Business Day (South Africa) articles from May 2006

Business Day (South Africa) archives from May 2006

Credit growth takes a break.
May 31, 2006... (From Business Day (South Africa)) Byline: Ayanda Shezi Credit growth takes a break CREDIT growth slowed slightly last month. Consumers began to heed Reserve Bank governor Tito Mboweni's warnings about a possible interest rate...

The big lie.
May 31, 2006... (From Business Day (South Africa)) Byline: Michel Pireu The big lie There's a prevailing wisdom, a school of thought if you like, that says that if the CEO of a public company owns stock, his interests are aligned with those of the...

Consumers keep SA's growth hopes on track.
May 31, 2006... (From Business Day (South Africa)) Byline: Kevin O'Grady Consumers keep SA's growth hopes on track Economy strong in first quarter but key sectors still disappoint Economics Editor IN A welcome return to form, the pace of economic...

Africa, the fast-food outlet for rich European teams.
May 31, 2006... (From Business Day (South Africa)) Byline: Mninawa Ntloko Africa, the fast-food outlet for rich European teams FOR how long is this continent going to continue serving as something akin to a football fast-food outlet for the rich...

Whiff of scandal follows Italy.
May 31, 2006... (From Business Day (South Africa)) Byline: Mninawa Ntloko Whiff of scandal follows Italy THE Italians arrive at this World Cup accompanied by a scandal that may well undermine their chances of achieving anything in Germany. The...

Don't take Sweden lightly.
May 31, 2006... (From Business Day (South Africa)) Byline: Mninawa Ntloko Don't take Sweden lightly NO TEAM in its right mind would ever take Sweden lightly at a Soccer World Cup and this tournament should be no exception. The Swedes will be...

Derby's biggest mystery surrounds Fallon.
May 31, 2006... (From Business Day (South Africa)) Byline: David Mollett Derby's biggest mystery surrounds Fallon Punters wanting to know which of three horses the Irishman will be riding Racing Editor LONDON There is one question on every punter's...

Goldman chief to head US treasury.
May 31, 2006... (From Business Day (South Africa)) Goldman chief to head US treasury US PRESIDENT George Bush nominated Goldman Sachs CEO Henry Paulson yesterday to succeed John Snow as US treasury secretary. Paulson is the latest Goldman executive...

Credit growth slacks off as possible rate hike looms.
May 31, 2006... (From Business Day (South Africa)) Byline: Ayanda Shezi Credit growth slacks off as possible rate hike looms Consumers appear to have heeded Mboweni's warnings about debt load Economics Correspondent CREDIT growth slowed slightly...

State to sharpen focus of incentive schemes.
May 31, 2006... (From Business Day (South Africa)) Byline: Carli Lourens State to sharpen focus of incentive schemes Trade and Industry Editor GOVERNMENT is to replace four incentive schemes with more sector-specific ones, which will benefit areas...

Clarity at last on steel duty's removal.
May 31, 2006... (From Business Day (South Africa)) Byline: Carli Lourens Clarity at last on steel duty's removal Trade and Industry Editor GOVERNMENT finally scrapped the 5% import duty on steel and stainless steel yesterday, and also for the first...

Duty relief boosts demand for mortgages.
May 31, 2006... (From Business Day (South Africa)) Byline: Nick Wilson Duty relief boosts demand for mortgages Property Correspondent MORTGAGE advances by the financial sector increased 30,05% year on year last month, marking the highest growth to...

Big business throws weight behind Mbeki.
May 31, 2006... (From Business Day (South Africa)) Byline: Linda Ensor Big business throws weight behind Mbeki Political Correspondent CAPE TOWN Top South African business leaders gave President Thabo Mbeki a vote of confidence yesterday, saying SA...

SARS may write off irrecoverable debts.
May 31, 2006... (From Business Day (South Africa)) Byline: Linda Ensor SARS may write off irrecoverable debts Political Correspondent CAPE TOWN Draft regulations outlining circumstances in which the South African Revenue Service (SARS) could...

Mercenary bill and constitution clash.
May 31, 2006... (From Business Day (South Africa)) Byline: Wyndham Hartley Mercenary bill and constitution clash CAPE TOWN State law advisers have been asked to decide whether the controversial new antimercenary bill is in conflict with the...

Justice committee roasts cell companies.
May 31, 2006... (From Business Day (South Africa)) Byline: Wyndham Hartley Justice committee roasts cell companies Get your act together so we can fight crime effectively, cellphone bosses told Parliamentary Editor CAPE TOWN SA's three cellphone...

