Author: Charlotte

South Africa is stepping up its fight against illicit trade as the government, The South African Revenue Service (SARS) , and other state agencies increase enforcement action and warn that illegal goods are damaging the economy.The  Revenue Service recently seized goods worth an estimated R245 million in coordinated operations in parts of the North West province. More than 170,000 items were confiscated during raids in Rustenburg, Brits, Marikana and Hartbeespoort.SARS said the operation is part of ongoing efforts to stop smuggling, counterfeit goods and tax evasion, adding that it also identified several businesses for further investigation as authorities focus on…

“Debt-oriented schemes witnessed significant redemptions of approximately Rs 97,000 crore in May, led by outflows from the shorter end of the curve, particularly liquid, overnight, and money market funds. The withdrawals were driven by tighter liquidity conditions, which pushed short-term yields higher. Elevated bank CDs and securities paper supply further weighed on the short end of the market,” said Umesh Sharma, CIO – Debt, The Wealth Company Mutual Fund. Source link

Binance founder Changpeng “CZ” Zhao said crypto is “absolutely not” dead, while stepping back from timing a “super cycle” as Bitcoin (BTC) trades near $64,000. Key Points: CZ said he cannot predict when a crypto “super cycle” will arrive. He rejected the idea that the industry could die after the latest downturn. Bitcoin remains near resistance after sliding from a recent move toward $80,000. CZ Super Cycle Zhao addressed his earlier super cycle comments in a recent interview, after being asked about remarks from four months ago that 2026 could bring a major crypto upswing. The interviewer said Bitcoin had…

Australia will bowl first as they seek to finish the ODI series on a positive note having already lost the series, with Marnus Labuschagne insisting the visitors did not underestimate Bangladesh’s firepower, particularly with the ball.  Australia made two changes for the third ODI with Matt Short dropped after three successive ducks going back to the third ODI against Pakistan in Lahore, while Nathan Ellis has been managed after playing all five ODIs of the tour so far.  Ben Dwarshuis comes in to the attack for his first game of the tour while young-gun Oliver Peake has been recalled to…

The NBA Finals have been a veritable parade of celebrities. The usual suspects have been in attendance: Ben Stiller, Spike Lee, Timothee Chalamet. But so have a few surprise cameos including Taylor Swift, HAIM, Benson and Stabler. We can add a royal to the mix and guess what, he chose San Antonio instead of New York. Though “relegated to the 8th row” as Page Six put it, Prince Harry sat with the NBA League Commissioner Adam Silver. The royal attended the game with US Army veteran and Purple Heart Warrior Games athlete, JP Lane, per reports. No word on who he’s cheering…

Key PointsBitcoin is facing a crisis of confidence at the moment.There’s a swath of different issues that its detractors point to as being reasons to sell it.All those reasons are inherently short-term or otherwise non-permanent.Every Bitcoin sell-off arrives with its own funeral procession. Bitcoin(CRYPTO: BTC) has shed about 21% in a month, and, right on cue, the eulogies are back.The most common reasons people cite for Bitcoin being dead are that lots of exchange-traded fund (ETF) capital is exiting, which has coincided with sentiment being extremely grim for months on end. That’s before even discussing Strategy, which is supposedly the…

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. High net worth individuals — typically those with $1 million or more in investable assets — held large portions of their total portfolio in cash in 2024. According to a survey conducted by Goldman Sachs, wealthy individuals park roughly 20% of their net worth in cash and cash equivalent holdings (1). Higher market volatility and fears regarding persistently high inflation levels are a few major contributors to the shift away from equities and bonds. Top Picks The ultra-rich use these 5 real estate strategies…

Alts take the lead Alternatives have now surpassed public US equity as the single largest allocation in endowment and foundation portfolios, representing 36% of assets under management compared to 27% for domestic stocks. But the build-out phase appears largely complete. Fewer organizations plan to increase alternatives exposure over the next 12 months, and the proportion planning to reduce allocations has more than doubled since 2023. “The survey results indicate that endowments and foundations are entering a new phase of portfolio management, where liquidity, spending discipline and governance are just as important as long-term returns,” said Jeremy France, head of Institutional…

Saturday, 13 June 2026 19:31 By ARN News Staff WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan discussed ways to deepen cooperation with Mozambique during a phone call with President Daniel Chapo on Saturday. The two leaders explored opportunities to expand collaboration in key sectors including investment, renewable energy, economic development and sustainability. They also reaffirmed their commitment to strengthening bilateral relations and advancing development partnerships that support long-term growth and prosperity in both countries. The discussion focused on enhancing cooperation in areas of shared interest and supporting the development priorities of the UAE and Mozambique. UAE…

‘Everyone raps about gangs and knives, but why not rap about farms and sun?’Lucas Ruiz is building a completely new life for himself(Image: Lucas Ruiz)A Newport man says a “lucky” cryptocurrency investment helped him leave behind a troubled past and start a new life running a small farm in Spain.Lucas Ruiz from Pill said his crypto funds multiplied in 2024 and used the money to purchase a piece of land near the Portugal border last year.Currently non-arable land, Luke said he is working hard to turn it into a working farm that he hopes will help the local community. He…