MKAZI WA KINONDONI AWA MMLIKI MPYA WA UCHUMI SUPERMARKETS TANZANIA

Mkurugenzi Mkuu wa Uchumi Supermarket (Afrika mashariki), Jonathan Ciano (kulia) akimkaribisha Mkuu wa Mkoa wa Dar es Salaam, Said Meck Sadik katika ufunguzi wa Tawi jipya la Uchumi lililoko Mbezi Kawe karibu na ukumbi wa Rainbow-Mbezi chini jijini Dar es Salaam.

Mkuu wa Mkoa wa Dar es Salaam, Said Meck Sadick akiongea na wasambazaji na wafanyakazi wa Uchumi Supermarket wakati wa uzinduzi wa tawi jipya lililopo Mbezi-Kawe jijini Dar es Salaam. Hafla hiyo ilifanyika katika tawi hilo Mbezi-Kawe karibu na ukumbi wa Rainbow-Mbezi chini jijini Dar es Salaam.

Mbunge  wa Nyamagana Mwanza Ezekiel Wenje (katikati), akichagua moja ya tiketi katika shindano la kumtafuta mshindi wa shindano lijulikanalo kama "Mimi Mwana Hisa". Kulia ni mkaguzi mwandamizi toka bodi ya michezo ya kubahatisha Emmanuel Ndaki, na kushoto ni Mkurugenzi Mkuu wa Uchumi Supermarket (Afrika mashariki), Bw. Jonathan Ciano. Hafla hiyo ilifanyika katika tawi  jipya la Uchumi lililopo Mbezi-Kawe karibu na ukumbi wa Rainbow-Mbezi chini jijini Dar es Salaam.

Mbunge  wa Nyamagana Mwanza, Ezekiel Wenje (katikati), akinyosha juu  moja ya tiketi katika shindano la kumtafuta mshindi wa shindano lijulikanalo kama "Mimi Mwana Hisa". Kulia ni mkaguzi mwandamizi toka bodi ya michezo ya kubahatisha, Emanuel Ndaki  na kushoto ni mkurugenzi wa Uchumi Supermarket, (Afrika mashariki) Jonathan Ciano  na Mkuu wa Mkoa wa Dar es Salaam Said Meck Sadick, ambapo Elizabeth Robert  aliibuka mshindi wa shindano hilo. Hafla hiyo ilifanyika katika tawi  jipya la Uchumi lililopo Mbezi-Kawe karibu na ukumbi wa Rainbow-Mbezi chini jijini Dar es Salaam.

Mkaguzi mwandamizi toka bodi ya Michezo ya kubahatisha Emmanuel Ndaki, (kulia), akionyesha namba ya mshindi wa "Mimi Mwanahisa”. Katikati ni Mbunge wa Nyamagana Ezekiel Wenje na kushoto ni Mkurugenzi Mkuu wa Uchumi Supermarket (Afrika mashariki) Jonathan Ciano. Elizabeth Robert  mkazi wa jiji la Dar es salaam alijishindia zawadi ya hisa zenye thamani ya milioni tano za kitanzania.

Mkurugenzi Mkuu wa Uchumi Supermarket, (Afrika mashariki) Bw. Jonathan Ciano (kushoto) akiweka Saini kwenye mfano wa hundi yenye thamani ya Tsh Milioni Tano, baada ya mkazi wa kinondoni kushindia kiasi hicho katika Shindano lililoendeshwa na kampuni hiyo lililojulikana kama “Mimi Mwana Hisa”. Kulia ni Mkuu wa Mkoa wa Dar es Salaam, Said Meck Sadick, na katikati ni Meneja Mkuu wa Uchumi Tanzania Chris Lenana na Mbunge wa Nyamagana Ezekiel Wanje. Droo hiyo ilichezeshwa katika tawi jipya la Uchumi lililoko Mbezi- Kawe karibu na ukumbi wa Rainbow-Mbezi chini jijini Dar es Salaam.

