Economy

SA central bank chief to head IMF steering committee

South Africa's central bank chief Lesetja Kganyago will take over as chair of the International Monetary Fund's policy advisory committee, the IMF announced Thursday.

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Japan cuts aid to Malawi

The Japanese government has cut aid it renders to Malawi, whose authorities have since pleaded with Tokyo to reverse the idea, saying instead, more financial assistance should be channeled towards the Economic and Social Development Programme.

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China economy's 2017 rebound

China's economy grew a forecast-beating 6.9% in 2017, picking up steam for the first time since 2010 despite its battles against a massive debt and polluting factories, official data showed Thursday.

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US firm feels the heat over Gupta ties

United States management consultancy firm, McKinsey, is among three international companies being accused of criminal breaches of company law over their ties to the controversial Gupta family.

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Naidoo resigns to focus on subsidiary: Steinhoff

Troubled retail group Steinhoff International Holdings N.V. said on Thursday Jayendra Naidoo had resigned as a member of its supervisory board in order to focus on his role as chairman of JSE-listed subsidiary Steinhoff Africa Retail Limited (STAR).

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McKinsey, KPMG, SAP charged by SA companies regulator

SA's Companies and Intellectual Property Commission (CIPC) has laid criminal charges against the local units of audit firm KPMG, management consultants McKinsey and software giant SAP SE.

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SA ruling party commits to renewing economy

South Africa's ruling African National Congress (ANC) has committed to renewing the country's economy. Deputy President Cyril Ramaphosa, who is also ANC President, says the governing party is taking active steps to renew South Africa and its economy.

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Regulatory fears hammer bitcoin below $10 000

Bitcoin fell as much as 20% on Wednesday, piercing below $10 000, while other crypto currencies took similar spills due to investor fears that regulators could clamp down on them in an effort to curb speculation.

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Dis-Chem embarks on strike action

Retail firm, Dis-Chem, said on Thursday that approximately 760 employees had gone on strike at its Midrand distribution centre and head office but trading and operations at its 131 stores were not affected in South Africa.

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DRC revises mining code for cobalt boom

As demand for batteries drives a surge in the price of cobalt, the Democratic Republic of Congo is gearing up to overhaul its mining regulations to harvest more profit from the coveted metal.

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