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Finance & Insurance

Weekly top stories


Debit order system a convenient service
The key to ensuring that debit orders are correct is by using written mandates that authorise a company to process debit orders on a client account on a regular basis. read more>>



Finance
Write reports people will actually read

Marion Scher

I was recently asked to coach two young women whose sole job was to prepare their company's annual general report. That was all they did... read more>>
Actuarial & Insurance
Vehicle theft costs insurance industry billions
The majority of the R8.5bn worth of vehicles annually stolen and hijacked in South Africa are taken across the border to neighbouring countries. read more>>
Innovative app revolutionising an industry

Issued by CustomApp

Every so often, a new development emerges that sets out to revolutionise a particular industry. In this instance, it is an app that is proving to be a game changer when it comes to combating fraud within the insurance industry... read more>>
Sanlam earnings up 27% in six months to June
Diversified life assurance and asset management group Sanlam lifted first-half headline earnings per share (HEPS) by 27% to 214.8c‚ the group announced. read more>>
Education & Training
Ithala launches 'Teach Children to Save' campaign
KZN's provincial development finance agency, Ithala has launched the 'Teach Children to Save' campaign to inspire youth through financial literacy. read more>>
'Mind your moolah' again supported by Samsung
For the third successive year, Samsung Electronics South Africa will partner with PrimeStars Marketing for the screening of Smartbucks 'Mind your moolah' initiative... read more>>
Final round of maths olympiad to reveal SA's top young mathematician
Next Friday, 12 September marks the final round of the South African Mathematics Olympiad (SAMO), when South Africa's top young mathematician will be revealed. read more>>
Financial Services
Choosing the right financial advisor is crucial

Greg Stockton

The best way to secure financial freedom is to devise, implement and manage a sound, tailor-made strategy with an independent financial adviser (IFA). But choosing the right IFA, a professional who will manage your money and help you meet your long-term objectives, is not always easy. read more>>
Markets & Investment
Online shopping no threat to malls

Joan Muller

Does the rise of consumers who shop online signal the death of the traditional mall? Not necessarily. read more>>
SA building companies thriving in Australia

Nick Hedley

The shift towards highrise apartment living in Australia is reflected in the order book of construction firm Wilson Bayly Holmes-Ovcon (WBHO), whose pipeline of work in that country has ballooned on mall and apartment building contracts. read more>>
Special Economic Zone Act will attract foreign investments

Chris Mashigo

New investor incentives and benefits from the Special Economic Zone (SEZ) Act 2014 in South Africa will attract further domestic and foreign direct investment to South African industrial and special economic zones. read more>>
ARM declares R6 dividend per share

Allan Seccombe

African Rainbow Minerals (ARM) paid an increased annual dividend after its platinum division performed strongly and the group's results were underpinned by a sound performance at its ferrous division. read more>>
Minimum wage has serious implications for business
Business organisations urged caution about the implementation of a national minimum wage, which they warned could result in widespread job losses as employers try to cut operational costs. read more>>
Mr Price sees 16% sales rise in 18 weeks
Mr Price has reported a 16% sales rise for the 18 weeks to 2 August and seen its budget-friendly offerings continue to appeal to shoppers who are struggling in an ailing economy. read more>>
African Equities team will expand Investec's footprint
Investec has announced the launch of the African Equities division which will form part of Investec Securities. read more>>
Rhodes Food hopes to raise R600m by listing
Ready meal and jam manufacturer Rhodes Food Group (RFG) announced its intention to list on the JSE's main board, joining companies like Pioneer Foods and Tiger Brands, owner of the popular Koo canned food range. read more>>
Virgin Atlantic dumps direct flight to Cape Town
Virgin Atlantic announced that it is ending its direct London-to-Cape Town flights, to change focus to key markets in the UK and US. Flights will end in April next year. read more>>
Neotel wants to extend fibre, wireless throughout SA
Fixed line operator Neotel, which is involved in the provision of broadband services to the Western Cape, aims to spend up to R500m in the coming year to boost fibre and wireless infrastructure across SA. read more>>
HSBC's PMI higher at 51.1 for August
Operating conditions improved in the local economy in August, the first improvement in five months, as production normalised after a strike-heavy first half of the year‚ the HSBC index indicated. read more>>
Exports of vehicles increase in August
Vehicle exports bounced back last month as Mercedes-Benz South Africa (MBSA) finally got into the production swing with its new C-Class sedan. read more>>
Earnings at Eqstra Holdings drop 26.3% to 76.7c
Full-year headline earnings per share (HEPS) at diversified industrial logistics group Eqstra Holdings were down 26.3% to 76.7c for the year to June‚ although revenue was up by 9.8% to R9.9bn. read more>>
JD Group to sell finance unit‚ market speculates over buyer

