SOUTH AFRICA

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Global stocks hold near record highs after ECB decision

World stocks held just below this week's record high on Thursday while the euro was steady as investors bet the worst of the credit crisis is over and looked to the European Central Bank chief for clues on monetary policy.
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S.Africa unions back Zuma in ANC leadership race

South Africa's most powerful labor group endorsed Jacob Zuma as the next leader of the ruling African National Congress on Thursday, aiming to nudge him into the presidency and the country towards socialism.
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APEC leaders urge speedy Doha trade deal

Asia-Pacific leaders said on Sunday they saw real progress in world trade talks now underway in Geneva and pledged flexibility and the political will to forge a deal by the end of 2007.
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Abil makes $1.46 billion offer for Ellerines

South Africa's biggest mass-market lender, Abil, has made a firm offer to buy furniture retailer Ellerines in a 10.6 billion rand ($1.46 billion) all-share deal, the groups said on Wednesday.
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Gold hits six-week highs on firm demand

Gold hit a six-week high on Tuesday, helped by safe-haven buying and good physical demand, with investors awaiting the release of U.S. economic data that may change bullion's short-term direction.
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Zimbabwe parliament to mull nationalization plans

Zimbabwe's parliament meets for a new session on Tuesday that will consider two major pieces of legislation, one to give the president considerable sway in appointing a successor and another to nationalize foreign firms.
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Xstrata bids $1 billion for Eland Platinum

Miner Xstrata Plc announced a $1 billion offer for South Africa's Eland Platinum Holdings Ltd and met forecasts with a 47 percent rise in first-half net profit on Tuesday.
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BA hit with record fine for price-fixing

British Airways revealed the biggest fine in its history on Wednesday as it reached settlements with the U.S. and UK authorities for price fixing that could cost it up to 350 million pounds ($711 million).
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Barbed wire, bread greet desperate Zimbabwe migrants

These would-be-migrants are the unlucky ones among a growing tide of refugees escaping an economic crisis that has devastated Zimbabwe and threatens to engulf other nations in the region, principally South Africa.
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Capricorn signs telecommunications deal with M2

M2 Telecommunications Group Ltd. announced on Thursday that it has been chosen by sales intermediary Capricorn Society Ltd. to provide a full suite of telecommunications services the latter’s 10,000 member companies.
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Colgate warns of fake toothpaste in U.S.

Colgate-Palmolive Co. on Thursday said counterfeit 'Colgate' toothpaste that may contain a toxic chemical had been found in discount stores in four U.S. states.
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AFD Loans $50.1M to S. African Bank for Housing

The French Development Agency (AFD) signed a subsidized loan agreement on Wednesday with top South African bank, Nedbank, for $50.1 million (€40 million) to provide housing loans for low-income households.
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India Inc. to benefit from PM's visit to South Africa

Indian Prime Minister Dr. Manmohan Singh's three-day visit to South Africa is expected to benefit India Inc. as the two nations will sign a number of bilateral agreements aimed to strengthen economic and commercial relationships.
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Zimbabwe's External Debt Down 2.3 Pct.

Zimbabwe's Reserve Bank said on Monday its external debt has dropped by 2.3 percent following South Africa's contribution of $169 million last year to the International Monetary Fund.
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PM in South Africa to strengthen ties, discuss UN reforms

Indian Prime Minister Dr. Manmohan Singh who arrived in South Africa on Saturday, will, during his four-day visit, discuss major UN reforms with the South African President Thabo Mbeki, besides signing a number of bilateral agreements on a wide range of subjects including one on preferential trade, investment and energy cooperation.

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