Egypt : President Zuma arrives in Egypt ahead of NAM summit

Sharm El Sheikh - President Jacob Zuma has arrived in Egypt on Tuesday ahead of the two-day 15th Non-Aligned Movement (NAM) Summit scheduled to take place from tomorrow.

The 15th NAM Summit, which convenes under the theme "International Solidarity for Peace and Development", will focus on international solidarity for peace and development, the financial crisis and its impact on the member states.

South Africa became the member of NAM in 1994 and participates in its meetings within the context of promoting south-south cooperation and advancing the interests of the developing countries on the global stage.

Other issues to be discussed at the summit include promotion and preservation of multilateralism, peaceful settlement of disputes, religions and cultures and the right to self-determination and decolonisation. - BuaNews

Nedlac, Banking CEOs discuss economic crisis

Johannesburg - The National Economic Development and Labour Council (Nedlac) and the Chief Executive Officers of the country's four biggest banks met on Monday to discuss the global financial crisis.

The meeting, which was chaired by Economic Development Minister Ebrahim Patel, was also attended by the Banking Association South Africa.

According Nedlac, the issues discussed at the meeting included various types of guarantees for lending and forms of risk sharing between the public and private sectors.

The need to ensure more effective engagement between debtors and financial institutions was also discussed.

"The meeting agreed that these proposals will be pursued intensively over the next three weeks to achieve resolution on viable strategies.

"It is planned to report to the President on the outcome of these and other initiatives as soon as possible," Nedlac said. - BuaNews