Mkuu wa Mkoa wa Dar es Salaam, Said Meck Sadick (katikati), akikata Utepe kama ishara ya uzinduzi wa tawi jipya la Uchumi Supermarket lililoko Mbezi-Kawe karibu na ukumbi wa Rainbow-Mbezi chini jijini Dar es Salaam.

Mkuu wa Mkoa wa Dar es Salaam, Said Meck Sadik na Mkurugenzi Mkuu wa Uchumi Supermarket (Afrika mashariki) Bw. Jonathan Ciano na Meneja wa Uchumi Supermark tawi la Mbezi-Kawe, Bw. Evans Munga wakikata keki baada ya uzinduzi wa tawi jipya la Uchumi lililopo Mbezi-Kawe, karibu na ukumbi wa Rainbow-Mbezi chini jijini Dar es Salaam.

Maduka makubwa yanayoongoza Tanzania ya “Uchumi supermarkets” yameendesha droo ya mwisho ya kampeni yao ijulikanayo kama “Mimi Mwanahisa promosheni” iliyofanyika katika tawi lake jipya la Mbezi-Kawe.

Hafla hiyo ilishuhudiwa na Mheshimiwa Said Meck Sadik- Mkuu wa Mkoa Dar es salaam ambaye pia alikua mgeni rasmi, Mheshimiwa Ezekiel Wenje-Mbunge wa jimbo la Nyamagana pamoja na mkurugenzi mtendaji wa Uchumi Afrika mashariki Bw. Jonathan Ciano.

INVESTORS URGE STANDARD CHARTERED TO REPLACE BOSS

Peter Sands, the boss of emerging markets-focused Standard Chartered.

Standard Chartered’s two largest investors have told the bank’s chairman, Sir John Peace, to find a replacement for the embattled chief executive, Peter Sands, within months.

The Telegraph has learned that Temasek and Aberdeen Asset Management have said a succession plan to replace Mr Sands must be put in place so that he can leave by the end of the year.

It is understood both investors, who between them own nearly a third of the bank’s shares, have made their wishes known separately in recent weeks. Singapore’s Temasek is Standard Chartered’s largest shareholder, holding a 17.7pc stake. Aberdeen is second with almost 11pc.

EXIM BANK TANZANIA DONATES SANITARY FACILITIES TO KIGOMA MUNICIPALITY

Kigoma Regional Commissioner Lt. (rtd) Issa Machibya (centre) cuts a ribbon to officially open one of the dust bins donated by Exim Bank – Kigoma Branch for them to start being used on keeping the city clean. Others are Exim Bank staff and Kigoma municipality leaders.

Exim Bank Tanzania has donated sanitary facilities to Kigoma municipality a purposive move that aims to complement the government efforts on keeping the city clean.

Speaking during the handover ceremony in Kigoma recently, Exim Bank (Kigoma) branch manager, Mr. Alphaxard Etanga, said despite being the part of the bank’s corporate social responsibility (CSR), the deliberate move aims at subsidizing the government efforts in maintaining a conducive environment for the city residents.

INDIA TURNS TO CORNER SHOPS, MOBILE PHONES FOR BANKING REVOLUTION

A woman speaks on her mobile phone after recharging it at a local stationary cum prepaid mobile recharge shop in Kolkata January 19, 2015.

(Reuters) - India is betting that mobile phone vendors, fuel stations and corner stores can help it put basic banking within the grasp of hundreds of millions of its poor people living beyond the reach of traditional bank branches.

The clock is ticking down to a Feb. 2 deadline for applications to set up so-called payments banks under new rules that would allow successful bidders to offer services such as remittances and deposits, but not loans.

The regulations announced by the central bank, the Reserve Bank of India (RBI), reflect a realization that traditional banks alone can't achieve the objective of financial inclusion championed by Prime Minister Narendra Modi.

BILL & MELINDA GATES' NEXT TARGET: BANKING

NEW YORK (CNNMoney) - Banks are among the most hated institutions on the planet.

Yet Bill and Melinda Gates believe banking -- specifically the mobile variety -- can be the source of great good in the near future, helping to lift millions of people out of poverty.

