The world is changing fast and to keep up you need local knowledge with global context.
By Linda van Tilburg
In today’s global business headlines…
- Finance Minister Pravin Gordhan has been subpoenaed by the Public Protector to submit an affidavit related to the so-called SARS rogue unit. Gordon’s spokersperson confirmed the receipt of the subpoena saying it amounted to persistent harassment of Gordhan and is an example of a campaign to resist efforts to reveal and prosecute corruption.
- Wikileaks founder, Julian Assange is facing extradition to the United States after a US federal court indicated him on a computer-hacking conspiracy. This is a dramatic turn in Washington’s long-running effort to prosecute a man it accuses of running a hostile foreign intelligence service. The Americans were quick to act after the Ecuadorian embassy in London finally evicted their guests who has hidden in the embassy since 2012.
- After another Brexit deadline has been moved, this time to the 31st of October, Global Economist at Schroders, Azad Zangana says the extension to the Brexit deadline reduces the incentives for the UK Parliament to compromise on a deal. Zangana says he struggles to see what will break the impasse. The likelihood of the talks between Prime Minister Theresa May and the Labour Party leading to an agreement is very low and indicative votes have been exhausted. Schroders foresees that a raise in interest rates to normal levels, which the Bank of England is keen on, will have to wait until after Brexit is settled.
- Sudan’s military has seized power from the country’s long-time dictator, Omar al-Bashir setting up a clash with protesters who have been calling for a civilian government. Bashir has been arrested and the army is taking over power for two years while the country’s constitution has been suspended and the military dissolved the government and parliament.
- In other more positive local news… while most political parties in the current election campaign are fighting a negative campaign telling voters how bad the others are, consultancy group EY has lifted South Africa’s Fintech out as positive development. EY says South Africa, with Cape Town and Johannesburg as its hubs harbours about a third of all Fintech firms in Africa.
- Two South African scientists, Prof Roger Deane from the University of Pretoria and Dr Iniyan Natarajan from Rhodes were part of the international collaboration who take the very first picture of a black hole that is 55m light years from the earth. More on these stories on Biznews.com.
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