Economy

Indian shares slump as banks still reel under PNB fallout

Indian shares declined for a second straight session on Monday as state-run lenders fell further amid continued worries about the fallout from a $1.77 billion fraud reported by Punjab National Bank last week.

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ECB stops all ABLV Bank payments amid US corruption

The European Central Bank stopped all payments by Latvian lender ABLV Bank on Monday as its liquidity position has deteriorated after accusations by United States authorities of breaching sanctions against North Korea, it said on Monday.

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Asian shares extend global recovery, volatility subsides

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%, having recovered more than 40% of their losses from late last month to last week’s low.

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Izuzu Motors SA launches in Port Elizabeth

Investor confidence in South Africa has received a boost with the official launch of Isuzu Motors South Africa (IMSA) in Port Elizabeth, the trade and industry department (DTI) said on Sunday.

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Nestlé responds to reproving report

Nestlé is accusing the Changing Markets Foundation of inaccuracies in its report released last week which revealed that Nestlé is violating ethical marketing codes and manipulating customers in its baby milk range.

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SA's Clicks employees to share $110 million through BEE

Retailer Clicks said on Monday over 5 800 employees would share R1.3 billion ($110 million) as the first 50% payout under its broad-based black economic empowerment (BEE) scheme.

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Oil hits highest in Asian equity recovery

Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew over tensions in the Middle East.

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SA Chamber of Mines agrees to postpone court application

The Chamber of Mines in South Africa has agreed jointly with the mineral resources department to postpone its court application in respect of the reviewed mining charter.

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Asia markets edge up as investor sentiment calms

Asian stock markets edged up in thin holiday trade on Monday, with investors buoyed by gains on Wall Street despite ongoing concern about volatility.

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Tunisian Central Bank Chief promises "extraordinary measures"

Former World Bank Official and Economics Professor Marouane el Abassi were confirmed by Tunisia’s parliament as the new central bank governor on Thursday, promising “extraordinary measures” to lift the country’s economy.

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