European Union banks will be forced to boost capital, disclose more information on their activities than ever before, and face tougher scrutiny of how they measure risks, after lawmakers formally endorsed a law to overhaul the bloc’s financial rulebook.
Brazil, Russia, India, China and South Africa are unlikely to agree on starting a common foreign-currency pool to ward off balance-of-payment or currency crises at a meeting next week, South African Trade Minister Rob Davies said.
South Africa’s recovery from its first recession in 17 years remains fragile and uneven, and structural changes are needed to place the economy on a sustainable growth path, Trade Minister Rob Davies said.
South African Trade Minister Rob Davies said there is a “very widely held view” that the country needs a more competitive and stable currency, and a decline in the value of the euro is hurting exports.
Members of South Africa’s Food and Allied Workers Union staged a march today and asked the country’s Trade and Industry Ministry to impose tariffs on chicken imports from the European Union and Brazil.
South Africa won’t support a scaled- down version of World Trade Organization talks that departs from the developmental mandate of the Doha round of discussions, Trade and Industry Minister Rob Davies said.