19 Mar 2013

Finance & Insurance

 

Do not waste that water!

We live in a country in which water is not as plentiful as we'd like, so it makes sense that conserving water is the theme of Green Office Week (GOW). GOW this year takes place from Monday, 22 to Friday, 26 April.

TopTV wants to broadcast porn, and many people and religious groups don't want them to - so it seems there is a TopTV porn boycott looming. In the other camp, there are also many people who are quite happy if the station wins its case and is able to take the porn route.

Looking to the heavens, the SKA Organisation Project Office has issued its pre-construction phase request for proposals. The RFP is an invitation for international consortia to bid for work packages to design the various components of the SKA, such as antennas, receivers, signal processing systems, data transport and high performance computers.

Back on earth, if you're content, we're content here at Bizcommunity. We have been ahead of the curve for years in providing an unmatched vehicle for all of you to get your message out there.

Finally, on the petrol-head front, our glamorous motoring editor Henrie Geyser reckons the new Isuzu KB range scores in the glamour stakes and for those out there who love two wheels rather than four, we are now covering motorcycling news... and to start you off is the new KTM 1190 Adventure range. If this doesn't make your eyes water, then...

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

All eyes turn to Durban on setting up of Brics bank
CAPE TOWN: As South Africa wraps up preparations towards hosting the fifth Brics summit, the world will be keenly watching to see whether the leaders of Brazil, Russia, India, China and South Africa can conclude negotiations on setting up a Brics development bank. Read more >>

If you're content, we're content
[Issued by Bizcommunity] "Content" is currently on everybody's lips, with everyone from the existing media to brand owners and individuals being encouraged to become content providers. Bizcommunity has been ahead of the content curve for over a decade. Read more >>  visit press office >>


Accounting & Auditing

Patel asks business, labour to work together
[Paul Vecchiatto] The expansion of SA's industrial base requires closer working relations between business and labour‚ says Economic Development Minister Ebrahim Patel. Read more >>


Finance, Accounting & Banking

Retail trade sales higher
Retail trade sales measured in constant (2012) prices increased 1.9% year-on-year (y/y) in January from a downwardly revised 2.2% (2.3%) y/y increase in December‚ figures from Statistics SA showed on Wednesday (13 March). Read more >>

MediaShop's first forum unpacks budget
The MediaShop's first forum for 2013 unpacked the budget under the guidance of radio personality Bruce Whitfield from Radio 702. Read more >>


Financial Services

Wholesale trade sales up 6,8%
Real wholesale trade sales at constant (2000) prices‚ increased by 6.8% year-on-year (y/y) in January after rising 3.4% y/y in December 2012‚ Statisitics South Africa said Thursday (14 March). Read more >>


Investment Management

SA workers getting more money
South African workers will fare much better than global counterparts regarding pay increases over the coming twelve months‚ a Grant Thornton international business report showed on Monday (18 March). Read more >>

Bell Equipment's profits down
In what it says proved to be something of a mixed period for the group‚ heavy equipment manufacturer Bell Equipment saw diluted headline earnings per share fall from 285 cents to 232 cents per share for the year to December. Read more >>

Metair sees strong sales growth
[Alistair Anderson] Automotive parts manufacturer and retailer Metair on Monday (18 March) reported a 19% increase in its headline earnings per share to R3.10 for the year to December‚ after strong vehicle sales growth. Read more >>

Buco gives Iliad sales of R4,5 bn
Reflecting a continued focus on managing margins and expenses‚ building materials supplier Iliad has recorded growth of 387.4% in headline earnings per share, climbing from 9.5 cents to 46.3 cents for the year to December. Read more >>

Tiger buys more of Oceana
Food conglomerate Tiger Brands has snagged another 4.5% of fishing group Oceana in a deal that surprised market watchers. Read more >>

Bowler Metcalf shows modest growth
[Alistair Anderson] South African plastic packaging manufacturer and beverage bottler Bowler Metcalf said on Wednesday (13 March) its performance in the second half of 2012 was a modest improvement over the same period last year. Read more >>

York Timber benefits from higher prices
York Timber Holdings reported headline earnings per share of 13c for the six months to December‚ unchanged from the previous period. Read more >>

Growthpoint still wants Fountainhead
[Nick Hedley] Growthpoint Properties said on Tuesday (12 March) it remained committed to buying Fountainhead Property Trust's R10.3bn portfolio‚ and claimed that Redefine Properties' assertion that its bid would fail was "without merit". Read more >>

