Business and finance
U.S. representatives at the International Monetary Fund and Congress itself had very little choice regarding the Chinese renmimbi (RMB) inclusion as new reserve currency. The IMF boarded agreed to make the yuan the newest addition to its currency basket, known … Read the rest
Global internet and media giant Naspers on Friday [JSE:NPN] announced a $1.2bn (R16bn) deal to become the largest shareholder in Avito, the leading online classifieds platform in Russia.
Naspers, which started investing in Avito in 2013, is now buying shares … Read the rest
Online gambling and online casinos are usually associated with European countries or the USA. This is interesting since the USA only recently approved its first remote gambling sites, plus this concept is not accepted in all of the US states. … Read the rest
Central banks around the world are selling U.S. government bonds at the fastest pace on record, the most dramatic shift in the $12.8 trillion Treasury market since the financial crisis.
Sales by China, Russia, Brazil and Taiwan are the latest … Read the rest
Disclosures from two of Asia’s largest lenders showed that British banks are among of the most vulnerable to the current market troubles in China.
In its latest report, HSBC said outstanding loans to China grew 12 percent in the past … Read the rest
South Africa’s second-largest steelmaker Evraz Highveld Steel and Vanadium confirmed on Monday that it had temporarily ceased steel production at its steelworks, citing working capital constraints and reduced domestic demand mainly owing to a “significant” increase in steel imports from … Read the rest
Apple Inc shares slumped nearly 7 percent in after-hours trading as its fourth-quarter revenue forecast fell short of estimates and it missed some targets for iPhone sales.
The shares dropped to $121 after the company released its results on Tuesday, … Read the rest
Johann Rupert, the South African who has made billions peddling Cartier jewelry and Chloe fashion, said tension between the rich and poor is set to escalate as robots and artificial intelligence fuel mass unemployment.
“We cannot have 0.1 percent of … Read the rest
The IMF is due to re-examine the composition of its currency basket for Special Drawing Rights, a foreign-exchange reserve asset for fund members, later this year says Zhao Yongsheng.
“Our assessment now is that the substantial real effective appreciation [of … Read the rest
Economic growth in the first quarter is expected to have slowed mainly due to the electricity supply constraints.
Most economists have projected that gross domestic product (GDP) will decline sharply from 4.1% to 1.4% quarter-on-quarter.
On Tuesday, Statistics South Africa … Read the rest
The rand was a touch softer against the dollar on Thursday, coming off the session’s highs after the central bank left rates unchanged despite a hawkish policy statement that had fuelled last minute expectations for a hike.
Governor Lesetja Kganyago … Read the rest
Russian Deputy Finance Minister Sergei Storchak spoke with Greek PM Alexis Tsipras today, proposed that Greece become 6th member of New Development Bank set up by Brazil, Russia, India, China, South Africa, a Greek govt official says in e-mail to … Read the rest
At this point of time, a barrel of oil costs $60, showing some signs of improvement from its previous value of below $50 back in March. Yet, full recovery of oil seems very unlikely, and people wonder whether fossil fuels … Read the rest