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Finance & Insurance

Weekly top stories


Universal language of financial reporting needed
Economic globalisation, combined with cross-border mergers and acquisitions, as well as the continued merging of capital markets have presented a compelling case for a global language of financial reporting. read more>>



Finance
IRFA announces Best Practice Awards winners
Sam Camilleri, CEO of Natal Joint Municipal Pension Funds, has picked up three awards at the Best Practice Awards ceremony which was held by the Institute of Retirement Funds Africa (IRFA) on 18 August at the International Conference Centre in Durban. read more>>
Payroll fraud costs SA more than cash-in-transit heists
Payroll fraud hurts the bottom-line at many South African businesses, with small and medium-sized enterprises (SMEs) suffering the most from this form of white-collar crime. read more>>
Actuarial & Insurance
Regulatory changes face insurance sector
Insurance companies and intermediaries are bracing themselves for rapid, far-reaching regulatory changes that are due to be introduced in 2016. read more>>
Clientele's new business up 111%

Gillian Jones

Financial services company Clientele grew its new business to what it says was a record level of R638.2m for the full year to June‚ in a tough economic climate. read more>>
Insurance companies launch development programme
Hollard Insurance Company and Telesure Investment Holdings, owner of Auto & General Insurance, 1st for Women Insurance, Budget Insurance and Dial Direct Insurance, have launched a pilot development programme for small motor body repairers (MBRs). read more>>
Digitisation should benefit everyone in insurance industry
The South African insurance sector is advised to approach the digitisation journey incrementally rather than as a radical business transformation. read more>>
Accounting & Auditing
Women to the fore!
Markets & Investment
Texton distribution up to 85.47c a share

Alistair Anderson

Texton Property Fund grew its distribution by 10.6% to 85.47c per share in the year to June. read more>>
MTN adds R54bn to market capitalisation
MTN Group has added about R54bn to its market capitalisation since its well-received interim results early this month, leaving both the top-40 and all-share indices trailing in the distance. read more>>
'Talk shops' achieve little for transformation
Social dialogue is of little value in transforming SA's economy as it only reinforces the positions adopted by the government, business and labour, a manufacturing forum in Sandton has heard. read more>>
Italtile's profits rise to R751m for the year

Zeenat Moorad

Italtile has reported a 13% rise in full-year profit, bucking the broader retail malaise, as the group's higher-income customers and integrated supply chain supported growth. read more>>
ARB's growth in subdued electrical and lighting markets

Mark Allix

ARB Holdings saw continued growth for the year to June despite subdued markets, the electrical and lighting equipment supplier said. read more>>
Transpaco continues to feel strike effects
Packaging group Transpaco said it expects the tough trading environment in the plastics and metal sector to continue "for a while" following a recent national strike. read more>>
Hospitality's distribution growth of 14.5%

Alistair Anderson

Specialised Real Estate Investment Trust (Reit) Hospitality Property Fund posted distribution growth of 14.5% for the year to June‚ blasting growth expectations by only 4%. read more>>
Blue Label Telecoms revenue up to R19.4bn
Mobile telecommunications and payments specialist Blue Label Telecoms reported increased headline earnings per share (HEPS) of 67.98 cents a share for the year to May or revenue that was up by 2% to R19.4bn. read more>>
Metair's results bolstered by Mutlu Akü deal

Mark Allix

Metair‚ a manufacturer and distributor of mainly automotive products‚ saw its Mutlu Akü vehicle and industrial battery company in Turkey significantly bolster group revenue for the six months to June. read more>>
Could Africa become like China?

