| 25 Sep 2013 |
For Denel, the sky's the limit SunSpace has teamed up with Denel to form a new business unit, Spaceteq, which, it is intended, will strengthen the group's position as a leader in innovative and advanced aerospace systems and technology. On the aquaculture front, a South African fish farm has been shortlisted for an international award. Cape Town's Alan Fleming and his team from the Business Place Philippi were selected from over 800 entries for their entry, Fish Farm, into the "empowering people. Award" [sic] of the Siemens Stiftung. Let's hope our South African entrant is still there at the "finnish". Geddit? Legal eagles flying high... three SA law firms, Bowman Gilfillan, Cliffe Dekker Hofmeyr and Webber Wentzel, have been shortlisted for the African Legal Awards. Some good news on the rhino front... an innovative campaign to build awareness of the danger rhinos are in from barbaric poachers feeding backward beliefs in the Far East, has taken Twitter by storm. This week's World Rhino Day saw the virtual world unite behind the #iam4rhinos campaign to raise awareness about the world's rhinos, which are threatened by extinction due to poaching. Here's hoping it will have some effect; many people, however, want to see draconian measures taken to stop poaching and the trade. Rod Baker, Content Director
Comment online in our ed's column archive. Go mobile with apps and m.bizcommunity.com. Engage with us on Twitter, Facebook, LinkedIn and Google+. Subscribe to YouTube and via RSS. Send all your industry-specific news and event invitations to financenews@bizcommunity.com, exclusive opinion pieces to contributors-finance@bizcommunity.com and international news to internationalnews@bizcommunity.com. Read "How to contribute to Biz, from op-ed pieces to news". Weekly top stories | Business Day has launched an application in the South Gauteng High Court to obtain forensic information on the collapse of Alliance Mining‚ a JSE-listed company that was placed in liquidation in 2010. Read more >> |
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 | The Reserve Bank has kept the repo rate unchanged at 5% per annum, it said on Thursday, 19 September 2013. Read more >> |
 | The recently released Kagiso purchasing managers index (PMI) was encouraging news for South African manufacturers and exporters. Instead of contracting as expected, the PMI increased to 56,5 in August 2013, 4,3 index points higher than predicted and at its highest level since August 2007. Read more >> |
 | [Gillian Jones] SilverBridge‚ the AltX-listed provider of software solutions to the financial services industry‚ returned to profitability in its financial year to June. Read more >> |
 | [Issued by Bizcommunity.com] A Biz Press Office is no longer just a conduit for company news releases, but can act and look like your real office, with gorgeous corporate visuals of interiors, your building, team and products - so prospects know who they are dealing with at a glance. Stills or animated mastheads can depict recent work, events or activations. Read more >> visit press office >> |
 | [Gillian Jones] Discovery Insure is introducing a range of new products and innovations to maintain its place as the fastest-growing insurer in SA. Read more >> |
 | Former World Cup rugby player Chris Rossouw has been in remission from cancer for seven years. Yet he still can't get life assurance. Read more >> |
 | Insurance industry service provider SilverBridge Holdings on Tuesday (17 September) reported diluted headline earnings per share (HEPS) of 7.56c for the period ended June‚ after a loss of 16.93c in the previous period. Read more >> |
First National Bank (FNB) is celebrating 175 years of existence in South Africa, reportedly the oldest bank, tracing its roots back to the Eastern Province Bank formed in Grahamstown in 1838. Today, it trades as a division of FirstRand Bank Limited. Read more >>
 | [Gillian Jones] Simplifying the cross-border transactions between Southern African Development Community (SADC) members can bolster trade and boost economies, according to BankservAfrica's chief executive of regulated products, Brad Gillis. Read more >> |
 | The TransUnion Consumer Credit Index (CCI) declined to 43.4 in the third quarter from 44.8 in the previous quarter and the latest data reflects a near 3-year downward trend in the index from its highs of 63.6 in 2010 Read more >> |
