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Facebook At Work will reportedly arrive at offices next month

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Facebook is reportedly planning to launch its “At Work” enterprise communications network within the next few weeks.

The platform — which matches Facebook’s design and offers a News Feed-style timeline for the workplace (entitled “Work Feed”), alongside Groups, and Messenger features — will be available on a per user monthly payment scheme. This marks a change from Facebook’s earlier plans to offer the basic At Work platform for free and charge a premium based on additional features, The Information reports.

According to Facebook At Work director Julien Codorniou, the company decided to change the payment model based on its confidence that the platform “would get employees engaged.” Codorniou did not disclose how much the monthly subscription would cost.

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From a user perspective, Facebook At Work allows you to create a separate work profile and connect with fellow employees from your company, regardless of their location. Users can join groups to collaborate on projects, track important updates from colleagues in the “Work Feed,” and create and join events.

In November, Facebook introduced a chat client — much like Messenger — to the platform. “Work Chat” allows users to connect privately with their co-workers by sending messages, participating in group chats, sharing links, photos and videos, and making voice calls. The chat client, which is also available as a mobile app, brings the platform closer to team-based messaging services such as Slack. Facebook is also reportedly working on introducing integration with other productivity platforms upon launch, notes TechCrunch.

Facebook began testing its “At Work” platform in early 2015, snapping up a number of global partners along the way, including the Royal Bank of Scotland, Norway’s DNB Bank, and India’s Yes Bank, among others. The company will be hoping that its wider roll-out will finally put to bed the notion that Facebook is unsuitable for work, and merely serves as a distraction in the office space.

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South Africa Rand stables against embattled pound

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The rand was relatively stable on Friday morning, and headed for its best week against the beleaguered pound in about nine weeks.



The fallout from the failure of the UK’s Brexit plan is on traders’ radars, overshadowing the controversial and divisive land reform debate, which has previously hurt the rand.

“May has seen her plans for ‘Shmexit’ torn apart: that is what one could dub a Brexit that is literally leaving the EU, but which in no way regains sovereignty in key areas, and which might be impossible to ever change further unilaterally,” UK-based Rabobank International analyst Michael Every said in a note.

“Indeed, we have seen a swathe of key ministerial resignations, and suggestions there are enough MPs’ votes in hand to trigger a leadership election as soon as next week.”

The pound tanked against a host of currencies on the news, but has since stabilised at lower levels as markets await further developments.

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The rand has benefited from the ensuing market volatility, settling a hefty 3% stronger against the pound on Thursday night. Local bonds have benefited, too.

The local currency has fared better against the dollar so far this week, strengthening the case for a big cut in fuel prices in December.

According to AA, the petrol price is likely to be cut by R1.54 a litre, diesel by 92c and illuminating paraffin 85c.

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The expected drop in fuel prices comes as oil prices fall: Brent crude is about 10% lower in November, according to Iress data.

At 10.12am, the rand was 0.2% softer against the dollar at R14.2075, 0.32% weaker against the euro at R16.12 and 0.36% softer against the pound at R18.1858. The euro was 0.14% stronger to $1.1346.

The yield on the benchmark R186 bond slipped to 9.145% in early trade, from 9.17% at its last settlement.

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Uganda Shilling Fares Well than past week.

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The Uganda Shilling was relatively stable, trading within range of 3747/57 as market demand was evenly matched by the inflows.




In the interbank money market, overnight funds traded at 6.50% while one week traded at 10%, a report by Alpha Capital Markets indicates.

The Shilling closed the week at around 3,744.88/3,754.88 to the US Dollar, up from 3,748/58 last week buying and selling.

In the fixed income market, a treasury bill auction with sh195bn on offer was held. Yields marginally declined across all the tenors and came out at 10.800%, 12.400% and 13.501%, for the 91, 182 and 364 days. The auction was hugely oversubscribed.

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In the regional currency markets, the report further indicates that the Kenya Shilling was quickly coming under pressure due to increased demand from importers of oil and other commodities as they close out payments for orders ahead of the festive season.

The Kenya and Tanzanian currencies traded at 36.77/36.87 and 1.63/1.64 buying and selling respectively.

Stephen Kaboyo the Alpha Capital Markets CEO, said that in international markets, the US Dollar gained against other major currencies as the Federal Reserve kept interest rates steady but reaffirmed its monetary tightening, setting the stage for a rate hike in December.

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On the other hand, Kaboyo added that the US midterm elections outcome that markets interpreted as a gridlock on Capitol Hill, came in support of the greenback with expectation that chances of further fiscal stimulus and tax cuts will be minimal.

“Outlook for the shilling indicate a range bound unit as mid-month market dynamics set in. It is likely that demand will remain at a low ebb,” he said.

Dealers attributed the performance of the Shilling to liquidity squeeze in the money markets.

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-NewVision

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