18 Feb 2014Contact usSubmit newsAdvertise on bizList your company
  My account

Finance & Insurance

Weekly top stories
Cell C says MTN's afraid of competition
[Paul Vecchiatto] Mobile network operator Cell C's acting chief executive‚ Jose dos Santos said rival MTN's court action to stop the communications regulator from implementing new rates was an attempt to avoid losing customers. Read more >>


Finance
High fees can negate retirement annuity benefits
Many people will consider to invest in retirement annuities (RAs) before the end of February 2014, which represents the close of the country's tax year, in order to take advantage of the tax break. However, investors often negate this benefit by paying high investment fees. Read more >>

Performance Management - an essential tool for the mid-sized business

David McWilliam

Mid-sized businesses are faced with the same challenges and priorities as their large-enterprise counterparts. These include the need to understand customer behaviour and business performance better, in order to grow the business and drive profitability in a highly competitive environment. Read more >>

Actuarial & Insurance
Clientele earnings rise 22% to 54.62c
Financial services group Clientele reported a 21% increase in diluted headline earnings per share to 54.62c for the six months to December from the same time a year earlier. Read more >>

Accounting & Auditing
Centralising govt's tender system will root out corruption
Centralising government's tender system will go a long way in rooting out corruption in the public service, President Jacob Zuma said yesterday. Read more >>

CIMA launches 2015 professional qualifications syllabus
CIMA, the Chartered Institute of Management Accountants, launched its 2015 Professional Qualification Syllabus simultaneously in Johannesburg, Accra, Gaborone, Harare and Lusaka earlier this week. These events linked guests, representing key business and academia in each country, to the exclusive London launch. Read more >>

Banking
Fleet management boost for performance
Local firms are increasingly turning to fleet management specialists to take care of the myriad challenges they face in keeping their vehicles on the road. By outsourcing their fleet management function, companies can free up their management teams to focus on their core business. Read more >>

Financial Services
Nedbank buys 30% stake in soft-drinks company

Phakamisa Ndzamela

Nedbank's private-equity arm has bought 30% of carbonated soft drinks producer Little Green Beverages for an undisclosed amount and is looking to invest up to R300m in various companies this year. Read more >>

Markets & Investment
Tito Mboweni goes, Sipho Pityana takes over
Former Reserve Bank governor Tito Mboweni announced that he is standing down as chairman of AngloGold Ashanti. Read more >>

Food and beverages income reaches R4.5bn in December
Total income generated by the food and beverages sector in SA increased in nominal terms (current prices) by 1.4% year-on-year (y/y) to R4.5bn in December‚ Statistics SA's data showed on Monday (17 February). Read more >>

December volume of goods transported down 1.7% y/y
The volume of goods transported (payload) decreased by 1.7% in December compared with the same period in 2012‚ Statistics SA said on Monday (17 February) Read more >>

German recluse launches website on 'Nazi art' trove
BERLIN, GERMANY: The elderly German son of a Nazi-era art dealer has launched a website with information about an art trove discovered at his home, suspected to contain Nazi-looted works. Read more >>

Vodafone India buys spectrum licences for £1.9bn
LONDON, UK: Vodafone's Indian division has bought spectrum licences for £1.9bn tapping deeper into emerging markets amid tough trade in Europe. Read more >>

SA December motor trade sales up 2.6% y/y
South African motor trade sales increased by 2.6% year-on-year (y/y) in nominal terms in December after a 1.3% rise in November‚ data released by Statistics South Africa showed. Read more >>

December mining production up 12%
Mining production rose by 12% year-on-year (y/y) in December after a revised 5.2% (5.1%) y/y increase in November‚ according to data released by Statistics SA. Read more >>

Rebosis‚ Delta put Ascension deal on hold

Joan Muller

Black-controlled Rebosis Property Fund and Delta Property Fund have put their respective take-over bids for Ascension Properties on hold to avert a protracted bidding war for Ascension's lucrative R3.2bn portfolio of government-tenanted offices. Read more >>

City Lodge's earnings up 14% to 330.5c
City Lodge Hotels has reported a 14% rise to 330.5c in normalised diluted headline earnings per share for the six months to December. Read more >>

Barloworld upbeat on sales despite downgrade

Nick Hedley

Barloworld's stock has remained resilient this year despite a ratings downgrade by Fitch and share-price weakness among its listed competitors. Read more >>

Comair's interim dividend surprises market

Max Gebhardt

Shares in Comair rose more than 10% after the airline said on Tuesday (11 February) that it had decided to pay an interim dividend of 5c a share‚ not something it ordinarily does. Read more >>

Tiger Brands' quarterly turnover rises to R7.7bn
Industrial group Tiger Brands says turnover from continuing operations for the first quarter of the current financial year amounted to R7.7bn or 10% higher than the corresponding period last year. Read more >>

