It's all over the news…
“Why SA is on the verge of an IMF bailout” - Business Live
“Is an IMF bailout for SA imminent” - News 24
“Does SA need help from the IMF?” - eNCA
Prominent billionaire and business man, Johann Rupert has even suggested this. According to a Business Live report Rupert said an IMF bailout is “a serious possibility”, while Paul Harris, one of ... ››› more
Following overnight talks, Greece has reached a deal with its creditors.
This follows Greece missing a multibillion euro payment to the International Monetary Fund two weeks ago. This led the country to close its banks and to impose strict controls on bank withdrawals.
So what does the new bailout deal entail? And will Greece remain in the Eurozone?
Let's take a closer look…
Gree... ››› more
History is being written as you speak!
We had a very nerve wracking weekend, with the chaos going on in Europe.
The people of Greece voted in a referendum to determine whether they want to accept the current bailout offer (Yes -ναι - NAI) and implement austerity measures, or to say NO (οχι - Oxi).
Well the referendum showed 61.31% of the Greeks saying NO to austerity. And 38.69% of ... ››› more
This morning, the National Treasury announced that the government has sold its stake in wireless operator Vodacom.
The Public Investment Corporation (PIC) purchased the shares at a significant discount.
The government sold the holding to raise money for cash-strapped Eskom.
Let's take a closer look at what's going on…
The government sells its 13.91% stake in Vodacom to the PIC
... ››› more
The rand has continued its trend weaker against the dollar.
The local currency is succumbing to pressure as traders look to safer assets as worries grow over what's happening in Greece.
Let's take a closer look at what's going on…
The rand suffers as uncertainty surrounds what’s happening in Greece
The rand “extended its losses in a risk-off environment,” reports BDLive. Thi... ››› more
At the end of July, Rand Refinery revealed it will receive a shareholder loan to make up for loss of 87,000 ounces or 2.7 tons of gold.
Rand Refinery in Germiston is one of the largest gold refineries in the world. It's the largest in Africa. It's also the largest single site for precious metals refining and smelting in the world.
At the current gold price, that's around $114 million (R1.2 ... ››› more
It's been pretty quiet on the Eurozone front lately. The drama of various EU countries verging on the brink of bankruptcy appeared to have been contained. But with two highly regarded MPs resigning on Monday and threats of more to follow, Portugal's debt crisis has reared its ugly head again. This led to its stock market plunging more than 6% today. Let's see what's been going on…
Since Europe... ››› more
Following the surprise step down by the chief executive of state rescued Royal Bank of Scotland (RBS), its shares plummeted. The market hasn't reacted well to the news. Read on to find out what's been going on…
Following the financial crisis that rippled through the banking sector in 2008, the British government had its fair share of bank bailouts to contend with.
By far the largest of them... ››› more
On Tuesday, Cyprus's parliament approved an EU bailout of €10 billion. This includes provisions to impose substantial losses on bank depositors and wind down one of the island's biggest banks. Here's how it came about…
Thanks to a two vote majority, lawmakers finally approved the terms for a €10 billion bailout for Cyprus from the European Union and the International Monetary Fund.... ››› more
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