Gold ticked up to around $1,660 an ounce on Monday after the euro firmed against the dollar, but wary investors stayed on the sidelines as last-ditch attempts by U.S. lawmakers to resolve a fiscal crisis seemed to be getting nowhere.Lawmakers pushed the United States to the edge of the "fiscal cliff" as they struggled to reach a last-minute deal that could prevent the world's largest economy...
Zambia extends deadline for new bank capital rules
Labels: BusinessZambia's central bank has extended a deadline for commercial banks to meet new minimum capital requirements by a year to December 31, 2013, saying it was satisfied with progress made so far.Zambia raised its capital requirements for foreign banks to $100 million from $2 million this year to insulate its banking sector from the effects of a weak global economy.The capital requirement for local banks...
S.Africa stocks up 22 pct in 2012 on retail surge
Labels: Business South African stocks ended the year near record highs on Monday, after a 22 percent surge that marks their best annual return since 2009, lifted by a runaway performance from the booming retailing industry.Equities in Africa's biggest economy have confounded market watchers this year, as shares largely shrugged off lacklustre economic growth and three months of crippling strikes in the crucial...
China to keep prudent monetary policy in 2013: central bank
Labels: Business China will stick to a prudent monetary policy next year and keep consumer prices stable, its outgoing central bank governor, Zhou Xiaochuan, said on Monday, in fresh sign that Beijing won't be changing direction when the new government takes over in 2013.Reiterating China's long-stated vow to reduce the level of central planning in its economy and make room for more market forces, Zhou also...
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British retailers start online sales early
Labels: technologyBritish retailers have brought forward their Christmas clearance sales online in the hope that shoppers will log on to buy bargains and offset lackluster spending in stores.Marks & Spencer launched its sale online at midday on Monday, it said on its website, while department store John Lewis said it would cut online prices when its stores close at 1700 GMT. Debenhams has already started its online...
China may require real name registration for internet access
Labels: technologyChina may require internet users to register with their real names when signing up to network providers, state media said on Tuesday, extending a policy already in force with microblogs in a bid to curb what officials call rumors and vulgarity.A law being discussed this week would mean people would have to present their government-issued identity cards when signing contracts for fixed line and mobile...
Tajikistan blocks scores of websites as election looms
Labels: technology Tajikistan blocked access to more than 100 websites on Tuesday, in what a government source said was a dress rehearsal for a crackdown on online dissent before next year's election when President Imomali Rakhmon will again run for office.Rakhmon, a 60-year-old former head of a Soviet cotton farm, has ruled the impoverished Central Asian nation of 7.5 million for 20 years. He has overseen constitutional...
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