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Finance & Insurance

Interpol advises on rhino poaching

Countries across Africa need to work together to combat rhino poaching, says the International Police Organisation (Interpol), adding that there needs to be a free flow of information between organisations and nations if the scourge is to be eradicated.

How sad that our heritage is being destroyed as a result of a stupid, backward, and quite frankly laughable belief that belongs back in the Dark Ages. Rhino horn is simply keratin... the same stuff our fingernails are made of... If the belief had any foundation in fact, biting your fingernails would ensure, amongst others, no cancer and, apparently, a love-making ability that would make every Warren Beatty wannabe sob with envy.

On a lighter note... literally... the South African Entertainment Awards are to launch next year. The awards will recognise and reward the disciplines of fine art, performance, music and dance for exceptional work throughout the year.

And still on a light (musical) note, Henley is launching an MBA for music and the creative industries. Jon Foster-Pedley, dean of Henley Business School in Africa, says the MBA was established by Henley UK in 2011, and "is the first MBA of its kind in the world."

So you think you are pretty good, do you? Well then, the next step is to sell yourself. Juliette Attwell, of BizCareers, says selling yourself is probably the most important skill you'll ever learn.

Rod Baker, Content Director

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Weekly top stories
New Companies Act and business rescue
[Eric Levenstein] A new Companies Act became operative in our law on 1 May 2011. This Act introduced some novel provisions into our law - among them business rescue. Read more >>


Finance
Culture of doing business in SA must change
The average South African is fundamentally better off than 20 years ago and South Africa's debt position is not as bad as it's made out to be. This is according to Michael Lalor, director at Ernst and Young. Read more >>

Financial reporting relief in pipeline for SMMEs
Small, medium and micro enterprises (SMMEs) should embrace further financial reporting relief to be brought about by the proposed revisions to the international financial reporting standard for small and medium enterprises (IFRS for SMEs). Read more >>

Actuarial & Insurance
Guardrisk deal bolsters MMI's insurance exposure

Phakamisa Ndzamela

Insurance company MMI said it had bought Guardrisk for R1.6bn from Alexander Forbes‚ in a deal that would help bolster MMI's short-term insurance exposure and potentially strengthen its employee benefits business. Read more >>

Banking
Card purchases surpass cash withdrawals
Card purchases by FNB customers have surpassed cash withdrawals at its ATMs by R800m. Two years ago, FNB consumer segment customers withdrew R1.3bn more in cash than the value of card purchases. Read more >>

Investec named Best Private Bank
The London-based Financial Times (FT) Group has named Investec as the Best Private Bank and Wealth Manager in South Africa. The awards ceremony was recently held in Geneva, Switzerland at the 5th Annual Global Private Banking and Private Wealth Management (PWM) Awards. Read more >>

Education & Training
Skills vital to success of National Development Plan

Nick Hedley

The metals and engineering industries will play an important role in government's National Development Plan (NDP) and infrastructure programme‚ says newly appointed executive director of the Steel and Engineering Industries Federation of SA (Seifsa)‚ Kaizer Nyatsumba. Read more >>

Financial Services
Pepkor cuts back lending
Fashion retailing conglomerate Pepkor - which owns the sprawling Pep Stores and Ackermans chains - has changed to a less risky approach for its microlending business. Read more >>

Retirement saving must become compulsory
The PPS Graduate Professionals Confidence Index (PCI) - which tracks the confidence levels of nearly 5,000 of South Africa's graduate professionals - showed that 65% of respondents believe that compulsory preservation is necessary to enforce South Africans to save. Read more >>

Markets & Investment
Marriott International to buy Protea Hotels

Nick Hedley

Protea Hotels‚ one of South Africa's biggest and most successful hotel operators‚ is being bought by Marriott International‚ the US's largest publicly traded hotel chain. Read more >>

Astral Foods earnings down 44% to 443c
Poultry producer Astral Foods reported a sharp drop in annual profits‚ as a result of severe losses from its poultry division. Read more >>

Lewis Group earnings slightly up at 417.4c
Lewis Group has reported diluted headline earnings per share of 417.4c for the six months to September, marginally higher than the 414.9c for the same period last year. Read more >>

China lends Zimbabwe US$319,5m to ease power deficit
HARARE, ZIMBABWE: The Zimbabwe government has signed a US$355m agreement with the Export-Import Bank of China to expand its power generation capacity and help alleviate perennial electricity shortages. Read more >>

Credit-laden retailers hit by rising bad debt

Zeenat Moorad

Shares of South Africa's credit-heavy retailers‚ Truworths (TRU) and Foschini Group (TFG)‚ took a beating on Thursday, 7 November 2013, after reported figures pointed to slower sales growth and consumers' prevailing indebtedness. Read more >>

