27 Mar 2012

Finance, Accounting & Banking

 

The price of piracy

This week, on the music front, Stephen Hollis sets out the costs to the music industry and individual artists who produce the music we all enjoy as he discusses the rise of the pirates of the digital age, and we also look at a different type of piracy. This is a far more deadly one in terms of being life-threatening (and even more costly in monetary terms), and it is also receiving attention, this time on the high seas, with anti-piracy efforts being boosted by a joint navy exercise involving the German and South African navies.

For all of you who find bank fees... how can we say this tactfully... onerous... you may be interested in the tiff between two of SA's major banks as FNB bites back at Standard Bank on the subject of bank charges.

And to end off, Martin Sprott and Dr Philip Bode say that South African companies had better get with the action and join the social media conversation. As the writers say, in one way or another, social media has always been with us - but now your customers are not just chatting about you and your products over the fence, but on Facebook, Twitter, and YouTube. That means comments (good and bad) are reaching a far wider audience - so you should capture the "energy" and turn it to your advantage. As Sprott and Bode say... put social media at the core of your customer- engagement strategy.

Rod Baker, general manager: content

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Finance, Accounting & Banking


Rand fluctuations hit ELB margins
ELB Group, a solutions provider to the mining, minerals, power, port, construction and industrial sectors, says the 8,3% rise in turnover for the six months to December reflects improved activity across its full range of products and services. Read more >>

AFIF 2012 to focus on financial inclusion through SMEs, cooperatives
This year's Africa Finance and Investment Forum (AFIF), entitled Financial inclusion through SMEs and cooperatives, will gather leading global representatives from a variety of sectors to highlight the financial tools and solutions and growing policy trends to ensure Africa's economic growth. Read more >>

Human Resources & Recruitment


Angola, SA support Nigerian World Bank candidate
[Helmo Preuss] The Angolan Minister of planning, Ana Dias Lourenco and South African Finance Minister Pravin Gordhan on Friday (23 March 2012) announced that they will be supporting the candidature for the World Bank presidency of Nigerian Finance Minister Ngozi Okonjo-Iweala. Read more >>

Banking


Government, consumers spend more money
Spending levels among consumers and the government grew at the fastest pace in more than a year and Business Day reports that the South African Reserve Bank is now reasonably upbeat about the state of the economy. Read more >>

FNB bites back at Standard Bank
[Khulekani Magubane] First National Bank on Thursday (23 March 2012) lodged a formal complaint with the Advertising Standards Authority (ASA) against Standard Bank's claim that the rival bank was saving customers up to 50% in bank fees. Read more >>

Credit Services


Nedbank acts as joint funder of Tsogo Sun loan
Nedbank Corporate Banking has acted as joint funder of a further R500 million syndicated loan to Tsogo Sun - bringing the total facility to just over R7 billion. Read more >>

Financial Services


Interconnection: The future of accounting
[Ross Hampton] The era of the Interconnected Practice has arrived. Accounting firms are divided into specialised functions: accounting, tax, auditing, and secretarial and the isolation of those functions often results in separate silos of customer information within the firm's systems. Read more >>

Santam acquires Regent's aviation book
Santam, the country's largest short-term insurer, is in negotiations with Regent Insurance Company to acquire Regent's aviation insurance book, with effect from 1 April 2012. Read more >>

Investment Management


Retirement fund assets up 13% in past decade
[Evan Pickworth] The latest Alexander Forbes Manager Watch survey of retirement fund investment managers shows that assets under management have grown a compound 13% to R2.7 trillion over the past decade. Read more >>


Government
MPs call meeting on banks' unsecured loans
The National Credit Regulator's (NCR's) concern over the increase of unsecured credit has prompted Parliament's trade and industry committee to hold a special hearing with the regulator and the Banking Association of SA in early May to discuss the issue. Read more >>

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