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Finance & Insurance

Weekly top stories


Private Equity Industry Survey reflects 17% increase in funds
The 2013 Private Equity Industry Survey, which aims to provide private equity stakeholders a greater understanding of the industry, as well as the current trends, was recently released. Read more >>


Actuarial & Insurance
Sanlam looking to invest in Africa, South-East Asia

Phakamisa Ndzamela

Sanlam says it has R3bn in discretionary capital that is earmarked for growth opportunities mainly in Africa and South-East Asia. Read more >>

Sanlam acquires majority share in Rwanda's Soras Group
Sanlam Emerging Markets (SEM) has acquired a 63% interest in Soras Group Limited, Rwanda's largest life and non-life insurance company for $24.3m (or approximately R254m at current exchange rates). Read more >>

Accounting & Auditing
Institute launches new Professional Internal Audit Programme
In efforts to ensure that the market has enough competent internal auditors, the Institute of Internal Auditors South Africa (IIA SA) has raised the bar for internal auditors in terms of the requirements to become a certified internal auditor (CIA). Read more >>




Sanral responds to "misleading" ads ruling
Sanral says it has noted the rulings by the Advertising Standards Authority (ASA) regarding two of its ad campaigns, which have been described as misleading. Read more >>

Banking
Students may end up with debts they can't pay
Students who fail to find a job soon after graduating, or allow their student-loan debt to increase, could be burdened by decades-old debt well into their 50s. Read more >>

Tips for using ATMs and avoiding credit card cloning in Brazil
If you still haven't decided on how you plan to pay your bills while you're in Brazil for the FIFA World Cup - cash or credit card - it is time to do so. Read more >>

Six months to save for end of year holidays
Booking holidays late in the year often means paying higher rates for travelling and accommodation, making holidays a pricey affair. There is a solution, however, which doesn't include incurring debt or banking on your bonus to cover the costs, but rather planning early and working towards the perfect holiday at the end of the year. Read more >>

Markets & Investment
Transnet wants to 'industrialise railways'

Amanda Visser

Small- and medium-sized engineering companies must create niche markets for themselves to supply Transnet with parts for the locomotives that the freight logistics company envisages building within the next two to three decades. Read more >>

CEO's confidence high on financials‚ low on basic materials
The Merchantec CEO confidence index rose 1.4% on a quarterly basis to 51.7 points in the second quarter just slightly higher than the 51 points in the first. Read more >>

Kyalami track could fetch at least R120m

Nick Hedley

Kyalami's wailing glory days may be behind it but the once world-class race track still has the chance to win a title for itself; that of the highest price for a property in liquidation. Read more >>

Indian businessman invests in local wine industry
Three prominent farms near Franschhoek in the Western Cape - Dassenberg, Von Ortloff and Dieu Donné - have been amalgamated within Indian businessman Analjit Singh's Leeu portfolio, under the name Leeu Dassenberg Estates. Read more >>

CFA conference to discuss investment opportunities in Africa
The annual CFA Institute African Travelling Conference, to be hosted by the CFA Society South Africa, will be held on 9 June at the Cullinan Hotel in Cape Town and on 10 June at the Country Club Johannesburg in Auckland Park, Johannesburg. Read more >>

South Africa 13th most attractive investment destination
South Africa climbed two spots to become the 13th most attractive destination for FDI globally according to the senior executives surveyed from 300 of the world's leading corporations. The US maintains its first place position from last year followed by China and Canada. Read more >>

Santova seeks to expand trade corridors

Marc Hasenfuss

Supply chain management specialist Santova‚ could look to push into busy African markets in the financial year ahead. Read more >>

SA's manufacturing figures drop, raising red flags

Ntsakisi Maswanganyi and Nick Hedley

New data show that manufacturing, the second-biggest sector in the economy, contracted for the second consecutive month in May‚ raising red flags for the outlook for the rest of the year. Read more >>

Mondi to buy US Graphic Packaging International for $105m

Alistair Anderson

London- and JSE-listed paper and packaging company Mondi said that it would buy the US industrial bag and kraft paper business of Graphic Packaging International. Read more >>

Uber taxi app worth $17bn as new funds come in
SAN FRANCISCO, USA: Internet Age taxi app Uber rose to the elite ranks of Silicon Valley with a round of funding that gives the California-based start-up a whopping $17bn value. Read more >>

Smartwear may make people healthier
TAIPEI, TAIWAN: A new generation of wearable technology is promising not only to log data about users' health but to predict and avert crises, from drivers falling asleep at the wheel to runners wearing themselves out in a marathon. Read more >>

Effect of labour strike on national economy

Chandrakumar BJG

The global mining industry, with its role in the resources supply chain, acts as a core force influencing the health of the 'global economy'. Numerous industries across the globe depend on the supply of commodities. Read more >>

Chinese investors show interest in business rescue transactions

Eric Levenstein

Business rescue transactions have created a new environment in South Africa for buying cheap distressed assets and adding value to them. Read more >>

Emira to expand Wonderpark Shopping Centre

Alistair Anderson

Emira Property Fund says it will undertake a third expansion phase of its Wonderpark Shopping Centre in Pretoria. The centre is the largest and most valuable asset in Emira's R10.2bn portfolio. Read more >>

Taxation & Regulation
SA, US to share tax information
Finance Minister Nhlanhla Nene and United States (US) ambassador to South Africa Patrick Gaspard have signed an intergovernmental agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act. Read more >>

South Africa 'too reliant on personal taxes', says professor

Amanda Visser

South Africa relies too heavily on just two taxes in the total tax mix and, as the current tax system is already "at full stretch", any further demands would distort economic activity and taxpayer behaviour. Read more >>