SA December retail trade sales up 3.5% y/y
Retail trade sales measured in constant (2012) prices rose by a more than expected 3.5% year-on-year (y/y) in December from a revised 4.4% (4.2%) y/y increase in November‚ figures from Statistics SA showed on Wednesday (12 February). Read more >>

Global health retailer GNC enters exclusive deal with Clicks
Global specialty health and wellness retailer‚ US-based General Nutrition Corporation (GNC)‚ is to launch in SA later this month through an exclusive franchise agreement with the Clicks Group. Read more >>

Unsecured lenders ring alarm bells
Alarm bells in the unsecured lending sector rang out once again on Wednesday (12 February)‚ this time triggered by a 10% drop in furniture retailer JD Group's share price‚ which slumped to a low last seen in October 2008. Read more >>

Weaker rand poses threat to 'buy local' say economists

Colleen Goko

The weaker rand poses a looming threat to the drive to encourage South Africans to buy locally produced products‚ say economists. Read more >>

Safari assets set at R1.3bn for JSE debut

Alistair Anderson

Property developer Safari Investments‚ which plans to list on the JSE next month‚ aims to come to market with assets valued at about R1.3bn. Read more >>

Super Group's earnings climb to 117.1c a share
Logistics group Super Group has reported diluted headline earnings per share of 117.1c for the six months to December, up from 92.2c a year ago. Read more >>

S&P Dow Jones launches new indices
S&P Dow Jones Indices has launched nine new indices covering the South African equity market, headlined by the launch of the S&P South Africa Composite - an index which measures the performance of companies actively traded and listed on the Johannesburg Stock Exchange (JSE). Read more >>

Nedbank acquires 30% stake in LGB
Nedbank Capital has acquired a 30% equity stake in Little Green Beverages (LGB). The head of Private Equity at Nedbank Capital, Clive Howell, says they are constantly looking for sound investments in various sectors and believe they have found one in LGB. LGB is one of South Africa's leading independent carbonated soft drink manufacturers. Read more >>

Clover expects increase in earnings per share
In terms of the Listings Requirements of the JSE Limited, companies are required to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for the forthcoming reporting period will differ by at least 20% from the results of the previous corresponding reporting period. Read more >>

Higher than expected manufacturing will lift growth

Ntsakisi Maswanganyi

Manufacturing production improved more than expected in December‚ supporting views economic growth would have been higher in the fourth quarter of 2013. Read more >>

Taxation & Regulation
Sanral to brief Committee on e-toll system
The South African National Roads Agency Limited (Sanral) will today explain its operations on the Gauteng e-tolled highways, to the Portfolio Committee on Transport. Read more >>

Provisional sequestration - can Julius Malema still get to parliament?

Julian Jones & Tobie Jordaan

On 10 February 2014, the North Gauteng division of the High Court granted a provisional sequestration order against the estate of the leader of the Economic Freedom Fighters, Julius Malema... Read more >>


International

Sound-based login startup joins Google technology group
SAN FRANCISCO , USA: An Israel-based startup specialising in using sounds instead of passwords for logging in said it has been bought by Google. Read more >>

PS4 tops list as US videogame console sales climb
SAN FRANCISCO , USA: US videogame hardware sales climbed in January, with Sony's new-generation PlayStation 4 consoles leading the charge, according to figures released on this week. Read more >>

Taiwan's HTC forecasts first-quarter loss
TAIPEI, TAIWAN: Taiwan's struggling smartphone manufacturer HTC forecast a first-quarter net loss of up to Tw$3.1bn (US$102.4m) due to weak sales of new flagship products. Read more >>


More International


Jobs offered

Finance and Admin Manager - Johannesburg
A busy, vibrant and growing event company is looking for a mid-level finance admin manager to create, improve and manage day to day financial administration processing. Read more >>

Lecturer - Applied Discrete Mathematics - Stellenbosch
The Department of Mathematical Sciences at Stellenbosch University is seeking a lecturer: applied discrete mathematics to teach undergraduate and postgraduate students. Read more >>

Senior Lecturer/Lecturer - Applied Mathematics - Western Cape
The Department of Mathematical Sciences at Stellenbosch University is seeking a senior lecturer/lecturer: applied mathematics to teach undergraduate and postgraduate students. Read more >>

Financial Manager - Cape Town
Integrated brand services agency requires a financial manager to be based at the head office in Cape Town. Read more >>




New events to diarise

Citadel 20 Hats
Epic Communications - 20 Feb 2014 Johannesburg

VAT Masterclass
IITA - 3 Mar 2014 to 4 Mar 2014 Johannesburg

GIBS - Nexus 2014
GIBS - 5 Mar 2014 to 22 Oct 2014 Johannesburg

Treasury and Risk Management
BizStrat.Intelligent.Business - 18 Mar 2014 to 19 Mar 2014 Johannesburg

