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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 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.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
THE runners are off... Davos has begun. The agenda is clear: how to do things differently in the future, especially when it comes to the banks.
The discussion has been galvanised by President Obama's proposals to split the big Wall Street firms and ban proprietary trading. Stephen Green, chairperson of HSBC told me reform of the banks is needed but cautions against doing it in haste. And he doesn't like president Obama's proposals for banning prop trading by banks which he says is unworkable.
There are big thoughts being raised here today. Ben Verwaayen the CEO of the telecom company Alcatel-Lucent is promoting cohesive capitalism. He explained that companies need to set policies around a much bigger agenda than earnings per share.
"I'm talking about issues... whether that's health, whether that's climate change, whether it has to do with the cohesion of society because of diversity. And companies need to contribute." This is true Davosian thinking.
Ben knows stating the principle is part of the process at Davos. Tom Glocer the CEO of Thomson Reuters - a seasoned Davos-hand ? knows, "Ideas are generated independently. They begin to be socialised. They are essentially repeating what they've heard in the corridors here. The idea picks up traction."
In the cold winter of Switzerland there is, as always, hot debate of these issues and these conversations will eventually lead to change.
- Fin24.com
Tune in to CNN International each evening at 19:00 GMT to watch Richard Quest on "Quest Means Business".