27 May 2014Contact usSubmit newsAdvertise on bizList your company
  My account



Finance & Insurance

Weekly top stories


Believe it or not, you've just finished 'working for the government'
South Africans will have worked 141 days this year to pay their taxes to the government as the country takes longer to achieve its tax freedom day (TFD), which this year fell on Thursday, 22 May. Read more >>


Finance
Cliffe Dekker Hofmeyr hosts Future Leaders Network debate
The International Project Finance Associate (IPFA) South Africa: Future Leaders Network debate will be held on Friday, 6 June at the Sandton offices of business law firm Cliffe Dekker Hofmeyr. Read more >>

Actuarial & Insurance
Government and private sector after 20 years of democracy

Brett Bowes

We are enjoying 20 years of democracy so it is a good time to take an objective look at transformation as a partnership between government and the private sector. Read more >>

Old Mutual gross sales up 24% to €6.2bn
London and JSE-listed insurer Old Mutual reported a 24% increase in first-quarter gross sales to €6.2bn on a constant currency basis. Read more >>

Hollard looks to ride the dragon

Issued by Hollard Insurance

Hollard Insurance has cleverly grasped a market gap by capitalising on the growing business links between China and southern Africa and establishing a desk exclusively servicing the insurance needs of Chinese companies working in the region. Read more >>

Accounting & Auditing
Netcare is 'seeking to silence KPMG'

Ernest Mabuza

Netcare's plan from the outset was to bar KPMG from participating in the Competition Commission's high-stakes market inquiry into the private healthcare sector‚ according to KPMG's counsel‚ Wim Trengove SC. Read more >>

Banking
Vote online for North Africa Banking Awards
This year, for the first time, readers of CPI Financial's publication Banker Africa can vote online for the North Africa Banking Awards 2014. Read more >>

Exotix Partners appoints new chairman
Ivan Ritossa has been appointed as chairman of the board of directors of the specialist merchant bank, Exotix Partners. Read more >>

High banking fees teach children its costly to save
Banking costs for children in South Africa are too high and do not contribute towards cultivating a culture to save. This is according to Moneybags editor, Angelique Ruzicka. Read more >>

How to turn away online business

Marion Scher

Recently I've been researching effective content writing, which naturally led me to go online and look at various sectors - not just at their websites but also importantly, their mobi sites. Interesting reading... Read more >>

Education & Training
Milpark partners with international private education group

Issued by Milpark Education

Apollo Global, an international private education provider and subsidiary of the Apollo Education Group, has acquired a majority interest in Milpark Education (Pty) Ltd. Read more >>

Markets & Investment
Merged property funds would have muscle

Alistair Anderson and Joan Muller

The proposed three-way merger between Rebosis Property Fund‚ Delta Property Fund and Ascension Properties‚ which is expected to be finalised by October‚ will create the first sizable black-managed property portfolio to rank among the R280bn listed property sector's top 10 companies in terms of size. Read more >>

Weighing up pros and cons of alternative investments
Alternative investments have delivered very attractive returns over the past 20 years - not only on a stand-alone basis, but also on a risk-adjusted basis. Read more >>

Building division hurts Stefanutti Stocks results

Mark Allix

Stefanutti Stocks‚ a multi-disciplinary construction company operating throughout South Africa‚ sub-Saharan Africa and the Middle East‚ was back in the black for the year to February after a significant loss last year. Read more >>

Telkom offers to buy Business Connexion for R6.60 per share

Samuel Mungadze

Embattled listed telecommunications company Telkom has made a bid worth R2.6bn to take over listed information and communication technology company Business Connexion (BCX)‚ which generates in excess of R6bn a year in revenue. Read more >>

SABMiller's profits reach US$5.712bn
Brewing company SABMiller has recorded a 2% rise in its adjusted earnings to US$3.865bn for the year to March‚ restricted by devaluation of key currencies‚ including the rand against the dollar. Read more >>

Tiger Brands earnings from operations reach R8.56

Nick Hedley

Tiger Brands reported "satisfactory" results for its six months to March‚ with headline earnings per share from continuing operations up 7% to R8.56. Read more >>

