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Finance & Insurance

Weekly top stories


Accountants need to strengthen competencies for employability
A report shows that while education can and does improve employability, there can still be a disconnect between the priorities of educators and the actual skills needed. Read more >>


Finance
Slow paying tenants should no longer be a landlord's headache
Owning a rental property is seen by many as an investment, but enter into discussion with a landlord and soon you will discover that it can also be a very frustrating experience. Read more >>

Actuarial & Insurance
Cheap car insurance... Can King Price win this war?

Issued by King Price

When King Price first declared an insurance war by promising cheap car insurance premiums that decrease monthly, there were countless prophets of doom that predicted its downfall. Yet, it's now almost two years down the line and they've already had over 60,000 policyholders join the royal family. Read more >>

Ad about risky male drivers gets green light
Men are riskier than women when it comes to car insurance. Read more >>

Life assurance, are you covered?

Issued by Meredith Harington

We are challenged as a country with life-threatening diseases like HIV/AIDS and obesity. Our roads are dangerous and younger generations are confronted with cancer, high blood pressure and diabetes. Surely it makes sense to have proper life insurance if you have significant debt, or dependants totally reliant on you? Read more >>

Accounting & Auditing
Cash flow management essential for small enterprises
Small businesses experiencing cash flow problems can have serious consequences for the business, such as no salary for the owner until the crisis is resolved or, more seriously, a significant loss of business that could threaten the very existence of the small enterprise. Read more >>

Changing role of accountants in the digital age
Traditionally accountancy played a fundamental role in facilitating tax compliancy, financial reporting and management of accounts - whether it is a blue chip corporate or a small business. Today, in the digital age, most of the compliancy, account management and reporting have been digitalised and the accountant's role in business has shifted. Read more >>

Banking
Retailers miss deadline to foil online fraudsters
South African shopping websites have missed the deadline for a new payment system that would protect online shoppers from fraud. Read more >>

TCT to supply EMV cards to Ghana Commercial Bank
One of the United Kingdom's largest manufacturers of secure and non-secure plastic cards, Thames Card Technology (TCT), has been awarded a tender to be the sole supplier for the production, personalisation and distribution of one million Europay, MasterCard and Visa (EMV) chip payment cards for Ghana Commercial Bank (GCB). Read more >>

Education & Training
Slaying the dragon: How to do business in China

Issued by UCT Graduate School of Business

Any company operating on a global scale needs to have some kind of presence in or with China. But as many of the bigger multi-nationals have come to realise - doing business in China is not as simple as 1-2-3. Read more >>

Trim the fat from your business

Issued by UCT Graduate School of Business

With the petrol price going up, load shedding scheduled for all provinces across South Africa and the uncertain rand-dollar exchange, businesses need to be sure they are ready for the bumpy economic road ahead. Read more >>

Financial Services
Empowerment fund to aid tourism sector
A new empowerment fund to be launched in May will allow large companies in the tourism sector to boost their empowerment scores by investing in small businesses. Read more >>

Desperate need for comprehensive social security
In reaction to media reports that the average pension fund member is likely to obtain a pension of just 30% of their current income, Wayne Hiller van Rensburg, director of the Institute of Retirement Funds (IRF) Africa, says retirement funds appear to be failing their members. Read more >>

Markets & Investment
Repo rate unchanged for now
On Thursday, 27 March, the Monetary Policy Committee of the Reserve Bank announced its decision to keep the repo rate at 5.5%. Read more >>

Grindrod to raise R4bn for project funding
Industrial freight‚ logistics and shipping group Grindrod's board of directors has approved an equity capital raising process that would lead to the total issue of Grindrod shares worth up to R4bn‚ with net cash proceeds of up to R3bn going to Grindrod‚ to fund projects‚ the company said last week. Read more >>

Mobile operators await termination fees ruling

Franny Rabkin

Mobile operators MTN and Vodacom will know by today (31 March) whether they will have to cut their interconnection fees in half. Read more >>

