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S.Africa to review mining taxes: Zuma

South African President Jacob Zuma on Thursday said mining taxes will be reviewed in a move likely to renew uncertainty in the key sector hit by wildcat strikes and nationalisation threats. Zuma's announcement is the first clear indication that royalties were up for review in the mining sector -- the bedrock on which Africa's wealthiest economy was built. "Later this year, the minister of finance will be commissioning a study of our current tax policies, to make sure that we have an appropriate revenue base to support public spending," Zuma told the opening of parliament.

Dutch state nationalises troubled bank SNS Reaal: minister

The Dutch state on Friday nationalised troubled banking and insurance group SNS Reaal, at a cost of 3.7 billion euros, Finance Minister Jeroen Dijsselbloem said. "Today, SNS Reaal has been fully taken over by the Dutch state. I have nationalised SNS Reaal," Dijsselbloem told a press conference, after a deadline expired to find a solution for the bank. "With the Dutch Central Bank's deadline passing last night and without finding a solution there was an immediate and dangerous situation for financial stability," Dijsselbloem said.
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