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Finance & Insurance

Weekly top stories


Shortlist for African Banker Awards announced
Attijariwafa Bank, Standard Bank, GTBank, and Nedbank are among the shortlisted finalists for the African Banker magazine's 2014 African Banker Awards. Read more >>


Finance
Biometric fingerprint authentication will stimulate ecommerce sales
The recently launched Samsung S5, as well as the Apple iPhone 5S, both feature the new biometric fingerprint authentication technology which the manufacturers have added to the models. Read more >>

FPSB appoints new Regulations Advisory Panel chairman
The Financial Planning Institute (FPI) has welcomed the announcement by the Financial Planning Standards Board's (FPSB) that Gerhardt Meyer has been appointed as the chairperson of the FPSB's Regulations Advisory Panel. Read more >>

Actuarial & Insurance
Gordhan dumps Insurance Laws Amendment Bill

Evan Pickworth

The Insurance Laws Amendment Bill‚ which was tabled nearly a year ago but has never been passed‚ was effectively binned by Finance Minister Pravin Gordhan‚ who aims to include important changes to the insurance sector in new "twin peaks" legislation. Read more >>

Banking
Standard Bank's commercial banking business sets goal for 2016
Standard Bank's 1,500 commercial banking clients, which account for about R1bn of Standard Bank's headline earnings, typically have an annual turnover of between R300m and R1.2bn, making them a critical part of South Africa's economy. Read more >>

African Bank faces huge losses
South Africa's largest unsecured lender African Bank Investments Limited (Abil) said it expected to report a headline loss of between R3.1bn and R3.3bn in the six months to the end of March and had decided not to declare an interim dividend for the period. Read more >>

Education & Training
Outcompeting the competition

Pascale Butcher, Issued by Meredith Harington

Have you ever walked through a mall or down the street and been confronted with a new product that is exactly the same as yours and you had that "oh no, not another one" feeling? Read more >>

Financial Services
Customer adaptation to be discussed at Mobile Money & Digital Payments Africa
Customer adoption is the single biggest inhibitor of the widespread growth of mobile financial services, especially in rural communities, and will be discussed in depth during an expert panel discussion at the sixth annual Mobile Money & Digital Payments Africa, which is to take place in Johannesburg from 21-22 May 2014. Read more >>

Importance of correct financial structuring of businesses

Ryno van Niekerk

It is general practice for financial institutions, when credit or financing is granted to a business entity such as a private company or closed corporation, that the business owner(s) sign security for the debt incurred. It is important to realise that the same principles will apply to the trustees of a trust, when the trust similarly incurs debt through a financial institution. Read more >>

Markets & Investment
Bonatla in two separate share-swap deals
Bonatla Property Holdings has announced that it has bought 75.1% stake in Namavect Proprietary in a share-swap deal that will enable the company to participate in the development of a Kimberley diamond and jewellery hub in partnership with the Northern Cape government. Read more >>

Entries open for EMRC Project Incubator Award
Participants in EMRC's Africa Finance & Investment Forum 2014 (AFIF 2014) who have a project which promotes a sustainable and innovative business approach based in sub-Saharan Africa, are invited to enter for the EMRC Project Incubator Award worth $15,000. Read more >>

Investors plump for Capco's London property portfolio

Alistair Anderson

Investors have continued to pump money into JSE-and London Stock Exchange-listed Capital & Counties (Capco‚) this year‚ as they look to gain exposure to prime London property. Read more >>

New vehicle sales drop 10.7% to 46‚013 units
New vehicles in South Africa took a hefty knock last month because of difficult conditions in South Africa's economic environment and the high number of public holidays. Read more >>

British American Tobacco's revenue down 12%
British American Tobacco (BAT) reported that at the current rates of exchange revenue for the first quarter of this year was down 12%. Revenue at constant rates of exchange grew by 2%. Read more >>

Redefine International offers cash or scrip dividend
Property group Redefine International has made an offer to shareholders to receive a cash or scrip dividend. Read more >>

New wave of optimism is sweeping Africa
The Association of Chartered Certified Accountants (ACCA) recently hosted the first Chief Experience Officer (CXO) African Convention in Johannesburg. Read more >>

Equities the preferred asset class for long-term investors
Despite huge returns not being expected from equities over the next five years, they should remain the preferred asset class of investors over the longer term, says Alwyn van der Merwe, director of investments at Sanlam Private Investments (SPI). Read more >>

