Business Day (South Africa) articles from April 2010, page 7

Business Day (South Africa) archives from April 2010

When the price is too high.
April 20, 2010... When the price is too high Aurora misadventure points to hard choices ANYONE looking to explore the potential tensions between narrow-based black empowerment and economic development need look no further than the debacle at Aurora Mining...

Opera.
April 20, 2010... Byline: MARY JORDAN Opera marynjordan@yahoo.com IT IS to the credit of Opera Africa that it takes its mission and duties as purveyor of music-drama seriously. The chief priority of CEO Sandra de Villiers and her husband, artistic director...

Nedbank Cup to show Soccer City to world.
April 20, 2010... Byline: Mninawa Ntloko Nedbank Cup to show Soccer City to world Final may be televised globally MNINAWA NTLOKO Sports Editor PREMIER Soccer League (PSL) CEO Kjetil Siem yesterday revealed that talks were at an advanced stage with US, European...

Clegg's rise shows the new power of the 'mo'.
April 20, 2010... Byline: TIM COHEN Clegg's rise shows the new power of the 'mo' THE British election is panning out to be one of the most interesting in over a decade, but the way it is unfolding also asks fundamental questions of politics in general: does...

'Wunder' shines a harsh light on SA jobs policy.
April 20, 2010... Byline: HILARY JOFFE 'Wunder' shines a harsh light on SA jobs policy ONE of the questions that is not being asked, or at least not very loudly, is just why SA's labour market took such a severe hit last year. Our recession was relatively...

New jobs at car firms signal rebound.
April 20, 2010... Byline: ARTWELL DLAMINI New jobs at car firms signal rebound Several manufacturers are now back on double shifts after scaling down during recession Transport Correspondent CAR manufacturers have started to create jobs, marking an end to...

Sexwale, banks discuss housing incentive fund.
April 20, 2010... Byline: THABANG MOKOPANELE Sexwale, banks discuss housing incentive fund Property Editor SOUTH Africans who do not qualify for government subsidies and housing loans from commercial banks stand to benefit from the R1bn guarantee fund that...

Eskom can now seek other funds, says finance chief.
April 20, 2010... Byline: SISEKO NJOBENI Eskom can now seek other funds, says finance chief Energy Affairs Editor ESKOM was looking at various funding options to reduce its R190bn funding gap, finance director Paul O'Flaherty said yesterday. The finalisation...

Workload in Gauteng high courts up 400%.
April 20, 2010... Byline: FRANNY RABKIN Workload in Gauteng high courts up 400% Number of civil cases alone could reach 100000 this year, from 21290 in 1987 with no extra judges appointed Staff Writer WHILE the paucity of women judges has been the focus of...

Selebi says he asked for meeting with Kebbles.
April 20, 2010... Byline: ERNEST MABUZA Selebi says he asked for meeting with Kebbles Legal Affairs Correspondent FORMER police commissioner Jackie Selebi yesterday insisted that he asked for meetings with businessmen Roger Kebble, Brett Kebble and Gavin...

ANC tells members to clean up party's image.
April 20, 2010... Byline: SIBONGAKONKE SHOBA ANC tells members to clean up party's image Staff Writer THE African National Congress (ANC) in Gauteng started its campaign for next year's local government elections yesterday, telling its members to clean up the...

Standard pay 'key to fixing FET colleges'.
April 20, 2010... Byline: SUE BLAINE Standard pay 'key to fixing FET colleges' Roundtable discussion leaves interested parties optimistic about reviving further education sector Education Correspondent THE first step towards solving the myriad problems in the...

SA drops in business stress ranks.
April 20, 2010... Byline: MARIAM ISA SA drops in business stress ranks Economics Editor STRESS for South African business heads has climbed in line with the rest of the world, but since 2007 the country's relative position has improved dramatically, a survey...

'Spying' forfraud among doctors slated.
April 20, 2010... Byline: LUPHERT CHILWANE 'Spying' forfraud among doctors slated General Reporter THE South African Medical Association (Sama) says the methods used by medical aid schemes to investigate fraud among private doctors do not meet investigation...

