The Prudential Authority (PA), an entity of the South African Reserve Bank tasked with monitoring banks, has fined Capitec Bank R56 million for failing to comply with some provisions of the Financial Intelligence Centre Act (FICA), mainly enacted to prevent money laundering. The PA accused the bank of failing to comply with certain provisions of… Continue reading Capitec Bank Fined R56 Million For Failing To Comply With FICA Regulations
Category: Business
Ethiopia’s Mining Sector Attracts Increased Global And Private Investment
Ethiopia’s mining industry is gaining significant momentum, with both domestic and international investors showing heightened interest, according to the Ministry of Mines. This is reported by ENA, a partner of TV BRICS. Habtamu Tegegn, Ethiopia’s Minister of Mines, noted that the mining sector is being strategically aligned to bolster its contribution to the national economy,… Continue reading Ethiopia’s Mining Sector Attracts Increased Global And Private Investment
Saudi Delegation Strengthens Economic Ties With South Africa Through Key Initiatives and Investments
Saudi Minister of Commerce, Majid bin Abdullah Al-Qasabi, emphasised Saudi Arabia’s dedication to enhancing trade and economic relations with Africa during a high-profile visit to the Republic of South Africa. This effort is part of a broader commitment announced by Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, at the Saudi-African Summit… Continue reading Saudi Delegation Strengthens Economic Ties With South Africa Through Key Initiatives and Investments
Saudi Arabia Plans To Invest US$5 Billion In Egypt To Strengthen Economic Ties
During a meeting with Egyptian Prime Minister Mostafa Madbouly in Riyadh, Saudi Crown Prince Mohammed bin Salman announced his intention to invest US$5 billion through the Saudi Public Investment Fund (PIF) in Egypt as part of efforts to strengthen economic ties between the two countries. This is reported by Daily News Egypt, a partner of… Continue reading Saudi Arabia Plans To Invest US$5 Billion In Egypt To Strengthen Economic Ties
8th Conference Of Chinese And African Entrepreneurs Held In Beijing
African Times has published this article in partnership with Xinhua News Agency
UAE To Increase Foreign Trade To US$108.9 Billion By 2031
UAE’s foreign trade volume aimed at nearly US$1,09 trillion, and non-oil exports grew by 25 per cent. This is reported by Emirates News Agency (WAM), a partner of TV BRICS. In the first half of 2024, the UAE’s non-oil exports to 10 key trading partners grew by 28.7 per cent, while trade with the rest… Continue reading UAE To Increase Foreign Trade To US$108.9 Billion By 2031
Iranian And Russian Automobile Manufacturers Meet To Explore Cooperation
Iranian and Russian automobile and parts manufacturers met at MIMS Automobility Moscow 2024 to discuss ways to strengthen cooperation. The export of Iranian automobile spare parts to Russia has faced a 450 per cent increase in the past years. This is reported by Mehr News Agency, a partner of TV BRICS. The Iranian delegation, led… Continue reading Iranian And Russian Automobile Manufacturers Meet To Explore Cooperation
Nigerian High Commission Calls For Improved Nigeria-SA Trade Relations
The Nigerian High Commission in South Africa has called for an improved regulatory framework and a visa regime to “scale up” trade and other relations between the two countries and their citizens. Ambassador Alexander Temitope Ajayi, the Acting Nigerian High Commissioner to South Africa, has urged the business community and ordinary people in both countries… Continue reading Nigerian High Commission Calls For Improved Nigeria-SA Trade Relations
Iran Increases Exports Of Persian Handmade Carpets
Iran’s National Centre for Creative Industries and Carpets reported a significant increase in the production of hand-woven carpets in the first four months of the current Persian year (started in Iran on March 20). This growth was accompanied by an increase in exports. This is reported by IRNA, a partner of TV BRICS. A total… Continue reading Iran Increases Exports Of Persian Handmade Carpets
Brazil’s Coffee Export Is On The Rise
Exports of green coffee from Brazil totalled 3.39 million 60-kilogramme bags in July, an increase of 25.7 per cent compared with the same month last year. Shipments of canefol coffee were up 82.2 per cent year-on-year in July. This is reported by Brasil 247, a partner of TV BRICS. Exports of Arabica beans rose 13… Continue reading Brazil’s Coffee Export Is On The Rise