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Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of...
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What is the Prime Rate?
The prime interest rate, prime lending rate, or prime overdraft rate, is a reference interest rate commercial banks use when issuing variable interest rate loans to their customers...
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The rand has dipped below R16 to the US dollar for the first time since 6 January on several drivers, including an aggressive interest rate hike on Thursday and surprisingly positive trade data on Friday...
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Wal-Mart Stores owns more than $76bn of assets through a web of units in offshore tax havens around the world, though you wouldn’t know it from reading the giant retailer’s annual report...
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South Africans are not saving for retirement. According to the 2014 Sanlam Benchmark Survey, only 29% of employed South Africans are able to maintain their standard of living when they retire...
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Africa’s Tripartite Free Trade Area (TFTA) which embraces 26 countries, a combined population of up to 600-million people and a total gross domestic product (GDP) of $1-trillion will be officially launched in Egypt on June 10, Trade and Industry Minister Dr Rob Davies said on Thursday...
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