Doubts raised about SA meeting looming digital TV deadline.
April 20, 2010... Byline: CHANTELLE BENJAMIN Doubts raised about SA meeting looming digital TV deadline Media Editor COMMUNICATIONS Minister Siphiwe Nyanda remains committed to a deadline of migrating from analogue to digital TV broadcasting by November next...

Value for money in Mr Price's ratings.
April 20, 2010... Byline: BEN TEMKIN PRIVATE INVESTOR Value for money in Mr Price's ratings WHILE waiting for news on the counters for the Private Investor portfolio and the High Yield portfolio, I've been watching trading updates on companies in which I'm a...

IN: Securities and Exchange Commission chairwoman Mary Schapiro.
April 20, 2010... Securities and Exchange Commission chairwoman Mary Schapiro. Charging Goldman Sachs with fraud will, it is to be hoped, finally help get to the bottom of what went wrong on Wall Street.

OUT: Zimbabwean President Robert Mugabe.
April 20, 2010... Zimbabwean President Robert Mugabe says he wants to fix the economy, but insists a business indigenisation law will go ahead as planned. Oxymoron, from the Greek for pointedly foolish.

OUT: Pope Benedict.
April 20, 2010... Pope Benedict. If, as he says, the Catholic Church has been doing everything in its power to put a stop to the sexual abuse of young people by members of the clergy, why is it still so terribly rampant?

Komphela allays fear over rugby stadiums.
April 20, 2010... Byline: Zeena Isaacs Komphela allays fear over rugby stadiums ZEENA ISAACS Rugby Correspondent THE Bulls and Cheetahs could be pleasantly surprised when they appear before the parliamentary portfolio committee on sport today after its...

Angolan exchange could be an 'African giant'.
April 20, 2010... Byline: Edward West Angolan exchange could be an 'African giant' EDWARD WEST THE Angolan stock exchange being launched later this year has the potential to be an African giant, according to an assessment by pan-African Imara financial...

Aveng plans greater focus on water treatment schemes.
April 20, 2010... Byline: Jocelyn Newmarch Aveng plans greater focus on water treatment schemes JOCELYN NEWMARCH Infrastructure & Environment Correspondent ENGINEERING and construction group Aveng is planning to put a greater focus on water treatment...

Dutch fund manager to invest $250m in local mining sector.
April 20, 2010... Byline: Bheki Mpofu Dutch fund manager to invest $250m in local mining sector 'Conservative' APG's commitment to Pallinghurst shows confidence BHEKI MPOFU Resources Editor DUTCH asset manager Algemene Pensioen Groep (APG) has committed $250m...

New law will stop 'chancers' who try accounting.
April 20, 2010... Byline: Sanchia Temkin New law will stop 'chancers' who try accounting SANCHIA TEMKIN Professional Services Editor THE new Companies Act signals the end of the road for unqualified chancers who have been passing themselves off as professional...

Eqstra plans R650m rights offer to meet short-term debt.
April 20, 2010... Byline: Artwell Dlamini Eqstra plans R650m rights offer to meet short-term debt ARTWELL DLAMINI Transport Correspondent EQSTRA Holdings yesterday announced that it planned a R650m rights offer in a move aimed at avoiding a breach of debt...

Ongoing strike hits production at Modder East mine.
April 20, 2010... Byline: Simon Mundy Ongoing strike hits production at Modder East mine SIMON MUNDY Contributing Writer CONTINUING industrial action at Gold One International's flagship Modder East mine may have cost up to 2000oz of gold production in the...

Hogan in the dark.
April 20, 2010... Byline: Wallace Mayne Hogan in the dark The dumbing-down effect on politicians entering a government is a well-known phenomenon. But the speed at which Public Enterprises Minister Barbara Hogan has attained a triple-digit cut in her IQ...

New ranks a setback.
April 20, 2010... Byline: I Ceruti New ranks a setback For those of us who welcomed the changes that ushered in the more user-friendly police service that replaced the apartheid police force, which was known for its violence and repression, the reintroduction...

