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Finance & Insurance

Weekly top stories


FSB head speaks out on corruption
PRETORIA: The head of the Financial Services Board (FSB), Advocate Dube Tshidi, says they will not tolerate any form of corruption. Read more >>


Finance
SAICA saddened by death of Professor Russel Botman
The South African Institute of Chartered Accountants (SAICA) is saddened by the untimely passing of Professor Russel Botman, the rector and vice-chancellor of the University of Stellenbosch, stating that the chartered accountancy profession and South Africa as a nation, has lost an illustrious leader and transformation icon. Read more >>

Economic forecasts integral to budgeting
JOHANNESBURG: Finance Minister Nhlanhla Nene says the credibility of economic forecasts is very important as the National Treasury considers them during the budgeting process. Read more >>

Joint effort to boost international business in Durban
The Durban Chamber of Commerce & Industry's (DCCI's) CEO, Andrew Layman, and Garlicke & Bousfield's CEO, Brian Jennings, signed a Memorandum of Understanding to facilitate joint efforts to encourage international business activity in Durban recently. Read more >>

Actuarial & Insurance
Treasury, FSB examines credit insurance sector

Phakamisa Ndzamela

The Treasury and the Financial Services Board (FSB) have called for more responsible and transparent pricing on consumer credit insurance, and may introduce new regulations for retailers offering credit or businesses providing unsecured loans. Read more >>

MMI now focusing on client needs

Gillian Jones

Insurance company MMI Holdings had overhauled its business structure to help change it from a product-driven organisation to one more responsive to client needs, Chief Executive Nicolaas Kruger said. Read more >>

Banking
Bitcoin may rewrite banking practice, transform political paradigms
Over the past five years, Bitcoin has grown from an experiment in digital cash to a vibrant, global economy supporting multimillion dollar companies with a market cap of $10bn. Read more >>

Mercantile Bank sets R1bn target for rental finance book
Mercantile Bank has announced plans to expand its rental finance business to R1bn in the next three years, following the acquisition of a 75% stake in Custom Capital in 2011, which will now be a subsidiary of the bank known as Mercantile Rental Finance. Read more >>

Makate loses 'Please Call Me' case against Vodacom

Ernest Mabuza

Former Vodacom Chief Executive Alan Knott-Craig's claim to have invented the "Please Call Me" product while chatting to a colleague at work was deemed implausible... Read more >>

An estimated 30-40% of retail spending is unbanked grey money

Issued by Foshizi

Banks and retailers may be ignoring the informal sector to their detriment. This is according to Lebo Motshegoa, MD of Foshizi... Read more >>

Financial Services
IRFA conference will focus on implementation of retirement reform
The annual conference of the Institute of Retirement Funds Africa (IRFA) will this year be held from 17-19 August at the Durban International Convention Centre. Read more >>

'Timing is everything' in saving a business
Whatever the nature of its business, or the sector in which it operates, when it comes to saving a company from financial collapse, timing is everything. Read more >>

Markets & Investment
Bayelsa investment forum aims to attract international interest
The Bayelsa State Government of Nigeria is ready to host its maiden investment and economic forum from 16-18 July with the theme 'Unlocking Bayelsa State's Economic Potentials'. Read more >>

Aveng expects drop in earnings‚ in subdued sector

Nick Hedley

Aveng fsays it expects headline earnings per share and adjusted earnings per share - excluding the impairment of goodwill - for the year to June to be about 10% lower than last year. Read more >>

Grohe buys 51% of Dawn for R880m

Mark Allix

Grohe‚ said to be Europe's largest single-brand manufacturer and supplier of sanitary fittings‚ will buy 51% of JSE-listed building materials and fixtures group Distribution and Warehousing Network's (Dawn) Watertech subsidiary for R880m in cash. Read more >>

Understanding sources of investment return using heat maps

Andrew Newell

Most investors want not only high equity returns, but returns that are even better than the market itself. This points them to the practice of active management. It also means that investors have to have a better understanding of the various sources of returns in the market. Read more >>

Stock markets at record highs while growth is down

Luigi Marinus

The South African economy is under strain: After growing by just 1.9% in 2013, it proceeded to shrink in the first quarter of 2014. Expectations are that the economy will grow by only 2% this year - and that's if we're lucky. Read more >>

SA's competitiveness eroded by rising labour costs
At present, the South African investor outlook is fraught with uncertainty. Read more >>

New vehicle sales drop to 52‚837 units in June
New vehicle sales slipped for the sixth consecutive month in June as the tough economic environment cut into consumer spending. Read more >>

Bayport raises ZMK171m with Barclays Africa as lead arranger
In the single largest bond issue in Zambia issued by a corporate entity, Bayport Financial Services in Zambia has successfully raised ZMK171m in floating rate notes from the domestic capital markets. Read more >>

Davies approves revised guidelines for AIS
PRETORIA: Trade and Industry Minister, Rob Davies, has approved the newly revised guidelines for the Automotive Investment Scheme (AIS) as well as the People-carrier Automotive Investment Scheme (P-AIS). Read more >>

[Money Matters] Investing in property... or equities?

