Wednesday April 18, 2012

From Creamer Media in Johannesburg, I’m Brad Dubbelman

Making headlines:

The recent global financial crisis has shown that more State intervention is needed in the mining industry, Deputy President Kgalema Motlanthe said. For this reason, the government endorsed the African Exploration Mining and Finance Corporation (AEMFC), as the "nucleus" of a State-owned mining company. It was through the AEMFC that the State could consolidate its participation in mining and focus on ensuring the security of supply of minerals of strategic significance.

Arab League Ministers met UN-Arab special envoy Kofi Annan yesterday and pressed Syria to cooperate fully with his peace mission, first by providing unfettered access to ceasefire monitors. A six-day-old truce has held in some areas of Syria but fighting has persisted in others since President Bashar al-Assad pledged to honour it last week. A small UN observer mission went to the country this week to monitor the ceasefire. A statement issued after the Arab League meeting with Annan in Qatar said: "We request the Syrian government to help observers do their job and allow transport and the ability to reach all areas in Syria, and not to impose conditions on them that prevent them from doing their job."

Unsecured lending in South Africa is growing too fast, Reserve Bank deputy governor Lesetja Kganyago said, in the latest sign policy makers are worried about rising levels of borrowing by highly indebted households. Recent data has pointed to local banks increasingly giving out loans without security to consumers already struggling to pay their bills. On Monday, Finance Minister Pravin Gordhan also noted the significant growth in the loans, saying it would be a big worry if it was feeding solely into consumption as this would fuel inflation.

Also making headlines:

The UN Security Council discussed the possible imposition of sanctions on Sudan and South Sudan if the neighbors did not stop border clashes that were threatening to spiral into full-scale war.

And, an attempt by ANC Youth League president Julius Malema to have his temporary suspension set aside has been dismissed, the ANC's appeal body said yesterday.

That’s a roundup of news making headlines today.