China’s Qingdao Port is counting industrial metals held in some of its bonded warehouses to determine if they match the amount in documents pledged to banks as collateral for loans, said three people with direct knowledge of the probe.
Standard Bank Group Ltd. and MTN Group Ltd. are scheduled to go to South Africa’s second-highest court on Aug. 1 to defend themselves in a technology supplier’s lawsuit over a credit-card security feature.
Standard Bank Group Ltd. may sell its stake in Russia’s Troika Dialog for $360 million, Johannesburg’s Business Day newspaper reported, citing a report from Renaissance Capital and Russian media reports.
Royal Bank of Scotland Group Plc, Commerzbank AG and Standard Bank Group Ltd may be betting Dubai will improve terms on a $10 billion debt restructuring to protect its reputation after a near default in 2009.
China Railway Group Ltd. , the world’s second-largest publicly traded heavy construction company, said it is in talks with South Africa’s government for a $30 billion high-speed rail project between Johannesburg and the eastern port city of Durban.
Standard Bank Group Ltd. and Nedbank Group Ltd. are the largest lenders to mining companies in South Africa, where two months of labor disputes have shut operations, killed more than 40 people and left thousands without jobs.