The rand is undervalued and there’s scope for the currency to strengthen to as much as R11/US$, said Colin Coleman, head of sub-Saharan Africa at Goldman Sachs Group.
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Cryptocurrencies dropped sharply for the second time in less than 24 hours, sinking toward a nine-month low amid concern that broader adoption of digital assets will take longer than some anticipated.
The market’s biggest digital coins dropped sharply on Wednesday amid a report that Goldman Sachs Group is pulling back on near-term plans to set up a cryptocurrency trading desk.
Jia Yueting has all the trappings of a successful Chinese tech entrepreneur with global ambitions. A self-made billionaire who got his start as the IT guy at his local tax bureau, Jia’s flagship Internet video company now sports a US$15bn market capitalisation