23 Oct 2012

Finance & Insurance

 

SA defence industry needs investment

SA's arms industry is highly developed, but more investment is needed to keep SA in the technology race if it is to remain competitive. Not only can the sector be a far bigger foreign-exchange earner, but it can also be a far bigger generator of skills and jobs.

Some of us might sometimes think of the agricultural sector as one in which technology is used in farm machinery, some farm operations, and not much else. Wrong! The sector, in fact, is evermore technology "savvy" and now agriculture is sparking the creative talents of developers.

SA has entered the war on piracy, and now there has been a large order for an SA-designed VPS Anti-piracy device. South African company Vessel Protection Systems (VPS) has won a large order to supply commercial charterers with more than 90 anti-pirate devices invented and perfected by VPS in Cape Town.

South African Airways has plans for new investments, so the government guarantee for SAA is "not a bail-out", or so the cash-strapped airline's annual general meeting heard last week.

Rod Baker, content director

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Finance & Insurance


Africa can look forward to positive economic growth - DHL
DHL Express, the world's leading logistics company, says that figures recently released by the International Monetary Fund (IMF) as well as the company's own shipment numbers, reveal an extremely positive economic outlook for Africa, and to an extent, South Africa. Read more >>

SAQA recognises FPI as an independent professional body
The Board of Directors of the South African Qualifications Authority (SAQA) has approved the The Financial Planning Institute's (FPI's) application for official recognition as an independent voluntary professional body in accordance with the NQF Act 67 of 2008. The SAQA further approved registration of FPI's designations on the National Qualifications Framework. Read more >>

Property funds: who is monitoring corporate governance?
[Heidi Franck] When an individual invests money in listed property funds, there is an inherent sense of trust involved. To this end, the JSE has strict listing requirements in terms of how business is conducted, to protect both shareholders and purchasers. Read more >>

South Africa to host AfricSEA Business Forum 2012
The fourth annual Africa and South East Asia (AfricSEA) Business Forum will take place on 1 and 2 November 2012 at the Sandton Convention Centre in Johannesburg. The forum, a first of its kind in South Africa, looks to offer Asian investors new and privileged investment opportunities that will springboard them to collaborative success across the two regions, Africa and Asia, the growth engines of tomorrow. Read more >>

Insurance


Insuring your breast assets
[Robyn Farrell] It is estimated that 8,676 women will be affected by breast cancer in 2015 [1]. With October earmarked as Breast Cancer Awareness Month in South Africa, this is a time where we remember the women who have battled the disease and also consider the ways that we can protect ourselves. Read more >>

Labour says it found jobs for 96,505 people
The public employment service of the department of labour has placed 96,505 people in jobs, the department said on Tuesday. Read more >>

Assupol signs deal with women's group
[Phakamisa Ndzamela] Demutualised insurer Assupol signed a deal with Women's Development Businesses Investment Holding (WDBIH) last week‚ a transaction that will see the insurer issuing a 10% stake for R30m. Read more >>

Banking


Absa want to become 'bank of choice' says Ramos
[Sure Kamhunga] Absa Group chief executive Maria Ramos on Monday, 15 October 2012, said she wanted to raise the bar in service delivery and product development and make the Barclays-owned bank the first choice among customers. Read more >>

Credit services


Controversy over Newcastle's deal with Wonga
English Premier League side Newcastle United on Tuesday unveiled a sponsorship deal with loans company wonga.com, sparking criticism and concern because of the firm's reputation for charging sky-high interest rates. Read more >>

Financial services


Retirement Expo offers advice for your twilight years
The second annual Retirement Expo will take place from 26 to 28 October, 2012, at the Coca-Cola Dome, Joburg, and is targeted at all those wishing to equip themselves with enough knowledge to plan for an inspired and meaningful retirement. Read more >>

African Bank selects a Z-Card
African Bank recently selected a Z-Card as part of its marketing mix to generate awareness that it now provides interest free, short-term loans to foreign nationals who are formally employed and residing in South Africa. Read more >>

Investment banking


SA gains ground on Mauritius
In the race between Mauritius and South Africa for the most investor-friendly holding company regime for private equity, South Africa is gaining ground on its island rival. An analysis of the impact of South Africa's latest efforts to establish itself as an attractive gateway into Africa shows that the country is narrowing the gap in terms of tax and exchange controls, says Doelie Lessing, director in corporate tax at Werksmans Attorneys. Read more >>

Investment management


India central bank examining Wal-Mart allegations
NEW DELHI, INDIA: India has asked its central bank to examine allegations that US retail giant Wal-Mart has illegally invested in Indian supermarkets since 2010, the Press Trust of India reported Thursday. Read more >>

Traders revert to traditional strategies, shift to rand-sensitive stocks
[Nilan Morar] The flurry of negative news that has dominated South Africa in recent weeks, including the downgrade by Standard & Poor's, labour strikes and political uncertainty in the run-up to Mangaung, have filtered through to the local financial markets, with retail investors attracted to the anticipated safety of rand-sensitive stocks. Read more >>


International
HSBC says websites hit by cyber attack
HONG KONG: Banking giant HSBC said Friday some of its websites had been hit by a "large scale" cyber attack that disrupted online services, but it assured customers that their data were not compromised. Read more >>

OM economist: labour unrest highlights SA's lack of competitiveness
According to Fin24, an economist said on Tuesday that South Africa's economic prospects have become dimmer and could worsen due to widespread labour unrest. Read more >>

More International...


Company news

Finance & Insurance


Bizcommunity.com partners up with Placement Partner recruitment software system - Bizcommunity
Bizcommunity.com now offers integration with Placement Partner, a software system designed for recruitment companies to manage and store data relevant to every step of the recruitment process. Read more >>

V&A Waterfront to host Cape Town Corporate Games 2013 - Corporate Games
3rd South Africa, the Official Licence Holder of Corporate Games South Africa, are excited to announce that the Corporate Games will once again be held in Cape Town. Read more >>


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