Banking Sector
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South African Reserve Bank Revised GDP Forecast

South African Reserve Bank Revised GDP ForecastThe GDP forecast for South African economy was revised down for 2015 and 2016; however it remained unaltered for 2017. Property market is also expected to be indecisive as the industry warns of an unsteady housing market.

Timothy Sloan Promoted as Chief Operating Officer and President by Wells Fargo, Paving way for Future Leadership

Timothy Sloan Promoted  as Chief Operating Officer and President by Wells Fargo, Paving way for Future LeadershipTimothy Sloan, 55, has been with Wells Fargo & Co for twenty eight years and on Tuesday, the lender promoted him to the chief operating officer and president's post. That will allow him greater authority over more businesses. It also makes him the potential successor of the present CEO some day.

Kenya Central Bank Worried as Imperial Bank Share Holders Delay Proposal which might Revive the Lender

Kenya Central Bank Worried as Imperial Bank Share Holders Delay Proposal which might Revive the LenderOn Friday, the central bank of Kenya said it was worried that the Imperial Bank's shareholders were not taking quick actions to suggest proposals that will revitalize the medium sized lender. Last month, the privately owned bank was ordered by the Central Bank of Kenya

Reportedly Apple in Talks with U.S Banks on Developing Mobile Person-to-Person Payment Service

Reportedly Apple in Talks with U.S Banks on Developing Mobile Person-to-Person Payment ServiceMoney transaction systems are becoming easier day by day and according to sources familiar with the matter, Apple Inc. is discussing to develop a payment service with the U.S banks. The system will permit users to transfer money to each other's account through phones rather than depending on either cash or checks.

New Savings Plan, myRA Encourages Retirement Saving

New Savings Plan, myRA Encourages Retirement SavingThe U. S federal government is promoting myRA, a new savings plan which the U. S. Treasury Department has designed to assist citizens save money risk-free way for those who do not have a retirement plan.

The plan has been tested and is known as "myRA" or My Retirement Account.

World Bank says Africa Should Move Ahead with Plans of Developing Transport and Energy Networks

 World Bank says Africa Should Move Ahead with Plans of Developing Transport and Energy NetworksOn Friday, the World Bank said that Africa should move ahead with its plans of developing its transport and energy networks although a slowdown plagued its GDP growth. Better infrastructure is the main ingredient that attracts long term developments according to the head of the World Bank.

New President of African Development Bank Pushes for Energy Access and Better Infrastructure

New President of African Development Bank Pushes for Energy Access and Better InfrastructureAkinwumi Adesina, the new president of African Development Bank said that Africa should make an effort to achieve widespread access to electricity in the coming ten years and also accelerate its process of transformation itself to a continent which exports finished goods and not just the raw materials.

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