The South African Reserve Bank Governor Lesetja Kganyago announced that the interest rate was reduced to 7% and the prime lending rate was reduced to 10.5%.
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Eurozone economy shrinks in third quarter, inflation falls further
Economic growth in the eurozone contracted in the third quarter, data showed Tuesday, hit by the European Central Bank's painful rate-hiking campaign and Germany's weakening economy, but inflation slowed in October. Consumer price inflation in the eurozone has slowed to 2.9 percent, Eurostat data for October showed Tuesday, the lowest rate since July 2021 when it reached 2.2 percent.
Vodafone sells Spain unit for up to 5.0 bn euros
British mobile phone giant Vodafone announced Tuesday the sale of its Spanish division to investment fund Zegona for up to 5.0 billion euros ($5.3 billion), as part of an ongoing overhaul. The price comprises at least 4.1 billion euros in cash and up to 900 million euros in preference shares.
France arrests Russian tycoon Kuzmichev in tax, sanctions probe
French police have arrested Russian billionaire Alexei Kuzmichev, one of the co-founders of the Alfa Group who is targeted by EU sanctions, on suspicion of tax fraud and violating sanctions, sources close to the case said.
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