Finance Week West Africa
Montgomery West Africa - 4 Jun 2014 to 6 Jun 2014 Lagos

Managing Accounts Payable
Alusani Skills & Training Network - 18 Jun 2014 to 19 Jun 2014 Johannesburg


Upcoming events

Strategy Boot Camp - 19 Feb 2014 to 6 Mar 2014 Cape Town,Durban,Johannesburg
At last - a course that deals with both the theory and practical application of strategic planning. There is no textbook for the 'real' world. This workshop fills that gap. Read more >>


Banking Document and Workflow Management
Trade Conferences International - 19 Feb 2014 to 20 Feb 2014 Johannesburg

Debt Collection Conference 2014
Trade Conferences International - 19 Feb 2014 to 20 Feb 2014 Johannesburg

Citadel 20 Hats
Epic Communications - 20 Feb 2014 Johannesburg

UCT Payroll and Tax Administration short course
GetSmarter - 24 Feb 2014 to 4 Apr 2014 Countrywide

Intro to Carbon Projects and Markets
Terra Firma Academy - 25 Feb 2014 Johannesburg


All industry news


Marketing & Media
New Young Lions PR competition launched
[2014 trends] 2014 Biz Trends Report now available
Word of Mouth will stand the test of time - Tralone Khoza
Free #CreativeHustles event in Johannesburg, Cape Town
Brand relevance and the printing press - Lisa Basson

Medical
Kissing burns calories, so exercise today

Retail
Two new pocket guides for food handlers
Capturing the heart of customers - Andrew Cook
New cyber-shot cameras from Sony
Woolworths to expand Country Road stores in SA - Zeenat Moorad
Pioneer Food's revenue on the rise

Government
SAA investigating a body found in aircraft's wheel well
Managers selling jobs up to R3,500 each

Mining
Seamless bend pipes showcased at WAMPEX Expo

CSI
New name, new look for Cape Town NPO
Pampers supports Nappy Run with 10,000 nappies

Agriculture
Farmers suffer due to unallocated funds - Afasa
New tools, training could revolutionise pesticide management in W Africa

Building
Lack of infrastructure hampers trade with Africa
NMMU winner of architectural competition announced

GreenBiz
SANParks receives second consecutive clean audit
Wilderness Foundation receives R5m from Shamwari

HR & Recruitment
Universum announces IDEAL Employer Rankings 2013
Two biggest mistakes recruiters make - and how to fix these - Lia Marus
[BizCareers] Standing up and standing out - Juliette Attwell

Legal
Innovative legal services for businesses

Manufacturing
First anniversary at Hisense SA

Property
Residential house prices on the rise
Investor faith in residential property

Education
Call to support aviation programme for youths
'Open Mind' launches in Cape Town

Tourism
A mine of hidden gems - Henrie Geyser: motoring editor
Uptake for new paperless ticketing system
Air Mauritius launches Wellness and Wellbeing Programme

ICT
Prevent your home WiFi from being burglarised - Doros Hadjizenonos
Eastern Cape candidates to benefit from FibreCo training
Telecel denies rumours of disinvestment in Zimbabwe - Samuel Mungadze

Logistics
DHL Exported launched to help local designers
Comair's after tax profitability leaves room for improvement
Learners invited to KZN air festival

Lifestyle & Entertainment
Merger will increase TEAMtalk media's footprint
SA Rugby Annual 2014 now available
MK Awards 2014 winners

Automotive
Nissan's 'answer' for the taxi business
PrintPrint any item in this newsletter. EmailEmail any item in this newsletter. CommentComment on any item in this newsletter.


Biz press office welcome

Meredith Harington has opened a press office on Bizcommunity.com!

When you partner with Meredith Harington, you get so much more than just an audit. You get our world-class services, our extensive resources, our proven abilities and expertise and, most importantly, our undivided attention.

Follow us

Browse other industries

Press releases: Distribute your news professionally to over 170 000 subscribers across various industries. Read more about our press offices.

Editorial: We welcome your news, views and comments! Email press releases, invitations, interview requests, and proposals to financenews@bizcommunity.com and exclusive opinion pieces to contributors-finance@bizcommunity.com.

Advertising: We welcome your sales enquiries! Email sales@bizcommunity.com and read more about our advertising rates.

Location: Cape Town (head office): tel +27 (0)21 680 3500 | 24 On Main, Main Street, Rosebank, Cape Town, 7700, South Africa. Johannesburg: tel +27 (0)11 513 4172 | Nicol Grove Office Park, Design Quarter, Leslie Avenue, Fourways, Gauteng, 2055.

Subscribe/unsubscribe: Invite your friends, colleagues, suppliers, customers and partners to subscribe!


© 2014 Bizcommunity.com. All rights reserved.
Bizcommunity.com, its sponsors, contributors and advertisers disclaim all liability for any loss, damage, injury or expense that might arise from the use of, or reliance upon, the services contained herein.

Unsubscribe, Manage subscriptions. Subscribe. Change email address. Change frequency to DAILY.