Business Day (South Africa) articles from July 2008

Business Day (South Africa) archives from July 2008

Hedges still a thorny issue for Sasol.
July 31, 2008... Byline: Edward West Hedges still a thorny issue for Sasol SASOL continues to maintain a degree of silence on whether part of its synfuels production is going to be hedged in the 2009 financial year. Sasol has had little luck with its...

Banking on autonomy.
July 31, 2008... Byline: Edward West Banking on autonomy OUR research last month showed about 18% of the big four banks' directors had little to no prior banking experience. More than 20% of Absa's directors, which had the largest board, fell into this...

The cost of Doha talks.
July 31, 2008... Byline: Edward West The cost of Doha talks HOW much of a disaster is it for the developing world that the Doha round of world trade talks failed? It was intended as a development round as it was widely thought the previous round the...

BUSINESS DAY APPOINTMENTS.
July 31, 2008... BUSINESS DAY publishes executive appointments every Thursday. Positions are limited to MD, CEO, GM, chief operating officer, financial director, board chairman, and directors. Please e-mail details of appointments and a high-resolution...

Bank faces tough call as inflation races to 11,6%.
July 31, 2008... Byline: Mariam Isa Bank faces tough call as inflation races to 11,6% Analysts divided on whether new CPIX will prompt interest rate hike Economics Editor INFLATION surged to 11,6% last month, exceeding forecasts and leaving opinion...

Marcus must dig deep to win for Laird.
July 31, 2008... Byline: David Mollett Marcus must dig deep to win for Laird Trainers' title showdown today Racing Editor WITH big race victories to his credit in Dubai and Singapore this year, jockey Anton Marcus has no trouble in handling pressure. But...

That massive magnetic pull towards disaster.
July 31, 2008... Byline: Michel Pireu That massive magnetic pull towards disaster COGNITIVE dissonance an uncomfortable stress caused by holding two contradictory ideas simultaneously. The theory of cognitive dissonance proposes people have a fundamental...

THE INSIDER.
July 31, 2008... THE INSIDER Landlubbers ahoy,shiver me timbers PROF Renfrew Christie, dean of research at the University of the Western Cape, had his audience of academics and senior mariners in stitches at the recent conference on maritime security in...

Doha deadlock.
July 31, 2008... Doha deadlock IF THE world's leading economies, old and new, can't resolve their differences over tariffs and trade, what hope is there for them to find consensus on anything else? The collapse of the Doha round is unlikely to do much damage...

Keep it tight.
July 31, 2008... Keep it tight DEMAND for credit is clearly slowing. But is it slowing enough? Latest data from the Reserve Bank paint a mixed picture, but one that is more encouraging than the headline numbers might suggest. Private sector credit growth of...

Signs of another gold rush in the battle for Meeg Bank.
July 31, 2008... Byline: Renee Bonorchis Signs of another gold rush in the battle for Meeg Bank FOURTEEN years ago we had what we liked to call The New South Africa. Now we've got The New New South Africa. It's kind of like hosting a game show where...

Dynamic designs must keep moving with the times.
July 31, 2008... Byline: John Reed Dynamic designs must keep moving with the times Audi's cars are among the most coveted globally, but as its range expands it will have to find ways of retaining fans while attracting new buyers, writes STEFAN Sielaff,...

JAZZ.
July 31, 2008... Byline: Gwen Ansell JAZZ I WAS there when the Jo'burg jazz world first woke up to saxophonist Sydney Mnisi. It was a Monday night jam session at Sof'town in the early 1990s: a space where you might hear players from banal to brilliant. A...

ANC leaders' biggest task is to crack ethical whip.
July 31, 2008... Byline: Collette Schulz-Herzenberg VOTER ALIENATION/ ANC leaders' biggest task is to crack ethical whip AS SA prepares for its fourth national and provincial elections next year, it is vital that leaders embrace the politics of principle...

