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Newpaper24 - Global online News around the World _100023341_gupta South Africa's Zuma disaster: Gupta dwelling raided by police - NEWPAPER24  Newpaper24 - Global online News around the World _100023341_gupta South Africa's Zuma disaster: Gupta dwelling raided by police - NEWPAPER24

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South Africa’s Zuma disaster: Gupta dwelling raided by police – NEWPAPER24

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South Africa’s Zuma disaster: Gupta dwelling raided by police

2018-02-14 11:08:34

Picture copyright EPA
Picture caption The household’s walled Johannesburg compound was topic to an early morning search by elite police

South Africa’s elite police unit has raided the controversial Gupta enterprise household’s dwelling, as strain will increase on President Jacob Zuma to resign.

Three arrests have been made, together with one Gupta brother, native media report. Police say two different individuals are anticipated at hand themselves in.

It comes as Mr Zuma’s personal get together gave him till the tip of the day to face down, or face a no-confidence vote.

His hyperlinks to the Guptas are one of many causes he’s being pressured to resign.

The household has been accused utilizing their shut friendship with Mr Zuma to wield huge political affect.

The Guptas and Mr Zuma all deny the allegations.

  • Africa Reside: Finance minister warns Zuma he could possibly be voted out
  • How the Guptas’ model turned poisonous in South Africa

The president was anticipated to reply on Thursday to a proper request from the African Nationwide Congress (ANC) to step down.

Nevertheless, the state of affairs has escalated, with the governing African Nationwide Congress (ANC) chief whip, Jackson Mthembu, saying parliament will elect Cyril Ramaphosa as the brand new president tomorrow, if the chief justice is offered to swear him in.

Mr Ramaphosa was elected ANC president in December, changing Mr Zuma.

Mr Zuma’s time period as nationwide president is because of expire subsequent 12 months.

Why was the Gupta’s home raided?

The chief whip of the opposition Democratic Alliance John Steenhuisen earlier informed the Newpaper24 the arrests have been effectively timed.

“I feel the arrests this morning have been a warning shot fired throughout the bows of Mr Zuma’s camp to say that ‘Look for those who do not step down and resign, this might effectively be taking place to you.'” he mentioned.

Based on a press release launched by the Hawks – the police’s elite high-priority crimes unit – the raids have been carried out in reference to the Vrede farm investigation.

That investigation pertains to the Estina dairy farm close to Vrede, within the Free State, a venture which was initially meant to assist poor black farmers however from which the Gupta household are alleged to have pocketed hundreds of thousands of , allegations they deny.

A tranche of leaked emails launched final 12 months alleged that among the cash ended up paying for the household’s lavish marriage ceremony at Solar Metropolis, South Africa’s upmarket vacation resort.

In January, the Hawks raided the places of work of the Free State Premier, Ace Magashule, on the lookout for paperwork linked to the venture. Mr Magashule was elected secretary-general of the ruling African Nationwide Congress (ANC) in December.


On the scene: Cheers and insults

By Andrew Harding, Newpaper24 Information, Saxonwold, Johannesburg

Early this morning, because the plush suburb of Saxonwold was waking up – gardeners strolling canine, kids being taken to high school in 4x4s – armed police arrived on the huge, high-walled, Gupta compound reverse the lion enclosure of Johannesburg Zoo, sealing off a bit of the highway, and venturing inside.

Quickly afterwards, two luxurious automobiles have been seen driving out of the gates escorted by police in separate automobiles.

The Hawks – the elite high-priority crimes unit – confirmed that this was an operation to arrest suspects, reasonably than to raid properties.

A blue police helicopter swung over the property, as native folks voiced satisfaction in regards to the police motion.

“It is very emotional for all South Africans. That is about getting South Africa proper once more,” mentioned Tessa Turvey.

“That is actual significant change. I definitely do not suppose it will have occurred if Zuma was nonetheless president of the ANC,” mentioned a person, strolling his canine.


Who’re the Gupta household?

The embattled Gupta household personal a variety of enterprise pursuits in South Africa, together with computing, mining, air journey, power, expertise and media.

The three brothers, Atul, Rajesh and Ajay, moved to the nation in 1993 from India, simply as white-minority rule was ending.

They’re recognized associates of President Zuma – and his son, daughter and one of many president’s wives labored for the household’s corporations.

The brothers have been accused of wielding huge political affect in South Africa, with critics alleging that they’ve tried to “seize the state” to advance their very own enterprise pursuits.

What are the allegations towards the Guptas?

Former Deputy Finance Minister Mcebisi Jonas made a public allegation in 2016 that he was provided 600m rand ($50m; £36m) by the Gupta household to be the subsequent finance minister – so long as he did their bidding.

It was adopted by a damning report by a South African authorities ombudsman that accused the Guptas and President Zuma of colluding to win authorities contracts.

