PayFast, SA's answer to PayPal
South Africa finally has its own online PayPal-like service for providing online shoppers with a safe credit card-like experience for making payment using Internet banking (EFT). PayFast, an initiative from BidorBuy founder Andy Higgins that came out of beta testing at the beginning of September 2008, is already being used by a number of South African online merchants. 10 Oct 2008 11:32
Dow Jones average dips more than 7% on panic sell-off
NEW YORK, USA: The Dow Jones Industrial Average dipped more than 7% on Thursday as panic sell-off dominated markets. 10 Oct 2008 11:27
SA interest rates anchored amid global turmoil
[Michael Appel] The current global economic turmoil has been cited as one of the reasons Reserve Bank Governor Tito Mboweni has left the repo rate unchanged at 12%. 10 Oct 2008 11:07
Unprecedented move to prop up the UK banking system
[Datamonitor] Treasury moves to inject trust, as well as liquidity, into the UK banking system. 9 Oct 2008 14:16
SA markets faring better than other developing countries
[Michael Appel] In the midst of the global economic crisis, South Africa's markets are faring better than most other developing nations, having dropped 7% on Monday compared to developing nations sliding 10%. 9 Oct 2008 06:14
Opportunity knocks for big pharma in credit crunch
[Dr. Chris Phelps] The primary consequence of the credit crunch for non-financial companies is the loss of access to cheap debt. 9 Oct 2008 06:12
EU finance ministers to coordinate responses to financial crisis
European Union (EU) finance ministers agreed on Tuesday to coordinate their responses to the escalating global financial crisis. 8 Oct 2008 12:00
Financial services shoppers move online
Among people with internet access intending to acquire a financial product in the next year, there is an 87% chance they will research their products of interest online beforehand. 7 Oct 2008 11:43
Wes is best
According to the results of a recent survey, WesBank remains the best large company to work for in South Africa. 7 Oct 2008 11:12
US Senate approves revised $700 billion bailout plan
WASHINGTON: The US Senate on Wednesday approved a revised $700 billion bailout plan, which will authorise the US government the largest financial intervention since the Great Depression. 2 Oct 2008 13:38
Absa gets Woolworths Financial Services
Woolworths advised its shareholders today that all the conditions precedent relating to the acquisition by Absa of 50% plus one share of the issued ordinary share capital of Woolworths Financial Services have now been fulfilled. 2 Oct 2008 13:33
Politicians sink rescue plan
[Michele Gorman, Datamonitor Lead Analyst] Pigheadedness and politicking cost American taxpayers $1.1 trillion from their savings and retirement funds yesterday and the cost to the world's economies will be much greater than it need be if a package isn't passed soon - without watering down. 1 Oct 2008 13:38
Global economic crisis to be felt by developing countries
[Proffesor Ndawonde] The current global economic environment is cause for concern for all of us, according to North West Premier Edna Molewa, who says South Africans are in for a tough time. She said while it was expected that the value of houses in South Africa would decline, the high cost of living was making it difficult for owners to make their monthly bond payments. 30 Sep 2008 12:04
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