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Finance & Insurance

Weekly top stories


Revolutionary approach to accounting benefits learners
Approximately three thousand Western Cape learners are benefitting from Colour Accounting, a revolutionary new approach to teaching the subject, thanks to a donation by Accounting Comes Alive and the Moshal Scholarship Program. Read more >>


Finance
Biz' got talent!

Issued by Bizcommunity.com

It's no secret that Bizcommunity's portfolio of industry news sites is fertile ground for career-oriented individuals and business leaders. Unpacking our 2014 recruiter stats explains what this really means to our readers, advertisers and communities as a whole. Read more >>

Banking
Bribery and corruption perceptions higher

Evan Pickworth

Perceptions of widespread bribery and corruption by business executives in SA has climbed from 67% in 2011/12 to 78% currently, raising concerns that executives are battling to manage the effect of crime on their businesses. Read more >>

Standard Bank accused of reckless lending

Franny Rabkin

Standard Bank has been accused in court papers of recklessly giving loans to companies involved in fraudulent schemes known as "reverse mortgage schemes" in breach of the National Credit Act. Read more >>

Agents can book and pay for kulula products with AirPlus cards
kulula.com has teamed up with AirPlus International, a global provider of business travel payment solutions for corporations, to enable travel agents booking on the GDS system to use their AirPlus accounts to pay for kulula flights. Read more >>

Financial Services
2014 car sales may be down 5%

David Furlonger

New-car sales in South Africa are likely to fall at least 5% this year as mounting household debt and shrinking disposable income restrict consumers' access to credit. Read more >>

SA Taxi's cash pile opens new frontiers
South Africa's largest minibus financier, SA Taxi, is looking for opportunities to expand its minibus lending business into other African countries and could direct R100m to its domestic finance project. Read more >>

Markets & Investment
Drop in Evraz Highveld's share price hurts RMB

Mark Allix

Evraz Highveld Steel & Vanadium's share price has gone from nearly R190 in 2008 to about R6 now and one of the most affected shareholders is Rand Merchant Bank, which has a 7.4% stake, in the company according to ShareData Online. Read more >>

Sandton offices standing empty

Joan Muller

The amount of empty office space in Sandton, SA's largest decentralised business hub, has risen to a 10-year high of 14,2%, latest figures from the SA Property Owners Association (Sapoa) show. Read more >>

Telkom's earnings up 35.1% to 388 cents

Samuel Mungadze

Telkom's fixed-line voice usage revenue continued to fall‚ decreasing 7.6% to R7.934bn in the year to March but its earnings were up 35.1% to 388 cents. Read more >>

Currency volatility a problem for SMEs
Small- and medium-size enterprises (SMEs) with international partners have been facing a challenging past six months due to currency swings. Read more >>

Deal with striking platinum miners reached 'in principle'
Platinum producers have announced that an 'in principle' agreement has been reached in the five-month strike over wages. Read more >>

Cost savings from Octodec-Premium merger

Nick Hedley

The merger of Octodec Investments and Premium Properties is likely to be credit positive thanks to the benefits of scale and diversification, says Eyal Shevel, Head of the Corporate Sector at Global Credit Ratings (GCR). Read more >>

StratLink Africa release market update report
StratLink Africa, a market research and consultancy firm based in Nairobi, Kenya have released a market update report on the following countries: Kenya, Uganda, Tanzania, Ethiopia, Nigeria and Ghana. Download Africa Market Update June 2014 [pdf].

Manufacturing confidence remains subdued

Claire Bisseker

South African business confidence remained subdued but unchanged in the second quarter of 2014‚ consistent with an economy that is at risk of sliding into a recession. Read more >>

Equites to enter JSE's listed property sector

Alistair Anderson

Equites Property Fund Limited will join the JSE as an office and industrial property manager and developer later this month. Read more >>

GEPF honoured for responsible investment reporting
The Responsible Investment (RI) Reporting Awards 2014 showcases excellence in responsible investment and environmental, social and governance (ESG) reporting and is intended to encourage best practice and transparency by recognising the highest standards in the disclosure of responsible investment activities by asset owners globally. Read more >>

Rockcastle seeks main board listing on JSE

Alistair Anderson

Rockcastle Global Real Estate Company plans to move to the JSE's main board from its AltX board listing early next month‚ as it looks to grow its exposure to investors. Read more >>

Taxation & Regulation
Applicability of acceleration clause on default of payment

Nastascha van Vuuren

When a party to a contract defaults on one of their payments, one of the questions that arises is whether the creditor to the transaction is entitled to accelerate payment for the entire amount. Read more >>

Venture Capital
Ministry of Small Business Development must encourage growth
The creation of the Ministry of Small Business Development will bring a targeted and dedicated focus to the small and medium enterprise (SME) sector in tackling the challenges faced and capitalising on opportunities available towards job creation and economic growth. Read more >>


International

Twitter's Rowghani quits
SAN FRANCISCO, USA: Twitter's Chief Operating Officer Ali Rowghani announced he was leaving his post on Thursday, 12 June, amid concerns about sluggish growth at the popular messaging service. Read more >>

SingTel buys mobile advertisers businesses
SINGAPORE: Singapore Telecom, (SingTel) Southeast Asia's biggest telecommunications firm by revenue, said it will buy two mobile advertising companies for a total of $385m to further boost its digital business. Read more >>