Graham Turnbull

This is the third in a series of Q&As aimed at providing guidance to you in your personal finance issues. Read more >>

Taxation & Regulation
Gautrain is milking taxpayers of millions
It is costing taxpayers an average of R84m a month to keep the Gautrain running. Read more >>

Tax season off to good start
PRETORIA: The South African Revenue Service (Sars) has so far received more than 50,000 returns, as tax season officially got off the ground on Tuesday, 1 July 2014. Read more >>


International

Midas Awards for The World's Best Financial Advertising: 2014 call for entries; unveils Midas Brand Report
NEW YORK CITY, US: The 2014 Midas Awards honouring the World's Best Financial Advertising is now open for entries. Read more >>

Twitter buys mobile advertising firm Tap Commerce
SAN FRANCISCO, USA: Twitter announced it will buy mobile advertising firm Tap Commerce to bolster money-making tools at the popular one-to-many messaging service. Read more >>


More International


Government

SARS wants to catch tax dodgers
Finance Minister Nhlanhla Nene said the South African Revenue Service (SARS) is committed to closing the net on tax dodgers, but labour unrest and slow economic growth were obstacles. Read more >>


More Government news


Jobs offered

Accountant - Port Elizabeth
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New events to diarise

3rd Annual Gas Asia Summit
dmg :: events (UK) ltd - 29 Oct 2014 to 31 Oct 2014 Singapore


Upcoming events

BankingTech Forum Africa
OpenRoom Events Ltd - 8 Jul 2014 to 9 Jul 2014 Johannesburg

Global Transaction Banking Conference 2014
Trade Conferences International - 9 Jul 2014 to 10 Jul 2014 Johannesburg

Global Transaction Banking Conference 2014
Trade Conferences International - 9 Jul 2014 to 10 Jul 2014 Johannesburg

Introduction to investment banking
Paton Training - 10 Jul 2014 to 11 Jul 2014 Johannesburg

Financial modelling fundamentals
Paton training - 14 Jul 2014 to 16 Jul 2014 Johannesburg


All industry news


Marketing & Media
    Top 10 digital campaigns of 2014: Jan-Jun - Hando Sinisalu and Ann Kruuk
    17 things that will make your brand loved, now! - Dawn Rowlands
    Memes in modern branding - Estee Cockcroft

    Medical
      Royal Philips launches EmboGuide
      Sugar-coated cells are deadly for cancer patients - Melissa Osgood
      Tackling childhood obesity, Kauai launches schools' franchise

      Retail
        Keeping POS going in Africa through the cloud - Alan Sher
        Semi-finalists of The Bollinger Exceptional Wine Service Award announced

        Government
          Nxasana was informed claims Presidency
          Tabs kept on school textbook deliveries - Bekezela Phakathi

          Mining
            Marikana Commission given more time
            Bakubung mine uses IsoMetrix health and safety solutions

            GreenBiz
              Significant reduction in energy consumption at Vineyard Hotel
              Unilever, Wildlands promote green-preneurship
              Invitation to nominate candidates for Kudu Awards

              HR & Recruitment
                Growth in employment due to increase in temporary contracts
                Minister announces increase in annual earnings threshold
                B-BBEE has become a complex set of rules and calculations - Brigitte Brun

                Legal
                  Zuma approves amended land Acts
                  Temporary VAT relief for property developers - Graeme Palmer
                  Patent evergreening in the pharmaceutical industry - Ilne Grobler

                  Manufacturing
                    Jasco demonstrates the power of Energy Optimisation
                    CSR denies Transnet contract hampered by supplier shortage - Linda Ensor
                    NUMSA strike condemned by plastics industry

                    Property
                      Schools going up in Bardale Village
                      SA property market continues to grow
                      Trending: The zero deposit lease

                      Education
                        Mobile phones help township residents, immigrants have a sense of belonging
                        Agile experts to speak at Wits' Fak'ugesi Festival
                        NSTF-BHP Billiton Awards winners announced

                        Tourism
                          Hilton Worldwide opens DoubleTree by Hilton Zanzibar
                          e-Tourism Africa Summits for Cape Town, Joburg
                          Joburg Airport lounge wins luxury award

                          ICT
                            Local reseller scoops Ruckus Wireless award
                            World's first tweeting couch laid out for football fans
                            Software and accessory provider launches in SA

                            Logistics
                              SAA to comply with new travel regulations
                              Commuters catching Uber cabs - Nick Hedley
                              Kenya Airways executive wins Lifetime Achievement Award

                              Lifestyle & Entertainment
                                Marianne Fassler joins line-up for Fashion Week Cape Town 2014
                                James Blunt to bring Moon Landing tour to SA
                                Stars of the Ballet Russia perform classical ballet highlights
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