Valid concern ignored.
April 20, 2010... Byline: Margie Hengstberger Valid concern ignored Ken Owen (Undeserved hysteria, Letters, April 19) has totally ignored a very valid concern to the similarity of the Kill the Jews song in the Nazi era by writing a really cheap shot reply to...

Salga in a sorry state.
April 20, 2010... Byline: Mogomotsi Mogodiri Salga in a sorry state With the refuse piling up daily due to the municipal strike, isn't it time to look at the root cause of the mess at local government level? I hold no brief for the South African Municipal...

What is our future?
April 20, 2010... Byline: Hasani Mabasa What is our future? In a few weeks' time, a visibly divided nation or rather, two coexisting nations will welcome soccer lovers from all over the world. The two nations in question are the angry blacks and touchy whites....

Revive rail tourism.
April 20, 2010... Byline: John Batwell Revive rail tourism In response to Julius Baumann's news analysis (Van Schalkwyk leads the way to Zimbabwe, April 16), which dealt with the visit to Zimbabwe's Victoria Falls by Tourism Minister Marthinus van Schalkwyk,...

SA is distracted by verbal volcanoes.
April 20, 2010... Byline: Lucas Ntyintyane SA is distracted by verbal volcanoes Iceland's volcanic ash has a great ally in Julius Malema and the African National Congress Youth League. As one is spewing ash into European skies, the other is poisoning our...

Volcanoes not green.
April 20, 2010... Byline: Andy Clay Volcanoes not green It seems to me ironic that many people are up in arms about SA building more coal-fired power stations and generating more CO but in the meantime natural forces once again demonstrate quite clearly that...

Caterers hunger for a slice of World Cup.
April 20, 2010... Byline: Michael Bleby Caterers hunger for a slice of World Cup MICHAEL BLEBY Retail Industries Editor A NUMBER of local caterers are pinning their hopes for growth on the experience they will get from supplying the World Cup. Many have dreams...

Mondi bags Smurfit Kappa's European works.
April 20, 2010... Byline: Thabang Mokopanele Mondi bags Smurfit Kappa's European works Paper and packaging group strengthens industrial, consumer bag business in Europe, sells UK plants to Smurfit Kappa THABANG MOKOPANELE PAPER and packaging group Mondi has...

Capitec helps push recurring headline earnings at PSG up 19%.
April 20, 2010... Byline: Edward West Capitec helps push recurring headline earnings at PSG up 19% EDWARD WEST Finance Editor PSG Group boosted headline earnings per share by a hefty 281,6% to 249,2c for the year to February, due mainly to mark-to-market...

State subsidises credit rating cost to bolster trade.
April 20, 2010... Byline: STEPHEN TIMM State subsidises credit rating cost to bolster trade THOUSANDS of businesses in India are finding it easier to take out a loan and negotiate with banks for lower interest-rate terms thanks to an Indian government scheme...

India's loan scheme for small businesses holds lessons for SA.
April 20, 2010... Byline: STEPHEN TIMM India's loan scheme for small businesses holds lessons for SA Speedy settlement of defaulting loans a crucial aspect, writes SA's Economic Development Minister, Ebrahim Patel, announced last month his department would...

How Transnet derails SA's coal export expansion.
April 20, 2010... Byline: Artwell Dlamini How Transnet derails SA's coal export expansion While mine deposits are plentiful and port capacity is great, rail is weakest link, writes IT IS Transnet's fault. Xavier Prevost, a senior coal analyst at XMP...

Hlophe set for new JSC hearing after court decision.
April 20, 2010... Byline: FRANNY RABKIN Hlophe set for new JSC hearing after court decision Staff Writer THE complaint of gross misconduct against Judge John Hlophe, which split the judiciary for more than a year, is likely to be reopened after the Cape High...

A few bits of investment advice that could prove to be very useful.
April 20, 2010... Byline: Michelle Pireu StreetDogs A few bits of investment advice that could prove to be very useful IF INVESTING is not your profession at the end of the day, you're going to have to trust someone. So there are four or five simple rules: You...

