July 20, 2012
From Creamer Media in Johannesburg, I’m Motshabi Hoaeane.

Making headlines:

The South African Reserve Bank cuts repo rate to a low of 5%.

Tribal clashes kill 58 in Sudan's Darfur region.

And, the UN Security Council fails to adopt a Syria resolution vote.

South Africa's Reserve Bank unexpectedly cut its repo rate by 50 basis points to a record low of 5 percent on Thursday. It cites a weak outlook for Africa's biggest economy against inflation that is likely to stay within target for an extended period.

In line with the Treasury's forecast, the bank said the domestic economy appeared to be slowing further, resulting in a cut in its 2012 growth forecast to 2.7 percent, from the previous 2.9 percent seen in May.

Reserve Bank Governor Gill Marcus said that given the possibility of a more widespread global downturn, the risks to this forecast are seen to be on the downside, with the external impact coming through trade links and commodity prices.

The Sudan News Agency has stated that clashes between two Arab tribes in Sudan's troubled Darfur region earlier this week killed 58 people and wounded 24.

The findings, given after a meeting of tribal leaders and government officials in East Darfur, say that the fighting involved the Misseriya and Rizeigat tribes and took place in the Jebara area at the border between East Darfur and South Kordofan state. They did not say what had started the violence.

Tribes in Darfur, often clash over land or water rights.

Darfur is the scene of a rebellion by non-Arab tribes against the Arab government in Khartoum, which is accused of political and economic marginalisation.

Despite the appeals for united and concerted action to help end the escalating violence in Syria, the UN Security Council has failed to adopt a resolution that would have threatened sanctions on Damascus. This is owing to the negative votes of permanent members Russia and China.

Eleven of the Council’s 15 members voted in favour of the resolution, while two others – Pakistan and South Africa – abstained. A veto by any one of the Council’s five permanent members means a resolution can’t be adopted.

The UN estimates that more than 10 000 people, mostly civilians, have been killed in Syria and tens of thousands displaced since the uprising against President Bashar al-Assad began some 16 months ago.

Also making headlines:

Eskom will finalise its tariff application to the National Energy Regulator of South Africa by August.

South African State-owned defence industrial group Denel, is in line for more financial assistance, despite making a profit of 41-million-rands.

And, Former Police Commissioner Jackie Selebi is released on parole.

That’s a roundup of news making headlines today.