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Economy

Mixed messages from the manufacturing sector

Picture: THINKSTOCK

Seasonally adjusted Barclays purchasing managers index remains unchanged at 51.4 index points, but despite lack of improvement, activity still in expansion territory

Transport & Tourism

NEWS ANALYSIS: Prasa ‘flouted its own procurement policies’

Picture: SUPPLIED

Controversy refuses to die over the Passenger Rail Agency of SA’s deal to procure 70 locomotives from Spanish manufacturer Vossloh Espana, writes Andiswa Maqutu

Transport & Tourism

Fencing firm denies claim by former Prasa CEO

Lucky Montana in Parliament. Picture: TREVOR SAMSON

Company that former Prasa CEO Lucky Montana has accused of inflating invoices by about R100m denies impropriety

Transport & Tourism

Hanekom acknowledges visa rules hurt

Science and Technology Minister Derek Hanekom announces South Africa's bio-economy strategy in Pretoria on Tuesday. Picture: PUXLEY MAKGATHO

Tourism Minister Derek Hanekom strikes conciliatory note and reassures hospitality sector solutions will be found to issues over new visa regulations

Business

Dollar millionaire numbers growing rapidly in Africa

Ships and boats in the new Suez Canal in Ismailia, east of Cairo. Egypt has the second-highest number of dollar millionaires on the continent. Picture: AFP PHOTO/KHALED DESOUKI

Mozambique expected to add dollar millionaires at fastest rate in Africa over the next decade, followed by Cote d’Ivoire and Zambia as construction, financial services and property developments boost ranks

Business

Big business bosses speak of challenges they face

Ian Kirk. Picture: RUSSELL ROBERTS

CEOs from Sanlam, Pick n Pay and Spur get together for a panel discussion on the common challenges they face

Transport & Tourism

Cabinet to reassess new visa regulations, says minister

Science and Technology Minister Derek Hanekom announces South Africa's bio-economy strategy in Pretoria on Tuesday. Picture: PUXLEY MAKGATHO

Tourism Minister Derek Hanekom tells conference that Cabinet has decided to ‘assess unintended consequences of regulations’

Energy

Hearings to open debate on nuclear

Fikile Majola, chair of the energy committee. Picture: TREVOR SAMSON

Parliament’s portfolio committee on energy to buck trend on ‘secret’ power procurement

Opinion

EDITORIAL: Much rests on gold wage deal

Workers aligned to the Association of Mineworkers and Construction Union march to Wonderkop Stadium to demand rival NUM vacate the office at Lonmin mine in Rustenburg in 2013. Picture: SOWETAN

Co-operation for the greater good has never been more urgent and unions should work together and with management to avoid a strike which could cripple the industry and economy as the gold price falls

Opinion

Go with the herd or your gut?

Eyal Winter makes the point that our emotional and intellectual mechanisms often work together — ‘there is logic in emotion and often emotion in logic’

Picture: THE NEW YORK TIMES/TONY CENICOLA

Six steps toward having a mindful holiday

Whole point of taking time off is to achieve calm, happy, energised states of mind we need to be effective workers

Absa

Absa Wealth offers local investors with innovative risk management solutions

Picture: iStock

Investors looking to mitigate concentration risk, or protect against market fluctuations will now benefit from risk management capabilities of Barclays network

Featured Partner

The Field Office

Success should be a result, not luck

Picture Andries Joubert

Implement right sales system so business success becomes inevitable outcome and not wishful stroke of luck, advises Duaan Dekker of Field Office

Featured Partner

Financial Services

FNB wins Gauteng banking tender

Picture: SUNDAY TIMES

First National Bank is named winner of centralised banking tender on condition it pledges to support township enterprises

National

Pension reforms aim to tackle SA’s failure to save

Mcebisi Jonas. Picture: MARK ANDREWS/DAILY DISPATCH

Decline in SA’s savings to 14.9% of gross domestic product prompts the state to institute pension reforms

Property

‘New York of Africa’ on track

Picture: THINKSTOCK

Chinese company Zendai Development South Africa says its city-in-the-suburb plan for Modderfontein are on track

Retail & Consumer

Aca Joe owner Platinum Group not in liquidation, says CE

Marcel Joubert. Picture: SUNDAY TIMES

Owner of well known South African brands such as Aca Joe and Hilton Weiner looking to recapitalise struggling businesses to the tune of between R20m and R50m

Mining

Cutifani takes on Mantashe over job cuts

Anglo American CEO Mark Cutifani. Picture: REUTERS

Anglo American CEO Mark Cutifani criticises labour and black economic empowerment in forthright remarks on South Africa

Business

What basic things can you do to limit load shedding’s effects on your business?

