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Finance & Insurance

Weekly top stories


Telkom says MTN, Vodacom working against SA's interests
[Carol Paton] Telkom's chief executive Sipho Maseko accused MTN SA and Vodacom of acting against the best interests of the country by standing in the way of lower mobile termination rates while earning huge profits. Read more >>


Actuarial & Insurance
Old Mutual sees strong customer growth

Gillian Jones

London- and JSE-listed insurer Old Mutual grew the number of customers in its operations in the rest of Africa by 590,000 in 2013 as it continues to focus on emerging markets to achieve growth. Read more >>

Banking
SA takes second place on African Transformation Index
South Africa has come second after Mauritius on the African Transformation Index released on Monday (3 March 2014)‚ indicating its economic transformation is better than most other African countries. Read more >>

Education & Training
UNITAR launches 2014 online courses on Finance, Trade, and Intellectual Property
As the demand from sub-Saharan African countries for online training steadily grows, the number of online courses is said to have increased by 390% over the past five years. Read more >>

Financial Services
List management strategies maximise debt collection
Reuters has reported that household debt grew at its fastest pace since early 2008 in the fourth quarter of 2012, a possible sign that the painful process of paring back borrowing in the aftermath of the financial crisis may have run its course. Read more >>

Retirement: still a valid concept or heading for extinction?

Patrick Barker

In most countries, the concept of retirement is relatively recent, having been introduced during the late 19th and early 20th centuries. Until then, short life expectancy and the lack of financial provisions (pensions) meant that most workers continued to work until death. Germany was the first country to introduce an old-age social insurance program, in 1889, and thus the notion of retirement. Read more >>

Markets & Investment
Emerging-market operations provide buffer for Mondi

Mark Allix

Mondi reported a record financial performance in the year to December‚ with underlying operating profit rising 22% and underlying earnings rising by 37% in the period. Read more >>

SA's vehicle sales down 3.1% y/y
South African vehicle sales declined 3.1% to 51‚814 units in February from the similar period a year earlier‚ according to the latest figures from the National Automobile Association of SA (Naamsa)‚ which warned of tough times for the domestic market this year. Read more >>

Astral Foods achieves big jump off low base

Nick Hedley

Astral Foods said on Monday (3 March) it expects a 215% jump in earnings for its six months ending March‚ though the poultry producer stressed that this comes off a low base. Read more >>

Kagiso PMI up from 49.9 to 51.7
Activity in the manufacturing sector picked up in February‚ according to the latest Kagiso purchasing managers index (PMI). Activity was boosted mainly by an improvement in the new sales orders index. Read more >>

Basil Read's two projects worth more than R400m

Mark Allix

Construction‚ mining and engineering group Basil Read says it has secured two projects together worth more than R400m. Read more >>

BAT manages 4% increase in revenue

Marc Hasenfuss

Cigarette brands conglomerate British American Tobacco (BAT) showed its pricing power prowess‚ managing a 4% hike in revenue to £15.3bn (around R273bn) in the year to end December despite a decline in volumes. Read more >>

Manufacturing activity rebound lifts GDP

Ntsakisi Maswanganyi

Economic growth expanded more than expected in the fourth quarter of last year supported by a resumption in manufacturing sector activity following strikes in the third quarter. Moderate growth in all other sectors except electricity‚ gas and water contributed to the rise. Read more >>

SA's car industry ambitions may crash

David Furlonger

The South African motor industry's vision of building 1.2m vehicles a year by 2020 is almost certainly unachievable‚ Rick Hanna‚ the head of global consultancy PwC's automotive division‚ said. Read more >>

Taxation & Regulation
Vodacom to take Icasa to court

Thabiso Mochiko

Vodacom is taking industry regulator the Independent Communications Authority of South Africa (Icasa) to court in a bid to stop it from implementing new mobile termination rates. Read more >>

Naspers mum on restructuring rumours as Bekker departs
Analysts want more clarity from Naspers on the reasons for the departure of CEO Koos Bekker on April 1 amid rumours the company is set to be restructured. Read more >>

Taxes are certain - What can an entrepreneur do?

Peter Meredith, Issued by Meredith Harington

While well ahead of Africa, and placed competitively worldwide, most South African entrepreneurs would consider they pay too much tax. Read more >>


International

Brutal winter weather freezes US car sales
CHICAGO, USA: Brutal winter weather chilled US car sales in February, with General Motors and Ford reporting losses even as rival Chrysler extended a winning streak. Read more >>

'World's first' Bitcoin shop opens in Hong Kong
HONG KONG: A shop selling the virtual Bitcoin currency opened in Hong Kong amid fresh concerns grew in Asia over the currency's viability and security. Read more >>

Japan probing bitcoin exchange after huge reported theft
TOKYO, JAPAN: Japanese authorities were on Wednesday, 26 February, probing the troubled MtGox bitcoin exchange after claims of a multi-million dollar theft from its digital vaults, as US prosecutors reportedly served a subpoena on the company. Read more >>

Nokia, BlackBerry, Motorola search for lost glory
BARCELONA, SPAIN: Once the mobile world's pioneers, Nokia, Motorola and BlackBerry are now the industry's sorry laggards, searching for lost glory. Read more >>

Four mistakes to avoid when buying property overseas

Einat Mazafi

There comes a point when many of those who love to travel - especially those who travel frequently to the same beloved spot - begin to daydream about carving out a little piece of paradise for their very own. Read more >>

Bitcoin website vanishes amid huge theft claim
TOKYO, JAPAN: The website of Tokyo-based bitcoin exchange MtGox went down amid reports of a theft worth hundreds of millions of dollars of the virtual currency. The reports have dealt a blow to the currency's credibility. Read more >>


