Sunday, 20 August, 2017

S.Africa watchdog says Barclays Africa must repay $86.44 mln over bailouts

Absa must pay back R1.125 billion for irregular apartheid-era gifts Public Protector S.Africa watchdog says Barclays Africa must repay $86.44 mln over bailouts
Mike Hodges | 20 June, 2017, 00:08

Mkhwebane released the Ciex report, along with three other reports on various spheres of government, on Monday during a press briefing.

Sections in the Constitution on the Reserve Bank must be changed to say its primary objective is to "promote balanced and sustainable economic growth" and to ensure citizens' "socio-economic well-being" is protected.

Cape Town - The Democratic Alliance (DA) has called on Public Protector Busisiwe Mkhwebane to release four reports involving the Gupta family on Monday "in the interest of transparency and the South African public".

Absa said in a statement it had not received a copy of the report and denied any wrongdoing, saying it "met all its obligations in respect of the loan provided by the South African Reserve Bank by October 1995".

"We will continue to honour our constitutional mandate and the trust placed in us by the South African society".

The Public Protector also found that Absa had "unduly benefited" from the bailout.

Economists Nic Borain and Jeff Schultz at BNP Paribas South Africa said in a note that the Public Protector had placed the future of the central bank's autonomy into question.

Barclays Africa would have to pay 1.1 billion rand ($86 million), Mkhwebane said, adding that her office had referred the matter to the Special Investigating Unit to help recover the money.

In December, the president lodged an application at the High Court in Pretoria to review and set aside the remedial action in the State of Capture report. At the time the preliminary report was compiled, these parties had not yet responded to investigators at the public protector's office.

At the same event, Mkhwebane said she will oppose a bid by President Jacob Zuma to have set aside a report on claims of influence-peddling by him and his government.

Recommended

  • Oregon DMV To Offer 3rd Gender Identity On ID Cards

    Oregon DMV To Offer 3rd Gender Identity On ID Cards

    So while Oregon's the first state to allow a third gender option, it likely won't be the last. My gender identity has never been male, but I feel like I have to own up to my male biology.
    Former Israeli tennis star killed using popular NY bike-sharing service

    Former Israeli tennis star killed using popular NY bike-sharing service

    The collision appeared to be an accident, the authorities said, and the 52-year-old bus driver remained at the scene. Officials from the Citi Bike programme say that more than 43 million journeys have been made since the scheme began.
    Sessions to appear before Senate intelligence committee

    Sessions to appear before Senate intelligence committee

    Deputy Attorney General Rod Rosenstein will replace Sessions at the appropriations committees' hearing Tuesday. Leahy took to Twitter on Saturday night and Sunday morning to inform Sessions that he can't run forever.
  • President Trump to bring back harsher restrictions on travel to Cuba

    President Trump to bring back harsher restrictions on travel to Cuba

    The actions, however, are far from a full rollback of the policies Obama champion in the latter half of his administration. He told CNN a year ago that he would like to open a hotel in Cuba "at the right time, when we're allowed to do it".
    Vice president to travel to Central and South America

    Vice president to travel to Central and South America

    Pence has not come under any particular scrutiny over the course of the Department of Justice Russia investigation. Kasowitz and his spokesman have served as public attack dogs in defense of Trump in the Russian Federation matter.
    Texas Rangers vs. Tampa Bay Rays

    Texas Rangers vs. Tampa Bay Rays

    Elvis Andrus leads the Rangers with 60 hits and 27 RBI while Nomar Mazara and Rougned Odor have combined for 96 hits and 58 RBI. Entering the Rays' 9-5 loss to the Rangers on Tuesday, he led the league in hits (70) and batting average (.345).
  • US Supreme Court blocks law banning offensive trademarks

    US Supreme Court blocks law banning offensive trademarks

    Those bystanders, in this case, would be the marginalized groups who have been trying to get their own trademarks registered. Ultimately, however, the sentiment is similar that the government must be careful about interfering with free speech.
    Chelsea to host Burnley in Premier League season opener

    Chelsea to host Burnley in Premier League season opener

    In comparison to last season, Tottenham's Premier League fixture list after competing in Europe is much kinder this time around. They struggled there in Europe last season and lost 4-2 to Chelsea there in the FA semi-final earlier this year.
    Apple Unveils Powerful New iMac Pro

    Apple Unveils Powerful New iMac Pro

    Featuring next-generation Intel Xeon processors up to 18 cores, iMac Pro is created to handle the most demanding pro workflows. Apple Inc . (NASDAQ: AAPL ) said that its MacBook and MacBook Pro lineup will get faster Kaby Lake processors .
  • List of Republican congressmen found with baseball practice shooter

    List of Republican congressmen found with baseball practice shooter

    Hodgkinson says her husband prepared for his trip to Washington by selling everything he owned from his home-inspection business. The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) determined both were purchased legally, the FBI said Thursday.