 | The Development Bank of Southern Africa (DBSA) has disbursed R9.2bn to support key strategic infrastructure projects in SA and the South African Development Community (SADC) region‚ of which 81% related to projects in SA and 19% in the rest of SADC. Read more >> |
 | In a world of consumption and waste, recycling is quite possibly one of the easiest things you can do to keep our planet cleaner and healthier. The excuses for not recycling vary from being inconvenient and time-consuming to creating jobs for waste pickers on rubbish dumps. Read more >> |
Off the back of its recent win of the 'Best Android Consumer App' at the MTN App of the Year awards, Nedbank has released an upgraded version of the Nedbank App Suite. The updated release fits into the bank's strategy to provide clients with a one-of-a-kind, customisable and accessible banking, financial services and lifestyle mobile experience. Read more >>
 | [Nick Hedley] The close relationship between the yields of nominal bonds and listed property - which is causing major volatility among property stocks - is not entirely warranted given the equity attributes of listed property, some analysts say. Read more >> |
 | [Nick Hedley] Redefine International, which is planning to list on the JSE next month, sees this move as part of a broader strategy to address negative market perceptions and raise the company's profile in the UK. Read more >> |
 | [Linda Ensor] Public Enterprises Minister Malusi Gigaba has mandated the state-owned South African Forestry Company Ltd (Safcol) "as a matter of urgency" to come up with a new business model to ensure its long-term financial sustainability. Read more >> |
 | [Madeleine van Niekerk] The rand was weaker on Friday (20 September) after making good gains following the US Federal Reserve's announcement on that it will prolong its quantitative easing programme at its current levels. Read more >> |
 | London-focused real estate company Capital & Counties Properties (Capco) believes the UK capital's property market offers very good growth prospects, says the company's chief executive Ian Hawksworth. Read more >> |
 | JSE-listed Fairvest Property Holdings on Thursday (19 September) confirmed that it had achieved its forecast distribution of 6c per linked unit for the year to June. Read more >> |
 | Digicore said on Thursday (19 September) it expected headline earnings per share for the year to June to be between 73% and 75% lower than last year Read more >> |
 | [Helmo Preuss] Wholesale trade sales increased by 8.5% year-on-year (y/y) in July‚ measured in real terms (constant 2012 prices)‚ data released on Thursday (19 September) by Statistics South Africa showed. Read more >> |
 | [Thabiso Mochiko] SA's entertainment and media market is expected to grow at a compound annual growth rate of 10.9% in the next five years as a result of increased Internet access. Read more >> |
 | [Helmo Preuss] The rand gained more than 20c against the dollar overnight as the US Federal open market committee (FOMC) decided not to taper its US$85bn monthly bond-buying programme. Read more >> |
South African grain futures closed the Wednesday (18 September) trading session lower due to softer US Chicago Board of Trade (CBoT) numbers. Read more >>
 | [Fifi Peters] Naspers' shares are getting close to the R1‚000 share price barrier even though the shares declined by 3.92% on Wednesday, dropping back to R919. Naspers is way ahead of the JSE's second-highest priced share, British American Tobacco at R522.58. Read more >> |
 | Kagiso Media on Wednesday, 17 September, said that diluted headline earnings per share (HEPS) for the year to June rose by 24.5% to 168.5c‚ while the final dividend was increased by 33.3% to 40c per share. Read more >> |
 | [Nico Coetzee] One of the most important goals we can save towards is our children's education. With a realistic estimate of South African university fees currently sitting at between R35,000 and R50,000 a year (excluding living expenses), most of us will need to save in advance to finance these considerable amounts. Read more >> |
 | Retail trade sales measured in constant (2012) prices increased by 2.8% year-on-year (y/y) in July from a revised 1.4% (1.9%) y/y increase in June‚ figures from Statistics SA released on Wednesday, 18 September 2013, showed. Read more >> |