In its annual letter published on Thursday, the Bill and Melinda Gates Foundation identified mobile banking as one of four exciting breakthroughs that will help improve the lives of people in poor countries faster in the next 15 years than at any other time in history.

CALL FOR APPLICATIONS: ILFA FLAGSHIP PROGRAMME (PLACEMENTS IN LONDON, PARIS DUBAI)

Applications are invited for the 3 months' advanced training and work experience placements starting in September 2015 in leading law firms or corporate legal departments in London, Dubai or Paris.

ILFA Flagship programme facilitates interchange opportunities for African lawyers to take part in a three-month secondment programme in law offices of international law firms and corporations based in London, Paris, and Dubai. Additionally, the programme provides an academic enrichment series that incorporates training modules on various topics relevant to the African legal sector. Finally, the ILFA lawyers undergo intense seminars at the prestigious Oxford and Cambridge Universities

Applications are to be submitted online through the website www.ilfa.org

Online application will open on Monday, 2 February 2015

Deadline for applications: Thursday, 2April 2015.

KAYMU TURNS TWO WITH A PROMISE OF EXPANSION TO FURTHER SHORES

From two countries to 34; Kaymu’s two year journey so far.

January 25 marks the 2 year anniversary of Kaymu, a leading online shopping community. It’s been two years and 34 countries for Kaymu so far, which launched in Nigeria and Pakistan simultaneously and has spread rapidly through Africa, Asia and most recently, in Europe. This year will see Kaymu launching in more countries in Asia and Europe.

Kaymu’s business model and main aim is to empower local SMEs and make shopping accessible to everyone everywhere and in the process, drive the online shift in the countries it’s in. It has achieved many milestones in the last two years but has a lot of ground to cover as a start up.

NATIONAL BANK OF COMMERCE ANNOUNCES THE APPOINTMENT OF DR KASSIM HUSSEIN AS INTERIM BOARD CHAIRMAN

January 22^nd 2015: The National Bank of Commerce (NBC) wishes to announce the appointment of Dr Kassim Hussein as Interim Board Chairman. This follows the departure of Professor Mussa Assad who has been appointed as Controller and Auditor General (CAG) of the United Republic of Tanzania.

In a media statement today, NBC Interim Managing Director, Pius Tibazarwa, said that Dr Hussein will chair the NBC Board until a permanent appointment is made to succeed Professor Assad.

Dr Hussein is a senior lecturer in Banking and Finance at the Institute of Financial Managementand has served the NBC Board since 2010. He is a PhD holder in Banking and an MBA in Finance.

“We take this opportunity once again to congratulate Professor Assad on his appointment and wish him all the best in his future endeavours. We also thank him for the time he has led the NBC board with diligence and commitment. NBC is committed to the cause of supporting and strengthening financial accountability in Tanzania. We also wish Dr Kassim all the best in his new task,” Mr Tibazarwa said.

Professor Assad was appointed Controller and Auditor General (CAG) of the United Republic of Tanzania November 2014 after serving the NBC Board since 2006.

Editor’s Note:

NBC is one of the most represented retail bank in the country with over 46years’ experience in providing financial services. Apart from offering traditional banking services, NBC also prides itself with an expanded branch network of 52 branches and over 280 Visa enabled ATMs. The bank also services over 250 Points of Sales strategically located throughout the country. NBC has employed over 1,400 staff.

VODACOM M-PESA MOBILE WALLET IN SOUTH AFRICA: GEMALTO PREPAID EMV BANKING CARDS EXTEND REACH OF VODACOM M-PESA MOBILE WALLET IN SOUTH AFRICA

Gemalto prepaid EMV banking cards extend reach of Vodacom m-pesa mobile wallet in South Africa

Vodacom becomes the first mobile operator to initiate the large-scale rollout of an EMV banking card that is accepted anywhere

JOHANNESBURG, South-Africa, January 20, 2015/ -- Gemalto (Euronext NL0000400653 GTO) (http://www.gemalto.com), the world leader in digital security, announces the deployment of prepaid EMV banking cards to complement Vodacom’s m-pesa mobile wallet service in South Africa. The card is certified by the major international payment schemes and accepted at any of the 240,000 EMV-compliant payment terminals and over 27,000 ATMs throughout the country, which will significantly extend the reach of the leading South African operator’s services. 