Tsogo Sun's earnings up 18% to 176.5c
Hotel and gaming group Tsogo Sun Holdings has delivered an 18% rise in adjusted headline earnings per share of 176.5c for the year to March‚ boosted by merger and acquisition activity undertaken as part of its growth strategy. Read more >>

How to capitalise on Africa's rising middle class

Golden Muzanago

Africa's moment is virtually here. With a GDP growth averaging 5%, it's no wonder that Africa has become a focus for investment. All eyes are on Africa's rapidly emerging middle class - a group expected to drive consumption on the rising continent. Read more >>

Taxation & Regulation
SA's motor industry slashes its trade deficit
After racking up a record trade deficit of R42bn in 2012, SA's motor industry almost halved the gap last year - with a little help from Finance Minister Pravin Gordhan and a new industry policy. Read more >>

Gautrain fare rise may alter travel patterns
The Gautrain would not lose commuters because of its price increases, but would see a change in ridership patterns, the Gautrain Management Agency said. Read more >>

Booze ad ban will have dire outcomes

Nomaswazi Nkosi, Health Reporter

Banning alcohol advertising will not reduce alcohol abuse in South Africa. Read more >>

Venture Capital
Connecting the dots between high-growth entrepreneurs and venture capital

Issued by UCT Graduate School of Business

New research shows high-growth ideas are going to waste as early-stage organisations struggle to find suitable investors. Read more >>


International

Catch a private jet for €550 an hour
PARIS, FRANCE: Once the preserve of the ultra-rich and celebrities, a flight on a private jet is now available for as little as €550 an hour, with technology and competition helping to bring down prices. Read more >>

PlayStations to be sold legally in China
SHANGHAI, CHINA: Sony will sell its PlayStation consoles in China through two joint ventures, the Japanese gaming company and its Chinese partner, as they seek to tap into the estimated 500m people who play video games in China. Read more >>

YouTube resists WIN's music streaming ultimatum
LONDON, UK: The independent music trade organisation said YouTube had refused to withdraw threats over the company's plans to launch a music streaming service, despite 24 hours of negotiations. Read more >>

S. Korea's top mobile chat app, online portal to merge
SEOUL, SOUTH KOREA: South Korea's top messaging service provider, Kakao Corp., and its second largest Internet portal, Daum, announced a merger to create a company with an estimated market value of US$3bn. Read more >>

Sony counting on high-definition television for rescue
TOKYO, JAPAN: Sony's Chief Executive, Kazuo Hirai pledged to drag the embattled electronics company out of a painful restructuring in the current fiscal year using its high-definition technology as a possible saviour for its money-losing TV unit. Read more >>

Music streaming gives record companies a boost
SINGAPORE: Stiff competition among technology companies for a share of the burgeoning online music streaming market has given traditional record companies a much-needed boost, a top Universal executive said. Read more >>

EU challenges Russia at WTO over duties on vans
GENEVA, SWITZERLAND: The European Union said that it had launched a fresh challenge to Russia at the World Trade Organisation, seeking to strike down Moscow's import duties on vans from Germany and Italy. Read more >>

Sex-line granny berates Australian PM over budget
SYDNEY, AUSTRALIA: Australian Prime Minister Tony Abbott was involved in heated exchanges with radio callers over his tough budget, including a pensioner who works on a sex-phone line to pay the bills. Read more >>


More International


Government

New ministers and their portfolios
Jacob Zuma has announced the creation of new ministries in a bid to transform the economy and to restore the confidence of foreign investors in the country. Read more >>

Repo rate unchanged
The Reserve Bank on Thursday kept the repo rate unchanged at 5.5% per annum. Read more >>

Finance Ministry warns of fake Twitter account

More Government news


Jobs offered




New events to diarise

Portfolio management
Paton Training - 5 Jun 2014 to 6 Jun 2014 Johannesburg

Financial modelling for project finance deals
Paton Training - 18 Jun 2014 to 20 Jun 2014 Johannesburg

Economic indicators: monitoring the SA economy
Continuing Education at the University of Pretoria - 30 Jun 2014 to 5 Dec 2014 Pretoria