Taking the reins of SA back from ANC.
July 31, 2008... Byline: Rhoda Kadalie Taking the reins of SA back from ANC THE country is aghast at the vitriol emanating from Julius Malema and Zwelinzima Vavi, claiming their murderous loyalty to Jacob Zuma, and Gwede Mantashe, attacking the...

Failed gamble to scratch Doha's seven-year itch.
July 31, 2008... Byline: Alan Beattie Failed gamble to scratch Doha's seven-year itch ANOTHER summer, another failed ministerial meeting in the Doha round. Nine sweat-soaked days of late-night negotiations, swirling rumours, tempers lost and regained and...

To get the edge, Zuma has to move to the centre.
July 31, 2008... Byline: Xolela Mangcu To get the edge, Zuma has to move to the centre AFRICAN National Congress (ANC) president Jacob Zuma's comments last week that he would prefer one term as president of SA gave me hope we can get back on the path...

Zimbabwe talks 'to resume at weekend'.
July 31, 2008... Byline: Dumisani Muleya and Siseko Njobeni Zimbabwe talks 'to resume at weekend' Dumisani Muleya Harare Correspondent PRESIDENT Thabo Mbeki met Zimbabwean President Robert Mugabe and opposition leaders yesterday in a bid to secure a...

China 'dumps' kitchen sinks in SA.
July 31, 2008... Byline: Mathabo le Roux China 'dumps' kitchen sinks in SA Local manufacturer says imported products are sold below the price of stainless steel Trade and Industry Editor SA's International Trade Administration Commission (Itac) has begun...

Interest rates tipped to drop early next year.
July 31, 2008... Byline: Mariam Isa Interest rates tipped to drop early next year Lower oil price, stronger rand boost case for reduction Economics Editor LOCAL markets are betting that interest rates will start falling early next year, as lower oil...

Regulator warns of 'duplication' in energy bill.
July 31, 2008... Byline: Linda Ensor Regulator warns of 'duplication' in energy bill Political Correspondent CAPE TOWN Creating new institutions in the energy sector to undertake modelling and data collection would duplicate the work of the National...

Income disclosure worries for SARS.
July 31, 2008... Byline: Sanchia Temkin Income disclosure worries for SARS Professional Services Editor DISCLOSURE of incomes and other documentation still remain a major challenge for the South African Revenue Service (SARS) despite more than...

Zuma judge gets legal professionals' approval.
July 31, 2008... Byline: Franny Rabkin Zuma judge gets legal professionals' approval With his history of human rights orientated work, Judge Chris Nicholson 'cannot be seen as belonging to the past' Staff Writer IN 2006, KwaZulu-Natal Judge President...

Sasco tells students to 'take up arms'.
July 31, 2008... Byline: Sue Blaine Sasco tells students to 'take up arms' Education Correspondent THE South African Students' Congress (Sasco) has turned the recent trend towards war talk to racist attacks at SA's universities and universities of...

'Decision not to prosecute Zuma stands'.
July 31, 2008... Byline: Ernest Mabuza 'Decision not to prosecute Zuma stands' Papers outline court challenge Legal Affairs Correspondent AFRICAN National Congress (ANC) president Jacob Zuma maintains that the 2003 decision by then national director of...

Axed Madisha claims victimisation.
July 31, 2008... Byline: Amy Musgrave Axed Madisha claims victimisation Political Correspondent WILLIE Madisha, axed this week from the South African Democratic Teachers' Union (Sadtu), has vowed to fight on, saying he has been politically victimised by...

MPs query bill to intercept calls.
July 31, 2008... Byline: Wyndham Hartley MPs query bill to intercept calls Parliamentary Editor CAPE TOWN MPs across all parties yesterday expressed serious concern that changes to the Intelligence Services Amendment Bill could allow the interception of...

Reform stirs in the house of many queues.
July 31, 2008... Byline: Michael Bleby Reform stirs in the house of many queues Home affairs tackles false passports, cuts wait for IDs Writer at Large PEOPLE dread visiting the home affairs office. Pity, then, the staff who work there every day. The...