Picture: THINKSTOCK

Load shedding set to be part of our lives in SA for foreseeable future, bringing with it inconvenience and expense for all, not to mention business landscape

National

Council for Medical Schemes speaks on prescribed minimum benefits

Picture: THINKSTOCK

Changes define how much a scheme is expected to pay if a member voluntarily uses the services of a doctor or hospital outside its network

Picture: THINKSTOCK

Call for retirement savings to boost SA

Institutional investors should allocate more of workers’ R4-trillion in retirement savings towards development initiatives to boost economy growth and create jobs

Transport & Tourism

Auditor-general asked to probe Prasa tender claims

Minister of Transport Dipuo Peters. Picture: TREVOR SAMSON

Transport ministry commissions auditor-general’s office to look into alleged violations of Public Finance Management Act and other related statutes regarding contracts

Labour

Amcu rejects wage hike from gold producers

Workers aligned to the Association of Mineworkers and Construction Union march to Wonderkop Stadium to demand rival NUM vacate the office at Lonmin mine in Rustenburg in 2013. Picture: SOWETAN

Members of Association of Mineworkers and Construction Union rejects wage offer from gold producers of increases of up to 17%, says spokesman

Trade & Industry

Motor sector urged to increase local content

The state is on a drive to place greater emphasis on supplier development in the motor vehicle industry. File picture: FINANCIAL MAIL

The sector will survive but should aim at turning into a ‘true manufacturing industry not one that simply assembled parts’

Trade & Industry

SA-Nigeria motor industry plan is a win-win, says Erwin

Picture: REUTERS

Sectors in SA and Nigeria to ‘complement each other’, says former cabinet minister Alec Erwin

Management

Four tips for getting the response you need

Picture: THE NEW YORK TIMES/TONY CENICOLA

We tend to default to e-mail when wanting to connect with other people, but it is not always most appropriate medium to use

Business

New CEO Mukoki in the clear, says Sacci

Alan Mukoki is the new CEO of the South African Chamber of Commerce and Industry. Picture: SUNDAY TIMES

Investigations allay concerns over South African Chamber of Commerce and Industry’s new head Alan Mukoki

Energy

Revealed: real price of nuclear energy

Picture: THINKSTOCK

Price of electricity generated by nuclear power expected to be higher than that from any other technology except for gas and diesel, say analyses

Healthcare

Proposed medical schemes change misunderstood, says state

Picture: THINKSTOCK

Controversial plans to limit responsibility of medical schemes for paying prescribed minimum benefits never intended to leave patients footing part of bills

Mining

Lonmin: victim of price falls and management wobbles

A man rides his bicycle past the Lonmin mine outside Rustenburg, northwest of Johannesburg. Picture: REUTERS

Platinum producer faces deepest crisis to date, hurt by downturn in metal, haunted by mixture of bad luck, management choices that are putting its survival at risk

Labour

NUM signs three-year wage deal with Northam Platinum

Platinum. Picture: REUTERS

National Union of Mineworkers says it has signed three-year wage deal with Northam Platinum for increases of up to 17% for lowest paid members

Healthcare

Basic medical aid could soon be within reach of the poor

Picture: THINKSTOCK

Very basic benefit options could cost as little as R200 per person a month

Transport & Tourism

SA’s new visa rules led to drop in tourism, says minister

Tourism Minister Derek Hanekom. Picture: SOWETAN

New visa regulations have led to ‘worrying drop’ in foreign visitors to SA and new approach may be needed, says Tourism Minister Derek Hanekom

Labour

Cosatu backs Expropriation Bill

Picture: THE TIMES

Union federation backs bill and says the courts do not have the capacity to conduct property valuations

Business

Sacci names former Land Bank chief as its new CEO

Alan Mukoki is the new CEO of the South African Chamber of Commerce and Industry. Picture: SUNDAY TIMES

South African Chamber of Commerce and Industry has appointed former Land Bank CEO Alan Mukoki CEO, he takes over from Neren Rau, who stepped down last year

Opinion

It’s transformation, or a return to prescribed assets

Failure to condemn the antitransformation elements in corporate SA by its supporters reflects badly on all white business-owned entities

Opinion

Innovation has cyclists’ back

A technological device that helps cyclists respond to traffic threats behind them will hopefully reduce road deaths of cyclists such as Burry Stander, whose body is carried out of a church. Picture: THE TIMES

A local radar invention, developed in Stellenbosch and bought by Garmin SA, will help cyclists to ride defensively

Industrials

Durban to get supplier park

Picture: THINKSTOCK

Supplier park plan comes as the automotive industry awaits government word on the review of the automotive production and development programme