Sanral urged to reveal its secret costs

Philani Nombembe

The City of Cape Town is embroiled in a bitter court battle in an attempt to make the SA National Roads Agency make public the "secret" costs of the proposed introduction of e-tolling on the N1 and N2 highways in Western Cape. Read more >>

Treasury might hike taxes
The first hint of possible future tax hikes was given in an oblique statement by the Treasury on new areas of work for the tax review committee headed by Judge Dennis Davis. Read more >>

SA's red tape restricts Nigerian investments
Nigerian companies have a "huge appetite" for investing in South Africa, says the Nigeria-SA Chamber of Commerce. Read more >>

SARS implementation fights non-compliance

Issued by AfriGIS

A multimillion-rand geographical information systems (GIS) implementation at SARS has assisted in the identification of various remote locations eligible for mobile registration and registration campaigns, enabling the organisation to grow the taxpayer register. Read more >>

Venture Capital
Tell the new Minister of Small Business Development what small business needs

Brett Bowes

The creation of a Small Business Development Ministry under Lindiwe Zulu has received a positive response. Read more >>


International

HTC pins its hopes on M8 to make money
TAIPEI, TAIWAN: Once a star of the intensely competitive smartphone sector, Taiwan's HTC has seen its fortunes collapse - but the success of its latest model provides a glimmer of hope for the company. Read more >>

Samsung looking into Nooks with Barnes & Noble
NEW YORK, USA: Samsung unveiled plans to produce a co-branded tablet computer with US bookseller Barnes & Noble (B&N), which has struggled with its Nook line of devices. Read more >>

Chrysler's US sales jump 17% in May
WASHINGTON, USA: Chrysler's US sales of cars and truck climbed by 17% in May from a year ago as Jeep and Ram brands racked up strong gains. Read more >>


More International


Government

Recession unlikely in second quarter: Reserve Bank
The South African economy is unlikely to fall into a recession in the upcoming second quarter, the Reserve Bank said on Tuesday. Read more >>


More Government news


Jobs offered

Bookkeeper - Johannesburg
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New events to diarise

Introduction to trading and investments
Regenesys Business School - 21 Jun 2014 Johannesburg

Think differently masterclass
Business Results Group - 20 Aug 2014 to 22 Aug 2014 Cape Town

1st Annual Procurement Conference
Intelligence Transfer Centre - 25 Sep 2014 to 26 Sep 2014 Windhoek


Upcoming events

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


All industry news


Marketing & Media
    Big ideas, big data, big love - Shaune Jordaan
    Can social selling be used to increase B2B sales? - Graeme Wilson
    SuperSport lines up FIFA World Cup digital viewing

    Medical
      Philanthropist gives Rotary US$1 million for polio eradication
      Reducing TB in HIV patients through two-pronged approach
      A new device deciphers the language of cells - Bruce Fellman

      Retail
        How consumer behaviour affects design decisions
        Consumers' responsibility to food safety - Leanne Tee
        Woolworths deal may be in Australian magnate's line of fire - Zeenat Moorad

        Government
          Germany pulling out of SKA disappointing
          Chief Justice responds to criticism over religion, law
          Former deputy police commissioner arrested for fraud

          Mining
            SA mining sector invited to explore Peru
            Set Point to showcase services at Botswana conference
            WESSA objects against application to mine near nature reserve

            CSI
              Making magic with a love movement - Danette Breitenbach
              CSI: a business imperative - Danette Breitenbach
              'Night of 1000 Drawings' to raise funds for better learning conditions

              Agriculture
                WWF-SA expert to address Food Security Seminar
                Food security in spotlight at AgriYouth Indaba
                Minister Zokwana committed to farm worker sectoral determination

                Building
                  15 finalists for AfriSam-SAIA Award for Sustainable Architecture
                  US launches USD1bn push for off-grid Africa power
                  Transnet CE plans to 'industrialise railways' - Amanda Visser

                  GreenBiz
                    Closing date for Green Talents comp draws closer
                    Rising sea-levels in the spotlight during environment month

                    HR & Recruitment
                      Improving efficiency a top priority among businesses - Rona Sauer
                      Unique perspective of youth is driving SA's development goals
                      Young professionals are transforming the workplace - Rona Sauer

                      Legal
                        Bentley wins LexisNexis Prize for Legal Practitioners
                        Competition Commission appeals against Tribunal's finding - Leana Engelbrecht

                        Property
                          When will the Real Estate Sector become BEE compliant?
                          Women on an even playing field in the property game

                          Education
                            Rally to Read brings literacy to primary schools
                            Microsoft eTourism Workshop to empower local SMEs
                            Wits to host Digital Africa Festival

                            Tourism
                              Suncoast kick starts careers
                              Travelstart releases 2014 Travel Trends Report
                              Best places to visit in summer - Amelia Verona

                              ICT
                                "New age" estate agency launches
                                Frost & Sullivan, African electronic test equipment market report findings

                                Logistics
                                  Businesses should capitalise on Africa's rising opportunities
                                  Cape Town's SA's most congested capital
                                  Comair launches its Cadet Pilot Training Programme

                                  Lifestyle & Entertainment
                                    Final five in Wolftrap Steakhouse Championships announced
                                    Wined, dined and treated fine at the The Twelve Apostles - Ruth Cooper
                                    2014 MTV Africa Music Awards winners

                                    Automotive
                                      Two Centennial Edition Maseratis for SA
                                      Opel outlines growth plan until 2022
                                      Toyota's CEO stresses importance of Hino Trucks
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