Wednesday, September 15, 2010

From Creamer Media in Johannesburg, I'm Brindaveni Naidoo.

Making headlines:

South Africa's powerful Congress of South African Trade Unions (Cosatu) called on Tuesday for more exchange controls and a capital flow tax to ease unemployment, further fraying an alliance with the African National Congress (ANC) government amid mounting social unrest.
The leftist proposals by Cosatu will pile pressure on the ANC to prove that its proinvestor policies are worth pursuing, with an ANC policy meeting coming up next week and a Cosatu-ANC summit later this year.
Cosatu, which wants unions to have a greater say in policy formation, said last week that its traditional alliance with the ANC and the South African Communist Party faced paralysis and may even break up over policy differences. Upping the ante on Tuesday, Cosatu released an economic policy paper with proposals calling for a tax on short-term capital flows, a reversal of steps to relax currency controls and the nationalisation of some mines.

The number of people in the world suffering chronic hunger has declined for the first time in 15 years, owing to improving economic conditions and lower food prices, said the United Nations Food and Agriculture Organisation (FAO) in a new report. But the World Health Organisation warns that flooding in Pakistan and Russia's drought, threaten to spark a food crisis that could endanger the world's poorest people.
The FAO reports that about 925-million people are undernourished in 2010, down from a record 1,02-billion last year, which was the highest number in four decades. Despite the decline in chronic malnourishment reported by the FAO, food riots in Mozambique this month, protests in Egypt, rising grain prices owing to Russia's drought and climate change have pushed the issue of hunger and food security up the global agenda.
FAO director-general Jacques Diouf says that there are "obvious reasons for concern as markets remain nervous and therefore vulnerable to any sudden shock."

Economies should be careful not to withdraw the financial stimulus packages they implemented during the recession too soon, as this could potentially lead to a double dip in the world economy in 2011, the United Nations Conference on Trade and Development (Unctad) warns.
In its ‘Trade and Development Report 2010', released on Tuesday, Unctad highlighted that the global economic recovery remained fragile and uneven. The report says that global real gross domestic product (GDP) is expected to grow by 3,5% this year, with Asian and Latin American countries leading the recovery. Developing economies are forecast to grow their GDP by 6,9% in 2010, with Asian economies to grow their GDP by about 7,8%. However, Unctad globalisation and development strategies division representative Mutasim Elagraa says that there are indications that the global economy will see another slowdown in 2011.
South African Trade and Industry Minister Dr Rob Davies emphasises that the African continent could increase domestic demand through regional cooperation and ensuring growth in high-quality employment opportunities.

Also making headlines:

The National Assembly approves the Civilian Secretariat for Police Service Bill to reinforce civilian oversight over the South African Police Service.
Ugandan opposition parties and human rights groups plan to challenge a proposed law giving police the power to regulate public rallies, as they say it is designed to stifle dissent ahead of the 2011 elections.
South African Ministers refuse to respond to five calls for debate and four opposition statements on the subject of China, Tibet and the Dalai Lama in the National Assembly.
And, the US offers Sudan a package of new incentives if it resolves outstanding issues over Darfur and the upcoming vote on southern secession.

That's a roundup of news making headlines today.