UNAIDS revises HIV/AIDS figure for SA to 5,5-million.
May 31, 2006... (From Business Day (South Africa)) Byline: Tina Peng UNAIDS revises HIV/AIDS figure for SA to 5,5-million UNAIDS, the United Nations agency tackling HIV/AIDS, released its latest figures on the global epidemic yesterday, revising...

Small-scale landlords offer promising housing solution.
May 31, 2006... (From Business Day (South Africa)) Byline: Chantelle Benjamin Small-scale landlords offer promising housing solution Sector provides accommodation faster than state Johannesburg Metro Editor SMALL-scale landlords are generating an...

Police seize North West chief's assets.
May 31, 2006... (From Business Day (South Africa)) Byline: Ernest Mabuza Police seize North West chief's assets Legal Affairs Correspondent POLICE and the National Prosecuting Authority's (NPA's) asset-forfeiture unit yesterday seized assets...

Judge refuses former Cape city boss leave to appeal.
May 31, 2006... (From Business Day (South Africa)) Byline: Chris van Gass Judge refuses former Cape city boss leave to appeal Cape Correspondent CAPE TOWN Former Cape Town city manager Wallace Mgoqi suffered a setback in his legal battle with the...

Cape Town drops 30% BEE proviso for city business.
May 31, 2006... (From Business Day (South Africa)) Byline: Chris van Gass Cape Town drops 30% BEE proviso for city business Cape Correspondent CAPE TOWN The city's mayoral committee yesterday overturned an unconstitutional decision by the former...

Watchdog warns on smoothed bonus funds.
May 31, 2006... (From Business Day (South Africa)) Byline: Stephen Gunnion Watchdog warns on smoothed bonus funds Financial Services Editor INADEQUATE disclosure has led to another ruling against a life company by the pension fund adjudicator, in a...

Taxi conversion going well, says Radebe.
May 31, 2006... (From Business Day (South Africa)) Byline: Linda Ensor Taxi conversion going well, says Radebe Political Correspondent CAPE TOWN At least 85% of taxi operators had applied for the conversion of their permits into operating licences...

Corpcapital, AIN, Frangos, settle.
May 31, 2006... (From Business Day (South Africa)) Byline: Ernest Mabuza Corpcapital, AIN, Frangos, settle Legal Affairs Correspondent A CHAPTER in the acrimonious saga of Nic Frangos and his former company, Corpcapital, came to an end yesterday...

PIT STOP.
May 31, 2006... (From Business Day (South Africa)) Byline: Judy Green THE introduction of audit partner rotation is set to be a certainty in SA after many years of debate. It is quite a novel concept here, but has existed in other jurisdictions for...

Vodacom shines as Vodafone takes fall.
May 31, 2006... (From Business Day (South Africa)) Byline: Lesley Stones Vodacom shines as Vodafone takes fall SUBSCRIBER growth of 52% has seen Vodacom rake in revenue of R34bn over the past year and retain R5,1bn of that as after-tax profit,...

All Joy turns loss into profit after costly failure.
May 31, 2006... (From Business Day (South Africa)) Byline: Edward West All Joy turns loss into profit after costly failure KwaZulu-Natal Correspondent DURBAN All Joy Foods' share price rose as much as 20%, to 60c, yesterday in intraday trade after...

Rich now buying flats for domestic employees.
May 31, 2006... (From Business Day (South Africa)) Byline: Nick Wilson Rich now buying flats for domestic employees JOHANNESBURG's rich never a group to inconvenience themselves are starting to buy flats for their domestic workers so that they can...

Dorbyl directors to benefit from Alpine sale proceeds.
May 31, 2006... (From Business Day (South Africa)) Byline: Siseko Njobeni Dorbyl directors to benefit from Alpine sale proceeds Trade and Industry Correspondent INDUSTRIAL group Dorbyl's directors were in for a R50m windfall from the proceeds of...

Johannesburg plans ambitious fashion district for east side of city.
May 31, 2006... (From Business Day (South Africa)) Byline: Nick Wilson Johannesburg plans ambitious fashion district for east side of city Area includes 26 city blocks Property Correspondent A LARGE fashion district, which could see private-sector...

Gold Fields attracted to platinum.
May 31, 2006... (From Business Day (South Africa)) Byline: Charlotte Mathews Gold Fields attracted to platinum CEO Cockerill tells analysts company strategy is to aim for a balanced, diversified portfolio Resources Editor GOLD producer Gold Fields...