TOYOTA STILL WORLD'S TOP AUTOMAKER WITH 10.23 MILLION CARS SOLD IN 2014

Toyota sold 10.23 million vehicles last year to remain the world's biggest automaker.

Tokyo (AFP) - Toyota sold 10.23 million vehicles last year, it said Wednesday, outpacing General Motors and Volkswagen to remain the world's biggest automaker, but a shaky outlook for 2015 could see it lose the title to its German rival.

The record worldwide annual sales figure beat Volkswagen, which logged sales of 10.14 million vehicles, and US-based GM, which said it sold 9.92 million cars last year.

But Toyota also said sales would decline this year to an expected 10.15 million vehicles, which would likely see it fall behind those of Volkswagen which is riding momentum in emerging economies that could see it take the lead in global auto sales for the first time.

ONE OF THE BIGGEST OIL COMPANIES IN THE WORLD SAYS IT WILL LAY OFF THOUSANDS

Oilfield services provider Baker Hughes Inc. said it expects to lay off about 7,000 employees, days after industry leader Schlumberger Ltd said it would cut jobs as drilling activity slows due to a steep fall in oil prices.

Global oil prices have tumbled almost 60% since June, hitting five-year lows as growing production and tepid global demand has caused a supply glut and prompted oil producers to scale back spending.

Schlumberger said last week it would cut 9,000 jobs, or about 7% of its workforce.

AUSTRALIAN MINING GIANT BHP IS SHUTTING DOWN 40% OF ITS US SHALE RIGS

A general view of Tesoro's Los Angeles refinery in Los Angeles, California October 10, 2014.

The hits keep coming for shale gas producers.

In an announcement on Tuesday night (well, Wednesday morning in Australia), Australian mining giant BHP said it would shut down 40% of its US shale oil rigs over by the end of its fiscal year.

BHP CEO Andrew Mackenzie said:

"In Petroleum, we have moved quickly in response to lower prices and will reduce the number of rigs we operate in our Onshore US business by approximately 40 per cent by the end of this financial year. The revised drilling program will benefit from significant improvements in drilling and completions efficiency. Our ongoing shale investment program will remain focused on our liquids-rich Black Hawk acreage. However, we will keep this activity under review and make further changes if we believe deferring development will create more value than near-term production."

STANCHART EYES BANK STAKE SALES AS IT TRIES TO SLIM DOWN

Passersby walk in front of the main branch of Standard Chartered in Hong Kong January 8, 2015.

(Reuters) - Standard Chartered's (STAN.L) abrupt move to shut its global equities business last week could be a prelude to the lender selling off stakes in a number of Asian banks as it looks to boost capital, people familiar with the lender's thinking said.

The most likely potential sale is Standard Chartered's $621 million (408.50 million pounds) holding in Agricultural Bank ofChina Ltd (601288.SS) (AgBank), a person with direct knowledge of the situation said.

The bank's 45 percent stake in Indonesia's PT Bank Permata (BNLI.JK), valued at around $638 million, could also be sold, though that deal would probably come after an AgBank stake sale, people close to the bank said.

DAVOS SOURCE: THE US IS GROWING SO MUCH WEED NOW, THEY'RE BURNING DOWN THEIR CROPS IN MEXICO

Tuesday night at the World Economic Forum in Davos, Switzerland, a source with knowledge of security issues along the United States-Mexico border shared this interesting tidbit: The supply of marijuana grown in the United States has become so abundant and cheap that in the regions of northern Mexico, where it used to be grown, farmers have taken to burning their crops.

Because of the increased domestic supply, it is no longer profitable for these Mexican farmers to grow, reap, and transport weed across the border.

They've decided there is more money in burning down their crops down and planting something else instead.

