2 Apr 2013

Finance & Insurance

BRICS for Africa

The fifth BRICS Summit ended recently and was marked by Jacob Zuma's call for the organisation to create a new funding model in Africa. He wants regional projects to be favoured for finance. Also at the event, Minister of Trade and Industry Rob Davies said that partnerships in manufacturing are vital for BRICS success.

On a more sombre note, if the ANC has its way, there will be no judicial oversight over eavesdropping on communications originating outside of SA. So if the General Intelligence Laws Amendment Bill becomes law, you will have to mind what you say - or write.

On a most sombre note, it has not been a good time for the SANDF, what with casualties in the Central African Republic and now the loss of five of its members who died in an anti-poaching operation in the Kruger National Park when their helicopter crashed.

You're in HR, right? Or you're in management... so how are your internal communications - are you getting the message right? Grace Harding, with 15 years of working in the field of internal communications / internal marketing, provides some views on the subject. After all, how can your staff perform properly if they are not getting the right message?

Finally, our tame motoring editor Henrie Geyser, and no slouch in the power game himself, says that the Cruze has been given an extra dollop of power - hopefully that will end any talk of the model being a tad lazy.

Rod Baker: Content Director

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

Top stories

Brics Development Bank a done deal
DURBAN: The establishment of a Brics Development Bank will go ahead, President Jacob Zuma said at the 5th Brics Summit in Durban. Read more >>


Editorial news

Finance & Insurance
Brics Development Bank a done deal
DURBAN: The establishment of a Brics Development Bank will go ahead, President Jacob Zuma said at the 5th Brics Summit in Durban. Read more >>


Accounting & Auditing
Deloitte appoints regional leader for Western Cape
CAPE TOWN: Deloitte has announced the appointment of Marius Alberts as the regional leader for the Western Cape. Alberts has been part of the Deloitte Western Cape team since 2005 and has played a key role in the professional services firm's recent growth and development in the region. Read more >>


Investment Banking
Nebank to help finance Mamba Cement
At a ceremony attended by the Chinese and South African presidents in Pretoria on Wednesday (27 March), Nedbank signed an agreement with Bank of China to provide a loan of R800m for a new cement factory in Limpopo. Read more >>


Investment Management
Fountainhead terminates Growthpoint talks
Fountainhead Property Trust has terminated its talks with Growthpoint Properties regarding the latter's proposal to acquire the trust's R10.3bn portfolio. Read more >>

KayDav makes profit of R28,5m
[Zeenat Moorad] Timber products supplier KayDav on Wednesday (27 March) said that while the industry was still battling the effects of oversupply on its selling prices‚ slow macroeconomic growth and the over indebtedness of the South African consumer‚ it was hopeful that these constraining factors will ease during 2013 and beyond. Read more >>

Acsa is back to making millions
Airports Company South Africa (ACSA) is back in the black‚ posting a R188m profit for the year ended March 2012 after a first-ever loss of R221m the previous year. Read more >>

SA leads in investor confidence
DURBAN: KwaZulu-Natal Premier, Dr Zweli Mkhize, is confident that South Africa continues to be among the preferred countries for investment. Read more >>

Interwaste gets back to making money
[Alistair Anderson] Waste management company Interwaste returned to profit in the year to December having struggled with delays in projects in the previous financial year. Read more >>

Shareholders want to see Cipla agreement
[Tamar Kahn] The supply agreement between local pharmaceutical company Cipla Medpro and Indian giant Cipla was the focus for analysts attending the company's annual results presentation on Tuesday (26 March). Analysts want to see the contract before making a decision on the offer. Read more >>

Investors get solid returns on properties
[Nick Hedley] Boosted by improved capital growth‚ SA's fixed investment property delivered a 15.2% total return last year‚ the highest return since pre-recession levels. Read more >>


Taxation
New tax legislation discussed in detail at upcoming conference
[Issued by IIR South Africa BV] IIR and the SA Institute of Tax Practitioners have partnered to organise a comprehensive conference on the Tax Administration Act, bringing together the country's leading tax experts to discus and debate the legislation in detail. Read more >>


International
Nokia sued in India for unpaid taxes
NEW DELHI, INDIA: Struggling Finnish phone company Nokia said last week the Indian tax officials had demanded the company pay taxes worth US$363m, but a court order has prevent the payment. Read more >>

Advertising earns Twitter US$583m
SAN FRANCISCO, USA: Twitter is on pace to earn more than US$500m dollars in advertising revenue this year and close to US$1bn next year, industry tracker eMarketer estimated on Wednesday (27 March). Read more >>

Hyundai to build Total's oil platform
SEOUL, SOUTH KOREA: Hyundai Heavy Industries, the world's largest shipbuilder, said on Tuesday (26 March) it had won a US$2bn tender to build two offshore platforms for French energy giant Total. Read more >>

A billion smart devices are being used
WASHINGTON, USA: Tablet computers fueled growth in 2012 in the market for "smart connected devices," which crossed the threshold of one billion units for the first time, according to a study released on Tuesday (26 March). Read more >>

More International...


Government
Zuma will be at slain soldiers' memorial
President Jacob Zuma is expected to attend a memorial service on Tuesday (2 April) for the 13 SANDF soldiers killed in the Central African Republic. Read more >>

SA to develop its aquaculture farms
[Linda Ensor] Trade and Industry Minister Rob Davies launched an aquaculture development and enhancement programme last week‚ which he hopes will boost growth in an industry that is very small in both global and continental terms. Read more >>

Zuma calls for Brics to create new funding model in Africa
Brazil, Russia, India, China and South Africa (Brics) can help forge a new funding model in Africa where regional projects spanning a number of countries are favoured for finance, says Jacob Zuma. Brics leaders had earlier pledged to boost support to the continent. Read more >>

Only 142,833 new immigrants in SA?
There were 142‚833 documented new immigrants in SA last year‚ Statistics SA's (Stats SA) said in a release on Tuesday (26 March) Read more >>

Africa needs economic integration
[Mariam Isa] African countries must integrate their economies in order to support a new wave of industrial development across the continent‚ Department of Trade and Industry Minister Rob Davies said Tuesday (26 March). Read more >>

Broadband for everyone is DoC's goal
[Bekezela Phakathi] The Department of Communications has placed broadband penetration as its top strategic priority for the next five years in a bid to achieve 100% broadband access for the population by 2020 as outlined in the National Development Plan (NDP)‚ Parliament was told on Tuesday (26 March). Read more >>

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