Taxation & Regulation
Carbon offsets paper out for comment

Sue Blaine

The Treasury has released a discussion paper on carbon offsetting for public comment as it prepares for the introduction of a carbon tax in 2016. Read more >>

Employers must use latest version of SARS e@syFile Employer system
South African employers are now required to reconcile and submit PAYE, UIF and SDL contributions for the period 1 March 2013 to 28 February 2014. They need to submit accurate and complete employee tax certificates and a reconciliation of contributions for the year. Read more >>

Policy proposing carbon offset scheme published
PRETORIA: The National Treasury has published a paper for public comment outlining proposals for a carbon offset scheme that will enable businesses to lower their carbon tax liability and make investments that will reduce greenhouse gas (GHG) emissions. Read more >>


International

BlackBerry sells Canadian properties for Can$305m
OTTAWA, CANADA: Smartphone manufacturer BlackBerry has sold most of its Canadian properties to San Francisco-based real estate investment firm Spear Street, for Can$305m (US$278m). Read more >>

Washington's last video store calls it quits
WASHINGTON, USA: Too much Netflix and on-demand video content has the US capital's last movie rental store calling it quits. Read more >>

Apple, Samsung make final pitches in high-stakes trial
SAN JOSE, USA: - Apple and Samsung made their final pitches to jurors earlier this week in a big-money smartphone patent trial playing out in the heart of Silicon Valley. Read more >>

Orange says it has staunched sales drop
PARIS, FRANCE: French telecommunications operator Orange, with 239m customers across several countries, said it had slowed a fall of sales in the first quarter and increased its operating margins. Read more >>

eBay pays USD3.75m to settle 'no-poaching' case
SAN FRANCISCO, USA: Online company eBay agreed to pay US$3.75m to settle allegations it colluded with other Silicon Valley technology firms not to "poach" each other's employees, officials said on Thursday, 1 May. Read more >>


More International


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All industry news


Marketing & Media
    Fighting it out with strategy - Sid Peimer
    Are you addicted to the news? - Eugene Yiga
    New Loeries ticket packages out now

    Medical
      From morphine to Cipro: History of drug development chronicled - Bill Hathaway
      Managing perineal tears - Jude Polack

      Retail
        Massmart has stronger start than expected - Zeenat Moorad
        Petrol price to drop by 15 cents
        New SA online fashion magazine

        Government
          Government encourages South Africans to vote
          63 arrested for contravening Electoral Act
          SA to participate in WEF Africa summit

          Mining
            Assmang to buy Gabon iron ore stake - Brendan Ryan
            Pair arrested for assault of a non-striking mine worker
            KSB Pumps targets mining industry at WAMPEX

            CSI
              Duke of Edinburgh Championship supports rhino conservation
              Call to donate food and clothes
              Africa should scale up social assistance programmes

              Agriculture
                Maize futures fall on firmer currency
                Grain futures mostly lower on firmer currency
                SA research capacity compromised - Annelie Coleman

                GreenBiz
                  Arjowiggins Graphic launches new Eco-Calculator tool

                  HR & Recruitment
                    SA graduates have unrealistic salary expectations - Abram Molelemane and Anton Ressel
                    Entrepreneurs underestimate the value of PR - Sonwabise Sebata
                    Winners of Oliver Empowerment Awards announced

                    Legal
                      Refuse removal: a tax or a service? - Nicola Sulter and Ramon Pereira

                      Property
                        RBS offers Rentshield benefits to clients
                        Distressed homeowners have options

                        Education
                          'Work-integrated learning' set to improve work-ready graduates
                          BSc in Sound Engineering Technology now available

                          Tourism
                            Bloggers return to #MeetSouthAfrica at INDABA 2014
                            New Global Manager of Communications for SA Tourism

                            ICT
                              Fake Facebook app spies on Android phones
                              SA is a phishing attack hot spot
                              Cloud improves contact centre competitiveness - Gert Swart

                              Logistics
                                Mango to hold Career Day at Swartkops Air Show

                                Lifestyle & Entertainment
                                  Your chance to vote in the Hennessy Talent Quest
                                  Relax and recharge at De Hoop - Ruth Cooper
                                  A magical Mother's Day experience at the Shimmy Beach Club

                                  Automotive
                                    GMSA records best market share in April
                                    Hazardous fuel additive raises its head - David Furlonger
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