SA's confidence in readiness for 2010 dwindles.
July 31, 2008... Byline: Chantelle Benjamin SA's confidence in readiness for 2010 dwindles Optimism peaked in November last year Chief Reporter A NEW survey suggests that concern over a lack of support for Bafana Bafana by South Africans during the 2010...

Orlando upgrade 'on budget and on time'.
July 31, 2008... Byline: Sibongakonke Shoba Orlando upgrade 'on budget and on time' Staff Writer WHILE most 2010 Soccer World Cup stadium construction and upgrade projects in SA have overspent their budgets, training ground Orlando Stadium has kept...

Passport and ID? Hurry up and wait.
July 31, 2008... Byline: Michael Bleby Passport and ID? Hurry up and wait HOME Affairs' turnaround strategy includes making its offices more efficient and easier for members of the public to use it includes a call centre. I rang the call centre twice on...

UK gives SA a six-month deadline to clean up its travel papers act.
July 31, 2008... UK gives SA a six-month deadline to clean up its travel papers act SA IS one of 11 countries that have been given a six-month deadline to stem travel document abuse or lose their present visa-free entry to the UK. The others are Bolivia,...

US funds for African science.
July 31, 2008... Byline: Sue Blaine US funds for African science Carnegie grant for more PhDs Education Correspondent AFRICAN scientific and engineering research is to receive a $2,4m boost over the next 2l years in the form of a grant from New York's...

TAC in court bid over refugees.
July 31, 2008... Byline: Chris van Gass TAC in court bid over refugees Cape Correspondent CAPE TOWN An urgent high court application has been launched against the Western Cape government and the City of Cape Town to improve the living conditions in camps...

Scorpions go in spite of 'populism' ANC.
July 31, 2008... Byline: Wyndham Hartley Scorpions go in spite of 'populism' ANC Parliamentary Editor CAPE TOWN Despite vowing that Parliament would pass legislation to scrap the Scorpions, senior African National Congress (ANC) MPs yesterday rejected...

SECOND TAKE.
July 31, 2008... Byline: Financial Times AT LEAST one part of the Afghan economy is doing well. Unfortunately, it is the part that is involved in the illegal production of opium and related narcotics. Afghanistan now supplies more than 90% of the...

MADE IT: Registrar of Banks Errol Kruger.
July 31, 2008... Registrar of Banks Errol Kruger, for flagging bank directors' incentives as a concern at a time of global turmoil in the financial services sector. Better to nip it in the bud before it becomes a real problem.

OUT: Cape Judge President John Hlophe.
July 31, 2008... Cape Judge President John Hlophe. His shotgun approach to fighting the charges against him is not working so far, with the JSC refusing an application for the recusal of four members.

MAFE IT: Free State farmer Crawford von Abo.
July 31, 2008... Free State farmer Crawford von Abo, for holding the state to its responsibility to give diplomatic protection to citizens in foreign countries. The government's been found wanting on Zimbabwe yet again.

Bok camp hit with injuries for home leg.
July 31, 2008... Byline: Zeena Isaacs Bok camp hit with injuries for home leg As always it opens doors for others Rugby Correspondent THE Springbok management team's hopes of a smooth transition from their Tri-Nations tour to the exacting Test schedule...

Drotske fills gaps left by Bok call-up.
July 31, 2008... Byline: Zeena Isaacs Drotske fills gaps left by Bok call-up CHEETAHS coach Naka Drotske has turned to Springbok Sevens try machine Fabian Juries and hooker Richardt Strauss to fill the void left by the Springbok call-ups ahead of...

Pay hike for SA chartered accountants.
July 31, 2008... Byline: Sanchia Temkin Pay hike for SA chartered accountants New entrants enjoy 11%-15% boost Professional Services Editor THE average salary for newly qualified chartered accountants in SA has risen between 11% and 15% over the past...

Gold still sought in Wits Basin sites.
July 31, 2008... Byline: Charlotte Mathews Gold still sought in Wits Basin sites Resources Editor GOLD explorer Wits Gold will spend about R95m up to the end of December next year on advancing three projects at Bloemhoek, De Bron and Beisa North in the...

