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Ithala has R300 million ringfenced to secure deposits, says KZN treasury


The mail& Guardian


Ithala SOC has R300 million ring-fenced in the provincial revenue fund for securing deposits, as per the South African Reserve Bank’s Prudential Authority. Legal disputes have frozen the bank’s operations, risking 400 jobs and affecting thousands of clients. The bank seeks a transferee to continue operations, crucial for KwaZulu-Natal’s economy. Liquidation is opposed, with claims of solvency and liquidity.



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Nigerian extradited to the US for sextortion case


BBC News


Nigerian man extradited to US for sextortion leading to minor’s death. Hassanbunhussein Abolore Lawal faces charges including child exploitation resulting in death. Victim, Gavin Guffey, 17, died by suicide after being coerced into sending compromising photos. Lawal posed as a woman on social media, extorted money from victim and family. Lawal pleads not guilty in federal court in South Carolina.



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Major upgrades for South African passports and IDs


BusinessTech


South Africa plans to enhance ID cards and passports with advanced biometric technology to prevent fraud and manipulation. Minister Schreiber aims to eliminate human discretion in the issuance process, integrating facial recognition and fingerprint authentication. These upgrades will align with global digital trends and enhance security measures, similar to those in the banking industry.



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Be careful with DeepSeek, Australia says – so is it safe to use?


BBC News


Australia’s science minister, Ed Husic, raises privacy concerns about Chinese chatbot DeepSeek, sparking turmoil in tech industry. Donald Trump calls it a “wake up call” for the US, but Husic warns of data and privacy risks. DeepSeek sees 3 million downloads in the UK and US, outpacing rivals like Perplexity. Concerns remain over potential links to Chinese state and data harvesting.



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Chinas AI drive hammers tech stocks


Daily Maverick


Investors question tech and AI valuations as DeepSeek’s advances challenge US dominance. Nvidia’s market cap plunges, impacting global tech stocks. US stock futures stabilize, dollar rises, and Asian tech shares decline. Yen and Swiss franc strengthen, US bonds rise, oil prices fall. Market uncertainty persists amid concerns over DeepSeek’s cost-effective AI solutions. Major tech companies and markets experience significant losses.



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Israeli forces kill 22 people in Lebanon as residents try to return


SABC


Israeli forces killed 22 people in south Lebanon as they tried to return home after a deadline for Israeli withdrawal passed. Israel extended its troop presence due to Hezbollah arms in the area. Lebanon’s military accused Israel of delaying withdrawal. The conflict stems from last year’s war with Hezbollah. Hezbollah blames Lebanon for ensuring Israel’s withdrawal. The White House calls for a ceasefire extension.



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Putco investigating arson attack at 4 of its depots where almost 50 busses were gutted


EWN


Putco Bus is investigating an arson attack at four depots in Mpumalanga, where 45 buses were destroyed. Assailants ambushed security officers at the Moloto depot, setting buses on fire and opening fire. Two employees were injured. Officials will inspect the site for updates. Spokesperson Lindokuhle Xulu stated that a total of 47 buses were burned across the affected depots.



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