As the alleged wrongdoing at Bishops Diocesan College shows, equating wealth with virtue is a bad idea, writes Helena Wasserman.
High level clouds. Mild.
An increasing number of South Africans have started to research their options on how to move money offshore, says a tax expert.
The provider of a common payment platform used by banks to pay out pensions is demanding to be paid in foreign currency.
The matter dates back to 2017 when the Competition Commission referred a collusion case involving 17 banks to the Tribunal. Three domestic banks – Absa, Standard Bank and Investec were among those named.
Zimbabwe mining companies – which include units of Anglo Platinum, Impala Platinum and Caledonia Mining – are to award an 80% wage increase to mine workers.
British multinational banking and financial services company, Standard Chartered, has pleaded guilty to manipulating currencies, including the rand, between 2007 and 2013.
One of Zimbabwe's biggest grocery wholesaler N Richards Group says it is losing up to 15% of turnover per day spent without accessing fuel for distribution.
Credit card skimmers are a risk, but the fine print in your credit card contract hides all kinds of traps for the unwary user.
We really are in a perfect storm, with so many variables, including US President Donald Trump's tweet, affecting the rand right now, says forex expert Tim Powell.
The rand lost almost 1% against the US dollar after South Africa's current account deficit came in worse than expected and a lot worse that the previous quarter's print.
The battle between the Competition Commission and Standard Bank in the forex-fixing case took a step up this week, with the competition watchdog accusing the bank of “a clear sign of an abuse of process”.
In a statement released on Tuesday, Zimbabwe President Emmerson Mnangagwa said it had always been clear that for the country's economy to take off, "we need our own currency".
The matter dates back to February 2017, when the commission referred a forex collusion case initially involving 17 banks to the tribunal for adjudication.
In February, Zimbabwe introduced a new currency called the RTGS, or real-time gross settlement dollar, in the process abandoning its long held 1:1 parity between the US dollar and its local transactional instrument - the bond note.
Foreign investors on the Zimbabwe Stock Exchange are likely to take a huge foreign exchange loss on their investments, but at least they can now have their money back following a new directive by the Reserve Bank of Zimbabwe.
Zimbabwe has hiked fuel prices by approximately 150% with effect from midnight on Sunday as the government battles with crippling shortages.
MTN has reached a settlement with the Central Bank of Nigeria on an $8.1bn dispute relating to funds repatriated between 2007 and 2015.
It is likely that the rand, along with other emerging market currencies, will remain volatile, says deputy governor of the SA Reserve Bank Daniel Mminele.
Turkey has grown at breakneck pace and amassed debt in the process. Now, 8,000km away, South Africa is one of the countries paying the price.
Alison Barker, owner of FX Solutions Wealth, provides a health check on the rand and tips for managing foreign exchange volatility.
The new rules come into force in June and also crackdown on adverts for financial products.
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