13 Dec 2011

Finance, Accounting & Banking

 

Roll on 2012

Happy Bizmas!Well, this is our last newsletter for 2011, but we will be back with our first newsletter for 2012 on 10 January. In the meantime we will continue to update the site, but at a lower rate since a great many of you, being far cleverer than us, will be relaxing on holiday or at home with friends and family, and work will be the last thing on your mind.

So, from the Bizcommunity team, our best wishes to all of you - our readers, subscribers, contributors and your friends and families - we hope you have a wonderful and restful festive season and we'll see you back in 2012.

Drive safely, drive defensively, and be safe.

The Bizcommunity Team

Submit your company news to financenews@bizcommunity.com. Exclusive contributions may be sent to contributors-finance@bizcommunity.com.

Top stories


Editorial news

Accounting and Auditing


New lease accounting standard needs immediate attention by companies
[Theunis Schoeman] Globally, there is in the region of USD1 trillion in operating leases in existence and about 70 percent of them appear nowhere on corporate balance sheets. This unfortunate state of affairs has concerned the International Accounting of Standards Board (IASB) for some time, and it has now decided to do something about it. Read more >>

Donen report clears Motlanthe, Sexwale
Deputy president Kgalema Motlanthe, human settlements minister Tokyo Sexwale as well as the former director-general for the Department of Minerals and Energy, Sandile Nogxina, had not contravened any South African law concerning the United Nations' Iraqi Oil-for-Food Programme. Read more >>

Banking


Busa, Cosatu at odds over partnerships
While Business Unity South Africa (Busa) wants the private sector to form partnerships with government to boost economic growth, the Congress of South African Trade Unions (Cosatu), according to Mail & Guardian, says that these partnerships will be of little benefit and urged the government to boost job creation by investing in infrastructure development. Read more >>

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Credit Services


Beetar appointed as MD for Experian SA
Michelle Beetar has been appointed MD for Experian South Africa, a supplier of credit management solutions. She succeeds Jim Fick, who will be taking on an executive role at Experian Global. Read more >>

Financial Services


Three provinces on verge of collapse
According to a Times Live report, a looming economic crisis in Limpopo, Free State and Gauteng has forced the National Treasury to provide billions of rands to prevent a collapse of these provinces. Read more >>

Arendse joins BoE as regional head for Gauteng
Niven Arendse has been appointed the regional head: Gauteng for wealth manager BoE Private Clients. Read more >>

Revive IMF program or no assistance, donors tell Malawi
[Gregory Gondwe: @Kalipochi] Malawi's donors under the Common Approach to Budget Support (CABS) have asked the country to revive its International Monetary Fund (IMF) program or forget their financial assistance. Read more >>

Investment Banking


SA Treasury considers Islamic-law compliant bond
SAinfo reports that South Africa's National Treasury has invited banking institutions to submit proposals to assist in providing advisory services and in the structuring and issuance of a government Islamic bond, or Sukuk, both locally and internationally. Read more >>


International
Four in five US consumers won't tolerate a monthly debit card fee
CHICAGO, US: Consumers are quickly becoming fed up with banking fees. If your financial institution began charging US$2/month for the convenience of having a debit card with your cheque account, what would you do? Read more >>

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Government
BUSA predicts 3% GDP growth in 2012
Business Unity South Africa (BUSA) says it expects South Africa's economy to grow by 3% in 2012. Read more >>

Cabinet cracks whip on non-compliance
Cabinet has announced that it will intervene in the financial administration of three provinces in the country. The move, which was taken after a special Cabinet meeting on Monday, aims to address under-spending, overspending and challenges with supply chain management. The three provinces are Gauteng, Free State, and Limpopo. Read more >>

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admin & accounts at On Tap Cape Town
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call centre at FnB
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