Monday July 11, 2011

From Creamer Media in Johannesburg, I’m Brad Dubbelman

Making headlines:

The Department of Labour says it has helped contribute towards job creation through intense investment in the Public Investment Corporation (PIC) amounting to billions of rands. Speaking at a meeting of managers of the department from around the country, Labour Minister Mildred Oliphant said the department – through the Unemployment Insurance Fund and Compensation Fund – has invested billions in the PIC, helping the country meet its job creation targets. These funds are in turn invested by the PIC through an investment agreement in commercial and social responsibility projects carried out by Standard Bank, Eskom, Transnet and other parastatals involved in infrastructure projects that contribute to employment creation.

For thousands of southern Sudanese it was a night to stay out dancing to welcome the birth of their new nation. For people in the northern capital Khartoum it was a time of sadness mixed with defiance. South Sudan, where most follow Christian and traditional beliefs, became independent on Saturday after a January referendum agreed under a 2005 peace deal that ended decades of civil war with the Arab Muslim north. While the south rejoiced at finally getting its freedom from the dominant north, for people in Khartoum the secession brought not only the loss of a third of the territory and much of the country's oil resources but also a profound feeling of sadness.

Increasingly violent labour protests sweeping South Africa during its mid-year "strike season" are stoking worries about inflation and dealing blows to the long-term prospects of Africa's largest economy. Unions representing hundreds of thousands of workers in the mining, steel, chemical and petroleum sectors have walked off the job or are threatening to do so, demanding wage increases about triple the 4.6% inflation rate.
The strikes and threats, punctuated by sporadic assaults on non union members and management, are an annual event typically settled before September with generous wage deals that drive up costs for employers.
Average increases over the last few years have been about double inflation.

Also making headlines:
Chinese President Hu Jintao congratulated South Sudan on its independence, promising strong ties between the two countries as China seeks to retain its access to Sudanese oil supplies.
And, rebel fighters in western Libya faced sustained artillery and rocket bombardment by forces loyal to Colonel Muammar Gaddafi for the fifth straight day on Saturday.

That’s a roundup of new making headlines today.