August 28, 14:35IOL

African Bank appoints Zveli Manyathi as CEO amid potential layoff of 1200 jobs

African Bank has officially appointed Zveli Manyathi as the permanent Group CEO after receiving approval from the Prudential Authority. This decision comes as the bank faces financial difficulties and is considering a restructuring that affects both employees and bank branches.

The bank confirmed this appointment in a SENS announcement on Wednesday. The company specified that Manyathi's appointment is a result of the current review of the bank's board and committee structure, as well as the succession planning process.

Manyathi's experience in the banking sector

Manyathi has been with African Bank since 2022, when he joined as Executive Director and Head of Business and Commerce. He holds a Bachelor of Commerce (B Com) (Hons) in Financial Management from the University of South Africa (UNISA). Furthermore, he completed the Senior Executive Program (SEP) at Wits and Harvard business schools, as well as the Professional Development Program (PDP) at City University of New York.

The bank noted that Manyathi possesses over forty years of experience in retail, business, and commercial banking, along with extensive experience in strategic leadership, turnaround, and transformation. Previously, he served as the General Manager for Business and Commerce at Standard Bank and held several senior roles at FNB, including General Manager of Retail Banking and General Manager of Corporate Banking.

Financial pressure on African Bank

Manyathi's appointment occurs against a backdrop of increasing pressure on African Bank to cut costs. The bank reported a loss of R624 million over the six months ending March 2026. Additionally, the bank is examining staff reduction under Section 189A, which could potentially affect 1200 employees and lead to the closure of 90 branches.

The proposed job cuts have met strong opposition from trade unions. Sasbo and COSATU have urged the bank to consider alternatives to layoffs and retain jobs. COSATU representatives stated earlier this month that 'over the past two years, African Bank has actively acquired companies, including Ubank, Grindrod Bank, Sasfin Capital Equipment Finance, and Commercial Property Finance. Now, following a loss of R624 million for the half-year ending March, it is clear that its acquisition strategy was poorly conceived.'

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www.tehrantimes.comAugust 28, 16:38

Iranian Oil Minister Reports Ongoing Crude Oil Deliveries to Clients

The oil minister stated that the process of exporting crude oil outside of Iranian territorial waters and in the open sea, as well as its delivery to buyers, is currently continuing.

According to the SHANA agency, Mohsen Paknejad commented on the procedure for selling and delivering Iranian crude oil, noting: 'I will not go into detail because this information could be used against us if disclosed.'

He added that at certain points, they managed to transport a significant portion of the oil to the clients' destination.

The minister continued that sales outside territorial waters and in the open sea—meaning delivery to clients—have been carried out throughout the entire period between the two blockades Iran experienced.

Paknejad emphasized that the sales process does not stop even after the imposition of a blockade, and they are working diligently to ensure the necessary measures are taken to maintain operational activity.

www.tehrantimes.comAugust 28, 16:36

Discovery of new hydrocarbon reserves indicates continuous development of the oil and gas industry

A member of the Parliamentary Energy Committee stated that the discovery of new hydrocarbon reserves demonstrates that the development of the oil and gas industry has not stopped even during wartime.

Mostafa Nahai characterized the development of oil and gas fields during the war in an interview with SHANA as proof of the unstoppable momentum of the oil and gas industry. He noted that such findings are positive news capable of creating favorable conditions for the country's energy future.

He emphasized that the development of the oil and gas sector is one of the state's main priorities. Despite some parts of the oil and gas industry being damaged during the imposed war (Iran-Iraq War), the Ministry of Oil took appropriate measures during that period.

The member of the Energy Committee highlighted that the discovery of new hydrocarbon reserves shows that the industry continues to progress despite restrictions, and sanctions cannot stop its activities. Nahai also described the oil and gas industry as a driving force for other sectors, asserting that its development undoubtedly stimulates other economic areas.

He added that this news about the discovery of new gas reserves testifies to the ability of the Ministry of Oil to move forward even in difficult economic conditions, which deserves recognition.

Oil Minister Mohsen Paknejad announced on Monday (August 22, 2026, 1st Shahrivar) coinciding with Government Week, the discovery of over 7,500 billion cubic feet of gas in southern Fars province. With a recovery factor of about 72% from this field, approximately 5,700 billion cubic feet of gas can be produced.

tecnoblog.netAugust 28, 16:34

Galaxy S25 Plus with Snapdragon available with up to 12 interest-free installments offer

The Galaxy S25 Plus, 256 GB model, can be purchased for R$ 4,333.53, with the possibility of installment payments up to 12 times without interest, by applying a 17% OFF coupon on the Amazon product page. This premium Samsung smartphone, originally priced at R$ 8,499, receives a significant discount of 49%, presenting itself as an excellent purchasing opportunity with financing options.

This device uses the Snapdragon 8 Elite chipset and features 12 GB of RAM, ensuring high performance in demanding applications and compatibility with Galaxy AI features. The internal storage of 256 GB offers a suitable balance for storing media, applications, and other files, although monitoring used space is necessary.

In terms of display, the phone features a 6.7-inch Dynamic AMOLED 2X screen, configured with Quad HD+ resolution and a 120 Hz refresh rate, providing sharp images and smooth motion. Furthermore, the panel supports HDR10+ and can reach a maximum brightness of 2,600 nits.

The photographic capability of the Galaxy S25 Plus consists of a triple rear camera, whose main lens has 50 MP, capable of recording 8K videos and capturing photos with Optical Image Stabilization (OIS). The front camera, with 12 MP, is dedicated to detailed selfies and 4K recordings.

The premium Samsung smartphone integrates various connectivity technologies, including 5G, Wi-Fi 7, Bluetooth 5.4, Ultra Wideband (UWB), and NFC for proximity functionalities. It comes pre-installed with Android 15 and is scheduled to receive seven major operating system updates, making it a durable device for long-term use.

The internal battery of 4,900 mAh promises autonomy of up to 30 hours of video playback, as specified by the manufacturer. Another strong point is support for fast charging up to 45 W, allowing the charge to go from 0 to 65% in just 30 minutes.

Structurally, the Galaxy S25 Plus (available for R$ 4,333.53 with the 17% OFF coupon) is built with an aluminum frame and has a back finish of glass protected by Gorilla Glass Victus 2. Additionally, it has an IP68 certification, guaranteeing protection against accidental immersion up to 1.5 meters in fresh water for a period of 30 minutes.