Kumba insists on its price in Mittal dispute.
April 20, 2010... Byline: BHEKI MPOFU Kumba insists on its price in Mittal dispute Resources Editor KUMBA Iron Ore said yesterday it had invoiced ArcelorMittal SA at market prices for iron-ore supplies, indicating that their two-month-old dispute was far from...

Zuma 'back-pedals' on Malema charges.
April 20, 2010... Byline: KARIMA BROWN Zuma 'back-pedals' on Malema charges Political Editor PRESIDENT Jacob Zuma appeared to have capitulated yesterday and agreed to withdraw disciplinary charges against African National Congress (ANC) Youth League president...

Union calls for investor to take over Aurora's mines.
April 19, 2010... Byline: ALISTAIR ANDERSON Union calls for investor to take over Aurora's mines Contributing Writer EMPLOYEES of Aurora Empowerment Systems, who have been striking for a month over unpaid wages, will return to work when a financially fit...

Reserve Bank may cut again next month.
April 19, 2010... Byline: Mariam Isa THE ECONOMIC WEEK AHEAD: MARIAM ISA Reserve Bank may cut again next month SUSTAINED strength in the rand and evidence that consumers are still not spending has fuelled speculation that the Reserve Bank may cut interest...

Malema to put ANC stability to the test.
April 19, 2010... Byline: Karima Brown THE POLITICAL WEEK AHEAD: KARIMA BROWN Malema to put ANC stability to the test PLANNED African National Congress (ANC) disciplinary action against youth league leader Julius Malema will top the political agenda this week,...

Lack of judge candidates 'disturbing'.
April 19, 2010... Byline: FRANNY RABKIN Lack of judge candidates 'disturbing' Uncontested posts for judge-president undermining work of JSC, commissioner observes Staff Writer JUDICIAL Service Commission (JSC) member Fatima Chohan has expressed disappointment...

State tackles Selebi on two alleged favours to Agliotti.
April 19, 2010... Byline: ERNEST MABUZA State tackles Selebi on two alleged favours to Agliotti Legal Affairs Correspondent THE prosecution on Friday began the cross-examination of former police commissioner Jackie Selebi by focusing on the two alleged favours...

Wildlife reaction unit to be created.
April 19, 2010... Byline: Linda Ensor Wildlife reaction unit to be created Budget of R2m to be increased as syndicates spread their activities into new areas LINDA ENSOR Political Correspondent CAPE TOWN A special national wildlife reaction unit is to be set...

'Smart meters' save electricity.
April 19, 2010... Byline: JOCELYN NEWMARCH 'Smart meters' save electricity Infrastructure and Environment Correspondent IMPLEMENTING smart metering solutions with tiered electricity tariffs could help consumers to save money by controlling power use while...

GETTING IT RIGHT.
April 19, 2010... GETTING IT RIGHT CORRECTION Metrofile's CEO is Graham Wackrill and not Neil Wackrill, as incorrectly reported in Business Day last Friday in the story headlined, Metrofile plans to resume dividends.

Sport is rarely fair and that is something the Lions can attest to.
April 19, 2010... Byline: Mark Keohane Sport is rarely fair and that is something the Lions can attest to TO THE neutral, the first 40 minutes in Brisbane was a fantastic advertisement for rugby. It was breathtaking and if rugby allowed for a rotating...

Funeka put on suspension until hearing.
April 19, 2010... Byline: KULANI NKUNA Funeka put on suspension until hearing Doctor says drug 'was prescribed to help boxer during flight to US' JOHANNESBURG After reports last week that Ali Rush Hour Funeka had tested positive for the banned substance...

Pre-Cup jitters as clock runs down.
April 19, 2010... Pre-Cup jitters as clock runs down It is up to SA to make the most of opportunities WITH just 52 days to go to the World Cup kickoff, it would be easy to be unnerved by two events that happened last week. One was that the first day of...

Arts & Leisure. Crucial CD Collection.
April 19, 2010... Byline: RICHARD HASLOP Crucial CD Collection richardh@woodhead.co.za SOMETIME in the mid '80s a friend in New Zealand started sending me cassettes featuring local independent rock groups he thought I should hear. He was nearly always right....

