South Africa
Old Mutual Wealth hires new COO as group break-up approaches
Old Mutual Wealth has appointed Steven Braudo as chief operating officer, effective 1 June 2016.
Old Mutual to break into 4 new businesses
South African financial services group Old Mutual has decided to break up its business into four separate units as it believes they will perform better independently.
Barclays to sell its stake in Africa bank
Barclays Bank has announced its intention to sell its 62.3% stake in its African business, Barclays Africa Group Ltd (BAGL) over the next two to three years as it faces regulatory pressure over capital requirements and FX erosion.
S. African tax amnesty to aid small firms and individuals
Individuals and small, closely held business entities will be the most affected by the South African offshore tax amnesty which is due to begin in October, according to EY.
Commodities | 19 Feb 16
Moody’s cuts Saudi growth outlook amid ratings slide
The impact of lower oil prices has caused ratings agency Moody’s to revise down its economic outlook for Saudi Arabia, in a week which saw rival agency Standard and Poor’s announce a two-notch downgrade of the country’s sovereign ratings.