HERE'S WHAT TO EXPECT FROM THURSDAY'S BIG EUROPEAN CENTRAL BANK MEETING

Today, the European Central Bank (ECB) holds its monthly monetary policy meeting, arguably the most important one since the eurozone's sovereign debt crisis came off the boil in 2012.

That's because the ECB is about to decide whether to do quantitative easing (QE), a programme that involves buying up government (and maybe corporate) bonds. The object of the programme is to generate economic activity by nudging investors into other financial assets (like stocks) as government debt has an increasingly poor return. 

OPEC, OIL COMPANIES CLASH AT DAVOS OVER PRICE COLLAPSE

Swiss special police officers observe the surrounding area from atop the roof of the Davos Congress Hotel in the Swiss mountain resort of Davos January 20, 2015.

(Reuters) - DAVOS, Switzerland Wed Jan 21, 2015 11:31am EST- OPEC defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage as investments dry up.

The strain the halving of oil prices since June is putting on producers was laid bare when non-member Oman voiced its first direct, public criticism of the Organization of the Petroleum Exporting Countries' November decision not to cut production but instead to focus on market share.

Oil prices have collapsed to below $50 a barrel as a result of a large supply glut, due mostly to a sharp rise in U.S. shale production as well as weaker global demand.

UPDATE 1-ECB APPROVES EMERGENCY FUNDING LINE FOR GREEK BANKS

Jan 21 (Reuters) - The European Central Bank has approved an emergency funding line for Greek banks to be provided via the country's central bank, a banking source told Reuters on Wednesday.

Last week, a tightening of liquidity ahead of elections on Jan. 25 prompted the Bank of Greece to ask the ECB to approve an emergency liquidity assistance (ELA) line for the country's top banks.

"The ELA line was approved for two weeks," the source said. "The issue will be looked into again after two weeks."

HR CHALLENGES FACING THE BANKING SECTOR IN 2015

Karen Higginbottom Contributor

I write about the junction between being human and the workplace

It’s been a tumultuous year for the banking sector which has been beset with corporate scandals, the latest one being the recent Forex-rigging debacle. On top of this, many banks which are headquartered in the City of London are grabbling with a raft of regulations such as Capital Requirements Directive IV and the forthcoming Senior Managers’ Regime. What are the major challenges facing HR directors of global banks in 2015? I asked the experts to look into their crystal balls and offer their thoughts.

There are a number of challenges facing HR directors in the banking sector in 2015, according to Andrea Eccles, chief executive of City HR Association. She believes that these challenges come under the categories of regulation, remuneration and restoration. With regards to regulation, Eccles argued that both EU directives and Prudential Regulation Authority (PRA) and Financial Council Authority (FCA) consultation papers have had a major impact on people management activities within banks. “These include the reward elements arising from the Capital Requirements Directive (CRD) IV and the introduction of bonus caps of 100% of base pay or 200% with shareholder approval. Furthermore, the PRA/FCA are also proposing new conduct rules with the introduction of the Senior Managers Regime (SPR) which will hold employees –particularly those at the top end-more accountable for their actions. This will result in seismic changes in HR strategy given that the SPR is likely to impact the full employee lifecycle from recruitment and on-boarding to performance management and exit.”

BANKMOBILE AIMS TO BECOME THE "UBER" OF BANKING

"We are getting back to a bank people can love," said Jay Sidhu, who is chief executive and chairman of BankMobile, a digital-only offshoot of Customers Bank in Phoenixville, Pa.

Jay Sidhu wants to reinvent banking like Uber has transformed the taxi business.

"We are getting back to a bank people can love," said Sidhu, who is chief executive and chairman of BankMobile, a digital-only offshoot of Customers Bank in Phoenixville, Pa.

The virtual bank will offer checking, savings and joint accounts in addition to credit lines of up to $5,000. It plans to woo millennials with the promise of no fees and high-end mobile banking features. It is counting on interchange revenue and margin from loans rather than fee income.