Vukile buys five of Encha's buildings
[Nick Hedley] Listed property loan stock company Vukile Property Fund said on Tuesday (12 March) its agreement with Encha Properties is "one of the most significant Black Economic Empowerment (BEE) initiatives to date". Read more >>

P&G commits R1,6bn for new factory
[Zeenat Moorad] Procter & Gamble (P&G) is to invest around R1,6bn in SA by building a multi-category manufacturing plant for both the local and export markets. Read more >>

Clover hurt by labour and fuel costs
[Zeenat Moorad] Hit by high input costs as it positions itself for future growth‚ SA's biggest dairy producer‚ Clover on Tuesday (12 March) reported a 33.5% decline in its first half profits. Read more >>


Taxation

Five steps to mitigate tax risk
[Issued by The South African Institute of Tax Practitioners] Taxpayers are constantly exposed to non-compliance penalties and the threat of sanctions. Stiaan Klue, Chief Executive of the South African Institute of Tax Practitioners (SAIT) looks at five essential steps in managing your tax risk profile. Read more >>


International
Airbus gets Lion's share
PARIS, FRANCE: European aerospace giant Airbus signed an agreement that will see Indonesia's Lion Air ordering more than 200 A320 medium-haul jets, business daily Les Echos reported. Read more >>

Prudential's man says profits up 55%
LONDON, UK: British insurance giant Prudential said on Wednesday (13 March) that net profits surged 55% last year, as it was lifted by solid growth in key market Asia. Read more >>

Cathay Pacific's awful profit slump
HONG KONG, CHINA: Cathay Pacific said on Wednesday (13 March) that its 2012 net profit plunged more than 83%, as the airline was buffeted by persistently high fuel prices and the eurozone financial crisis. Read more >>

1,7m applicants for 1,500 jobs
MUMBAI, INDIA: India's largest state-run bank has received 1.7m applications for just 1,500 entry-level clerical jobs and has promised to examine all of them, a report said on Tuesday (12 March). Read more >>

Audi reports record sales for 2012
FRANKFURT, GERMANY: Vehicle manufacturer Audi, the top-of-the-range subsidiary of Volkswagen, reported record sales in 2012 and hopes to achieve further growth this year. Read more >>

More International...


Government
Taxi, hospitality sectors wage hearings continue
The Department of Labour (DoL) is today pushing ahead with further public hearings and on-site visits as part of reviewing the minimum wages and employment conditions in the taxi and hospitality sectors. Read more >>

Comment sought on Credit Ratings Service Act
The Registrar of Credit Rating Agencies has released the Draft Rules of the Credit Ratings Services Act for public comment. Read more >>

Development bank gets Brics' backing
Experts from the Brics group of countries have recommended that a new development bank and rating agency be created according to Georgy Toloraya, executive director of Russia's National Committee for Brics studies. Read more >>

Gigaba wants stronger African ties
South Africa needs to renew its focus on African economies in order to grow its export destinations, Public Enterprises Minister Malusi Gigaba said on Thursday (14 March). Read more >>

Debt levels could make SA vulnerable
The country's levels of debt make it vulnerable to economic shocks although in the past the country has been able to reduce its public debt, says Finance Minister Pravin Gordhan. Read more >>

Clean audits - government doesn't get it
[Karl Gernetzky] The ability of the government to spend and keep track of finances is stagnating‚ with less than a quarter of government entities receiving clean audits last year‚ auditor-general Terence Nombembe said on Tuesday (12 March) Read more >>

Ministers note AG report
Minister in the Presidency for Performance Monitoring and Evaluation (DPME), Collins Chabane and Public Service and Administration Minister Lindiwe Sisulu have noted the release of the Auditor General's report. Read more >>

Clean audits a rarity
Only 117 out of a total 536 audited government entities received a clean audit, showing slow progress towards a total clean administration. However, the office of the Auditor General is apparently pleased at measures taken by government to bolster public service governance. Read more >>

More Government news...


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2013 Biz Trends Report


93 pages
49 contributors
41 contributions

New people on biz

Dumisani Paidamwoyo Mzite
Technical & Sales Manager at ACE Contracting
Nthabi Khaile
Distribution Manager at Sanlam
ANNETTE HALLEY
Administration Controller at Enertec Distributors
Les Bridges
Owner / Manager at Blue Ocean Accounting
Chandler Ramphisa
Financial Management N6 Graduate at Ekurhuleni West College

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