Sowing the seeds for a new harvest of winemakers.
April 19, 2010... Byline: Katy Chance Sowing the seeds for a new harvest of winemakers The Nedbank Cape Winemakers Guild Development Trust has two new bursars, says , and good reds are their goal THE Cape Winemakers Guild, started in 1982, is widely regarded...

Eskom willing to 'buy SA' but warns on higher costs, tariffs.
April 19, 2010... Byline: LINDA ENSOR Eskom willing to 'buy SA' but warns on higher costs, tariffs Political Correspondent CAPE TOWN Eskom supported the use of its huge procurement programme to stimulate local industry, but has warned that this means higher...

Rates may fall again on strong rand, low spending.
April 19, 2010... Byline: Mariam Isa Rates may fall again on strong rand, low spending SUSTAINED strength in the rand and evidence that consumers are still not spending has fuelled speculation that the Reserve Bank may reduce interest rates again at its policy...

Solidarity 'unhappy' with Telkom's voluntary severance plan.
April 19, 2010... Byline: Thabiso Mochiko Solidarity 'unhappy' with Telkom's voluntary severance plan THABISO MOCHIKO Information Technology Editor TRADE union Solidarity says it may take action against Telkom over plans to offer managers voluntary severance...

On the right track to better health.
April 19, 2010... Byline: Tamar Kahn On the right track to better health Transnet's mobile clinic is so popular, a second train is planned, writes AFTER years of excruciating pain, Leah Hendricks has finally got rid of her troublesome tooth and is looking...

THE THICK END OF THE WEDGE.
April 19, 2010... Byline: Peter Bruce THE THICK END OF THE WEDGE THE EDITOR'S NOTEBOOK THE ANC has just this one chance, starting today, to get it right. There must be no bungles, no procedural hitches and no pussy-footing. ANC Youth League president Julius...

Goldman and bank regulation.
April 19, 2010... Byline: Tim Cohen Goldman and bank regulation THE standout event of the past week in business was the US Securities and Exchange Commission's potentially devastating charge levelled at Goldman Sachs, certainly in the immediate past the...

Mining survey shows that SA's reputation is on the slippery slope.
April 19, 2010... Byline: Tim Cohen Mining survey shows that SA's reputation is on the slippery slope GIVEN the importance of SA's mining industry, the dangers of the bureaucratisation of mining have provided one of the most important debates SA has ever...

Bulls, Cheetahs may lose home-ground edge.
April 19, 2010... Byline: Zeena Isaacs Bulls, Cheetahs may lose home-ground edge Unions to appear in Parliament tomorrow to discuss concern about state of pitches ahead of Soccer World Cup ZEENA ISAACS Rugby Correspondent THE Bulls and Cheetahs could be forced...

Bantu Investment following up projects of R2bn in Congo.
April 19, 2010... Byline: Alistair Anderson Bantu Investment following up projects of R2bn in Congo ALISTAIR ANDERSON Contributing Writer SOUTH African investment firm Bantu Investment Holdings says it is pursuing a series of projects worth R2bn, to be...

Restructuring lifts Astrapak earnings.
April 19, 2010... Byline: Simon Mundy Restructuring lifts Astrapak earnings SIMON MUNDY Contributing Writer A MAJOR restructuring programme by South African packaging company Astrapak started 18 months ago is paying dividends, according to CEO Marco Baglione,...

Basel 3 may spur new bank models.
April 19, 2010... Byline: Edward West Basel 3 may spur new bank models EDWARD WEST Finance Editor THE Basel 3 proposal on banking supervision could strengthen bank balance sheets and trigger changes in business models and product pricing, according to an...

Basil Read sets ambitious growth target, says much of it will be organic.
April 19, 2010... Byline: Sure Kamhunga Basil Read sets ambitious growth target, says much of it will be organic SURE KAMHUNGA Companies Editor CONSTRUCTION group Basil Read plans to be a R10bn company in just three years compared with just R5bn now, which...