MFUKO WA PENSHENI WA PPF WATEMBELEWA NA UONGOZI WA CLUB YA ARSENAL KWA LENGO LA KUJITANGAZA

Mkurugenzi Mkuu wa Mfuko wa Pensheni wa PPF ndugu William Erio (katikati) akipokea jezi ya timu ya Arsenal kutoka kwa Mkurugenzi wa Mahusiano ya Kimaendeleo ya Arsenal Bwana Sam Stone (kulia). Kushoto ni Meneja wa Mahusiano ya Kimaendeleo ya Arsenal Bwana Daniel Willey. Lengo la ziara hiyo ni kuanzisha mahusiano kati ya PPF na Club ya Arsernal kwa kuendelea kujenga imani kwa wateja wao na kuendelea kujitangaza.

Uongozi wa club ya Arsenal ukipokea zawadi kutoka kwa Mkurugenzi mkuu wa Mfuko wa Pensheni wa PPF ndugu William Erio (Kushoto).

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NHC YAENDESHA KONGAMANO LA MAMENEJA WA MIKOA NA WATENDAJI WAKE KATIKA HOTELI YA NAURA SPRINGS, ARUSHA

Mkurugenzi Mkuu wa Shirika la Nyumba la Taifa, Nehemia Kyando Mchechu akizungumza jambo katika kongamano hilo ambapo alisisitiza umuhimu wa Watendaji wa NHC kuongeza ubunifu katika kazi zao ili kuongeza ufanisi wa kazi zao.

Mkurugenzi Mkuu wa Shirika la Nyumba la Taifa, Nehemia Kyando Mchechu akikabidhi zawadi ya simu ya kisasa ya I Phone 6 kwaajili ya kuboresha ufanisi kwa Ofisa Mwandamizi Uendelezaji Biashara Fatima Rajabu ambaye aliibuka mshindi wa jumla wa maigizo ya vitendo kwenye kongamano la Mameneja wa Mikoa na Watendaji wengine linalofanyika katika hoteli ya Naura Springs, Arusha. Kongamano linakusudia kuwajengea uwezo wa kiuongozi wa kusimamia uuzaji wa nyumba zinazojengwa na NHC katika maeneo mbalimbali nchini. Katika kongamano hilo, mada mbalimbali zinaendelea kutolewa ikiwemo kuwajali wateja, misingi ya uhusiano na ujenzi wa taswira ya Shirika na uwekezaji katika sekta ya usimamizi na uendelezaji wa Miliki.

Mkurugenzi wa Uendelezaji Biashara wa Shirika la Nyumba (NHC), David Shambwe akitoa mada kwenye kongamano hilo. Shambwe alizungumzia hatua muhimu za kuibua miradi kuitekeleza na hatimaye kuiuza kwa ufanisi kwa wateja na kufuatilia malipo baada ya kuuza nyumba zinazojengwa maeneo mbalimbali nchini.

Meneja wa Mauzo wa Shirika la Nyumba la Taifa, Tuntufye Mwambusi akizungumza kwenye kongamano hilo.

Mkurugenzi mkuu wa NHC, Nehemia Kyando Mchechu alipata nafasi ya kujadiliana na  mameneja na watumishi wa shirika la Nyumba la Taifa waliohudhuria kongamamo la Arusha kuhusiana na mafanikio na changamoto zinazowakabili.

Wakurugenzi wa Shirika la Nyumba la Taifa Felix Maagi na Haikamen Mlekio wakifuatilia mada na mijadala inayoendelea katika kongamano hilo.

Bofya hapa kwa picha zaidi.

MSHINDI WA MTOKO WA MBUGANI BAADA YA KUWEKA SAINI KWENYE MKATABA WA SAFARI YAKE

Mshindi wa mtoko wa mbugani kwenye promosheni ya "Tutoke na Serengeti", Bw. Deogratius Peter Bongole (24) kutoka Rombo mkoani Kilimanjaro akiwa anapewa maelekezo kuhusu safari yake ya kwenda Mbuga ya wanyama ya Serengeti baada ya kutia saini kwenye mkataba wake wa safari hiyo . Akiwa na Meneja mauzo Mkoa wa Kilimanjaro, Orest Mmbaga (kushoto) na Afisa mauzo Moshi mjini, Huruma Daniel (kulia) wakati alipofika katika ofisi za Serengeti Breweries, Mkoa wa Kilimanjaro.

