18 Dec 2012

Finance & Insurance

 

Thank you for your support in 2012

Today sees our last newsletters for 2012, with the first of our new industry newsletters to be published on 15 January 2013, but we will keep on updating the new industry portals over the festive season.

We'd like to take this opportunity to thank you all for your continued support; our subscribers across all our portals continue to grow; in fact, in our new industries alone, we are now closing in on 70,000 subscribers, and for that we thank you.

We want to wish all of you a very enjoyable end-of-year break and - assuming the world doesn't end on Friday (You've heard about the predictions around the Mayan calendar, right?) - we wish you a highly successful 2013.

All the best from the Bizcommunity team!

Rod Baker: Content Director

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

Top stories


Editorial news

Finance & Insurance


Access to credit still easy in South Africa - World Bank report
According to the World Bank's 2013 Doing Business Report, South Africa has been joint-ranked, along with Malaysia and the United Kingdom, as the easiest country in the world for small and medium-sized enterprises (SMEs) to access credit. Read more >>

Reserve Bank heads to take a salary freeze
PRETORIA: Reserve Bank Governor Gill Marcus, the bank's deputy governors, together with the bank's board members - have decided to forgo salary increases in 2013 - given the global economic outlook, said the central bank. Read more >>

Monetary, fiscal, financial institutional structures important for inflation targeting
University of Cape Town doctoral student Seedwell Hove's Ph.D. research, titled Monetary policy, institutions and terms of trade shocks in emerging market economies, finds that monetary, fiscal and financial institutional structures are important for the success of inflation targeting in emerging market economies (EMEs). Read more >>

Insurance


Positive outlook for MMI and its subsidiaries
Fitch Ratings has given South Africa-based Metropolitan Life, Momentum Group, and the parent company MMI Holdings a positive rating. Previously the companies were rated as stable. Read more >>

Ways to check insurance claims will be paid
Before you head off on holiday, make sure your insurance is in place. Know what you're covered for, and that if you are robbed, your claims will be paid. Just because your jewellery is covered for theft inside your home doesn't mean it will covered outside your house. Read more >>

The insurance implications of festive season entertaining
[Christelle Fourie] During the holiday season many home owners entertain family and friends at their home or holiday home; yet the reality is that these people may be placing themselves at risk of a number of liability issues if they do not fully understand their insurance policy. Read more >>

Banking


FirstRand gets credit line of US$300m
[Sure Kamhunga] FirstRand has received a US$300m seven-year multi-currency credit line from the African Development Bank (AfDB) to on-lend to clients in their local currencies in several markets in Africa. Read more >>

More public sector accounts for Standard
[Phakamisa Ndzamela] Standard Bank said on Wednesday (12 December) its public division had signed 13 new public accounts in the past year‚ 44% more than those signed in 2011. Read more >>

Financial Services


Imara loses P7.63m in six months
With hopes of increased investment flows into Africa failing to materialise Botswana-based Imara Holdings suffered a total loss of P7.63m for the six months ended October. Read more >>

SA's 'bean-counters' more upbeat than global peers
[Evan Pickworth] Up to 90% of South Africa's chief financial officers in mid-sized companies have high expectations for future revenue growth from their international operations‚ according to BDO's third Global Ambition survey. Read more >>

Building plans up 2,5%
The real value of building plans passed (at constant 2010 prices) increased year-on-year by 2.3% to R1,192.9m between January and October this year. Read more >>

Investment Management


Musgrave building sold for R65m
[Zeenat Moorad] SA Corporate Real Estate Fund has agreed to buy the Musgrave building in Durban for R65m. The building is owned by Old Mutual Life Assurance Company (OMLACSA)‚ and occupied by PricewaterhouseCoopers (PwC). Read more >>

Vukile rights offer raises R340m
[Thabang Mokopanele] Property loan stock company Vukile Property Fund said on Monday (10 December) it managed to raise R342.8m following its rights offer of 20‚525‚000 new linked units‚ representing 4.99% of the total number of linked units in issue. It will use the money to repay debts and reduce gearing. Read more >>

Upping your investment game
[John Roberts] Financial institutions have marginally relaxed their lending criteria, showing a greater appetite for risk than a year ago, as reflected in the high percentage of bond approvals. One of the country's leading banks is now regularly granting 100% loans to salaried applicants seeking properties below the R1.5 million threshold. Read more >>

Taxation


DA asks SARS to check Zuma's tax compliance
[Linda Ensor] The Democratic Alliance (DA) has asked the South African Revenue Service (SARS) commissioner Oupa Magashula to investigate whether President Jacob Zuma and his donors paid taxes on the millions of rand - apparently more than R7m - that was allegedly transferred to him between 1995 and 2006. Read more >>


International
Renault sells stake in Volvo trucks
PARIS, FRANCE: Renault has sold its stake in Swedish truck manufacturer Volvo AB for €1.5bn to cut debt and make strategic investments. Read more >>

More International...


Government
Incentives for making taxis in SA
[Linda Ensor] The Department of Trade and Industry has created a special automotive incentive scheme for mini- and midi-bus taxis in a bid to provide incentives for local assembly and production. Read more >>

Reserve Bank heads to take a salary freeze
Reserve Bank Governor Gill Marcus, the bank's deputy governors, together with the bank's board members - have decided to forgo salary increases in 2013 - given the global economic outlook, said the central bank. Read more >>

Scopa seeks to expel North West MECs
The Standing Committee on Public Accounts (Scopa) in the North West called for the expulsion of two MECs on Tuesday (11 December) Read more >>

More Government news...


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