Colleen Goko

JD Group (JDG)‚ a subsidiary of furniture manufacturer and retailer Steinhoff (SHF)‚ earlier this week said that it intended to sell its finance unit to an international consumer finance group‚ adding that the deal‚ which did not include its insurance operations‚ had yet to be finalised. read more>>
Mooi River municipality disbanded, councillors fired

More Matshediso

Mooi Mpofana municipality in Mooi River has been dissolved and its seven councillors fired, Nomusa Dube-Ncube the MEC for Co-operative Governance and Traditional Affairs (Cogta) told media on Wednesday (3 September). read more>>
Taxation & Regulation
Changes in Taxation Laws Amendment Bill in spotlight

Rob Cooper

The draft 2014 Taxation Laws Amendment Bill (TLAB) brings with it some important proposed changes to the formula that employers use to calculate the fringe benefit value of their contributions to employees' defined benefit funds. read more>>
Scrap metal 'unaffordable' in SA

Mark Allix

The scrap metals industry has a complex and often adversarial relationship with the foundries industry and many countries impose duties to prevent exports of scrap metals, while also heavily subsiding their metals industries, despite World Trade Organisation rules. read more>>
International
Smartphone makers seek growth in India
NEW DELHI, INDIA: Smartphone manufacturers are in a race to capture the bottom of India's economic pyramid as they battle for customers in the fast-growing low-end market where analysts say opportunities are vast. read more>>
Verizon to pay $7.4m for privacy violations
WASHINGTON, USA: US telecommunications company Verizon has agreed to pay a $7.4m fine to settle a probe into its privacy practices, including accessing customer data for marketing purposes, officials have confirmed. read more>>
Google to repay $19m for apps bought by children
WASHINGTON, USA: Google has agreed to issue at least $19m in refunds to consumers whose children made app purchases from its Google Play store without parental consent, officials have confirmed. read more>>
Vice Media valued at $2.5bn
WASHINGTON, USA: Vice Media, the Brooklyn-based online news operation which has a strong following among 18- to 34-year-olds, has secured $500m in funding giving it a valuation of $2.5bn, according to reports in the New York Times and TechCrunch. read more>>
US mobile wallet Isis rebrands as Softcard
WASHINGTON, USA: US mobile payments firm Isis has officially changed its name to Softcard, completing the process of distancing itself from a militant Islamic group sometimes known by the same acronym. read more>>
Samsung, Philips and Infineon fined for cartel
BRUSSELS, BELGIUM: The European Commission has fined Infineon, Philips and Samsung a total of €138m for forming a smartcard chip cartel in Europe in its latest anti-trust case against technology firms. read more>>
More International
Government
Cele wants stock theft to have same priority as cash heists
Stock theft should be given the same level of priority and attention as cash heists in the fight against crime, says Agriculture, Forestry and Fisheries Deputy Minister General Bheki Cele. read more>>
Shackles of unemployment may be broken through partnerships
Deputy President Cyril Ramaphosa says the country needs to break the shackles of economic exclusion so young people can get jobs. read more>>
Nene assures South Africans their pensions are safe
Finance Minister Nhlanhla Nene has called on South Africans to refrain from cashing in their provident fund savings when they resign or change jobs, adding that rumours that their retirement savings are under threat were "false". read more>>
New Hyundai plant will benefit SA economy
The South African economy is set to benefit from the new Hyundai plant which has opened in Benoni, Ekurhuleni. read more>>
Committee to probe allegations against tax official
A Committee of Investigation has been set up to look into complaints of impropriety against Johann van Loggerenberg, a senior official at the South African Revenue Service (Sars). read more>>
Sefa gives R800m to 40,000 small businesses
The Small Enterprise Finance Agency (Sefa) has funded over 40,000 small and medium enterprises over the past year, says the organisation's Chief Executive, Thakhani Makhuva. read more>>
Outa seeks answers to road costs
The Opposition to Urban Tolling Alliance (Outa) has called for a commission of inquiry to determine how the cost of the Gauteng Freeway Improvement Project tripled to R20bn in six years. read more>>
More Government news
Jobs offered
Senior Accountant - Cape Town
Stellenbosch University currently seeks to appoint a suitably qualified and experienced senior accountant (Ref. FIN/260/0714). Applications close: 12 September 2014 Read more >>