Delta to buy Tembisa Mega Mart

Nick Hedley

The Tembisa Mega Mart development in Gauteng has a new buyer in the form of JSE-listed Delta Property Fund‚ after a previous deal to buy the township mall failed. Read more >>

Interest rate stability a vital boost as housing market starts to rebound
With the housing market in a much healthier position than what it has been for years, there is every reason to believe that it is poised for a rebound. Read more >>

SAB competition case: 'no remedy likely to have great impact'

Amanda Visser

The Competition Commission's 10-year-old case against South African Breweries' (SAB's) distribution system has been dismissed by the Competition Tribunal. Read more >>

Property: a simpler alternative for investors
According to Bill Rawson, property pundits like himself, who advocate that property should form a large part of their investment portfolio, say 25% to 30%, are regularly taken to task by others who prefer the stock market as an investment channel and are inclined to point out that, although property may be a reasonably "safe" investment, its returns are very seldom spectacular. Read more >>

A selection of business news briefs
A selection of business briefs from around the industrial and retail sectors that have occurred in the past few days. Read more >>

Passive investing enables consistent returns
Index tracking, or passive investing, contributes to effective savings practice in a number of ways. Joseph Pearson, portfolio manager at Momentum Asset Management, says passive investing assumes that markets are generally efficient and reflects the collective wisdom of all market players and thus facilitates the optimal distribution of capital. Read more >>

Buyers find Langebaan home prices 'exceptionally low'
Estate agents working in Langebaan, the attractive West Coast village just 100km from Cape Town, have only one message to give to those interested in the property prospects in the area. Read more >>

Clover Industries deals coming through
Despite trying times for food producers and retailers, the dairy sector is doing fairly well, and heading the sector is Clover Industries' according to Vunani Securities analyst Anthony Clark. Read more >>

Changes to the NCA not as drastic as some think

Mike van Alphen

The removal of adverse consumer credit information and information on paid up court judgments, published in new regulations of the National Credit Act 2005 on 25 February 2014 has caused some alarm in the property sector. Read more >>

Taxation & Regulation
Petrol price to increase in April
The price of a litre of 93-octane petrol will increase by 5 cents a litre while that of 95-octane petrol will increase by 7 cents a litre in Gauteng on Wednesday, 2 April 2014, the Energy Department has announced. Read more >>

Santaco continues fight for subsidy
The South African National Taxi Council (Santaco) has launched a campaign for a greater share of state resources and this campaign will include a court action and a complaint to the Competition Commission. Read more >>

Deduction of audit fees considered by SCA

Graeme Palmer

The general deduction formula in section 11(a) of the Income Tax Act 58 of 1962 permits a taxpayer to deduct from his income, expenditure and losses actually incurred in the production of income, provided they are not of a capital nature. Read more >>

Debt review and the National Credit Act

Yasmin Kadwa and Katrijn Thys

A credit provider is entitled to enforce a loan that is subject to a debt-restructuring order without notice to the debtor once that order has been breached. Read more >>


International

Intel buys stake in Cloudera
SAN FRANCISCO, USA: In a sign of the growing importance of the Internet "cloud," software group Cloudera said it raised a whopping US$900m to expand its large corporate data services. Read more >>

Russia's Avtovaz reports net loss
MOSCOW, RUSSIA: Russia's leading car manufacturer, Avtovaz reversed into a net loss last year because of a sales slump on the Russian market, the company reported last week. Read more >>

BlackBerry still bleeding with US423m loss
MONTREAL, CANADA: The struggling smartphone manufacturer BlackBerry reported a loss of US$423 million in the fourth quarter of its 2014 fiscal year, with revenues still falling. Read more >>

Microsoft's Nadella crows over iPad Office release
SAN FRANCISCO, USA: Microsoft chief Satya Nadella took to Twitter to crow as Office software tailored for iPads soared to the top of the charts at Apple's online App Store. Read more >>

Cybercrime is part of online economy says study
WASHINGTON, USA: The dark world of cybercrime has evolved from one of rogue individuals to a functioning market-based economy with its ups and downs, code of conduct and "innovation". Read more >>