Jana Marais

Africa's changing demographic over the next three-and-a-half decades could transform the continent into the next China, but only if its youthful population is educated and entrepreneurial. read more>>
Africa: Growth is on the horizon but where should you look?
CEOs around the world are increasingly recognising the untapped potential of sub-Saharan Africa. This is driven by Africa's unparalleled demographic edge or demographic dividend. By 2040, Africa is expected to... read more>>
Food and beverage income climbs
Total income from the food and beverages sectors in South Africa increased in nominal terms (current prices) by 4.2% year-on-year (y/y) in June‚ according to data from Statistics South Africa. read more>>
New 'generation star' Matona to keeps lights on
The Director General of the Department of Public Enterprises (DPE) Tshediso Matona is Eskom's new Chief Executive Officer and his appointment has been confirmed by Public Enterprises Minister Lynne Brown. read more>>
Taxation & Regulation
Cape Town says Sanral is misleading the public
The City of Cape Town has accused the South African National Roads Agency Limited (Sanral) of "peddling fallacies" about the proposed tolling of the N1-N2 Winelands highway, deepening their public spat. read more>>
Conditions and implications of a charitable bequest
The distribution of a deceased estate to a charitable organisation, also known as a charitable bequest, is an easy way to leave a lasting legacy by benefiting a charity. read more>>
Expats may cut ties with UK due to tax changes
Reports that Chancellor George Osborne is preparing to prevent non-residents from offsetting income generated in the UK against their £10,000 personal allowance, may lead British expats to sever financial ties with the UK. This is according to Nigel Green, founder and chief executive of deVere Group. read more>>
A tax of 20% mooted for sugary drinks
A 20% tax on sugar-sweetened drinks could cut the number of obese South Africans by almost a quarter of a million, saving lives and money, local research has found. read more>>
International
Space experts try to fix Galileo satellites
PARIS, FRANCE: Experts are racing to identify and fix a problem that saw two satellites from Europe's troubled Galileo satellite navigation system going into the wrong orbit. read more>>
Backoff: malicious computer software for PoS systems
SAN FRANCISCO, USA: The US Department of Homeland Security has warned businesses to watch for hackers targeting customer data with malicious computer code like that used against retail company Target. read more>>
Amazon to tackle Google's advertising dominance
NEW YORK, USA: US online company Amazon is preparing to take on Google in one of its core businesses, internet advertising, the Wall Street Journal said, citing sources familiar with the developments. read more>>
marcusbrewster wins international PR award
At the Offshore Excellence Awards in London, six South African companies were honoured, with marcusbrewster being named South Africa's Best Onshore & Offshore Focused PR Firm... read more>>
UK bosses earn 143 times more than workers
LONDON, UK: The heads of Britain's largest companies earned 143 times more than their average employee last year, a study has revealed, exposing the growing pay gap between bosses and workers. read more>>
More International
Government
Muthambi says SA women are pioneers of economic emancipation

More Matshediso

Communications Minister, Faith Muthambi, claims women have shown courage in pioneering economic emancipation in southern Africa and beyond. read more>>
Attempt to bridge racial divisions at tertiary institutions
Higher Education and Training Minister Blade Nzimande has released a new policy framework, which aims to end racism and promote integration at tertiary institutions. read more>>
Government needs innovation for service delivery
Public Service and Administration Minister Collins Chabane says the public sector must challenge itself to be creative and embrace innovation as a new way of doing government business more smartly and delivering its services. read more>>
More Government news
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Understanding contracts for effective control
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All industry news

Marketing & Media
    [Biz Takeouts Lineup] 102: Why Millenials matter & agency focus with Utopian Advertising
    Discussing the future of Africa at the GIL Conference 2014 - Cari Van Wyk
    DigiChat with Andrea: Social media ROI - Andrea Mitchell

    Retail
      Truworths seeks new CEO for smooth transition - Nick Hedley
      Unilever sells ice cream to Eskimos - Jason (Frich) Frichol
      Franschhoek Uncorked ushers in summer

      Government
        Empowering women is vital for Africa's development
        SA companies in Maputo for FACIM fair
        Mud schools: SAHRC report dismissed as "misleading"

        Mining
          Clear Asset takes a wide selection to auction
          Kwikspace enables development of major African transport routes
          IWC's slurry cooling towers excel in copper-mining conditions

          CSI
            KZN schools receive R660,000 for science, maths development
            REDISA management system gains international recognition
            Levi's celebrates entrepreneurs with Pioneer Nation festival

            Agriculture
              AGCO searches for Africa ambassador

              Building
                Arup honoured at Top Women Awards ceremony
                Singaphi Street upgrade gets underway
                MBSA Congress focuses on increasing investment in building sector

                GreenBiz
                  Cape Town transport goes green
                  E-waste the fasted growing waste stream
                  Local municipalities to compete for green award

                  HR & Recruitment
                    SA businesses must do more to recruit the disabled
                    Internship portal helps students, graduates find employers
                    Impress potential employers with Impress Me

                    Legal
                      Amendment Act a move to streamline labour environment
                      Merger-related employment conditions stifling efficiencies - Natalie von Ey and Kitso Tlhabanelo
                      Arbitration awards - fallible or infallible - Freddie Terblanche

                      Property
                        New bill to fast-track property registration welcomed - Mark Brickles
                        Considering commercial - Paul Stevens
                        SA cities need to invest in 'smart' infrastructure

                        Education
                          CUT goes green with the Solar-Flower
                          JB Marks Education Trust to hold career networking session
                          Sign language approved as first language

                          Tourism
                            A guest house fit for a Sir - Evan-Lee Courie
                            Joburg gears up for World Orchid Conference
                            [10 Things I Love About...] Stellenbosch - Brian Berkman

                            ICT
                              Why the cloud is transforming data into a new global currency - Mark Ridley
                              How to tie in EBay to your e-commerce strategy - Stuart Gonsal
                              M4JAM launch exceeds expectations

                              Logistics
                                Distance learning - the pitfalls addressed

                                Lifestyle & Entertainment
                                  Kings of Chaos back in SA
                                  African and UK creatives to gather for three-day Joburg event
                                  Nail treatments on the go - Jessica Taylor

                                  Automotive
                                    Ford to launch first right-hand-drive Mustang
                                    GM achieves success in key African markets
                                    Ford launches new Transit model into African market
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