BENKI YA NBC YAMWAGA MILIONI 62 KUSAIDIA MRADI WA USIMAMIZI WA TAKA

Meneja Miradi wa Envirocare, Bw Isreal Richard (kulia) akizungumza wakati wa ufunguzi wa semina ya siku moja ya mradi wa majaribio wa usimamizi wa taka kwa utunzaji mazingira na ustawi wa jamii jijini Dar es Salaam leo. Mradi unaendeshwa na Envirocare kwa ufadhili wa Benki ya Taifa ya Biashara (NBC).

Ofisa Afya Mazingira wa Manispaa ya Kinondoni, Kawa Kafuru (kulia) akizungumza na washiriki wa semina hiyo.

Baadhi ya washiriki wa semina hiyo.

Diwani wa Kata ya Makuburi, William Mwangwa (kulia) akishiriki semina hiyo kuhusu usimamizi wa taka kwa utunzaji mazingira na ustawi wa jamii iliyofanyika Makongo, Dar es Salaam leo.

Baadhi ya washiriki wa semina hiyo wakiweka kumbukumbu za mada mbalimbali zilizokuwa zikiwasilishwa.

SWISS FRANK 'NUCLEAR EXPLOSION' SPREADING, CREDIT SUISSE, SAXO HURT

Credit Suisse Group AG (CSGN) and Saxo Bank A/S joined an increasing number of European financial companies warning that the Swiss central bank’s surprise decision to abolish its currency ceiling may dent earnings.

Credit Suisse, Switzerland’s second-biggest bank, indicated Monday that currency swings may hurt profit. Denmark’s Saxo Bank said some clients might not be able to settle unsecured amounts, which might cause undisclosed losses.

BANK LOSSES FROM SWISS CURRENCY SURPRISE SEEN MOUNTING

Deutsche Bank's so-called stressed value-at-risk, which measures possible daily losses in market turmoil, averaged 109 million euros ($126 million) in the first nine months, with 27 million euros related to foreign-exchange risks.

The $400 million of cumulative losses thatCitigroup Inc. (C), Deutsche Bank AG andBarclays Plc (BARC)are said to have suffered from the Swiss central bank’s decision to end the cap on the franc may be followed by others in coming days.

“The losses will be in the billions -- they are still being tallied,” said Mark T. Williams, an executive-in-residence at Boston University specializing in risk management. “They will range from large banks, brokers, hedge funds, mutual funds to currency speculators. There will be ripple effects throughout the financial system.”

STANDARD BANK SEEN WRITING OFF METAL HELD IN CHINA PROBE

Standard Bank Group Ltd. (SBK), Africa’s biggest lender by assets, may make further writedowns of about $80 million on the value of aluminum stockpiles entangled in a Chinese fraud investigation, two fund managers said.

Standard Bank, which isn’t accused of any wrongdoing, started legal proceedings in July after $167 million of aluminum it claimed ownership of was placed under lockdown by authorities probing irregularities at warehouses in Shandong Province. The aluminum stockpiles held in bonded facilities, mostly at the Qingdao port, were allegedly pledged to banks as collateral for loans multiple times. The Johannesburg-based lender has already written down the value of the metal by about half and said last month that any recovery was highly uncertain.

Standard Bank in December revised the value of its global markets business, which includes the aluminum assets, being sold to biggest shareholder Industrial & Commercial Bank of China Ltd. (601398) Standard Chartered Plc, ABN Amro Group NV and Citigroup Inc also made loans affected by the alleged fraud.