Bouygues Telecom cuts workforce by nearly 20%
PARIS, FRANCE: Struggling French telecommunications company Bouygues Telecom said it will cut nearly 20% of its workforce in a move to help it survive in the struggling sector. Read more >>

EU says international companies got 'illegal state aid'
BRUSSELS, BELGIUM: The European Union launched a probe to determine whether the special tax deals offered to Apple and Starbucks by authorities in Ireland, Luxembourg and the Netherlands amount to illegal state aid. Read more >>

Google buys Skybox Imaging for $500m
SAN FRANCISCO, USA: Google announced plans to buy the satellite group Skybox Imaging for $500m, in a move to improve mapping and other services using geospatial data. Read more >>

Valeant's higher offer rejected by Allergan again
NEW YORK, USA: Botox manufacturer Allergan has rejected, for a third time, a takeover bid from Canadian drugs maker Valeant, claiming the increased offer still substantially under-values the company. Read more >>

China Mobile buys stake in True Corp
BANGKOK, THAILAND: Thai telecommunications firm True Corp. has sold an 18% stake in its business to China Mobile for about 28.6bn baht ($880m) under a strategic partnership agreement. Read more >>


More International


Government

Tshwane's deal with DBSA for R1.6bn loan
The Development Bank of Southern Africa (DBSA) and the City of Tshwane have signed a R1.6 billion long-term loan facility to support the City's capital expenditure programme. Read more >>


More Government news


Jobs offered

Senior Bookkeeper - Johannesburg
The Firewater Group is looking for a senior bookkeeper to take control of all day to day financial transactions and planning. Read more >>

Financial Manager - Northern Suburbs (Cape)
Read more >>




New events to diarise

Share Conference
The Eventful Group - 18 Jun 2014 to 20 Jun 2014 Johannesburg

Basic bookkeeping
Pietermaritzburg Chamber of Business - 25 Jun 2014 Pietermaritzburg

Credit and Debt Law Conference
Alpha Omega Events - 1 Jul 2014 Johannesburg

Introduction to derivatives
Paton Training - 3 Jul 2014 to 4 Jul 2014 Johannesburg

Introduction to investment banking
Paton Training - 10 Jul 2014 to 11 Jul 2014 Johannesburg

Financial modelling fundamentals
Paton training - 14 Jul 2014 to 16 Jul 2014 Johannesburg

Treasury operations and treasury risk
Fleming Gulf, Kuala Lumpur - 2 Sep 2014 to 4 Sep 2014 Kuala Lumpur




Upcoming events

Managing accounts payable
Alusani Skills & Training Network - 18 Jun 2014 to 19 Jun 2014 Johannesburg

IWFSA Conference
18 Jun 2014 to 19 Jun 2014 Johannesburg

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

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

Financial modelling For Project Finance Deals
Paton Training - 18 Jun 2014 to 20 Jun 2014 Johannesburg

Share Conference
The Eventful Group - 18 Jun 2014 to 20 Jun 2014 Johannesburg

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


All industry news


Marketing & Media
    The importance of lead generation - Louise Robinson
    Joshua Behrens awarded bursary to The DAVE School in US
    Why advertising agencies lose clients - Chris Moerdyk

    Medical
      SA's high stress increases heartburn, acid reflux
      Philips launches live 3D image guidance tool for tumours

      Retail
        Retail 'therapy' not a good idea for debt-strapped consumers
        Three strategies for successful businesses - Jan de Beer
        Mall developments show no sign of a slowdown - Alistair Anderson

        Government
          Gauteng keeps selling booze on Sundays
          Zuma has to spell out government priorities - in detail
          Satawu to march on SA's civil aviation authority
          Denying education is child abuse - Lebohang Mhlongo

          Mining
            Miners arrested for gold theft

            CSI
              CSI as a brand, brand building in development - Danette Breitenbach

              Agriculture
                Eliminating poverty through agriculture
                New protocol to help curb forced labour
                Low economic growth has a negative impact on food sector

                Building
                  Cape Town to host 21st Africa Oil Week
                  SAIA and Interbuild Africa partners to award bursaries
                  Sustainability the theme of MBSA 2014 Congress

                  GreenBiz
                    R2m waste project to benefit NW youth
                    Greenpop ready for third Trees for Zambia initiative

                    HR & Recruitment
                      Portfolio a valuable tool to boost personal brand
                      Unique leaders are born, exceptional leaders are made - Mark Orpen
                      Executive search sector not affected by recession rumours

                      Legal
                        ENSafrica consolidates position in Mauritius
                        Implications of increased tax-free threshold - Gavin Stansfield and Abdul Allie

                        Property
                          Luxe estate living - the new thing in SA
                          E&V Potchefstroom builds first green home in the area: Part 1

                          Education
                            UCT PhD graduates increase by almost 50% year-on-year
                            SYSPRO honoured at Education Excellence Awards

                            Tourism
                              Indian industrialist acquires interest in SA wine industry
                              Take a virtual journey to Reunion Island
                              ACSA launches airport app

                              ICT
                                World Cup travel tips, IT security in Brazil
                                Delivering corporate value with data - Nick Wonfor
                                Technology is levelling the playing fields

                                Lifestyle & Entertainment
                                  New surfski championships in Durban
                                  John Legend to tour SA
                                  A taste of Brazil at the Shimmy Beach Club

                                  Automotive
                                    Jaguar claws its way to the top - Henrie Geyser: motoring editor
                                    KTM Motorcycles recalls two models
                                    Uber to take Capetonians for a cheaper ride
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