Top news items in major S. African media outlets

The following are highlights of South African major media outlets on Wednesday.

-- The global diamond market has bottomed out and is showing signs of stabilising after production cutbacks and price reductions last year coupled with 20 million U.S. dollars of extra in advertising spending in key markets, said De Beers CEO Philippe Mellier.

Speaking at the De Beers headquarters in London, Mellier said it was very difficult to predict the rough and polished diamond markets this year with continued uncertainty in the macro-economic climate as well as currency movements in volatile global markets. (Business Day)

-- The Economic Freedom Fighters has rallied behind its leader Julius Malema, saying that it has never lost a case against the ANC in a court of law.

The party has found itself in hot water ahead of its election manifesto launch in Orlando on Saturday after Malema told international broadcaster Al Jazeera in an interview that we "will run out of patience very soon and we will remove this government through the barrel of a gun". (City Press)

-- Employees working in companies belonging to the Gupta-owned Oakbay Investments knocked on the doors of three major South African banks on Tuesday in the Johannesburg CBD in a bid to prevent the closure of Oakbay accounts at these banks.

Wearing peak caps with ANN7 or Sahara written on them, between 200 and 300 employees headed to Absa, First National Bank and Standard Bank, fearing that the closure of Oakbay Investment accounts would stall their paychecks and put their lives on halt. (Mail & Guardian) Endit