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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.
Zurich - Switzerland's biggest bank UBS on Tuesday posted a net profit of 296 million Swiss francs ($251m) for the third quarter, but warned that a loss was looming for the next quarter.
"UBS expects that the conditions seen at the beginning of the fourth quarter will continue to affect clients' assets, and therefore UBS' fee-earning business," it said in a statement.
The bank, which was forced to seek help worth almost $60bn from the state, said its fourth quarter results would also be affected by the state's aid package.
This includes a loss to be realised due to a sale of its illiquid assets to the Swiss National Bank under the rescue package.
- AFP