13 Mar 2012 |
Pay... toll death do you partThe bad news is that, despite massive opposition, government is determined the Gauteng tolling will go ahead. The good news is that plans for more tolls have apparently been shelved. So it does pay to protest after all; what irks, however, is that the government cannot seem to see - or refuses to see - that tolling is double taxation (we already pay towards new roads with every litre of fuel we buy), and tolling in Gauteng will hit every person in this country. Why? Because every company that operates in or through Gauteng and/or has client companies in that province, will face increased costs. And, they will probably pass them on to us. Meanwhile, the association representing the trawler industry is testy with agriculture and fisheries minister Tina Joemat-Pettersson, who wants to move the fisheries branch of her department from Cape Town to Pretoria. Doesn't it make sense to have a department and its officials close to the very people - trawler companies, fishermen and so on - with whom they need to be working? From the blue sea to the blue sky... Despite some unkind soul nicknaming the company Velcro Sky, if everything works out as chief executive Dhevan Pillay says, Velvet Sky will fly again. Finally, for all of you in the tourism industry, nominations for the HICA Business Awards are open, so get your entries in now. Rod Baker, general manager: content
Submit your company news to financenews@bizcommunity.com. Exclusive contributions may be sent to contributors-finance@bizcommunity.com. Top stories
Finance, Accounting & Banking
The Western Cape government and its Investment and Trade Promotion Agency (Wesgro) have identified the province as the only one in South Africa to prioritise design as a key economic tool to drive future growth and job creation. Read more >>
Banking
Fiserv, Inc., a Wisconsin USA based, leading global provider of financial technology services, announced that Johannesburg-based ATM Solutions, the largest independent deployer and operator of retail ATMs in Africa, has selected a number of Fiserv solutions to help manage all of its ATMs deployed throughout Sub-Saharan Africa, marketwatch.com reports. Read more >>
Finance, Accounting and Banking
Velvet Sky has reached settlement regarding the BP court application and will be back in the air shortly. Chief executive, Dhevan Pillay, said that South Africa's first 100% BEEE airline had reached financial agreements with service providers, and the agreements had been ratified by the court. As a result, the airline will be able to resume operations. Read more >>
Financial Services
The South African National Roads Agency (Sanral) said on Thursday it noted with concern untruths being propagated by some political and civil organisation leaders trying to gather support for their grievances around e-tolling. Read more >>
PRETORIA: Finance Minister Pravin Gordhan has gazetted the draft Demarcation Regulations which seek to find a better balance between medical schemes and health insurance products for public comment, the National Treasury said in a statement. Read more >>
Investment Management
South African businesses must move quickly to grab business opportunities in rapid growth markets in Africa before the existing window of opportunity narrows and they get crowded out by overseas competition. Read more >>
A better than expected performance from mall owner Hyprop Investments for the second half of 2011 should dispel any lingering doubts about the acquisition of Attfund's R9bn shopping centre portfolio in September last year. Read more >>
Taxation
PARIS: Airbus and six European airlines have written to several European leaders to attack the carbon tax imposed by the European Union, a source close to the dossier told AFP on Sunday (11 March 2012). Read more >>
REDWOOD CITY, US: Clickatell, a global leader in personalised priority messaging (PPM) through all mobile devices, today announced the availability of the Clickatell Connect API to enable developers to integrate SMS text messaging seamlessly with their web or mobile applications. Read more >>
BARCELONA, SPAIN: MasterCard has continued its mobile payment leadership and outlined its vision on how to reach the next billion consumers through mobile innovation and partnerships. At a press conference at the Mobile World Congress in Barcelona led by its global head of mobile Mung Ki Woo, MasterCard and leading mobile partners Comviva, Intel, iZettle, Santander and Turkcell unveiled a vision for the future of mobile payments. Read more >> More International...
Finance, Accounting and Banking
Professionals dealing with compliance, human resources, finance, governance, risk, asset management, procurement, security, supply chain, vendor management, IT management and forensics should attend the Governance Risk and Compliance Conference being held 27-29 March in Fourways. The conference will highlight issues and challenges facing the GRC arena. Read more >>
Manufacturing business confidence gained 12 index points to 47 in the Bureau for Economic Research's (BER) latest manufacturing survey, released on Friday. Read more >>
Confrontation is looming between Cosatu and the police over threats that workers will blockade Gauteng's toll gates. Read more >>
Plans for new toll roads around Cape Town, in KwaZulu-Natal, and Gauteng are set to be shelved, City Press reported yesterday, Sunday 11 March. Read more >>
[Zeenat Moorad] Foreign investment is vital for SA's economic prosperity and its lofty job creation target - and this will stop government from any further attempts to stymie Wal-Mart's 51% acquisition of local retail player Massmart (MSM). Read more >>
The private operator of Gauteng's controversial tolls is going to "milk" the public, the Congress of SA Trade Unions said in a memorandum prepared for handing over during its anti-toll protest on Wednesday. Read more >>
[Ntsakisi Maswanganyi] State-owned transport and logistics company Transnet has the potential to unlock the country's growth potential, Kevin Lings, Stanlib chief economist says. Read more >>
[Thabo Mokone] The SABC has blasted the Special Investigating Unit, telling Parliament that its probe into corruption at Auckland Park had not yielded significant value considering the almost R20m paid to it. Read more >>
The Congress of SA Trade Unions has more "creative-ways" to make the e-tolling system an epic failure, general secretary Zwelinzima Vavi said on Tuesday. Read more >>
Government would think twice about entering into another project such as the Gauteng Freeway Improvement Project, says Deputy Transport Minister Jeremy Cronin. Read more >> More Government news...
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