New events to diarise
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Upcoming events
Chinese law and investments in Africa
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Insurance Data and Predictive Analytics Conference
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One hour demonstration with Johan Marais
Directxec - 10 Sep 2014 Pretoria

Executing Strategy in a New Economy
Business Results Group - 11 Sep 2014 Johannesburg

Course in economic crime schemes
Continuing Education at the University of Pretoria - 15 Sep 2014 to 19 Sep 2014 Pretoria

All industry news

Marketing & Media
    Coca-Cola adds fizz to Creative Circle
    UK Oscar ad gets a 'paddywhack' - Delene Bertasso

    Retail
      Wallet One comes to South Africa
      Instant promo success, but potential long-term loss...? - Jason (Frich) Frichol
      Cotton On launches AR

      Government
        Attract youth to academia says Zuma
        Basic services helping the poor says Stats SA
        Domestic workers to be covered by compensation act

        Mining
          iPAD DRC Mining & Infrastructure Indaba celebrates 10 years
          Amplats Alchemy project companies win IAIAsa award

          CSI
            Gary Player Invitational celebrates 15 years of 'giving golf a heart'
            Whiskas donates R250k to Cheetah Outreach Trust
            Tsogo Sun sponsors educational environmental tutorial

            Agriculture
              Summit was really all about land ceilings, says Grobler

              Building
                GVK-Siya Zama awarded contracts for special schools
                Conference to discuss financing for power projects in Africa

                GreenBiz
                  Water Wise garden unveiled at Pretoria botanical gardens
                  Water Week: Crafting solutions that work for Africa
                  Economic value of trees central to NDP - Nthambeleni Gabara

                  HR & Recruitment
                    Drug abuse in the workplace - a growing problem for South Africa - Rhys Evans
                    Entrepreneurs need assistance to access funding
                    Launch of FNB Business Innovation Awards announced

                    Legal
                      New Companies Act and security for legal expenses - Brigit Rubinstein
                      Competition Tribunal approves merger transactions - Lerisha Naidu and Nazeera Mia
                      White paper a framework for new ICT legislation - Mariska van Zweel and Simone Gill

                      Manufacturing
                        State blamed for slow beneficiation of minerals

                        Property
                          View your prospective property, virtually
                          SA REIT Conference to offer insight and debate on listed property sector

                          Education
                            State-of-the-art medical simulation lab in aid of clinical education
                            Women are the engineers of the future, says Vallabh

                            Tourism
                              FlightSite wins a World Travel Award for innovation
                              Tourism Minister delivers opening speech to E-Tourism Africa Summit

                              ICT
                                Preparing for the cloud - laying the foundations for success - Pippa Wilson
                                The value of gender parity in technology - Louise O'Sullivan
                                Power protection for home connectivity - Elrica Quick

                                Logistics
                                  Aviation Africa 2015 welcomes main sponsors

                                  Lifestyle & Entertainment
                                    Comic's Choice Awards winners in one-off gig
                                    Zebra & Giraffe knuckle down - Ruth Cooper
                                    I'm loving it - Eugene Yiga

                                    Automotive
                                      New Golf R boasts with newly designed engine
                                      VW spruces up popular Vivo - Henrie Geyser: motoring editor
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