Mines will sell pumped water.
May 31, 2006... (From Business Day (South Africa)) Byline: Charlotte Mathews Mines will sell pumped water THE gold mining companies operating in the Klerksdorp-Orkney area, which have had to pay for pumping water out of other, disused, mines in the...

New simplified holding structure lifts Howden.
May 31, 2006... (From Business Day (South Africa)) Byline: Carli Lourens New simplified holding structure lifts Howden Trade and Industry Editor HOWDEN Africa Holdings' share price increased as much as 20% yesterday after the industrial group had...

KwaZulu factory space at a price.
May 31, 2006... (From Business Day (South Africa)) Byline: Business Day Reporter KwaZulu factory space at a price MUCH-needed industrial space is at last coming onto KwaZulu-Natal's market, but prices are skyrocketing in line with national trends,...

IN BRIEF - PROPERTY.
May 31, 2006... (From Business Day (South Africa)) Byline: Nick Wilson Jawitz pleased with 'steady' selling of Leloko development at Hartbeespoort PHASE two of the R3bn Leloko development on the northern side of Hartbeespoort Dam was launched...

Dwyer blames overtraining, not playing.
May 31, 2006... (From Business Day (South Africa)) Byline: Zeena Isaacs Dwyer blames overtraining, not playing Marshall feels Test jersey is devalued Rugby Correspondent FORMER Australian 1991 Rugby World Cup-winning coach Bob Dwyer has fuelled the...

Enhanced research is key Sapoa chief.
May 31, 2006... (From Business Day (South Africa)) Byline: Nick Wilson Enhanced research is key Sapoa chief ALEX Phakathi, the newly elected president of commercial property association Sapoa, says the organisation must enhance its research...

Sasol underrated by Merrill Lynch's reckoning.
May 31, 2006... (From Business Day (South Africa)) Byline: Carli Lourens Sasol underrated by Merrill Lynch's reckoning THE opening of Sasol's first foreign gas-to-liquids plant in Qatar next week would boost the company's share price, which has...

Smoothed bonus products tested.
May 31, 2006... (From Business Day (South Africa)) Byline: Stephen Gunnion Smoothed bonus products tested Financial Services Editor INADEQUATE disclosure has led to another ruling against a life company by the pension fund adjudicator. The move...

Metboard posts solid distribution growth.
May 31, 2006... (From Business Day (South Africa)) Byline: Nick Wilson Metboard posts solid distribution growth Property Correspondent METBOARD Properties, a listed property loan stock company with an industrial focus, yesterday reported solid...

Stadiums must meet strict safety criteria.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Stadiums must meet strict safety criteria New legislation in wake of disasters, writes WITH the countdown to the 2010 Soccer World Cup now under way in earnest, facilities...

Partnership bids often take time and money.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Partnership bids often take time and money ONE of the issues in public/private partnerships (PPPs) is that the entire bidding process can be extremely timeconsuming and time...

Need to cut costs, improve quality.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Need to cut costs, improve quality Corporations seek a one-stop outsourcing solution SOUTH African companies are under enormous pressure to lower their variable costs, increase...

Five-star working environment.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Five-star working environment THE facilities management industry has expanded its offering from traditional building management to meeting the increasingly sophisticated...

Soaring markets boost Peregrine.
May 31, 2006... (From Business Day (South Africa)) Byline: Stephen Gunnion Soaring markets boost Peregrine Financial Services Editor WEALTH- and asset-management group Peregrine more than doubled profit last year as soaring stock markets and a large...

SA's Vodacom is Vodafone's shining star.
May 31, 2006... (From Business Day (South Africa)) Byline: Lesley Stones SA's Vodacom is Vodafone's shining star SA group boasts 52% subscriber growth Information Technology Editor SUBSCRIBER growth of 52% has seen Vodacom rake in revenue of R34bn...

Discipline has grown in scope and stature.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Discipline has grown in scope and stature FACILITIES management has evolved over a number of years to become a multidisciplinary function incorporating and integrating a number...

Nimble, smaller players in the running for niche deals.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Nimble, smaller players in the running for niche deals PUBLIC-private partnerships (PPPs) have been identified as one of the major growth areas in facilities management, even...

Market is likely to see a degree of consolidation.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Market is likely to see a degree of consolidation THERE is likely to be a degree of consolidation in the facilities management industry, with major players offering integrated...

Outsourcing gaining ground.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Outsourcing gaining ground Strong demand for innovative tenders THE trend towards outsourcing in facilities management in the past 12 months is seen to be partly driven by the...