NJIA ZA "PANYA" ZA SUKARI ZINAUA VIWANDA VYA NDANI - ZITTO KABWE

Mwenyekiti wa Kamati ya Bunge ya Hesabu za Serikali na Mashirika ya Umma (PAC), Mh. Zitto Kabwe (wa tatu kulia) akizungumza wakati akiongoza kikao cha Kamati yake na Uongozi wa Mamlaka ya Mapato Tanzania (TRA) kilichofanyika kwenye ofisi ndogo za Bunge, Jijini Dar es salaam leo.

Kamishna Mkuu wa Mamlaka ya Mapato Tanzania (TRA), Rished Bade akizungumza katika kikao cha Kamati ya Bunge ya Hesabu za Serikali na Mashirika ya Umma (PAC) na Uongozi wa Mamlaka ya Mapato Tanzania (TRA) kilichofanyika kwenye ofisi ndogo za Bunge, Jijini Dar es salaam leo.

Kamati ya Bunge ya Hesabu za Serikali na Mashirika ya Umma (PAC), imeitaka Mamlaka ya Mapato Tanzania (TRA) kufanya uchunguzi wa sukari kutoka nje inayoingizwa nchini kwa njia ya panya, kwani inaua viwanda vya sukari vilivyopo nchini.

Akizungumza na Mamlaka ya Mapato Tanzania (TRA), Mwenyekiti wa Kamati hiyo, Zitto Kabwe amesema TRA inatakiwa kufanya kazi katika kudhibiti mianya inayoisababishia mamlaka kukosa mapato. Amesema katika agizo la kamati wameiagiza TRA katika ripoti za forodha kuweka misamaha ya kodi ili kuweza kujua ni misamaha mingapi inaingizwa katika ushuru wa forodha.

INAUGURATION OF A NEW DEGREE PROGRAM, MASTER OF SCIENCE (APPLIED ECONOMICS AND BUSINESS) AT MZUMBE UNIVERSITY OF MOROGORO, IN CONJUNCTION WITH CMR UNIVERSITY OF BANGALORE, INDIA

The Deputy Vice Chancellor, Finance and Administration, Mzumbe University, Prof. Faustin Kamuzora (right) presenting a souvenir to the Vice Chancellor, CMR University of Bangalore, India, Dr. Anand Joshi during the inauguration of a new degree program, Master of Science (Applied Economics and Business) over the weekend in Dar es Salaam. The new course to be run in collaboration with CMR University starts this month at Mzumbe’s Dar es Salaam campus college.

The Acting Vice Chancellor, Mzumbe University, Prof. Josephat Itika (right) presenting a souvenir to the High Commissioner of India to Tanzania, Mr. Debnath Shaw during the inauguration of a new degree program, Master of Science (Applied Economics and Business) over the weekend in Dar es Salaam. The new course to be run in collaboration with CMR University of Bangalore, India starts this month at Mzumbe’s Dar es Salaam campus college. Looking on is the Deputy Vice Chancellor, Finance and Administration, Mzumbe University, Prof. Faustin Kamuzora.

Michuzi Blog

BALOZI WA MAREKANI AMTEMBELEA WAZIRI CHIKAWE OFISINI KWAKE JIJINI DAR ES SALAAM LEO

Balozi wa Marekani nchini, Mark Childress (kulia) akimfafanulia jambo Waziri wa Mambo ya Ndani ya Nchi, Mathias Chikawe wakati Balozi huyo alipomtembelea Waziri Chikawe ofisini kwake, jijini Dar es Salaam leo, kujadili masuala mbalimbali ya ushirikiano kati ya Ubalozi wa Marekani na wizara.

Waziri wa Mambo ya Ndani ya Nchi, Mathias Chikawe (katikati) akizungumza na Balozi wa Marekani nchini, Mark Childress (kulia) pamoja na wasaidizi wa balozi huyo, kuhusu masuala mbalimbali ya ushirikiano kati ya Wizara yake na Ofisi ya Balozi huyo nchini. Balozi Childress alimtembelea Waziri Chikawe ofisini kwake jijini Dar es Salaam leo. 

Picha zote na Felix Mwagara, Wizara ya Mambo ya Ndani ya Nchi.