Meyer Diamonds wins reprieve ahead of court challenge.
July 31, 2008... Byline: Charlotte Mathews Meyer Diamonds wins reprieve ahead of court challenge MEYER diamonds, a diamond tender corporation in Johannesburg and Wolmaransstad, has won an interim victory in the Pretoria High Court to enable it to stay in...

Carbon tax should reward design.
July 31, 2008... Byline: Michael Smith Carbon tax should reward design Discussion on carbon tax proposals needs to take place with a clear understanding of the position of the synthetic fuels industry in relation to carbon dioxide emission (Carbon tax...

Tolerate refugees.
July 31, 2008... Byline: Cleopatra Mosana Tolerate refugees I must disagree with the statement in your editorial on refugees that what is needed is for the government to swallow its pride and allow international organisations such as the United Nations...

Illogically green.
July 31, 2008... Byline: Mike Atkins Illogically green Your editorial contains one logically fatal contradiction; it ignores the key omission in all climate warnings and then proceeds to the standard tyrannical dismissal of dissent (Going green, July...

Issue a race card.
July 31, 2008... Byline: Temba Vundla Issue a race card Mninawa Ntloko mentions the good turnouts at rugby and cricket matches and says these are sports that people feel they can safely take their families to watch unlike soccer events, except when the...

It's skill, not race.
July 31, 2008... Byline: Andy Dott It's skill, not race Mninawa Ntloko's column emphasises the very reason why our soccer is such a dismal failure all he is able to see is what colour the spectators are and whom they then support (Red Devils expose the...

New SA is a sham.
July 31, 2008... Byline: Sozabe Sishi New SA is a sham Former apartheid foreign affairs minister Pik Botha's comments that whites did not steal land from native Africans symbolise the mentality of many whites (Whites did not steal land from blacks, says...

Haven for thugs.
July 31, 2008... Byline: S Kaye Haven for thugs It seems that heads of state who double as murderers and thugs do talk to each other after all, and the main topic of conversation is: if you are in trouble the first port of call should be President Thabo...

The Piazza pulls in leading retailers.
July 31, 2008... Byline: Nick Wilson The Piazza pulls in leading retailers Property Editor ALTHOUGH retailers are struggling in an economic slowdown, there is strong demand for retail space at Melrose Arch's R2,27bn mixed-use node, The Piazza. Speaking...

Mittal barrels ahead despite power cuts.
July 31, 2008... Byline: Mathabo le Roux Mittal barrels ahead despite power cuts Earnings surge 45% as steel prices rocket 80% Trade and Industry Editor A SLOWDOWN in the domestic economy has done little to slow the pace of steel giant ArcelorMittal SA,...

Upgrades boost production at House of Monatic.
July 31, 2008... Byline: Mathabo Le Roux Upgrades boost production at House of Monatic Mathabo le Roux Trade and Industry Editor HOUSE of Monatic, a subsidiary of JSE-listed Brimstone Investment Corporation, will inject R3m to upgrade its shirt factory...

Cellphone marketing extends reach in SA.
July 31, 2008... Byline: Lesley Stones Cellphone marketing extends reach in SA Information Technology Editor MOBILE marketing agency Mybeat Interactive has outgrown its status as a target of venture capital support and has now become 40% owned by Shake...

Delta the tale of a possible recovery.
July 31, 2008... Byline: Ben Temkin PRIVATE INVESTOR/ Delta the tale of a possible recovery WHEN some years ago Jean and I published our own newsletter, one of its regular features was a column in which we argued about the pros and cons of shares,...

Some sectors hiring staff Kelly.
July 31, 2008... Byline: Thabang Mokopanele Some sectors hiring staff Kelly Tourism, building and mining are countering trend Trade and Industry Correspondent STAFFING company Kelly Group said yesterday that although the financial and retail sectors were...