Skills shortage can delay contracts.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson Skills shortage can delay contracts THERE is a shortage of highly skilled and experienced facilities management advisers in SA, which becomes evident when transaction advisers...

In-house facilities functions miss out on industry advances.
May 31, 2006... (From Business Day (South Africa)) Byline: David Jackson In-house facilities functions miss out on industry advances MAJOR international companies are said to be embracing the growing trend to outsourcing that is firmly entrenched in...

Respectable growth.
May 31, 2006... (From Business Day (South Africa)) Respectable growth DEPENDING on which way you look at it, SA's economic growth rate either accelerated or slowed in the first quarter of this year. On a quarter-to-quarter basis, the latest gross...

Reinventing Sasol.
May 31, 2006... (From Business Day (South Africa)) Reinventing Sasol IT IS amazing what an attitude adjustment can achieve. A matter of months ago, Sasol was under fire from all quarters except that occupied by its shareholders, who were understandably...

THEATRE.
May 31, 2006... (From Business Day (South Africa)) Byline: Mary Jordan THEATRE IF YOU were to write one full sentence to describe yourself and your lifetime achievements, to be your epitaph, what words would you choose? For Anthony Farmer, who died...

Rica will wreak havoc on SA's poor.
May 31, 2006... (From Business Day (South Africa)) Byline: Alan Knott-Craig Rica will wreak havoc on SA's poor FOLLOWING yesterday's presentation to Parliament on the implementation of the proposed new Rica Act (Regulation of Interception of...

Arrested development in Mugabe's one-party state.
May 31, 2006... (From Business Day (South Africa)) Byline: Dumisani Muleya Arrested development in Mugabe's one-party state ONE of the most disturbing things about Zimbabwe apart, of course, from its dramatic political and economic crisis has been...

A losing game: some striking figures.
May 31, 2006... (From Business Day (South Africa)) Byline: Dawie Roudt SECURITY INDUSTRY STRIKE/Dawie Roodt A losing game: some striking figures SA HAS been experiencing a security industry-related strike for the past two months. The essence of the...

MADE IT: National director of public prosecutions Vusi Pikoli.
May 31, 2006... (From Business Day (South Africa)) National director of public prosecutions Vusi Pikoli, who is forging ahead with the Travelgate case despite fierce political pressure. Charging sitting MPs takes guts, make no mistake.

Rough weather looms for smoothed bonus products.
May 31, 2006... (From Business Day (South Africa)) Byline: Lindsay Williams Rough weather looms for smoothed bonus products THE Pension Funds Adjudicator has issued another landmark ruling this time concerning the operation of a smoothed bonus...

Peregrine boss unafraid of flying into the wind.
May 31, 2006... (From Business Day (South Africa)) Peregrine boss unafraid of flying into the wind RAMPANT markets last year played no small part in Peregrine's results for the year to March, with the wealth and asset manager growing net profit 135%....

Keeping focus.
May 31, 2006... (From Business Day (South Africa)) Keeping focus AFEW of Metboard Properties' unitholders were unhappy about the takeover of the company by sister company Growthpoint Properties, the largest JSE-listed property company. Their concerns...

Fast frontier.
May 31, 2006... (From Business Day (South Africa)) Byline: Stephen Gunnion Fast frontier RESTAURANT chain Famous Brands' 38% increase in headline earnings a share to 83,5c was in line with expectations and it should benefit from another year of...

ANC's pain offers our democracy an opportunity to grow stronger.
May 31, 2006... (From Business Day (South Africa)) Byline: Steven Friedman ANC's pain offers our democracy an opportunity to grow stronger IF WE are to grow and become stronger, we sometimes need to bleed. As the crisis in the governing party...

Role model or busybody: what does SA have to teach the world?
May 31, 2006... (From Business Day (South Africa)) Byline: Khehla Shubane vs RW Johnson Role model or busybody: what does SA have to teach the world? How much sway does SA have in international affairs? President Thabo Mbeki has been vocal recently...

FACE OFF.
May 31, 2006... (From Business Day (South Africa)) Byline: RW Johnson KHEHLA SA can continue to punch above its weight for several reasons. With 54 African countries, other major powers inevitably look for an African leader-nation to help corral all...

FACE OFF.
May 31, 2006... (From Business Day (South Africa)) Byline: Khehla Shubane BILL Indeed SA has its own problems. I do not know what Mbeki has to do to show he does not support current developments in Zimbabwe. If condemnation of the political...

