14 Feb 2012

Finance, Accounting & Banking

 

Spread a little love today... or not!

Today's Valentine's Day, which, according to Wikipedia, was first established by Pope Gelasius I in 496 AD to honour a Saint Valentine. Nowadays, of course, many people use it to express affection for others (or simply to drive them mad with vexation over who sent them the card). So basically it is a good day - and this has been your pointless fact of the day.

What also makes it a good day is that Planning Minister Trevor Manuel says the media must not be the state's lapdog, but rather complement the state. He also called for more intelligent public discourse that reaches past the rift between the state and the media. The tiny problem is, of course, that in line with the "official line", he, along with other ANC MPs, voted in parliament last year for a law that critics reckon will muzzle the media - and if the POIB becomes law, could well turn the media into the very lapdog he says he doesn't want. Some people might find this a little confusing.

Also in our news on the government, the Presidency has issued a statement which it reckons clarifies Zuma's recent remarks on the ConCourt in which he seemed to some people to be proposing the ConCourt's powers be reduced.

Down in the Western Cape, the Cape Chamber of Commerce and Industry has welcomed the reduction in port tariffs - which it reckons Transnet has been using as a "cash cow". The reduction should make our exports a little more competitive. Now for airport tariffs, electricity costs and fuel prices...

To finish on a high note (or a low one)... Are you in the retail or manufacturing sector? Do you reckon you're underpaid? See how your salary compares and then, if necessary, have a quiet chat to your boss.

Of course, if your salary is above the average, just don't say a word!

Rod Baker, general manager: content

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Finance, Accounting & Banking


Easing of exchange control regulations, welcomed
Finance minister Pravin Gordhan has kept his mid-term budget promise made in October last year to further ease exchange controls, with a series of recently announced relaxations. Read more >>

Administration


Madiba to appear on new notes
Former President Nelson Mandela will become the first person to appear on the country's banknotes since the dawn of democracy, Jacob Zuma has announced. Read more >>

Banking


RMB, best SA private banking service provider - Euromoney survey
The 2012 Euromoney Private Banking Survey has awarded RMB Private Bank six awards for private banking services, most prominent of which was the overall winner of the best private banking service provider in South Africa and Africa. Read more >>

Absa's Von Zeuner steps down
Absa's deputy chief executive Louis von Zeuner is to step down and move to a non-executive role, but will devote about 60% of his time to Absa and Barclays after the move. Business Day reports he has been with the bank for 32 years. Read more >>

Financial Services


Santam claims card wins in two categories at Paybefore Awards
Paybefore has selected DrawCard's Santam Insurance Claims Card as a 2012 Paybefore Awards winner in two categories - the Best Emergency/Insurance/Non-Government Benefits Prepaid Program as well as the Best non-US based Prepaid Program. Paybefore Awards, now in its sixth year, is the most prestigious recognition of excellence in the worldwide prepaid and stored value card industry. Read more >>

Medscheme explains cost increases
Sound financial governance, not profit, is behind increases in medical aid contributions as schemes strive to maintain solvency ratios, says Kevin Aron, MD of Medscheme South Africa. Aron's comments come as 2012 increases in medical aid contributions have generated public debate, with many people arguing that benefits have shrunk while costs have risen above general inflation. Read more >>

Taxation


Significant gains in different economic sectors
Significant economic results show that the volume growth of electricity was up by 20% year-on-year (y/y) and Business Live says that coal exports from Richards Bay surged by 34,3% y/y in January. Read more >>


International
Proxama in global NFC mobile wallet collaboration with ARM
NORWICH, UK: Proxama, one of the UK's leading providers of near field communications (NFC) mobile commerce solutions, has announced that it is working with ARM to create secure future payment mechanisms for mobile handsets. The collaboration will focus on marrying ARM TrustZone technology with the Proxama Mobile Wallet with the aim of designing highly secure environments for NFC mobile contactless payments and mobile internet payments. Read more >>

Greenwash risk for ethical finance companies
[Mintel Oxygen Reports] LONDON, UK: Acting on their social, environmental and ethical concerns has become second nature for the majority of Brits, but new research from Mintel finds when it comes to finance, cynicism prevails and most consumers feel green and ethical claims in finance are nothing but spin. Indeed, today, nearly two thirds (60%) of Brits believe green and ethical "talk" by finance companies is a PR stunt. Read more >>

More International...


Government
Cape business welcomes R1bn port tariff cut
[Paul Vecchiatto] The Cape Chamber of Commerce and Industry has welcomed the announcement in the state of the nation speech that port tariffs are to be reduced by about R1bn. Read more >>

State has the money to fund infrastructure - Gordhan
South Africa has the money to spend on the infrastructure projects in the five regions outlined by President Jacob Zuma in his State of the Nation Address, the Minister of Finance Pravin Gordhan has said. Read more >>

Zuma details massive infrastructure spend
South Africa will spend billions of rands over the coming years on new infrastructure, with the government to focus on building rail, road, and economic links in five regions in the country and building new universities and refurbishing hospitals, President Jacob Zuma said in his State of the Nation Address last night. Read more >>

SONA in a nutshell
Union and business representatives have welcomed President Jacob Zuma's State of the Nation address to Parliament and, while the speech was held by some observers to be uninspiring it contained a lot of detail about the government's plans to boost jobs and invest in infrastructure. Read more >>

More Government news...


Jobs offered

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Short-term Insurance Sales Consultants - Countrywide
A major financial institution is in the process of launching an exciting range of short-term insurance products. To cope with demand, they need to appoint experienced insurance salespeople. Read more >>
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Government


dti moots small business census
The Department of Trade and Industry wants to run a regular small business census to help improve its support and funding to the sector as part of a revised policy to boost support to small businesses. Read more >>

Business confidence falls in January
Business confidence fell to its lowest level since May 2010, the South African Chamber of Commerce and Industry (SACCI) said. Read more >>

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