| 8 Oct 2013
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Billboards vs ANC: billboards win Transport minister Dipuo Peters says the billboards with the message "E-tolls. Proudly brought to you by the ANC." is the work of cowards. The DA has admitted to being the naughty ones who erected them, and its Gauteng premier candidate Mmusi Maimane points out that, "E-tolls were conceived under the watch of an ANC minister, supported by an ANC executive in Gauteng, passed into law by an ANC majority Parliament and signed, sealed and delivered by an ANC president." Quite so, and none of which the ANC denies - so what's the problem? What happens when the "bluff" is no longer a bluff? Chris Moerdyk looks at why Numsa is calling BMW's bluff, and wonders what might happen when car makers finally decide: enough! Also see Government to talk to car makers: Gordhan. Some might reasonably ask: why? What can he say to them that is likely to achieve anything right now. Let's face it, with an election looming the government is not going to do anything to upset the workers and Cosatu - and that might tend to set the tone of any "talks". Nonkululeko Gobodo says there is more to transformation than ticking boxes, and suggests the private sector is lagging, and on a happy note, there's good news for mobile users - and that means pretty much all of us - ICASA has released its draft 'call termination' regulations which aim to see the costs we mobile users have suffered for ages being somewhat reduced. Rod Baker, Content Director
Comment online in our ed's column archive. Go mobile with apps and m.bizcommunity.com. Engage with us on Twitter, Facebook, LinkedIn and Google+. Subscribe to YouTube and via RSS. Send all your industry-specific news and event invitations to financenews@bizcommunity.com, exclusive opinion pieces to contributors-finance@bizcommunity.com and international news to internationalnews@bizcommunity.com. Read "How to contribute to Biz, from op-ed pieces to news".Weekly top stories | [Anton Harber] Who still takes three pages in the newspaper for their financial statements? The newspaper does, of course - and sometimes the statements contain nuggets of more interesting information - not strictly financial. Read more >> |
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Other than your employees and your company's unique product or service offering, your database is arguably the most valuable asset that your company possesses. Read more >>
 | If anyone were dropped off blindfolded at OUTsurance's offices, they could mistake them for a campus of the local university: it has 2,200 people, mostly under 25, playing action cricket and volleyball or else staring studiously at their PCs. Read more >> |
 | Financial chaos continues to haunt the public works department and the entity responsible for managing its property portfolio. Read more >> |
 | [Issued by Sage Pastel] My Business Online is an online accounting package that was rated "Much easier to use than we thought it would be" by a class of inexperienced St Stithian's schoolboys. Read more >> visit press office >> |
When dealing with the transfer of deceased estates there is often a variety of hurdles and taxes that need to be taken into account and avoided, if possible, said Bill Rawson, chairman of the Rawson Property Group. Property owners, especially those who own multiple properties, need to consider the best ways to minimise tax and avoid difficulties when passing on their assets after their death. Read more >>
With a wide range of devices available, customers are used to accessing banking services anywhere, fast, conveniently and most importantly safely, without having to worry about additional risks. Read more >>
 | The significant shift in service delivery channels used by banks and their focus on multi-channel technology integration has led to a rise of a lucrative industry for financial fraudsters, which is why TCI has found the need to address these issues at the Banking Channel Fraud Conference taking place on 16 and 17 October 2013 at Focus Rooms, Sunninghill, Johannesburg. Read more >> |
When applying for a home loan, one of your most important considerations should be securing the lowest interest rate possible. And when the home loan is granted, you should do everything you can to reduce the term and the interest that you pay. These will save you a great deal of money in the long term. Read more >>
 | SAN FRANCISCO, USA: Software company Adobe Systems on Thursday (3 October) warned that hackers breached its defences and stole source code along with credit card numbers and other information relating to nearly three million customers. Read more >> |