Labour

Unions seek to ‘maximise cash component’ of any deal with gold producers

Picture: AFP PHOTO/OZAN KOSE

Gold producers will table final offer to all four unions participating in wage talks after hearing concerns from organised labour that cash component of any offer is key

Energy

Two suspended executives return to PetroSA

Nosizwe Nokwe-Macamo. Picture: FINANCIAL MAIL

In a dramatic twist, suspended executives may have backed moves to isolate former board chairwoman Nonhlanhla Jiyane, who quit this week

Transport & Tourism

SA digs in on African business visas

Picture: SUNDAY TIMES

Department of Home Affairs strongly resists bid by the East African Community for business visas to be issued on arrival

Economy

SA and Nigeria both grappling with structural socioeconomic challenges

The Victoria Island waterfront is seen from the Ikoyi neighbourhood in Lagos, Nigeria. Picture: REUTERS

Two biggest economies in Africa grappling with structural socioeconomic challenges that are stunting trade, domestic growth, and cooperation between them

Opinion

Let’s drop the J-word from our vocabulary and stop evolving

Satya Nadella. Picture: REUTERS

Both ‘evolution’ and ‘journey’ are wimpish attempts to disguise decisions that may turn out to be right or wrong

Opinion

STRAIGHT TALK: Beyond lose-lose wage talks

If the government insists on creating jobs where none are required, it should be prepared to face the inevitable job cuts

Energy

Cheer at the pumps as AA sees big drop in petrol price

Picture: MARTIN RHODES

Automobile Association says current data indicates petrol price will decrease by between 47c to 49c a litre in August‚ with diesel dropping about 70c

National

Banks warn Expropriation Bill will create risks for bond debtors

Dr Anthea Jeffery, left, of the Institute of Race Relations, and Deputy Public Works Minister Jeremy Cronin address the public hearings on the Expropriation Bill in Parliament on Tuesday. Pictures: TREVOR SAMSON

Bill allows state to expropriate private property and pay compensation equal to 80% of market value

Property

Spate of malls reflects an African metamorphosis

Zambians walk past a Shoprite store in the capital Lusaka. South African-built shopping malls in Zambia and many other African countries are changing the way locals shop. Picture: REUTERS/SALIM HENRY

South African-built shopping malls in Zambia and many other African countries are changing the way locals shop, writes Andrew England

Transport & Tourism

Satawu urges return of Prasa’s Montana

Lucky Montana. Picture: MARTIN RHODES

Union threatens to disrupt Passenger Rail Authority of SA unless former CEO Lucky Montana returns

Financial Services

Bids to tighten legal privilege in tax dealings

Rows of taxpayers  wait to be assisted with their income tax returns at the SARS office in Port Elizabeth. Picture: THE HERALD/FREDLIN ADRIAAN

Treasury and the South African Revenue Service challenge validity of legal privilege to withhold documents

Industrials

NEWS ANALYSIS: Ideology hampers recovery of a sector on its knees

Economic Development Minister Ebrahim Patel. Picture: TREVOR SAMSON

State’s desire to use metals production and beneficiation to ‘re-industrialise’ the country is paralysed by contradiction, writes Mark Allix

Labour

Union suspicion over gold sector wage offer

Picture: THINKSTOCK

Village’s deal with unions will, in principle, increase the basic salary for categories 4-8 workers by R1,000

Economy

Job losses are a social threat, says Mantashe

Gwede Mantashe. Picture: PUXLEY MAKGATHO

The private sector will only realise the dangers of high unemployment when disruptions begin, warns ANC secretary-general Gwede Mantashe

Energy

Now chair quits embattled PetroSA

A chimney flares at PetroSA's Mossgas facility in Mossel Bay. Picture: THE TIMES

State oil company PetroSA's board now lacks quorum following suspension of executive directors

Energy

Advocacy group asks what chance fracking has of succeeding in SA

A worker cleans and lubricates the head of the machine after the hydraulic fracturing of a gas field segment at Southwestern Energy's natural gas production site at the Marcellus Shale formation in Camptown, Pennsylvania, US. Picture: BLOOMBERG/JULIA SCHMALZ

If big names can’t make profit in US, where everything is stacked in favour of shale gas‚ how can one expect to come to SA and get it right, asks Treasure Karoo Action Group

Transport & Tourism

Prasa chairman shrugs off ‘assassination plot’

Popo Molefe. Picture: SOWETAN/SUNDAY WORLD

Prasa chairman Popo Molefe sees death threats as directly linked to fallout with former CEO Lucky Montana

Standard Bank

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