S Africa celebrates 'mother of the nation' Winnie, after her death at 81

Agencies
April 3, 2018

Johannesburg, Apr 3: South Africa paid tribute to Winnie Mandela's "fighting spirit" today as plans were made to mark the life of the firebrand anti-apartheid campaigner and Nelson Mandela's former wife.

She died in a Johannesburg hospital at the age of 81 yesterday after suffering a long illness that failed to rob of her of the charisma and energy that defined her sometimes divisive character.

Mourners continued to gather at her Soweto home to honour the anti-apartheid fighter after President Cyril Ramaphosa confirmed that a memorial service would be held on April 11 and a full state funeral on April 14.

The outspoken leader of the opposition Economic Freedom Fighters (EFF) party Julius Malema, who became a confidante of Winnie Mandela in recent years, is expected to visit her modest two-storey red brick home today.

The EFF paid tribute to Winnie Mandela's "fighting spirit" following news of her death.

"She affirmed both the love and anger of black people; always committed to their right to defend their lives even (with) arms in the face of a deadly apartheid evil," the radical leftist party said in a statement.

The ruling African National Congress (ANC) party's Women's League, which Winnie Mandela once led, will stage a mass march to her home tomorrow.

The firebrand activist died in Johannesburg's Milpark hospital, her family said, adding that she had "fought valiantly against the Apartheid state" and that she was known "far and wide as the Mother of the Nation".

Winnie Mandela, who was married to Nelson Mandela for 38 years, played a high-profile role in the struggle to end white-minority rule, but her place in history was stained by controversy and accusations of violence.

"She died after a long illness, for which she had been in and out of hospital since the start of the year. She succumbed peacefully in the early hours of yesterday afternoon surrounded by her family and loved ones," said her family in a statement.

After her death was announced, Ramaphosa described her as "a voice of defiance and resistance" who "was an abiding symbol of the desire of our people to be free".

"For many years, she bore the brunt of senseless brutality of the apartheid state with stoicism," he said.

"Despite the hardship she faced, she never doubted that the struggle for freedom and democracy would triumph and succeed."

Winnie Mandela often criticised the ANC, but she had expressed support for the current leadership of the party, which her husband led to power in the euphoric post-apartheid elections of 1994.

Last evening, Ramaphosa returned to her Soweto house as mourners gathered outside, singing struggle-era songs in tribute and praise.

"In African culture, we sing when we're hurt," ANC Women's League official Winnie Ngwenya, 64, told AFP.

Most of Winnie's marriage to Nelson was spent apart, with Nelson imprisoned for 27 years, leaving her to raise their two daughters alone and to keep alive his political dream under the repressive white-minority regime.

But her reputation came under damaging scrutiny in the twilight years of apartheid rule.

In 1986, she was widely linked to "necklacing", the burning alive of suspected traitors who had flaming, petrol-soaked tyres forced over their heads.

In 1990 the world watched when Nelson Mandela finally walked free from prison -- hand-in-hand with Winnie.

The following year, she was convicted of kidnapping and assault over the killing of Stompie Moeketsi, a 14-year-old boy.

In 1992, the Mandelas separated, and then divorced in 1996, after a legal wrangle that revealed she had an affair with a young bodyguard.

During her old age, she re-emerged as a respected elder who was feted as a living reminder of the late Mandela's legacy -- and of the long and celebrated struggle against apartheid.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 21,2020

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 11,2020

Apr 11: The number of global coronavirus deaths has increased to 102,753, while the total number of cases worldwide has surpassed 1.6 million, according to the latest update by the Washington-based Johns Hopkins University.

As of Saturday morning, the overall number of infections increased to 1,698,416, while the tally of those who recovered from the deadly disease stood at 376,677, according to the varsity's Center for Systems Science and Engineering (CSSE).

In terms of cases, the US had the highest in the world at 501,301, followed by Spain 158,273, Italy 147,577 and France 125,931.

Italy accounted for the highest death toll at 18,849, with the US in the second place with 18,769 fatalities.

Other countries with more than 10,000 deaths include Spain (16,081) and France (13,197).

Although the pandemic originated in China last December, it now only accounts for 3,343 deaths with 83,003 confirmed cases.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 2,2020

Washington, Apr 2: The total US death toll from the coronavirus pandemic topped 4,000 early Wednesday, more than double the number from three days earlier, according to a tally by Johns Hopkins University.

The number of deaths was 4,076 -- more than twice the 2,010 recorded late Saturday.

More than 40 percent of recorded deaths nationally were in New York state, the Johns Hopkins data showed.

On Tuesday the United States exceeded the number of deaths in China, where the pandemic emerged in December before spreading worldwide.

The number of confirmed US cases has reached 189,510, the most in the world, though Italy and Spain have recorded more fatalities.

After initially downplaying the threat from new coronavirus in the early stages of the US outbreak, President Donald Trump warned of "a very, very painful two weeks" to come for the country on Tuesday.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.