The National Eisteddfod Academy (NEA) released statistics at a recent board meeting that clearly indicated and emphasised the impact that funding bodies like the National Lottery Distribution Trust Fund (NLDTF) have on organisations like the NEA. Read more >>
 | First National Bank (FNB) has urged South Africans to manage their credit-based spending more sensibly. This follows after figures released by the National Credit Regulator showed a modest increase of 0.6% in the number of customers who were not meeting their monthly loan repayments, and a small decline in credit advanced for unsecured loans and credit card facilities. Read more >> |
 | [Joan Muller] The sell-off in property stocks over the past four months has made it less attractive for unlisted real estate companies and developers to bring their shopping centres, offices and warehouses to the JSE. Since May prices have dropped around 13% and yields have risen from an average 6,2% to 7%. Read more >> |
 | Improved consumer awareness and education around responsible borrowing is key to reducing the number of debt impaired credit-active consumers in South Africa. Read more >> |
 | The retirement funds industry will endure a poor reputation for so long as there are still life policies around disguised as retirement annuities, according to the Pension Funds Adjudicator. Read more >> |
[Trinette Hartley] You may have complied with all the requirements of creating a valid trust, but how effective, practical and up-to-date is the trust deed? Read more >>
 | [Phakamisa Ndzamela] Professional services firm EY has said that one of the risks faced by SA insurers expanding to the rest of the continent was a lack of detailed knowledge about the insurance environment in various African countries. Read more >> |
 | Media stories about high profile jet-setting hedge fund managers in the UK, US and Russia have given this investment instrument a slightly bad rap. In truth, if managed correctly, a hedge fund is an effective and hardworking investment instrument which adds greatly to the diversity of a portfolio. Read more >> |
 | Safe-haven investments do not come much safer than food producers. This has made big-name companies such as AVI and Tiger Brands market favourites and driven up the JSE food producers sector rating to a level last seen 19 years ago. Read more >> |
 | [Andries Mahlangu] The rand was stronger on Friday (4 October) amid directionless trade as the US budget stalemate continued to undermine the dollar. Read more >> |
 | [Jacqueline Mackenzie] The rand bears were dominating on Wednesday (2 October) with the local unit around 3c weaker against the US dollar in early trade. Read more >> |
 | The seasonally adjusted Kagiso purchasing managers index (PMI) fell steeply in September‚ by 7.4 index points to a worse than expected 49.1‚ data released on Tuesday (1 Ocotober) showed. Read more >> |
 | Retirement fund investors need simple, cost-effective investment solutions rather than more complex, expensive options such as hedge funds and other alternative products. According to Steven Nathan, CEO of 10X Investments, recent reports that the local hedge fund industry is attracting growing interest from pension funds should be viewed with serious concern. Read more >> |
 | [Fifi Peters] The rand remained flat on Tuesday (1 October)‚ but performing worse than most of its emerging-market peers‚ due to the weaker South African trade balance and disappointing manufacturing numbers. Read more >> |
 | South Africa's car manufacturers have made a new wage offer in a bid to end a strike that has crippled production for almost seven weeks, the industry said on Wednesday (2 October). Read more >> |
 | Vodacom and Neotel have announced that they have entered into exclusive discussions regarding a potential acquisition of 100% of the shares of Neotel by Vodacom SA. Read more >> |
 | BERLIN, GERMANY: German engineering and technology company Siemens said it plans to cut 15,000 jobs worldwide by late next year as part of a cost-cutting drive. At least 5,000 jobs will be lost in Germany itself. Read more >> |
 | FRANKFURT, GERMANY: German manufacturer Volkswagen plans to withdraw its shares from trading on the London Stock Exchange later this month. Read more >> |
 | Steel distributor Alert Steel Holdings on Monday (30 September) reported a diluted headline loss per share (HLPS) of 132.9c for the year to June compared with the previous year's loss of 432c a share. Read more >> |
