Legal & Regulatory
PSE To Formulate Market Friendly Laws Facilitating DDS Transactions
PSE has been seeking comments and suggestions on its proposed law for transactions of DDS. The procured comments and suggestions will be evaluated while drafting the rule, aiming to reflect market demands. Comments and suggestions may be sent up to March 22.
South African Currency Slumped as Finance Minister to Resign Over a Spat With Tax Commisioner
South Africa’s currency has dropped to its four-year low after the news of the country’s finance minister threats of resignation was reported. Finance minister Pravin Gordhan threatens to resign over a spat with Tom Moyane, as the minister demanded the tax commissioner to be dismissed, or he himself would leave.
Fraudulent Oil Fund Sentenced Iranian Billionaire to Death, 2 Others
Iranian tycoon Babak Zanjani and 2 others have been convicted and sentenced to death since they are considered as "corruptor on earth" under Iran's Islamic Penal Code. They have embezzled $2.7 billion and have to pay it back.
Uber Spends and Losses Big on International Expansion, Challenged by Regulations and Rivalry
An official filing revealed that Uber is facing huge loss in its international operation, as the company spent big on global expansion. The main factors of the loss are regulatory obstacles and local rivalry.