Investors in Africa funds well rewarded
Investors in African focused funds have been handsomely rewarded with the average compound return of funds participating in the Novare Investments Africa Fund Manager Survey measuring 30.2% after fees for the 12-month period to end June 2013. Read more >>

Mokonyane welcomes Chinese deal
Gauteng premier Nomvula Mokonyane has welcomed a multi-billion rand deal with a Chinese firm to turn AECI's property in Modderfontein into a business hub. Read more >>

Woolworths buys back African franchises

Zeenat Moorad

Woolworths said on Tuesday, 5 November, that it had signed agreements to purchase its franchise businesses in Botswana‚ Namibia‚ Swaziland and Ghana. Read more >>

Protection of Investment Bill open for comment
The majority of the bilateral investment treaties (BITs) South Africa has with countries it has trade and investment relationships with are near completion or are in the process of being terminated by the South African government, as the intention is for South Africa to in future regulate the protection of foreign investments by means of national legislation in the form of the draft Promotion and Protection of Investment Bill, 2013 released for public comment on 1 November. Read more >>

SA's competitive advantage in Africa is being eroded

Zeenat Moorad

Given the challenges facing them‚ foreign retailers would not enter the African market in a significant way within the next 10 years‚ according to Boris Planer, chief economist at London's Planet Retail. Read more >>

Vodacom's capital investment to rise by up to 17%

Thabiso Mochiko

Acquisitions help Mondi in September quarter

Mark Allix

ArcelorMittal SA's earnings rise despite weak conditions

Mark Allix

Transnet issues R5bn bond on international market
Truworths 18-week sales up 7% to R3.5bn
AVI's earnings rise by 20%
Intu sees signs of recovery in UK

Nick Hedley

Used vehicle market could improve says TransUnion
Taxation & Regulation
3.8m people have filed their tax returns
Almost four million people had submitted their tax returns by Monday (11 November) morning, the SA Revenue Service (SARS) said. Read more >>

Davis Tax Committee calls for submissions

Evan Pickworth

The eight-member Davis Tax Committee‚ headed by Judge Dennis Davis‚ says its top priority is to address ways in which the tax system can be improved to help grow small business. Read more >>


International

As Twitter flies, fears of a 'bubble' mount
WASHINGTON, USA: Twitter's high-flying Wall Street debut drew attention to the growing power of social media, but also raised concerns about a potential bubble in the sector. Read more >>

China car sales up 20.3% in October
SHANGHAI - China's auto sales surged 20.3% year-on-year in October, helped by a long holiday, China Association of Automobile Manufacturers said on Monday (11 November). Read more >>

Twitter IPO value estimated at US$15bn
NEW YORK CITY, USA: Twitter was on the verge of revealing the price of its stock offering giving the popular messaging platform a value of around US$15bn, media reports said. Read more >>

Toyota's net profit surges by 82.5%
Lafarge disappoints with profit but holds targets
Vivendi's €4.2bn deal with Maroc Telecom

More International


Africa

Woolworths dumps its Lagos stores

Zeenat Moorad

Woolworths will pull out of its three stores in Nigeria as high rental costs‚ duties and complex supply chain processes make trading in the West African country "highly challenging". Read more >>


More Africa


Government

SA wants to close all tax loopholes

Nick Kotch

SA is determined to be at the forefront of global efforts to ensure transparency in tax matters and to enhance revenue collection by closing loopholes which corporates and individuals are able to exploit‚ Finance Minister Pravin Gordhan said at a conference on relations between the Group of 20 and Africa. Read more >>

Support for proposal to clear bad credit info
The Department of Trade and Industry (dti) has received 98 written comments, most of which support the Removal of Adverse Credit Information, Trade and Industry Minister Dr Rob Davies said on Tuesday. Read more >>


More Government news


People on the move

  • Armien Tyer joins Absa as head of investments - more info
  • New appointment at Camargue Underwriting Managers - more info

More people  Submit a Person


Jobs offered

Financial Management Accountant - Paarl
Distell Ltd currently has a key opportunity based at Primary Production Finance, Monis in Paarl, for a suitably qualified and experienced financial management accountant. Read more >>

Debtors/Creditors Controller - Sandton
Greatstock, a visual solutions company services based in Sandton is looking for a debtors/creditors controller. Read more >>




New events to diarise

Advanced debt collection strategies
CBM Training - 20 Jan 2014 to 18 Jun 2014 Johannesburg,Cape Town

