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INTERNATIONAL

- The key June US unemployment report being released today is expected to show a decline in non-farm payrolls of 110,000 as many temporary workers are laid off following completion of the US census.

- Weekly new claims for US jobless benefits increased from 459,000 to 472,000 exceeding the consensus forecast 455,000.

- The US Institute of Supply Management (ISM) manufacturing index dropped more than expected in June to 56.2 from 59.7 in May and below the consensus forecast 59.0. A steep drop in the price component suggests the Fed may delay raising interest rates.

- Contracts for pending US home sales fell 30 % in May, twice the drop expected following expiry of a tax credit for 1st time buyers.

- After rising for 3 consecutive months the Conference Board’s US consumer confidence index fell significantly more than expected in June to 52.0 from 62.7 in May, attributed to uncertainty over the future state of the economy and the labour market.

- The S&P/ Case Shiller home price index unexpectedly increased 0.4 % in April against a 0.1 % consensus forecast decline and a downwardly revised 0.2 % decline in March.

- The yield on the 10-year US Treasury bond fell to 2.88 %, its lowest since April 2009, having been as high as 4 % as little as 8 weeks ago.

- The yield on the 2-year Treasury note fell below the equivalent German bund yield for the 1st time since March, coinciding with a strong 2 % euro appreciation against the US dollar on Thursday to $1.254. The rate was as low as $1.185 just 4 weeks ago.

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Article taken from Property 24

The City of Cape Town’s Property Management Department has drafted an extensive new policy on the management of its immovable assets, which is now open for public comment until 31 July 2010.

“I would like to remind Capetonians to please familiarise themselves with the new draft policy and take the time to participate by submitting useful comments before it is finalised,” said the City’s Mayoral Committee Member for Economic Development and Tourism, Alderman Felicity Purchase.

The new policy seeks to provide a practical framework for the management of the City’s immovable property. It is available in English, Xhosa and Afrikaans either online at http://www.capetown.gov.za/pmbylawandpolicy/Pages/default.aspx or at the City’s Sub-Council offices and public libraries.

Comment can be provided online; via e-mail to PMPolicy.PublicParticipation@capetown.gov.za; via fax on 021 419 5303; or by completing the response sheets available at all public libraries and sub-council offices.

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Thought of the Week published by STBB

Did you know that the insolvency of one spouse, even in a marriage out of community of property, can affect the status of the solvent spouse? In terms of Section 21(1) of the Insolvency Act the estate of the solvent spouse will also (initially) fall under the control of the Curator.


The deeds office will register an interdict against the personal details of the solvent spouse to the effect that the Curator will first have to confirm that the solvent spouse is free to deal with his or her own estate. This can be problematic where the solvent spouse wants to sell property or purchase property in cash.

The Berg River Canoe Marathon
is one of the hardest, and most grueling, canoe races
of the year.

It takes dedication and staying true to what you believe in, in order to complete the race, but above all, it is the absolute commitment and passion.

The 4 day event covers a distance of over 250km from Paarl all the way to Velddrif on the West Coast of South Afrca. It starts on Wednesday, 14 July 2010, till Saturday, 17 July 2010.

For more information on this event - please visit http://www.windhoekberg.co.za/

For accommodation in the Velddrif area please contact us at Topteam:
+27 (0) 22 783 2624