Mondi profit drops 47%.
July 31, 2008... Byline: Thabang Mokopanele Mondi profit drops 47% Trade and Industry Correspondent GLOBAL paper and packaging group Mondi, which yesterday posted a 47% drop in first-half profit, said it expected to see improvements in the second half as...

SAB has 430-million bottles in its Calabash.
July 31, 2008... Byline: Thabang Mokopanele SAB has 430-million bottles in its Calabash After more than 45 years, brewer's 'quarts' get a new look that allows clearer brand identification Trade and Industry Correspondent SOUTH African Breweries' (SAB's)...

Toughest event so far.
July 31, 2008... Byline: CHARL WILKEN Toughest event so far Motor News contributor gives his account of a very difficult Volkswagen Rally MOTORSPORT COLUMN WOW, I expected the Volkswagen rally to be a tough event, but it ended up a lot tougher than even...

Deals of the week.
July 31, 2008... Deals of the week BUYING THIS week Motor News has spotted a few great finance deals to help you balance your budget. There are also some opportunities to get your hands on models that are reaching the end of their lifespan which creates a...

F1 to return to Kyalami.
July 31, 2008... Byline: MARK SMYTH F1 to return to Kyalami If all goes well, then the Formula 1 circus should return to Kyalami for the 2011 season, writes FORMULA 1 THERE have been rumours for many years now that F1 boss Bernie Ecclestone wanted to...

A new solution to combat insurance cancellations.
July 31, 2008... A new solution to combat insurance cancellations Finally insurance and finance companies can collaborate with a new solution from TransUnion INDUSTRY NEWS MOTOR NEWS REPORTER AS VEHICLE sales across SA continue in a spiral decline, the ripple...

ST spearheads arrival of new Ford Focus range.
July 31, 2008... ST spearheads arrival of new Ford Focus range Ford has chosen to introduce the new performance ST models ahead of the full Focus range NEW MODELS MOTOR NEWS REPORTER FORD will add some extra spice to the Focus ST model range with the...

Gauteng lends support to A1GP.
July 31, 2008... Gauteng lends support to A1GP The South African leg of the international A1GP series will be run at the Kyalami circuit from next year INTERNATIONAL MOTORSPORT MOTOR NEWS REPORTER A1GP World Cup of Motorsport has entered into a partnership...

A cut above the class.
July 31, 2008... A cut above the class The Mitsubishi Lancer is a gem in the C-segment and its new CVT gearbox adds further appeal NEW MODELS MOTOR NEWS REPORTER THE Mitsubishi Lancer 2.0 GLS sedan is now available with the option of a sophisticated...

High attrition rate at Sun City.
July 31, 2008... Byline: ROGER HOUGHTON High attrition rate at Sun City Punctures created the most drama at last weekend's Sun City 400 event, writes LOCAL MOTORSPORT TRAVELLING down the tar road towards Sun City you would be forgiven for thinking that...

Go-kart with attitude.
July 31, 2008... Byline: MARK SMYTH Go-kart with attitude The international launch of the Mini John Cooper Works introduced a new lifestyle attitude, writes INTERNATIONAL LAUNCH WHEN Alec Issigonis penned the first Mini, he stated that this is not a car...

MOTOR SPARES.
July 31, 2008... MOTOR SPARES Tata aims to revive the Daimler marque TATA Motors, which recently acquired Jaguar and Land Rover, plans to revive luxury car marque Daimler. The vehicle maker wants to transform Daimler into a super- luxury marque to compete...

Understanding the economy.
July 31, 2008... Byline: MOTOR NEWS REPORTER Understanding the economy You can now find out your car's economy and emission figures from the dealer or on a website INDUSTRY NEWS THIS month the South African automotive industry in conjunction with the...

For sporty executives.
July 31, 2008... Byline: Mark Smyth For sporty executives Last week, Motor News travelled to France for a preview of the sportier new BMW 7-Series INTERNATIONAL DRIVE THE BMW 7-Series has always been the pinnacle of the range for those who value...