The general public backlash worsened in 2017 when greater than 100,000 emails have been leaked which appeared to indicate the extent of the household’s affect.

It steered a posh internet of presidency contracts, in addition to alleged kickbacks and cash laundering.

It prompted marches and public protests towards the household and President Zuma, dubbed the “Zuptas”.

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Hong Kong’s JETCO newest to supply cashless funds with smartphone-based platform – NEWPAPER24

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Newpaper24 - Global online News around the World aa67e43a-0cdd-11e8-a09e-8861893b1b1a_image_hires_225921 Hong Kong’s JETCO newest to supply cashless funds with smartphone-based platform - NEWPAPER24

Hong Kong’s JETCO newest to supply cashless funds with smartphone-based platform

2018-02-08 14:59:25



Hong Kong money machine community operator Joint Digital Teller Providers (JETCO) has joined the frenzy of firms providing cashless funds with the launch on Thursday of a smartphone-based service provider cost system.

Clients will have the ability to pay retailers with their smartphones by scanning QR codes, a characteristic of mainland opponents Alipay and WeChat Pay, which dominate the cellular cost market in China.

JETCO’s platform joins old school bank cards, the pay as you go Octopus card, Apple Pay, Samsung Pay in addition to the mainland Chinese language operators in an more and more crowded cashless cost world in Hong Kong. The corporate had already launched a peer-to-peer cash switch service in April 2016.

“We wish to obtain a cashless society in Hong Kong by penetrating the small cash-and-cheque shops, which nonetheless characterize 40 per cent of town’s outlets, corresponding to cha chaan teng [tea restaurants],” stated Angus Choi, chief govt officer of JETCO.

Hong Kong lags behind mainland China within the adoption of cashless cost strategies, partially due to the next share of bank card holders within the metropolis and the recognition of the Octopus card amongst retailers.

“It’s going to take some time,” Choi stated. “The important thing precedence is to coach Hong Kong customers in utilizing cashless cost strategies.”

Hong Kong gradual to go cashless? Blame success of Octopus card, minister says

Cardholders of eight banks, together with Financial institution of East Asia and Financial institution of Communications (Hong Kong), can obtain the JETCO cellular utility and pay any vendor by scanning its QR code, both an digital one on the display or a sticker.

Clients will even have the ability to use the cost choice in on-line procuring, by selecting it when settling payments and getting into a password within the JETCO Pay utility. Contact ID and Face ID shall be obtainable to finish transactions within the coming months, Choi stated. Extra member banks are set to affix later this 12 months.

The day by day most transaction quantity for the app is HK$5,000 (US$640), a restrict set by the Hong Kong Financial Authority for web banking accounts.

“[It is] not sufficient and we’re speaking with the authority to extend that restrict, as a result of funds are very totally different from peer-to-peer transactions,” Choi stated.

JETCO operates about three,000 ATMs in Hong Kong, Macau and mainland China. The community has round 30 member banks, embody Financial institution of China (Hong Kong), Financial institution of Communications (Hong Kong), Financial institution of East Asia, and Citibank.



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350 million banknotes price HK$10 billion: Hong Kong’s love affair with lai see money  – NEWPAPER24

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Newpaper24 - Global online News around the World c2d5ee80-1300-11e8-949a-3357302fbab7_image_hires_131316 350 million banknotes price HK$10 billion: Hong Kong's love affair with lai see money  - NEWPAPER24

350 million banknotes price HK$10 billion: Hong Kong’s love affair with lai see money 

2018-02-17 04:04:47



Regardless of the recognition of bank cards and cell funds, folks in Hong Kong persist with money for lai see packets. 

This contributes to a requirement for about 350 million banknotes price nearly HK$10 billion (US$1.28 billion) simply inside the two weeks earlier than Lunar New Yr yearly, based on the Hong Kong Financial Authority. 

What’s altering is that some financial institution clients are keen to simply accept notes that aren’t newly printed, with about half prepared to simply accept used banknotes in good situation for his or her lai see packets.

“Since 2006, the HKMA has been advocating using good-as-new notes for lai see due to environmental issues. Due to the help of the general public and the note-issuing banks, the Share of good-as-new notes issued within the run-up to every Chinese language New Yr has elevated from 20 per cent in 2006 to about 45 per cent lately,” stated an authority spokeswoman. 

HSBC, Customary Chartered Financial institution and Financial institution of China (Hong Kong), town’s three note-issuing banks, stated they’ve recorded a rise within the variety of folks utilizing good-as-new notes for lai-see, a follow that’s extra environmentally pleasant.

To fulfill the demand for forex notes, many banks lengthen opening hours about two weeks forward of Lunar New Yr for purchasers, who queue as much as trade previous notes for brand new ones. Senior members of households give lai see packets to youngsters and single folks as a approach of giving them blessings.

