Publications
Partners
Cape Town - A roundup of the stories that dominated Fin24's headlines on Monday.
Glencore's role in #ParadisePapers leak: What you need to know
The activities of the world’s biggest commodity trader, Glencore, are under scrutiny after a massive leak of confidential information from offshore law firm Appleby Global Group Services.
Appleby suffered an alleged hack in 2016 and confidential data on the firm’s work for multinational corporations and high net-worth individuals was obtained by the International Consortium of Investigative Journalists. The group and its partner media organisations are publishing a series of stories based on millions of pages of Appleby corporate records, meeting minutes and emails.
Glencore was one of the top clients of Appleby, which even had a "Glencore Room" at its Bermuda office that kept information on the trader’s 107 offshore companies.
The so-called Paradise Papers include information relating to Glencore’s operations in the Democratic Republic of Congo and Australia, and involvement in a shipping business.
READ: Glencore's role in #ParadisePapers leak: What you need to know
For a quick roundup of what has been reported so far, click here.
JHB inner city: The Dubai of Southern Africa
Johannesburg has become a regional retail hub with cross border shopping activity running into billions. (Pic: Mark Lewis)
Johannesburg's central business district is developing into a major cross border shopping hub, servicing the broader sub-Saharan region and has a potential to grow even further, says Dr Tanya Zack.
Over the last 20 years Johannesburg has become an intense wholesale and retail centre for local hawkers and for traders from all over sub-Saharan Africa.
Billions of rand worth of fast fashion is sold annually in the traditional central business district and in 20 large Chinese shopping malls west of the inner city.
READ: Johannesburg’s inner city: the Dubai of southern Africa, but all below the radar
Possible reasons why your medical scheme is not paying your bill
There are few things as frustrating as trying to negotiate the administrative labyrinth of a medical scheme. But one thing that is worse, is having to pay the bill yourself.
Chat to any medical scheme member, and you will find that just about everybody has a story to tell about a bill they expected to be paid, and which was not.
But contrary to popular belief though, the fault does not always lie with the scheme – sometimes members do not follow the correct claiming procedures or rules, and sometimes the fault lies with the doctor’s billing practices.
READ: Possible reasons why your medical scheme is not paying your bill
Crackdown on billionaires, top officials shakes Saudi Arabia
Saudi Crown Prince Mohammed bin Salman. (Fayez Nureldine, AFP)
Even by the standards of Crown Prince Mohammed bin Salman, whose meteoric ascent has put him on the cusp of the Saudi throne at the age of 32, the Saturday night crackdown was stunning.
In just a few hours, security forces arrested princes, billionaires, ministers and former top officials as soon as King Salman announced a sweeping anti-corruption drive. Those detained included billionaire Prince Alwaleed bin Talal, who was picked up at his desert camp outside Riyadh, according to a senior Saudi official.
Before midnight, the suspects’ names were already being leaked to local media, first as initials and later in full.
READ: Crackdown on billionaires, top officials shakes Saudi Arabia
Parliament requests disciplinary report clearing SARS' Makwakwa of wrongdoing
Parliament’s standing committee on finance has requested a copy of the disciplinary inquiry report on Jonas Makwakwa and Kelly-Anne Elskie, two employees of the SA Revenue Service whose suspensions were lifted recently.
“After consulting with Parliament’s Legal Services Unit, the [committee] has written to the Commissioner of SARS, Mr Tom Moyane, as well as Finance Minister Malusi Gigaba to request a copy of the report on Mr Jonas Makwakwa and Ms Kelly-Anne Elskie,” committee chairperson Yunus Carrim (ANC) said in a statement.
“Although we have no evidence that Mr Makwakwa and Ms Elskie are guilty of the allegations against them, we still believe that it is in the public interest that the report be released," he said.
READ: Parliament requests disciplinary report clearing SARS' Makwakwa of wrongdoing
SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.
Read Fin24's top stories trending on Twitter: Fin24’s top stories