FACE OFF.
May 31, 2006... (From Business Day (South Africa)) Byline: RW Johnson DEAR KHEHLA I find your view romantic, but fact-free. In the real world many wars of freedom get crushed, and outside intervention is the only hope: think of the Allies liberating...

FACE OFF.
May 31, 2006... (From Business Day (South Africa)) Byline: Khehla Shubane DEAR BILL A portrayal of Zimbabweans as helpless and desperate for SA to rescue them is not a view I share. Any help from outside that country should support a clear lead...

Time for a new African story to be told.
May 31, 2006... (From Business Day (South Africa)) Byline: Marcus Courage and Rob Watkinson ECONOMIC PERCEPTIONS/ Time for a new African story to be told AVERAGE economic growth of more than 5% and a 60% increase in flows of foreign direct...

OUT: Public Service Minister Geraldine Fraser-Moleketi.
May 31, 2006... (From Business Day (South Africa)) Public Service Minister Geraldine Fraser-Moleketi. Launching a probe of apartheid-era corruption 12 years after it ended smacks of an attempt to divert attention from current scandals.

MADE IT: Saru president Oregan Hoskins.
May 31, 2006... (From Business Day (South Africa)) Saru president Oregan Hoskins. His most important role is to protect the Springbok coach from politicians who care nothing for rugby, and he did a pretty good job this week.

Forgive or forget.
May 31, 2006... (From Business Day (South Africa)) Byline: Trevor Kekana Forgive or forget Vuyo Mvoko's column, Black thinkers play a timid game, avoiding issues of self-definition (May 29), refers. Mvoko has made it a weekly habit to bore me every...

Judging by the editor's response.
May 31, 2006... (From Business Day (South Africa)) Byline: Don Lindsay Judging by the editor's response, it looks like Joel Pollak struck a nerve with Peter Bruce in his letter, Name or Shame (May 30). I do not, myself, altogether agree with...

DA balderdash.
May 31, 2006... (From Business Day (South Africa)) Byline: Herman Lategan DA balderdash I have never read such piffle as the missive by Joel Pollack, Name or shame (May 30). That he can defend a pro-Democratic Alliance (DA) letter written to the...

Lies and the liars who tell them.
May 31, 2006... (From Business Day (South Africa)) Byline: Ronald Suresh Roberts Lies and the liars who tell them In alleging that the Democratic Alliance (DA) does not lie, DA employee Joel Pollak lies yet again in his letter, Name or shame (May...

I refer to the excellent article.
May 31, 2006... (From Business Day (South Africa)) Byline: Malcolm Mitchell I refer to the excellent article by Prof Don Ross, A route of optimism and vigilance (May 29), on the condition of the South African road network, in response I think, to a...

A mass factor.
May 31, 2006... (From Business Day (South Africa)) Byline: Andre Heydenrych A mass factor In the article, State of SA's Roads (May 20) by Don Ross, Dr Malcolm Mitchell quotes a figure of R43bn which the road user purportedly pays as a fee to use the...

Reporting error.
May 31, 2006... (From Business Day (South Africa)) Byline: Michael Pimstein Reporting error The article, Miners moot new ways to cut Mittal prices (May 19), contained a serious factual error in referring to steel merchant Macsteel, which is partly...

Preaching governance across the world.
May 31, 2006... (From Business Day (South Africa)) Byline: Michael Bleby Preaching governance across the world Openness a key step to profitability, Phillip Armstrong tells ON MEMORIAL Day, the US public holiday to remember fallen soldiers, Phillip...

Read this sceptic.
May 31, 2006... (From Business Day (South Africa)) Byline: Clive Sindelman Read this sceptic Newspaper columns have been filled recently with letters by intellectuals doing what they do best, throwing handbags at each other. It is tough being an...

Vitriolic attack.
May 31, 2006... (From Business Day (South Africa)) Byline: Gaynor Kast Vitriolic attack The Thick End of the Wedge (May 29) cannot go by unchallenged. Your attack on Public Enterprises Minister Alec Erwin is most disconcerting and totally...

Middle class's discerning palate makes Famous Brands glow.
May 30, 2006... (From Business Day (South Africa)) Byline: Lindsay Williams Middle class's discerning palate makes Famous Brands glow FAMOUS Brands turnover has gone up 44% to a record R670m for the year to the end of February. Headline earnings a...

ANC puts brave face on Zuma succession crisis.
May 30, 2006... (From Business Day (South Africa)) Byline: Vukani Mde and Karima Brown ANC puts brave face on Zuma succession crisis Top party body slaps down allies' criticisms of Mbeki's style THE succession battle tearing the African National...