More International


Government

Amnesty forces update of models for credit risk

Amanda Visser

Credit providers will from June this year have to change risk models as the credit amnesty by government will mean that credit histories have been wiped out, say lawyers. Read more >>

ICT policy must include all South Africans
Government needs to review its policies and legislation on Information Communications Technology (ICT) to ensure that all South Africans have universal affordability and access to communications services. Read more >>

ANC bigwigs clash over varsity fees

Prega Govender

Blade Nzimande and Cyril Ramaphosa are going head to head on university fees. Read more >>

More must be done for black participation in the economy
With South Africa celebrating 20 years of freedom this year, more has to be done to ensure the entry of black people into big business, says President Jacob Zuma. Read more >>

New scholarship fund to start in March
The Solomon Mahlangu Scholarship Fund (SMSF) with initial capital of R10m will be launched on 14 March, says President Jacob Zuma. Read more >>

Eliminating red tape to promote local, foreign investment
Government is working towards cutting more red tape to allow small and established businesses to increase their competitiveness and to promote local and foreign investment. Read more >>

Budget anchored on economic growth
Despite the sluggish local economic growth brought about by the 2008 global recession, Finance Minister Pravin Gordhan has not gone back on his 2013 growth projections. Read more >>

Overview of Gordhan's budget
Finance Minister Pravin Gordhan has announced a large expenditure plan that will be anchored around the National Development Plan (NDP). Read more >>

Fund boosts plan to grow industrialists
Plans to use private and public sector funds to create black industrialists gained momentum with the launch last week of an initiative to support small enterprises in the manufacturing sector. Read more >>


More Government news


Jobs offered

Compliance and Internal Audit Manager - Western Cape
Oxford University Press, an equal opportunity employer, seeks a talented individual for appointment as a compliance and internal audit manager, based in the Cape Town area. Read more >>

Associate Professor/Senior Lecturer - Development Finance - Western Cape
The Graduate School of Business (Bellville Park Campus) of Stellenbosch University invites applications for the position of associate professor/senior lecturer: development finance. Read more >>

Developer - Sunninghill
Read more >>




New events to diarise

3rd Annual East Africa Banking & ICT Summit 2014
Cyber Security Africa - 25 Apr 2014 Kampala

Prep International Certified Fraud
UCT Professional Development Project - 5 May 2014 to 31 Oct 2014 Cape Town

Short Course in Introduction to Basic Bookkeeping
CE@UP - 2 Aug 2014 to 27 Sep 2014 Pretoria

Chinese Law and Investments in Africa
UCT Professional Development Project - 10 Sep 2014 to 12 Sep 2014 Cape Town


Upcoming events

Next Generation Payments Conference 2014
Trade Conferences International - 5 Mar 2014 to 7 Mar 2014 Johannesburg

Sage VIP Annual Payroll and Tax Seminar 2014
Sage VIP - 5 Mar 2014 to 25 Mar 2014 Krugersdorp,Pretoria,Umhlanga,Cape Town,Port Elizabeth,Vanderbijlpark,Bloemfontein,Johannesburg,Sandton

International Womens Day - "Inspiring Change"
Cape Chamber of Commerce and Industry - 7 Mar 2014 Cape Town


All industry news


Marketing & Media
    A media guide to the Oscar Pistorius trial - Shamin Chibba
    Oscar trial - Media circus or fair reportage? - Marion Scher
    Sleazeball marketing... or not? - Janine Lazarus
    Attack the Goliath, be the David of PR agencies - Zimaseka Njomi

    Medical
      New research on HIV-neutralising antibodies
      Simple solutions to managing health information

      Retail
        Budget favours SMES, wine industry
        The Clothing Bank expands to Midrand
        Massmart 2013 sales rise 9.8%; all divisions perform - Zeenat Moorad

        Government
          Plan to boost SA's skills base

          Mining
            CSMI appoints new director
            WearCheck opens laboratory in Ghana

            CSI
              Kumba gives bursaries to Postmasburg learners
              Soweto school receives library from SARU
              FirstRand's CSI That Works addresses gender-based violence

              Agriculture
                Agriculture central to fighting poverty, unemployment
                ASUF conference aims to unite agriculture

                Building
                  GBCSA certifies 50th Green Star building
                  Woodglaze Trading fined R1.4m by NHBRC

                  GreenBiz
                    Conference will focus on legalising rhino horn trade
                    Measures to improve energy efficiency

                    HR & Recruitment
                      [BizCareers] Unpaid dogsbody - it's never OK! - Juliette Attwell
                      Tips for self-promotion at the workplace
                      Maximising social media channels for talent management - Yolandi Nortje

                      Legal
                        Cliffe Dekker Hofmeyr voted best in Africa
                        China's new trademark laws a boon for SA companies - Donvay Wegierski
                        Adams & Adams named best IP law firm

                        Property
                          Assest do not necessarily assist in obtaining a bond award
                          Joburg blue-chip companies relocating

                          Education
                            School for visually impaired receives specialised computer lab - Siphiwe Nyathi
                            Meet PLOXXI the cardboard computer
                            Cutting education costs without compromising quality

                            Tourism
                              Wine, dine and recline with Food Routes
                              Explorer Club launches affordable African adventures
                              "Heavyweight" brands sign for inaugural WTM Africa

                              ICT
                                MTN and Ericsson to trial new Radio Dot System
                                Lower interconnect fees benefit consumers

                                Logistics
                                  Concern grows over rising piracy off West Africa
                                  Grindrod makes progress with its logistics supply chains - Mark Allix

                                  Lifestyle & Entertainment
                                    Dreamshade to tour SA
                                    Hitting the right note - Eugene Yiga
                                    Get into the Groove with Glenfiddich

                                    Automotive
                                      BP showcases latest generation diesel fuel
                                      Technology trumps performance for many car buyers
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