More International


Government

Screws tighten with NCA Bill
The National Credit Amendment Bill, approved by the National Council of Provinces (NCOP), will see the screws tightened on reckless lending. Read more >>

Win five free tickets: Watch editors grill politicians... and others
In a special edition of the Daily Maverick's Election Edition of The Gathering, top politicians Zille, Gigaba, Ramphele; top trade unionists Vavi, Jim, and more - including the ANC's biggest pain, Thuli Madonsela - will be grilled by Daily Maverick and eNCA editors. And you can be there... Read more >>


More Government news


Jobs offered




New events to diarise

Stress - testing for banks
Salvo Global - 14 Apr 2014 to 16 Apr 2014 Nairobi

Tax Indaba 2014
Informa - 9 Jun 2014 to 13 Jun 2014 Johannesburg

Africa Investment Promotion Summit
Africapaciti - 11 Jun 2014 to 12 Jun 2014 Tshwane

Dynamic Wealth Conference
Work Your Wealth - 5 Jul 2014 to 20 Jul 2014 Cape Town,Durban,Johannesburg

SAICA and IFRS Foundation IFRS Conference 2014
SAICA - 13 Aug 2014 to 14 Aug 2014 Johannesburg


Upcoming events

UCT Bookkeeping short course
GetSmarter - 7 Apr 2014 to 6 Jun 2014 Countrywide


All industry news


Marketing & Media
    Gareth Cliff quits 5FM
    Journalism or prescriptivism? - Leigh Raymond
    Global toy company to launch into African markets

    Medical
      Medic Alert bracelets can save lives in food allergy attacks
      Rotary brings free health services into underserved communities in Africa
      New expanded committee for IPASA

      Retail
        Witchery, Mimco open in South Africa
        Local is the new luxury - Jessica Taylor
        Woolworths wins international award for store design

        Government
          Minister meets NHLS to discuss new funding model
          Four parties removed from ballot paper

          Mining
            Mining Forum committed to stabilising mining sector
            Mine to create over 3000 jobs for NW
            Africa's resources key to unlocking its wealth - Ndaba Dlamini

            CSI
              Team Absa rider William Mokgopo wins Amabubesi medal
              No make-up selfie pics could be a social revolution in the making - Norma Young
              IBM supports economic growth opportunities in South Africa

              Agriculture
                AFWE plays a vital role to empower emerging farmers
                Youth key in growing Africa's agricultural sector
                Musicians unite to promote agriculture in Africa

                Building
                  Almost 10,000 inmates trained as artisans
                  Building industry invited to get involved in WDC 2014
                  City of Cape Town working to appoint contractor

                  GreenBiz
                    SA saves 575 MW of power during Earth Hour
                    Spider-Man working with Earth Hour, WWF SA

                    HR & Recruitment
                      New B-BBEE codes encourage employment of disabled people
                      The Fresh Group hosts dialogue on future of businesses
                      Entrepreneurship an answer for SA's unemployment crisis

                      Legal
                        Adams & Adams named best IP law firm in SA
                        Africa should have its own court: Motlanthe

                        Manufacturing
                          Seems Burger King IS SA's best burger
                          Manufacturers move to the cloud

                          Property
                            Many home buyers fear the foundations are cracked

                            Education
                              Wits to launch CoE in Mathematical and Statistical Sciences
                              Tablets help students in Gauteng
                              TEAMtalk media to launch sports journalism academy

                              Tourism
                                Three-year refurbishment project for Hilton Durban
                                Local events boosts Cape Town tourism sector
                                kulula hosts first ever braai in the sky

                                ICT
                                  Blocking social media is not the answer to IT security risks
                                  Text messages may save lives in flood-prone Africa

                                  Lifestyle & Entertainment
                                    The Fray to tour SA
                                    Tickets on sale for Top Gear Festival, Durban
                                    Jeremy Loops album debuts at number one

                                    Automotive
                                      Three-wheeler market gaining momentum, research finds
                                      Fortune names Goodyear the world's most admired Motor Vehicle Parts company
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