Most firms and senior administration additionally give lai see packets to their employees as a blessing on their first day again at work after the Lunar New Yr break.

Making new banknotes for lai see isn’t environmental pleasant because it requires 532 tonnes of cotton to supply 400 million banknotes, which occupy 666 cubic metres of space for storing – sufficient to fill 26 20-foot containers, based on statistic supplied by the financial authority. 

With extra folks now accepting used banknotes in good situation, the necessity for printing new banknotes has been minimize by 45 per cent, or about 160 million items, saving greater than 200 tonnes of cotton in consequence.

Since 2006, the HKMA has been advocating using good-as-new notes for lai see due to environmental issues

HKMA spokeswoman

Banks have additionally developed digital lai see for shoppers. HSBC simply launched a lai see characteristic in its PayMe app, which permits customers to ship pink packets with private messages. The Financial institution of East Asia was the first in Hong Kong to launch digital lai see, known as i-Laisee, earlier than Lunar New Yr in 2016. However these have performed little to decrease demand for banknotes.

“The demand for banknotes for lai see packets is powerful and just like earlier years,” stated a spokeswoman for Financial institution of East Asia. She stated HK$20 banknotes had been the preferred. 

“Though the development of utilizing i-Laisee is rising annually and we foresee an increasing number of folks, particularly tech-savvy clients, utilizing i-Laisee, it’s nonetheless too early to say it may substitute the normal lai see packet,” she stated.

“Though an rising variety of persons are distributing digital lai see, bodily lai see with banknotes of HK$20 or HK$50 in pink packets stays a preferred Chinese language conventional follow. We don’t see digital lai see changing bodily lai see any time quickly,” stated a Financial institution of China (Hong Kong) spokeswoman.



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Uganda Challenged to Enhance Espresso High quality – NEWPAPER24

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Newpaper24 - Global online News around the World aa-logo-rgba-no-text-128x128 Uganda Challenged to Enhance Espresso High quality - NEWPAPER24

Uganda Challenged to Enhance Espresso High quality

2018-02-17 15:08:01


Uganda has been tasked to enhance its espresso high quality if it needs to promote its product at a premium worth on the worldwide market.

Audio system on the just-concluded African Fantastic Espresso convention held at Serena resort in Kampala noticed that whereas Uganda was upping its espresso manufacturing ranges, its Robusta and Arabica coffees acquired unfavorable differentials on the world market due to poor high quality.

This implies it fetches much less cash than it will have if it was rated positively.

Agriculture minister Vincent Ssempijja stated the nation was decided to work on espresso high quality. He stated it’s only then that the nation can promote its espresso at a premium.

Poor high quality for Ugandan espresso comes as a result of farmers choose inexperienced bellies. The opposite drawback is poor post-harvest dealing with, the place farmers dry cofee on naked floor – which impacts the eventual class of the espresso.

Konrad Brits, the director of Falcon Coffees in UK, stated “Ugandan farmers haven’t been taught deal with their espresso. The dealing with may be very poor, ensuing into the unfavorable differentials we see immediately.”

Uganda is the second greatest producer of espresso in Africa after Ethiopia. The nation produced four.6 million baggage as at finish of final 12 months, in line with the Uganda Espresso Growth Authority (UCDA).

The nation fetched as much as $500m after the cash-crop’s costs edged up.

As at January 31, 2018 the common worth ranged between 115 US cents per pound (zero.45kg) and 143.77 US cents, in line with the Worldwide Espresso Organisation (ICO). Robusta offered at 88 US cents.

The difficulty of local weather change was additionally raised as one of many challenges already beginning to impression manufacturing. That it additionally impacts uniqueness and flavour.

Judith Ganes, President of J. Ganes Consulting LLC, a commodity advisory providers agency, stated: “Some small espresso producing nations are getting extinct and not as related to the market.”

She stated world espresso manufacturing was going up frequently however the smallest espresso producers aren’t capable of sustain.

“A lot of the smallest producers are right here in Africa,” she stated. This might be as a result of they nonetheless rely upon archaic methods to develop the crop – reliant on rain, work with out fertilizers and have smaller farms that do not make any financial sense.

Ganes added that whereas quite a lot of provide is prone to come from Brazil subsequent 12 months, the market already is aware of what’s there and it’s already factored into the present international costs. This implies the worldwide espresso costs are unlikely to considerably hunch within the subsequent two years.

International locations like Uganda can take this benefit to money in on the excessive costs.

Uganda has just lately gone on a attraction offensive to extend espresso manufacturing by distributing free seedlings to farmers. The nation tasks its manufacturing to achieve 20 million baggage yearly within the early 2020s.

Whereas this may doubtless improve earnings, it is not going to be sufficient if farmers aren’t taught higher agronomical practices.



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