Blackberry second quarter net loss

​​Blackberry second quarter net loss of $965m (£600m) following a slump in sales.The company warned investors last week that it would report a loss of up to a billion dollars, due to poor sales of its new smartphones. It also announced 4,500 job cuts...

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E Toll Bill Officially Signed

President Jacob Zuma has insulted South Africans today by signing the Transport Laws and Related Matters Amendment Bill (e-tolls Bill) into law on the very day e-tolling is before the Supreme Court of Appeal (SCA). The President has had the Bill...

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MTN Bids for Myanmar service provider tender

MTN today submitted an application to the Telecommunications Operator Tender Evaluation and Selection Committee of the Government of the Republic of the Union of Myanmar, thus formally entering competition for award of a telecommunications licence in...

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e toll gazette discussion gets attention

E toll gate PUBLIC consultations on gazetted terms and tariffs for Gauteng’s freeway e-tolling continued on Wednesday in Pretoria, attended by more people than the meeting held in Kempton Park the day before but with similar contempt displayed for...

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Status of SA Economy

The South African economy has recently taken a major blow due to a much-reported epidemic of labour disputes in the mining industry. Approximately 50,000 mine workers have gone on strike across companies, with violent clashes leading to injuries and...

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SARS tax revenue forecast latest

South Africa grew its tax revenue by R68.5-billion in 2011/12 to total R742.6-billion, R3.9-billion more than forecast by Finance Minister Pravin Gordhan in his 2012/13 Budget, the SA Revenue Service (Sars) reports. SA Tax Payer Releasing its 2012...

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Saving money the compound interest advantage

Cape Town - You've probably heard the term before: compound interest. But do you really understand how this works? Compound interest is what allows a very average saver to become a wealthy individual. What's the secret? The value of compound interest...

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Risks of unsecured loans

Unsecured lending and bank charges were discussed at a meeting between Finance Minister Pravin Gordhan and the country's bank chiefs yesterday. But these controversial issues were played down in a statement from the ministry that started on an upbeat note. "The theme of the meeting was the role of banks in South African society, highlighting the positive role banks could play in meeting the country's...

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South Africa Tax Season Returns Stats

More than a million tax returns have been submitted since the start of tax season on July 1, the SA Revenue Service (Sars) said on Monday. It had received a record number of 1,001,162 income tax returns for the 2012 tax season by 7.30am on Monday,...

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SANRAL withdraws E-toll regulations

by LOUISE FLANAGAN ANOTHER set of e-toll regulations has been withdrawn. The regulation notice on how e-tolls were to be paid for by the Gauteng Freeway Improvement Project was withdrawn this week with immediate effect by the SA National Roads Agency...

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Budget Speech 2012 what to hope for

Finance minister Pravin Gordhan faces a stern test of his mettle on Wednesday when he delivers his 2012 budget in Parliament. Not only will Gordhan have to balance the books in uncertain global economic times, but he will also need to find funds for...

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Department of Health on NHI issues in SA

Cape Town - The Department of Health has embarked on a massive audit of clinics and hospitals in preparation for the implementation of the National Health Insurance (NHI), the Minister of Health Aaron Motsoaledi said today. Briefing media in Parliament...

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South africa Insurance ombudsman troubles

The decision at the end of last year not to renew the contract of Brian Martin as the Ombudsman for Short-term Insurance (Osti) and to appoint Dennis Jooste in his stead may be invalid.But the three-year term of the body that must consider the issue, the Financial Services Ombud Schemes (FSOS) Council, ended on December 31 last year, and a new council has yet to be appointed by the Minister of Finance.The...

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South Africa house prices decrease

Johannesburg - The average price of a mid-segment house was almost 14% lower in November last year than it was in August 2007, according to Absa's latest property price indices released on Thursday.  "The average real price of middle-segment houses,...

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IMF manager gives SA thumbs up

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today in Pretoria: "It is a great pleasure to be in South Africa for my first visit as Managing Director of the IMF. I had the privilege...

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wealth creation tips for retirement income

General tips for wealth creation NB not fool proof. Wealth creation is extremely difficult (if not impossible) with the traditional ‘save for retirement formula’. The personal savings strategy has passed its sell by date to say the least, and yet it...

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Eskom signs a huge loan to go green

Eskom has signed a US250 million (about R1.9 billion) loan that will finance the building of South Africa's largest solar energy and wind power generation projects. Signing the guarantee, Finance Minister Pravin Gordhan said South Africa had "a huge...

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South African GDP forecast cut by treasury

CAPE TOWN Oct 25 (Reuters) - South Africa's National Treasury on Tuesday cut its 2011 economic growth forecast to 3.1 percent, rising to 3.4 next year and said this depended on global prospects and was not enough to reduce unemployment and poverty in...

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