A cut above the class.
July 31, 2008... Byline: MARK SMYTH Rich in power and comfort Renault has launched a pair of sporty limited editions for SA only, writes LAUNCH NEWS THE desire to own passionate cars is clearly not lacking in SA, as evidenced by the fact that our local...

Tiggo proves to be an honest contender.
July 31, 2008... Byline: LERATO MATEBESE Tiggo proves to be an honest contender Chery seems poised to be on top in the years ahead, writes ROAD TEST IN MY view humble beginnings are some of the best moments to savour before embarking on even greater...

Toyota's special treat for women.
July 31, 2008... Byline: TARYN DU PLESSIS Toyota's special treat for women Toyota took a group of women to KwaZulu-Natal to gain insight into vehicle safety, writes DRIVING IMPRESSION WOMEN's day arrived early for the ladies who were fortunate enough to...

A bakkie with a bold approach.
July 31, 2008... Byline: CHARL WILKEN A bakkie with a bold approach The Nissan Navara has a serious nature, as opposed to many softer bakkies on the market, says USED-CAR TEST THE Nissan Navara is one of the boldest bakkies in its segment and features...

BAKKIES & 4x4s.
July 31, 2008... BAKKIES & 4x4s CHEVROLET LUMINA UTE 6.0 V8 SS AT R359900 R8281 LUMINA UTE 6.0 V8 SS 6spd MT R359900 R8281 CITROEN BERLINGO 1.4i R125995 R2899 BERLINGO 1.9i D R135995 R3129 FIAT PALIO ESPRESSO VAN R79900 R1838 DOBLO CARGO 1.9 D R123500 R2842...

PASSENGER CARS.
July 31, 2008... PASSENGER CARS ALFA ROMEO 147 1.6 3-DOOR PROGRESSION R197000 R4533 147 1.6 5-DOOR PROGRESSION R206600 R4754 147 1.9 JTD 5-DOOR PROGRESSION R238000 R5476 147 2.0 3-DOOR DISTINCTIVE R220000 R5062 147 2.0 5-DOOR DISTINCTIVE R230000 R5292 159 1.9...

SUVs.
July 31, 2008... SUVs AUDI Q7 3.0TDI quattro Tiptronic R588500 Q7 3.6 FSI quattro Tiptronic R577500 Q7 4.2 FSI quattro Tiptronic R675000 Q7 4.2 TDI quattro Tiptronic R738500 R16993 BMW X3 2.0d R397000 R9135 X3 2.5i R446500 R10274 X3 2.5i STEPTRONIC R460600...

Fear and greed can skew decisions.
July 31, 2008... Byline: Lynn Carlisle Fear and greed can skew decisions INVESTOR emotions based on fear and greed can drive and exaggerate an investment cycle, says James Louw, head of implemented consulting at acsis. Removal of trustees' emotions...

Lump-sum tax a minefield.
July 31, 2008... Byline: Lynn Carlisle Lump-sum tax a minefield WHILE changes in taxing lump- sum withdrawals from retirement funds generated much excitement thanks to apparent increased tax-free allowances, on deeper investigation it appears that...

Danger of global inflation.
July 31, 2008... Byline: Lynn Carlisle Danger of global inflation JSE-LISTED company earnings, similar to their global peers, are at very high levels and are unlikely to be sustainable, which could affect the prices of listed equities, says Duncan Artus,...

Should savings be compulsory?
July 31, 2008... Byline: Lynn Carlisle Should savings be compulsory? Essential for the government to do more to ease the burden of retirement fund members IF THE government was to introduce refinements to current compulsory contribution and preservation...

Dangers of panic withdrawals.
July 31, 2008... Byline: Lynn Carlisle Dangers of panic withdrawals THE government's intention to reform social security benefits, including retirement funding, has resulted in a panic to cash in retirement savings. Rowan Burger, head of consulting...

Vigilance the watchword in stormy times.
July 31, 2008... Byline: Lynn Carlisle Vigilance the watchword in stormy times Tumbling world equity markets, including the JSE, took their toll on most funds, forcing many asset managers to go back to basics and act in terms of their investment...