Interest rate unchanged but outlook bleak

The South African Reserve Bank's Monetary Policy Committee (MPC) has left the repo rate at 5,5% because, according to Governor Gill Marcus, South Africa and the global economy face a bleak outlook at the moment. Read more >>

Bidvest shows profits of R848-million

Bidvest Bank has increased its operating profit to R848-million after a strong performance, expansion and a more diversified range of income-producing activities. Read more >>

Statistics indicate improvement in credit rating

As at end of June 2011, credit bureaus had records for 18.84 million credit-active consumers, an increase of 1.3% over the 18.60 million of the previous quarter. Consumers classified in good standing increased by 69 000. This was a 0.3% decrease in proportion to the total number of credit-active consumers and a 0.2% increase year-on-year. Read more >>

Balancing inflation, economic performance

[Dr Andrew Golding] Maintaining the repo rate at current levels should be seen in the context of the opposing forces of rising inflation in South Africa (normally a precursor to increasing rates) and calls among some market commentators for the interest rate to be further reduced due to the lacklustre performance of the local economy. Read more >>

Wesbank's paperless finance contract

[Paddy Hartdegen] Wesbank's locally-developed iContract software system - that allows customers to sign finance deals online - is running and Wesbank says the web-based system will provide a secure environment that is simple to use and will guide users through the final process of acquiring a new vehicle. Read more >>

Over 1700 gather for 2011 Discovery Invest Leadership Summit

[Issa Sikiti da Silva: @sikitimedia] More than 1700 delegates from different parts of the world and all walks of life gathered at the Sandton Convention Centre in Johannesburg on 21 September, for the 2011 Discovery Invest Leadership Summit to hear eminent speakers such as Graca Machel, Al Gore and Maria Ramos intelligently unpack leadership strategies and their impact on global, economic and management issues. Read more >>

Madonsela - we must be beyond reproach

Speaking at the SA Revenue Service (SARS) National Legal Workshop in Durban, public protector Thuli Madonsela said that wrongdoers will use faults to try to elicit sympathy - "we must be beyond reproach", she said, thanking the organisers for the opportunity to listen to an overview of the Tax Administration Bill and discuss pertinent operational and strategic issues with a view to enhancing service delivery. Read more >>

SA celebrates World Maritime Day

PRETORIA: The South African Maritime Safety Authority (SAMSA) recently joined the rest of the world in celebrating World Maritime Day. World Maritime Day is observed every year in September to focus attention on the importance of shipping safety, maritime security and clean seas. Read more >>

Trashing your boss on Facebook not allowed

The Commission for Conciliation, Mediation and Arbitration has upheld the dismissal of two senior employees who exchanged rude and snide remarks about their much younger boss and his family members who had been brought in to help manage the business. Read more >>

Mamelani Projects youth host art exhibition

Artwork created by Cape Town's youth was put up on exhibition earlier this month at The Grand in Granger Bay. The young men whose work was exhibited are all participants in Mamelani's Youth Development Programme, Project Lungisela, which aims to prepare young people for the transition out of state care, particularly children's homes. Read more >>

SA can expect more natural disasters

[Kemantha Govender] DURBAN: The latest scientific reports show that South Africa will become drier in the west and wetter in the east. This means the country will experience an increase in the frequency of severe weather events, such as drought, tornadoes, floods, and other natural disasters. Read more >>