 | The annual Africa Investor Index Series Awards, which took place at the New York Stock Exchange on 21 September, are designed to recognise Africa's best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies and fund managers. Read more >> |
 | TOKYO, JAPAN: Japanese camera company Olympus agreed to pay US$2.6m to settle a US investor claim stemming from a huge accounting scandal that hammered its shares. Read more >> |
 | The billboards erected along Johannesburg's highways next to e-toll gantries are the work of cowards, Transport Minister Dipuo Peters said on Monday. Read more >> |
 | Retired Gauteng Judge President Bernard Ngoepe has been appointed as South Africa's first Tax Ombud. The Tax Ombud will operate in concurrence with other mechanisms which the tax payer has at their disposal, and will provide a cost effective means to handle administrative challenges that fall within the Ombud's jurisdiction. Read more >> |
 | [Zeenat Moorad] South Africa needs a fresh economic philosophy to ignite its true growth potential‚ Woolworths chairman Simon Susman says in the retailer's annual report‚ released on Wednesday, 2 October. Read more >> |
 | [Hopewell Radebe] The National Treasury had directly negotiated and assessed potential costs for the Cabinet-approved arms deal‚ the Seriti Commission heard on Monday (30 September) Read more >> |
 | Transport Minister Dipuo Peters has called on Gauteng road users to register for the e-tolling system and get their e-tags, ahead of the implementation of the Gauteng Freeway Improvement Programme (GFIP), which could be less than a month away. Read more >> |
 | Tax is regarded as a significant threat for doing business in Africa‚ according to a PwC survey released on Tuesday (1 October). Read more >> |
 | PARIS, FRANCE: French telecommunications-equipment maker Alcatel-Lucent will cut 15,000 jobs worldwide, but create 5,000 other posts, financial newspaper Les Echos said on the company's website on Monday (7 October). Read more >> |
WASHINGTON, USA: Twitter revealed its highly anticipated stock offering with the hugely popular messaging platform seeking to raise up to US$1bn on Wall Street. Read more >>
 | NEW YORK CITY, USA: The private equity firm Cerberus Capital Management is interested in a bid for troubled Canadian smartphone manufacturer BlackBerry, a source familiar with the matter said. Read more >> |
 | NEW YORK CITY, USA: US computer company Dell says it received regulatory clearance for a buy-out led by company founder Michael Dell. The deal is expected to close by the end of October. Read more >> |
 | THE HAGUE, THE NETHERLANDS: Anglo-Dutch food and cosmetics company Unilever, seen as a bellwether for global consumer spending, warned on Tuesday (1 October) of slowdown in sales growth brought on by weakened demand in emerging markets. Read more >> |
 | BERLIN, GERMANY: German high-end television manufacturer Loewe said on Tuesday (1 October) it had filed for bankruptcy but also voiced hope that an investor could be found to rescue the 90-year-old company. Read more >> |
 | PARIS, FRANCE: French lawmakers are set to move against the likes of Amazon with a bill aimed at supporting small bookstores struggling in the face of giant online retailers, members of parliament said. Read more >> |
More International
 | The Department of Trade and Industry (DTI) has decided to stop the existing Manufacturing Incentive Programme (MIP) for start-up manufacturing businesses and replace it with a vehicle that pays more money, more quickly, with fewer conditions attached. Read more >> |
 | Arms procurement parastatal Armscor told the Seriti Commission of Inquiry it was not involved in procurement of equipment bought in terms of the arms deal, SABC radio reported. Read more >> |
 | Johannesburg's's billing systems website still isn't "up" more than a month after it was hacked, releasing personal information relating to hundreds of thousands of ratepayers. Residents are entitled to ask what is - or isn't - being done to fix things. Read more >> |
More Government news
E at UP Trust is looking for a bookkeeper with an accounting qualification, three years experience and stable work record at our offices in Hatfield Pretoria. Read more >>
The most sought after qualification in marketing in South Africa. Companies like MTN, Nedbank, Old Mutual, FNB and Liberty Life have sent their staff on our course. Read more >>The most sought after qualification in marketing in South Africa. Companies like MTN, Nedbank, Old Mutual, FNB and Liberty Life have sent their staff on our course. Read more >>  SAICA Tax ConferenceSouth African Institute of Chartered Accountants - 8 Oct 2013 to 9 Oct 2013 Johannesburg
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