovu said that the statistics are more than indicators of failure, but evidence of a malaise that South Africa must not be allowed to succumb to. Independent Democrats spokesperson Joe Mcgluwa said that until [South Africa] deals convincingly with the massive inequalities and the crisis within the social fabric of society, crime will remain a huge problem." Freedom Front Plus police spokesperson Pieter Groenewald said that robberies at residential properties are "threatening the lives of the public and they are not safe in their own homes". United Democratic Movement chief whip Stanley Ntapane said that the "African National Congress government has systematically failed to address this horrific situation."

Also making headlines:
Reserve Bank Governor Tito Mboweni says that there are still risks to global economic recovery.
The Judicial Service Commission excludes Western Cape Judge President John Hlophe from its short list of candidates for the Constitutional Court.
And, the World Trade Organisaton sets up a work plan to conclude the Doha round of trade talks next year.
That's a roundup of news making headlines today.