For the first time, South Africa President Jacob Zuma had a challenge about his leadership.
The loss is combined from its corporate service unit and its three refineries. The total annual loss was consistent with the company's continuing monthly loss over the past year. Nigeria, as Africa's biggest economy and largest oil producer, has been greatly suffered the oil prices fall.
Nigeria is one of populated country in Central Africa. The country is rich with the natural resources like oil and gas. But it faces a serious problem, that is corruption
The labor market in Brazil, one of the BRICS (Brazil, Russia, India, China and South Africa) nations, is fast worsening owing to intensifying recession in the domestic economy. The unemployment rate rose to 7.6 percent from the record low of 4.3 percent at the end of 2014. Many industrial estates in Brazil are running down signaling next big crisis for the economy.
Several countries including the US told a global anti-money laundering organization that they should delete the public warning it had given last June to various financial institutions regarding corruption in soccer.
Prime Minister Narendra Modi recruited executives from the private sector to head two of the biggest state-owned banks, making it the first such appointments in a wide-range reform strategy to challenge the dominant but often inefficient lenders backed by the government.
Sri Lanka's President Maithripala Sirisena headed to Beijing on Wednesday seeking to end a stalemate over China's biggest investment project in the island which his administration has suspended over allegations of wrongdoing.
A subtle change in office attire may be the most telling symbol of a quiet revolution taking place inside Venezuela's troubled economic engine, giant oil firm PDVSA.
Brazil's President Dilma Rousseff tapped a confidant from a state-run bank to be the next head of Petrobras on Friday, chilling investor hopes that a more independent new management team would steer the oil firm out of a huge corruption scandal.
Brazilian President Dilma Rousseff, dogged by a multibillion-dollar corruption scandal at state-run oil company Petrobras, vowed on Thursday to stamp out graft at the flagship firm and place it under strict corporate governance.
An IMF mission will visit Kiev on Tuesday to start a fresh round of talks with the new government linked to a $17 billion loan package that may have to be ramped up due to the financial toll of a separatist crisis in Ukraine's east.
A widening corruption scandal at state-run oil company Petroleo Brasileiro SA may change the country forever, Brazilian President Dilma Rousseff said on Sunday in her first public remarks since a sweeping police operation last week.
China has banned private clubs in historical buildings, parks and other public facilities because they are hindering the fight against corruption, state media said on Monday, as the government broadens its anti-graft and frugality campaigns.
China is set to unveil key legal reforms this week that will try to limit the influence local officials have on court cases, a move being closely watched by company executives who hope it will make the legal system more impartial.
Jack Ma, executive chairman of Alibaba Group Holding Ltd (BABA.N), has become China's richest man with a fortune estimated at $25 billion, underscoring the ascension of tech tycoons over real estate peers in the world's second biggest economy.