29 Jan 2013

Finance & Insurance

 

Beware the angry jobless...

We're all aware of the unemployment problem in this country, but other than thousands and thousands of words, the issue has not seen any great change, but now a warning has been sounded... Evan Pickworth, addressing an economic conference last week pointed out a stark warning on the potential threat we face in the form of rebellion by a jobless youth, desperate and frustrated.

We need to sit up and take notice - and then actually do what is needed to defuse what could be a very explosive situation.

On the mobile front, Mark Schefermann looks at the future of the mobile voice.

So why were they closed in the first place? After years of calls from various quarters to re-open the teacher training colleges, which the government closed soon after taking power, the Minister of Higher Education Blade Nzimande has now announced that teacher training colleges are to re-open. Many might say, about time, but too late... the education system is already a shambles.

Don't you wish you were a consultant to a government department? Well, perhaps you are...if so, you should be happy with your share of the R24.6bn spent on consultants in a three-year period - yes, that's R24,600,000,000. Now the Office of the Auditor General has called for stricter controls on the use of consultants by government. To put this into perspective: if you spent R10,000 a day, every day, to spend this amount of cash would take you 2,460,000 days - or six thousand, seven hundred and fifty eight years and three months. Happy spending!

Onto some good news...Kruger has reopened roads, camps and picnic spots.

Rod Baker: Content Director

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Finance & Insurance

Repo rate unchanged at 5%
PRETORIA: The Reserve Bank's Monetary Policy Committee (MPC) has kept the repo rate unchanged at 5% in line with market expectations. Read more >>


Insurance

Gay couples need "proof" to benefit from pension fund
[Mpho Sibanyoni] The office of the Pension Funds Adjudicator has ruled that people in same-sex relationships need to be able to prove that they were in a relationship to benefit from their spouse's pension fund when they die. Read more >>


Banking

Standard Bank listed as sustainable
Standard Bank has been ranked 98 on the Global 100 Most Sustainable Corporations in the World list and is the only African company on the list. Read more >>

Credit card spending tops R116bn for December
[Helmo Preuss] The total spending via credit cards in December was estimated at about R116bn‚ BankservAfrica said on Thursday (24 Janauary) Read more >>

Visa says cash is dethroned as king
Growing numbers of South Africans are using debit cards for everyday purchases‚ signaling a shift in the "cash is king" principle that is typical of emerging markets‚ said electronic payments company‚ Visa on Thursday (24 January). Read more >>

FutureBank Africa 2013 is ready to discuss innovation!
[Issued by Terrapinn Limited] Terrapinn Limited is proud to announce that Mr Paul Steenkamp, Head of Employment Branding and FNB Innovators, First National Bank will be presenting a keynote presentation at Future Bank Africa 2013 conference and exhibition. Read more >>

Taking banking to the people
[Craig Aiken] The banking industry faces a mammoth challenge to reach and register the vast numbers of "unbanked" people in Africa and Asia, many of whom are located in rugged and remote areas. In addition, they are facing significant competition from retailers and mobile network operators, who have made inroads into these markets with point-of-sale and mobile phone technologies. Read more >>


Credit Services

Four things to consider before applying for a car loan with bad credit
[Joy M] Applying for a car loan while confronting your bad credit history seems an unlikely financial mix. However, prevailing market condition, along with careful review of credit history and financial options make the task not only easier but also highly possible. Read more >>


Finance, Accounting & Banking

First-time buyers still buying property
The FNB Estate Agent Survey released on Monday (28 January) showed that first-time buyers accounted for 23% of the residential property market in 2012‚ the same level as in 2011. Read more >>

Africa's payments, banking and retail show
[Issued by Terrapinn] Following the success of the 2012 event, Africa's payments, banking and retail show is ready to go again! Four seminars covering retail innovation, banking innovation and new payment solutions and data security will allow the visitor to come away with great content and ideas for their business. Read more >>


Investment Management

Listed property best performing asset class again
The listed property market in 2013 should be another good year, as this sector can predict its short-term performance with good levels of accuracy, because its performance is underpinned with rental income from contractual agreements. Read more >>

Altech buys stake in Liquid
Altech has agreed to buy 8.6% of Liquid‚ a company which operates and owns one of Africa's most extensive fibre optic networks. Read more >>

Arrowhead buys Indite Property Fund
[Nick Hedley] Listed property loan stock company Arrowhead Properties said on Wednesday (23 January) it will buy 100% black-owned and managed Indite Property Fund‚ as part of its growth and black economic empowerment strategies. Read more >>

Airlines object to Fastjet's bid for 1time
[Nicky Smith] Almost all of SA's large airlines are formally objecting to the threat posed by UK-based Fastjet's attempts to enter the local market by taking over the operations of 1time Airline‚ which is in provisional liquidation‚ Business Day reports. Read more >>

Brimstone will keep investing in healthcare
[Phakamisa Ndzamela] Investment company Brimstone said talk of a pricing commission to regulate the charges of private healthcare would not dissuade it from investing in the sector. Read more >>


Taxation

Gordhan likely to target rich for taxes
[Linda Ensor] The government was likely to follow the global trend towards more onerous taxes on wealthy people and could move in this direction in the forthcoming 2013-14 budget‚ Deloitte director Luke Barlow told Business Day on Tuesday (22 January). Read more >>

SARS deadline looms
PRETORIA: The South African Revenue Service (SARS) has reminded taxpayers that the submission of 2012 income tax annual returns (ITR12) by provisional taxpayers who use the eFiling system is on 31 January 2013. Read more >>


International
Exxon replaces Apple as world's most valuable company
NEW YORK, USA: Last week Apple was dethroned as the world's most valuable company as its shares continued to fall, dropping from a high of about US$700 to US$439 a share and giving it a market capitalisation of US$413bn. Read more >>

Informa analyst comments on Nokia's results
LONDON, UK: David McQueen, principal analyst at Informa Telecoms & Media, comments on Nokia's financial results. Read more >>

Informa analyst comments on Apple's results
LONDON, UK: Andy Castonguay, principal analyst at Informa Telecoms & Media comments on Apple's financial results. Read more >>

Iron ore production boosts BHP Billiton
MELBOURNE, AUSTRALIA: Mining giant BHP Billiton on Wednesday (23 January) reported that iron ore production in resource-rich Western Australia recorded another strong performance in the six months to December, while petroleum output was steady. Read more >>

More International...


Government
Engineers worried by A-G's report
There would be no service delivery if government did not use the services of consulting firms, Consulting Engineers SA (CESA) said last week. Read more >>

R24.6bn spent on consultants
The Office of the Auditor General on Thursday called for stricter controls on the use of consultants by government after a performance report found that eight government departments had spent R24.6bn on consultants in a three-year period. Read more >>

Presidency disappointed at FNB adverts
The Presidency says it is "disappointed and surprised" by the one-sided First National Bank campaign. Read more >>

SA will not create 5m new jobs says Mkhize
[Sam Mkokel] The government's target of creating 5m jobs by 2020 is unlikely to be met because of a range of factors including labour unrest and the strained relationship between the state and big business‚ says Economic Development Deputy Minister Hlengiwe Mkhize. Read more >>

More Government news...


Jobs offered
Accountant - Johannesburg North
Read more >>

Direct Marketing Assistant - Southern Suburbs - Cape
Read more >>

Assistant Accountant - Cape Town - Kenilworth
Read more >>

Business Analyst - Southern Suburbs - Cape
Read more >>

Regional Underwriters - Pretoria/Port Elizabeth/Bloem
Read more >>


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Trevor Davies
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