Media Monitor

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Banks and insurers under fire

The Competition Commission is gearing up to play hardball with banks and insurance companies, saying on Thursday that the days for talking were past and it had prioritised the financial services sector for “enforcement”. 

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The Central Bank of Egypt’s (CBE) lowers interest rates 1% for the first time since floatation

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided to lower the overnight deposit rate, the overnight lending rate, and the rate of the Central Bank of Egypt’s (CBE) main operation by 100 basis points to 17.75%, 18.75%, and 18.25% respectively. The discount rate was also reduced by 100 basis points to 18.25%. According to a statement issued by the CBE on Thursday. 

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Ramaphosa offers South African miners light at end of tunnel

Executives who descended on Cape Town last week for the annual Investing in African Mining Indaba expressed hope that Cyril Ramaphosa, the party’s new leader, will be able to break the deadlock over controversial new mining laws and create a more business-friendly environment.

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