Economic crisis threatens Aids fight

Bangkok – The global financial crisis could wipe out years of progress in fighting the spread of HIV and Aids and treating patients, a leading authority on the disease warned on Monday. Michel Kazatchkine, executive director of the Global Fund to Fight Aids, Tuberculosis and Malaria, said he was “very concerned” that international donors would be unable to meet their pledges.

More

SA stands out in fight against financial crime

South Africa is in a very fortunate position at this time of the worst global financial crisis in recent history. Our banks have not seen the same sort of liquidity crunch experienced by those in countries such as the US and the UK, let alone Iceland.

Yet although international credit rating agencies are not racing to upgrade local banks, they will find solace in yet another thumbs-up to South Africa from an international body.

In a report released last week by the Financial Action Task Force, the Paris-based body commended South Africa for “its strong commitment” and its “good progress in developing its anti-money laundering system”.

More

Relieved investors help lift rand

Johannesburg – The rand remained firm on Monday and could break R9.00 to the US dollar. At 8.55am the rand was bid at R9.0116 to the dollar from an overnight close of R9.0310. It was bid at R12.2080 against the euro from a previous R12.2020 and at R13.4548 to the pound from R13.4085 before. The euro was bid at $1.3529 from $1.3514 overnight. RMB analysts said in their morning report that local political risk is set to diminish on Monday as, by all newspaper accounts, the NPA looks likely to drop charges against ANC leader Jacob Zuma.

More