Finance for Non-Financial Managers
CBM Training - 21 Jan 2014 to 13 Mar 2014 Johannesburg,Cape Town,Durban

The Effective Accounts Assistant
CBM Training - 22 Jan 2014 to 9 May 2014 Johannesburg,Durban,Cape Town

Using Excel for Financial Managers
CBM Training - 10 Feb 2014 to 13 Jun 2014 Johannesburg,Cape Town,Durban

Finances/accounts/budgets for non-fin managers
CBM Training - 12 Feb 2014 to 20 May 2014 Johannesburg,Cape Town,Durban

Client Skills for the Auditing Team
CBM Training - 12 Feb 2014 to 10 Jun 2014 Johannesburg

Powerful Telephone Debt Collecting Techniques
CBM Training - 13 Feb 2014 to 10 Jun 2014 Johannesburg,Durban,Cape Town


Upcoming events

Finance Career Insights
Gordon Institute of Business Science - 12 Nov 2013 Sandton

The Tax Administration Act - A Practical Workshop
UCT Professional Development Project - 13 Nov 2013 Cape Town

The Future of Cash Conference 2013
Trade Conferences International - 13 Nov 2013 to 14 Nov 2013 Johannesburg

UCT Bookkeeping short course
GetSmarter - 18 Nov 2013 to 17 Feb 2014 Countrywide

SMEs Banking Conference
Mogorosi Communications Consultancy - 19 Nov 2013 to 20 Nov 2013 Boksburg

Chief Audit Executive's Breakfast
THE INSTITUTE OF INTERNAL AUDITORS - 19 Nov 2013 Sandton


All industry news


Marketing & Media
Media24 gets communist off Competition Tribunal panel
The Bookmarks 2013 - This year's big predictions

Ben Wagner

TV white spaces 'viable' for internet connectivity
Adams & Adams to sponsor MPASA PICA Awards

Medical
Slim by buffet design

Melissa Osgood

Lack of protein drives overeating
Breast screening: The new high-tech, simpler approach

Retail
Shifting 'Beyond Retail'
Zomato expands restaurant search into SA
Moody's assigns Edcon's provisional rating‚ outlook stable

Government
Business warns of red tape burden of gender bill

Ntsakisi Maswanganyi

IEC targets 2m new registrations for 2014 elections
Billions for Eastern Cape infrastructure says Zuma

Mining
Kumba's drive to fix 'nightmare' Sishen mine

Allan Seccombe

The hidden threat: spreadsheets in the supply chain

Steve Maxwell


CSI
Engen contributes towards hospital
Philips supports cancer awareness campaign
Tuition-free opportunity for young South Africans

Agriculture
Smaller wine grape harvest still promising
Tru-Cape Fruit appoints new MD
Multi-donor trust fund to boost investment in agricultural

Arts
To market something truly special, think art, not advertising
Music Exchange 2014 dates announced
South African Entertainment Awards to launch in 2014

Building
Architectural award for Hopewell Visitor Centre
Saint-Gobain competition open for entries

Environment
SA researcher receives international award
Law enforcement officers attend DNA workshop
Interpol advises on rhino poaching

HR & Recruitment
Flexible working improves productivity
[BizCareers] Selling yourself, and moving into art direction

Juliette Attwell

BEE revised codes - empowering supplier as a mechanism to human capital development

Trevor Tshabangu


Legal
The new nature of the fixed-term contract

Antoine Smith

Acknowledgement of debt - the real implications

Amanda Swanson


Property
Sales of bigger properties herald an upswing in commercial sector
E-tolls force developers to change their game plan

Security
Denel aims to compete in global defence industry
Police uncover R2.5m drug lab in Fourways

Education
Vodacom to encourage a culture of e-reading
IT resources in SA schools
Henley launches MBA for music and creative industries

Tourism
Mykonos - the Med on our doorstep

Brian Berkman

El Gibor gets environmental certification license

ICT
The ICT4Ag Conference focused on smallholder farmers
Stopping information overload in its tracks

Dr Pieter Streicher

Smart phones, dumb users

Sport
Coca-Cola CEO accepts invite to GPI
Rugby museum stirs Bok memories

Sulaiman Philip

Mondale player to attend Sundowns camp

Logistics
Druggie drivers apply to drive buses
Jammed roads waste 3,5 days for commuters
Cargo Carriers' subsidiary provides increased penetration

Science
Ericsson to showcase Radio Dot System at 2013 AfricaCom
Books arrive on Google Play in SA

Lifestyle
Gourmet Boerie celebrates first birthday
Extra Cold Summer Experience to feature Wale
2013 Eat Out Award winners announced

Automotive
Volkswagen still a preferred brand
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