 | [Nick Hedley] Tourism group Tourvest said on Tuesday (17 September) it had bought a controlling interest in Ugandan-based Nile rafting company Adrift. Read more >> |
 | [Ntsakisi Mawanganyi] Consumers are feeling more confident about the second half of this year‚ according to the latest MasterCard consumer confidence index,which rose 8.3 points to 56.3. Read more >> |
 | [Fifi Peters and Mark Allix] International pulp‚ packaging and paper group Mondi‚ which is the best-performing share on the JSE having risen 89% so far this year‚ will enter London's FTSE 100 index on 23 September. Read more >> |
 | Pioneer Food's revenue for the 11 months to August increased by 10% to R18bn‚ the company said in a voluntary trading update on Monday (16 September). Read more >> |
 | [Karl Gernetzky] The Democratic Alliance (DA) has expressed disappointment that the new version of the Employment Tax Incentive Bill, which introduces a youth wage subsidy, waters down the benefits of the youth wage subsidy proposed three years ago. Read more >> |
Financial planning and personal tax matters can be a minefield of complexity for the average taxpayer due to changes in tax legislation and tax thresholds. However, clever planning and structuring of your financial affairs can help you reduce your monthly tax payments, leading to substantial savings on an annual basis. Read more >>
 | International relations director general Jerry Matjila has been placed on special leave following allegations of irregular expenditure of R530m in taxpayers' money, Beeld reported on Thursday, 19 September. Read more >> |
 | The Gauteng Freeway Improvement Project (GFIP) will be implemented this year‚ but the commencement date for e-tolling has yet to be determined‚ according to Transport Minister Dipuo Peters. Read more >> |
 | [Graeme Palmer] Provisions in the Tax Administration Act, 2011 (TAA) which relate to the compulsory repatriation of foreign assets are some of the most far-reaching in our tax laws. The TAA allows the South African Revenue Service (SARS), for the purpose of collecting a tax debt, to apply to the High Court for an order compelling a taxpayer to repatriate foreign assets. Read more >> |
 | The State is set to decide whether to continue pursuing tax fraud charges against Durban businesswoman Shawn Mpisane. Read more >> |
[Erika van der Merwe] South Africa's young yet lively venture capital ecosystem is building momentum, with the increased availability of funding mechanisms for innovation being one important driver of this growth. Read more >>
 | OTTAWA, CANADA: BlackBerry has agreed to a US$4.7bn buy-out by a consortium of investors who plan to take the struggling Canadian smartphone manufacturer private. Read more >> |
 | FRANKFURT, GERMANY: It's already a booming market in the United States, but in Europe, companies are now waking up to the idea of cyber insurance to protect themselves against losses through an Internet attack. Read more >> |
 | WASHINGTON, USA: A year after its failed tablet introduction, Microsoft is back with a new Surface that has corrected many of the mistakes in its first iteration as it tries to gain a foothold in the tablet market dominated by Apple's iPad and others makes that use Google's Android operating system.. Read more >> |
 | LONDON, UK: British police said they have arrested eight men after a gang stole £1.3m from Barclays bank by taking control of a branch computer system. Read more >> |
 | NEW YORK CITY, USA: BlackBerry said it would cut 4,500 jobs as the struggling Canadian smartphone manufacturer retrenches in the face of hefty losses and weak sales of its new handsets. Read more >> |
 | MADRID, SPAIN: Spanish textile company Inditex, owner of global fashion brand Zara, reported a slight rise in profits in the first half of 2013 on Wednesday, 18 September, saying it had made a solid start to sales in the second half. Read more >> |
 | MILAN, ITALY: Versace is seeking a minority investor and a spokesman at the Italian fashion house says about €250m could be pumped into the luxury brand if the right investor is found. Read more >> |
 | MILAN, ITALY: Italy's luxury fashion brand Prada said on Tuesday (17 September) that its net profit rose by 7.6% in the first half of its fiscal year to €308.2 m and expressed confidence for the future despite an uncertain international economic outlook. Read more >> |
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