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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
Johannesburg - Africa's biggest bank by assets, Standard Bank Group, does not have direct exposure to Dubai World but will monitor credit risk in firms linked to the troubled conglomerate to which it is exposed.
Dubai has asked to delay payment on billions of dollars of debt issued by Dubai World and its property subsidiary Nakheel, sparking fears the emirate could default and even derail a world economic recovery.
South Africa's Standard Bank said on Friday there had been no indication of change in the credit performance of the companies it was exposed to. Banks outside the Gulf also played down their exposure to the debt crisis.
"We have no direct exposure to Dubai World but we do have exposures to companies where Dubai World is a key shareholder," Standard Bank said in a statement.
"These companies are separate operating companies and the exposures are generally collateralised and/or secured," the statement said.
- Reuters