Flash Briefing: Interpol issues red notices for Gupta brothers; alcohol ban hits AB InBev; Zuma
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Flash Briefing: Interpol issues red notices for Gupta brothers; alcohol ban hits AB InBev; Zuma

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  • South Africa’s National Prosecuting Authority said Interpol issued red notices for two Gupta brothers wanted in connection with alleged corruption. The notices were issued for Atul and Rajesh Gupta and their wives, and four other people, Hermione Cronje, head of the National Prosecuting Authority’s investigating directorate, said in a statement on Monday. Red Notices are issued for fugitives wanted either for prosecution or to serve a sentence. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. “Efforts to bring the Guptas back have intensified,” Cronje said.
  • The latest alcohol ban in South Africa is piling on the pressure for AB InBev, which has long been struggling to recover from the massive acquisition of SA Breweries in 2016. Analysts say the acquisition was incredibly overpriced, and the global brewer has struggled for years to pay off the debt of the $100bn deal. The group’s first-quarter data pointed to better performance, but it has now again been hit by another ban. 
  • Former South African President Jacob Zuma, who is facing a 15-month jail sentence for contempt, accused the nation’s top court of unfairly convicting him, and said he feared that the judicial system was being compromised. The former president has also brought a case in the KwaZulu-Natal division of the High Court to have the Constitutional Court’s decision rescinded that will be heard on Tuesday. Lawyer’s for Zondo’s panel argued in an answering affidavit that the court has no jurisdiction to hear the case.
  • Naspers and Prosus share prices dropped sharply. This follows Beijing’s crackdown on tech platforms, targeting more US-listed companies after ordering the removal of ride-sharing group Didi Chuxing from Chinese app stores in a move that sent tech shares tumbling.

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