    Turkey's FM heads to Riyadh to mediate the Qatar crisis

    Kuwaiti Amir His Highness Sheikh Sabah Al Ahmad Al Jaber Al Sabah made trips to Doha , Riyadh and Abu Dhabi to break the deadlock. Also, the Pentagon has just signed off on a delivery of F-15 fighter jets to Qatar , allegedly worth $ 12 billion .
    Rep. Roger Williams (R-TX) Says Staffer Shot At Congressional Baseball Practice

    Rep. Roger Williams (R-TX) Says Staffer Shot At Congressional Baseball Practice

    Bleeding from his leg, he said he ran as fast as he could and jumped into the first base dugout with Rep. We were sitting ducks. "I got shot this morning at the baseball fields but I am in the hospital and ok.

South Sudan's displaced see little chance of peace The record number includes 22.5 million refugees, 40.3 million internally displaced people and 2.8 million asylum seekers. Tragically, 75,000 asylum claims were received from children travelling alone or separated from their parents.

Zaman, Amir propel Pakistan to rout India for first Champions Trophy title Zaman, Amir propel Pakistan to rout India for first Champions Trophy title Bollywood stars congratulated Pakistan after it defeated India by 180 runs in the final ICC Champions Trophy cricket match today. Despite the enormity of the occasion, and the fanfare around it, the two teams tried to play it down, Kohli in particular.

Mayweather, McGregor agree to August 26 super fight Forty-year-old Mayweather is considered the greatest boxer of his era, retiring with a 49-0 pro record from 1996 through 2015. The fight was first mooted in a series of exchanges on social media, in which McGregor urged Mayweather to step up and sign.

Donald Trump confirms he is under investigation for obstruction of justice A close Trump associate said this week the president was considering firing Mueller , although the White House later denied it. Trump has disputed both claims , saying flatly that he never asked Comey to drop the Flynn probe.

Hometown pleased that student has returned from North Korea Hometown pleased that student has returned from North Korea Warmbier, 22, a University of Virginia student from suburban Cincinnati, arrived in the U.S. on Tuesday evening, witnesses said . He had not been seen in public since, and Swedish diplomats, representing USA interests, had been denied consular access to him.

Wife: Man who shot congressman wanted to work on tax policy Wife: Man who shot congressman wanted to work on tax policy Hodgkinson says her husband prepared for his trip to Washington by selling everything he owned from his home-inspection business. She said Hodgkinson made preparations for leaving, selling nearly everything he owned from his businesses before the trip.

Trump 'ready to testify' over Comey conversations Trump 'ready to testify' over Comey conversations Facing a Senate committee Thursday, Comey portrayed Trump as dismissive of the FBI's independence. Susan Collins tells MSNBC's "Morning Joe" that she found him "credible, candid and thorough".

Tim Farron resigns as leader of Liberal Democrats Tim Farron resigns as leader of Liberal Democrats Brian Paddick has quit as Liberal Democrat home affairs spokesman citing "concerns" about Tim Farron's views on "various issues". Farron's majority was slashed from more than 9,000 to about 700 votes.

Trump cheerleaders turn on special counsel Mueller Trump say he is so volatile they can not be sure that he will not change his mind about Mr. Former FBI director is too close to his successor, James Comey , to be impartial.

Become Human shows off gameplay footage at E3 2017 Become Human shows off gameplay footage at E3 2017 Detroit puts the players in the shoes of a robot who starts to question their reality and what it means to be human. Detroit: Become Human is being developed by Quantic Dream and will release exclusively on the PlayStation 4.

E3 2017: Check Out 16 Photos of Mario + Rabbids Kingdom Battle Figures There is an exploration part of the Mario + Rabbids: Kingdom Battle that is similar to the standard 3D Mario game. To restore order, Mario , Luigi, Princess Peach, and Yoshi must team up with a whole new crew.

Finals of National Spelling Bee begin with 40 elite spellers Finals of National Spelling Bee begin with 40 elite spellers She spelled "tapas:" correctly on Wednesday, but did not get enough points to continue to Thursday's competition. But missed one in the second round, joining the nearly 250 students who didn't make the final group.

Brexit talks can start 'when United Kingdom is ready', says European Union chief negotiator Brexit talks can start 'when United Kingdom  is ready', says European Union  chief negotiator He said: "Brexit negotiations should start when United Kingdom is ready; timetable and European Union positions are clear". "We know when they must end", said Mr Tusk.

UK's Boris Johnson says PM May is best person to deliver Brexit UK's Boris Johnson says PM May is best person to deliver Brexit He told the BBC programme: "I've been reading stories about Boris Johnson running a leadership campaign for years". Mr Johnson continued: We must get on and deliver for the people of this country - including a great Brexit deal.

No change to plans for Trump visit to Britain: May spokeswoman No change to plans for Trump visit to Britain: May spokeswoman Khan responded by slamming Trump for politicising a terrorist attack - and not for the first time. Liberal Democrat leader Tim Farron said Mr Trump was "clearly terrified of the British public".