S Africa: Ramaphosa admits rampant graft during time as Zuma VP

South African President Cyril Ramaphosa acknowledges there was rampant state corruption while he was deputy to former president Jacob Zuma, but says he did not resign as that would have hampered his efforts to resist the rot. Ramaphosa was appearing before a judicial panel on Wednesday probing the alleged mass looting of state coffers during…

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China’s anti-corruption watchdog eyes new target: alcohol

China should reduce business drinking and replace it with “correct values,” the Chinese Communist Party’s anti-corruption watchdog said in a commentary on a sexual assault case involving employees with Alibaba Group Holding Ltd. Some “under the table rules” such as forced drinking for business purposes may lead to crimes, the Central Commission for Discipline Inspection…

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Delays drive Great Wall Motor to pare India investment: Report

Great Wall Motor has decided to re-allocate to Brazil a portion of its $1bn investment in India, as the Chinese automaker has been unnerved by a year-long delay in winning government approvals, three sources told Reuters. Great Wall has also tasked James Yang, its India president since last year, with the responsibility of assisting with…

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After long ban, Boeing 737 MAX tests its wings in China: Report

A Boeing 737 MAX test plane took to the skies in China as the United States manufacturer looks to end a nearly two-and-a-half-year regulatory grounding of the model in the key travel market. Flight-tracking website Flightradar24 showed a 737 MAX 7 test plane taking off from Shanghai’s Pudong International Airport at 9:24am (01:24 GMT) on…

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Coinbase warns of upcoming slowdown even as profit jumps

US cryptocurrency exchange Coinbase Global Inc beat market estimates for second-quarter profit boosted by a near 38 percent jump in trading volumes on a sequential basis, but forecast a drop in current-quarter volumes. Coinbase, which makes money by charging fees on trades and which has benefitted from the growing adoption of digital assets, said on…

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COVID-19: Stakeholders say MSMEs critical to economic recovery

Stakeholders have called on government at all levels to deepen their commitment to building resilience in the Micro, Small and Medium Enterprises as the subsector was critical to the economic recovery of the country. The stakeholders made this call at a national dialogue on the economic impact of COVID-19 and assessment of national, state recovery…

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