New regulations will require investors to bear the risk of South African bank failures.
Citigroup expects more banks in Africa’s largest economy to go to market in order to take advantage of lending opportunities.
The commodity giant is puportedly trying to cut debt costs by looking for a R160-billion loan.
South Africa could have greater investor inflows should we list local government bonds in Citigroup’s world government bond index.
Citigroup faces a day of reckoning in court over its selling of financial instruments in the run-up to the subprime mortgage crisis.
Citigroup posted a $1,3-billion quarterly profit on Tuesday, as losses on bad loans fell.
Citigroup was profitable in the first two months of 2009 and is confident about its capital strength, chief executive Vikram Pandit said.
American International Group is close to a deal with the United States government that would ease the terms of its bailout.
The US government will boost its stake in Citigroup to as much as 36%, bolstering the bank’s capital base in the latest effort to save the bank.
The US vowed to prop up ailing banks if needed, with the government set to take a bigger stake in Citigroup and inject yet more cash into insurer AIG.
Citigroup is in talks that could result in the United States government increasing its stake in what was the country’s most valuable bank.
Glut expected on market as demand plummets for 2008’s must-have executive perk.
South African bonds overlooked a weaker rand to open firmer on Friday after credit extension and money supply data surprised to the downside.
SA’s PPI slowed to an 11-month low of 11% year-on-year in December, lending further weight to the case for an aggressive interest-rate cut next week.
Ailing US banking giant Citigroup reported on Friday that it was splitting into two businesses to restore profitability.
Bank of America was rescued by the US government on Friday through a -billion bailout.
Citigroup and Bank of America faced new doubts over their ability to fund their massive losses as their shares sank on Wednesday.
Policymakers facing mounting job losses prepared new measures to ease the pain on Monday.
Barack Obama on Monday promised an extraordinary multibillion-dollar economic package to deliver a jolt to the United States.
Asian stocks soared on Tuesday after stellar gains on US and European markets as investors welcomed a rescue of US States banking giant Citigroup.
