page contents
Connect with us

Business

South Africa: Maria Ramos of Absa to retire in February.

Published

on

Absa said on Tuesday its CEO Maria Ramos would retire at the end of February after ten years at the helm, sending the bank’s shares higher as traders saw this as a chance for a fresh start.

René van Wyk will become interim chief executive with effect from March until a permanent appointment is made, the lender said in a statement.

Absa, currently South Africa’s third biggest lender, has been trying to carve out a name for itself as a stand-alone African bank after separating from its parent, Britain’s Barclays, in 2017.



Ramos steps down after completing that separation and the relaunch of the brand.

IMG-20180912-WA0030

“With the separation on track and our new strategy as a standalone financial institution in place, Maria feels that this is the right time to retire,” Absa said.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

The bank said Ramos had indicated a desire to step down earlier, but agreed to see the group through the separation negotiations with Barclays.

Nilan Morar, head of trading at Global Trader, concurred: “Making way for fresh blood and new ideas would not typically be a bad thing after a period that is that long.”

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

24 Hours Across Africa

India dismissed 15 top officials

Published

on

images

Source:Reuters

India on Tuesday sacked 15 senior tax officials facing probes in corruption cases, sending across a tough message to bureaucrats taking kickbacks for facilitating tax evasion by companies, a government statement said.

DOWNLOAD ANTTENTION FRESH NEWS ON THE GO APP

Last week, the government had dismissed 12 income tax officials who were mainly facing corruption charges.

India improved its ranking, among 180 countries, by three points to 78th on a global corruption index in 2018, according to the annual index of the Transparency International, an anti-graft watchdog.


@ Anttention Fresh,                
We work hard to ensure that any news brought to you is legitimate and valuable so we leave out the noise. This material, and other digital content on this website, may be reproduced, published, broadcast, rewritten or redistributed in whole or in part BUT give us credit as source.

JOIN AN ONLINE LEARNING COMMUNITY CLICK IMAGEonline training

Continue Reading

Business

Egypt Ranks 2nd Amidst World Emerging Economies.

Published

on

Amidst the 21 most flexible emerging economies worldwide, Renowned Bloomberg has listed Egypt’s economy behind Philippines in the face of the global trade war.

DOWNLOAD ANTTENTION FRESH NEWS ON THE GO APP

In its analysis, the Bloomberg agency relied on a set of criteria, most important of which being the GDP growth rate, local currency performance against international currencies, foreign exchange reserves, credit rating, and finally current account performance.

The Egyptian cabinet’s Media Center said in a statement on Monday that indicators of the Egyptian economy improved significantly during the recent period, most notably the choice of the Egyptian pound as the second-best performing currency in the world against the US dollar this year so far, according to Bloomberg.

Of these indicators, GDP growth in the third quarter of fiscal year 2018/2019 reached 5.6 percent, alongside a rise in net foreign exchange reserves by the end of May 2019 to US$44.3 billion, with the current account deficit as a percentage of the GDP declined from 6.1 percent in 2016/2017 to 2.4 percent in 2017/2018.

The statement added that the Egyptian credit rating achieved its best level since 2011 after the agencies of Moody’s, Fitch and Standard & Poor’s upgraded Egypt’s credit rating.

-Egyptian Independent


@ Anttention Fresh,                
We work hard to ensure that any news brought to you is legitimate and valuable so we leave out the noise. This material, and other digital content on this website, may be reproduced, published, broadcast, rewritten or redistributed in whole or in part BUT give us credit as your source. 

JOIN AN ONLINE LEARNING COMMUNITY CLICK IMAGEonline training

Continue Reading

Facebook

Advertisement
Flag Counter
Advertisement

Trending

Copyright © 2018 Anttention Media. All rights reserved