BASIL READ.
April 19, 2010... BASIL READ Full Year 2009 2008 Revenue (Rbn) 4,7 3,5 Pretax (Rm) 411,8 296,1 Net Income (Rm) 270,9 205,8 Headline EPS (c) 333,12 267,04 Dividend PS (c) 42 58

CoAL confident its mine will not harm national park.
April 19, 2010... Byline: Simon Mundy CoAL confident its mine will not harm national park SIMON MUNDY Contributing Writer COAL of Africa's (CoAL's) Vele coking coal project in Limpopo is on track to begin production in August, chief operating officer Riaan van...

COAL OF AFRICA.
April 19, 2010... COAL OF AFRICA Half-year 2010 2009 Revenue (A$m) 13,4 23,9 Pretax (A$m) (38,7) (1,3) Net Income (A$m) (35) (1,3) Headline EPS (cents) (4,48) (0,32) Dividend PS

FNB signs up 2-million cellphone bank clients.
April 19, 2010... Byline: Sure Kamhunga FNB signs up 2-million cellphone bank clients SURE KAMHUNGA Companies Editor FIRST National Bank (FNB) had registered 2-million cellphone banking users since the service was launched five years ago and the bank said on...

Closures for greater good Harmony.
April 19, 2010... Byline: Simon Mundy Closures for greater good Harmony NUM to oppose retrenchments SIMON MUNDY Contributing Writer HARMONY Gold Mining said on Friday it would close three money-losing shafts at its Virginia operation in the Free State, in a...

Unhindered flights.
April 19, 2010... Byline: Harry Hyams Unhindered flights Seeing all the aircraft flights cancelled because of falling ash over Europe and Britain from the volcano in Iceland I remember the eruption of Vesuvius in Italy in 1944. The ash was up to 30000 feet...

Strikers' tangled logic.
April 19, 2010... Byline: Mark Wade Strikers' tangled logic In a previous letter I said the people who had now voted three times for the African National Congress (ANC) were fools. I think I exaggerated their intelligence. Dissatisfied South African...

Greed hurts 2010.
April 19, 2010... Byline: Simon Reader Greed hurts 2010 Danny Jordaan's efforts to excuse the revised numbers of expected visitors to 2010 by blaming the recession are akin to suggesting John F Kennedy was assassinated by a French bulldog sitting in a tree...

ANC is shareholder.
April 19, 2010... Byline: Alan Tamaris ANC is shareholder Recent reports attribute the following to African National Congress (ANC) secretary-general Gwede Mantashe: It was not up to the ANC to decide whether its investment arm, Chancellor House Holdings,...

Undeserved hysteria.
April 19, 2010... Byline: Ken Owen Undeserved hysteria Permit me a final word to apologise to Alan Browde (No change from Ken, Letters, April 15) for assuming that he was invoking images of the Holocaust when he threw the sentence Kill the Jews into a...

SA does have a culture of giving.
April 19, 2010... Byline: Colleen du Toit SA does have a culture of giving In his letter (Bring on philanthropy, April 14) Henry Watermeyer intimates that people who have made enormous profit out of the transformation process do not make the effort to...

Ask SARS for help.
April 19, 2010... Byline: Ann Barnes Ask SARS for help I cannot believe that councillor Parks Tau could fudge the facts about the billing system like that, (Ratepayers to cover cost of 'mistakes' in choice of contractor, April 16.) The City of Joburg cannot...

Fear and violence.
April 19, 2010... Byline: Willem Cronje Fear and violence Julius Malema, during his recent visit to Zimbabwe, showered praise on the noble revolutionaries of Zanu (PF) for seizing the land from the imperialists. Then he implored his hosts not to use violence....

Rail limits putting brakes on coal miners.
April 19, 2010... Byline: Artwell Dlamini Rail limits putting brakes on coal miners European customers desire SA coal but are 'giving up' and looking elsewhere as local supplies are constrained ARTWELL DLAMINI Transport Correspondent THE country's coal...

Moving forward with the necessary skills.
April 19, 2010... Byline: Erica Webster Moving forward with the necessary skills AFRICA's time has come to be counted, but to succeed it will have to equip its leaders with the skills needed to take the continent forward, says Lynette Chen, CEO of the Nepad...