Upcoming events

Omni-Channel Banking Conference 2014
Trade Conferences International - 28 May 2014 to 29 May 2014 Johannesburg

Banking and financial markets update
UCT Professional Development Project - 30 May 2014 Cape Town

Econometrics for the practitioner
Continuing Education at the University of Pretoria - 2 Jun 2014 to 14 Nov 2014 Pretoria

Course in economic crime schemes
Continuing Education at the University of Pretoria - 2 Jun 2014 to 19 Sep 2014 Pretoria


All industry news


Marketing & Media
    YouTube creators to help celebrate Madiba's legacy in video
    SA animation studio produces CGI ad for Skoda
    AdReview winners reflect business success - Danette Breitenbach
    Mxit boosts Ackerman's app traffic

    Medical
      Scientists find new way to combat drug resistance in skin cancer
      New MRI analysis predicts stroke patient reaction to clot-busting treatment
      Deciphering the role of fat stem cells in obesity and diabetes

      Retail
        [Net Prophet] How the SA games industry ticks - Sindy Peters
        New Flux Trends pinpoints macro trends for 2015
        Financial support for black milling company

        Government
          Zuma announces new Cabinet
          New MPs to be sworn-in today

          Mining
            Premier optimistic at mediation in platinum strike
            Delco Automotive India to exhibit at WAMPEX
            Improved skills can increase mining sector's contribution to economic growth - Professor Caroline Digby

            CSI
              Pearl Valley Golf Club raises R84,000 for charities
              Community Chest donates R100,000 to schools

              Agriculture
                Sustainable primary production needs a new approach
                Improvement of food value chain in the spotlight
                Grain forums request amendments to statutory measures

                Building
                  New canteen and computer room at Affies completed

                  GreenBiz
                    Environmentalists invited to enter for Eco-Logic Awards
                    Sustainability Week strives to create awareness of environment
                    D'Sa lauded for fight for environmental justice - Melissa Jane Cook

                    HR & Recruitment
                      SA employees fail to report bad behaviour
                      IIE launches new online resource to assist graduates
                      Developing new skills can avoid unemployment

                      Legal
                        Labour Court judgment surprises - Richard Marcus
                        The effect of liquidation on leases - Lucinde Rhoodie and Elnalene Cornelius
                        Implications of amendments to Air Quality Act - Sandra Gore and Gareth Howard

                        Manufacturing
                          SA manufacturing 'pulls African growth down'
                          SA vinyls delegates attend global expos

                          Property
                            Location: What's the big deal?
                            Repo rate stability welcomed

                            Education
                              Maties' students win big with WorkMode app
                              Students collaborate online to relieve stress
                              Kids can now train with PGA professionals at school

                              Tourism
                                Kenya Airways to fly between Nairobi and Abuja from June
                                SA Tourism appoints marketing agencies in Brazil
                                Samsung taps into hotel trends

                                ICT
                                  A short guide to cloud terminology
                                  Top free Android apps - Peter Davidson
                                  The public sector in the cloud - a good story to tell?

                                  Logistics
                                    Grievances will not delay Go Durban project
                                    Apple Express Rail plans train service to Baywest Mall
                                    Armed metro cops escort Rea Vaya buses after attacks - Penelope Mashego

                                    Lifestyle & Entertainment
                                      Mind-bending Transcendence - Daniel Dercksen
                                      Premier brands announce association with fashion film festival
                                      Top 20 steakhouses announced

                                      Automotive
                                        CMH Menlyn Auto named as the MINI Finance Dealer of the Year
                                        The Standard Bank People's Wheels Awards voting polls are going live
                                        PrintPrint any item in this newsletter. EmailEmail any item in this newsletter. CommentComment on any item in this newsletter.


                                        Today's weather
                                        Cpt

                                        20°C
                                        11°C
                                        Jhb

                                        24°C
                                        5°C
                                        PE

                                        24°C
                                        13°C
                                        Dur

                                        25°C
                                        14°C
                                        Bloem

                                        23°C
                                        3°C

                                        Customise weather

                                        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.