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PAUL SNARES WESSA ACCOLADE
City businessman Duncan Paul with the WESSA award.

City businessman Duncan Paul walked away with the prestigious individual accolade at the WESSA (Wildlife and Environment Society of South Africa) Annual Awards at Cape Recife near Port Elizabeth on Saturday. Paul was recognised for his many years of support for the combatting of rhino poaching in the Hluhluwe iMfolozi Park. These measures included a K9 unit where tracker dogs have proved to be a valuable tool to fight wildlife crime. WESSA acknowledges his sustained track-record of promoting and securing environmental well-being. Other awards went to Mavuso Msimang (Gold Award), Friends of Blaauwberg Conservancy Area (Groups), eThekwini Municipality and Nampak (Corporates), and Atlegang Dikgang (youth).

   
   
PORT UPGRADE FOR POST PANAMAX VESSELS
Durban Container Terminal Pier 2 Berths 203 to 205 will be deepened and lengthened.

Transnet recently announced plans to deepen berths at the Durban Container Terminal to accommodate newer generation container vessels by 2023. The ZAR7 billion project would include the reconstruction, deepening and lengthening of berths 203 to 205 to provide safe docking capacity. A new quay wall will be constructed 50 metres seawards of the existing quay wall to provide sufficient water depth to allow for the simultaneous berthing of three 350-metre long Post Panamax Vessels. Construction is set to start next month.

   
   
 
     
  Today in History  
     
 

1862: The bloodiest single day of the American Civil War was the Battle of Antietam in Sharpsburg, Maryland when at least 4 000 soldiers on both sides died.

Cowboy hats off to one of the most recognisable exports from the US, on International Country Music Day.

 
     
  News worth knowing  
     
 

OVERSOLD RAND HEADING FOR A REBOUND

The Rand could be poised for a sharp recovery once the dust engulfing emerging markets clears, according to the head of Old Mutual Investment Group. Johann Els also said the market had overreacted to the recent GDP numbers, which showed that the SA economy had slipped into a recession for the first time in almost a decade. The Rand fell to a two-year low against the US Dollar last week, before regaining some of its losses. The volatility in the Rand has coincided with elevated international oil prices, leading some economists to believe that the SA Reserve Bank could raise interest rates when its monetary policy committee concludes its meeting on Thursday. But Els said emerging markets are unlikely to go into a full-blown crisis and their economies are in better shape than they got credit for, with a few exceptions. Turkey and Argentina’s currencies have recently been battered by emerging-market alarm and concern about the long-term economic health of the two countries. SA government bonds have also been strengthened, with the benchmark R186 last bid at 9.18%, from a recent 9.34% high. (BDLive)

 
 

RESERVE BANK LIKELY TO HOLD OFF RATE HIKE

Early indications are that economic activity remained weak heading into the third quarter of 2018 — a factor the Reserve Bank’s monetary policy committee will take into account as it weighs the feasibility of hiking interest rates this week. A slow start to Q3 2018 saw July’s mining output contracted 5.2% and the manufacturing and retail industries reported modest gains. Economists expect the Reserve Bank to cut its GDP growth forecast for this year from 1.2% to 0.6% or 0.7%. Economists have revised their forecasts for the first interest rate hike in months to later this year, rather than early next year. Yet given tepid growth, Reserve Bank governor Lesetja Kganyago is expected to keep the repo rate on hold on Thursday. (BDLive)

 
 

SARS SETS SIGHTS ON 300 000 COMPANIES

The South African Revenue Service aims to penalise as many as 300,000 companies for failing to submit corporate income tax returns, the City Press reported. SARS has missed its tax collection target already this year, while at the recent Nugent commission of inquiry into governance and administration at the tax body heard from National Treasury that the April VAT hike to 15%, which has put pressure on both consumers and producers, was partly blamed on the SARS’s inability to collect taxes under commissioner Tom Moyane. Acting SARS chief officer for business and individual tax, Fabian Murray said the errant corporates are known and we will be served with penalties.” Approximately 500 000 new companies were registered yearly, and “the vast majority yield nothing”, citing acting Sars commissioner Mark Kingon. (Business Tech)

 
 

AFRICAN NATIONS SLOW TO EMBRACE OPEN SKIES

The government has bemoaned the slow implementation of a decade-old continent-wide agreement to open up Africa’s skies for airlines. In 1999, African ministers responsible for civil aviation adopted the Yamoussoukro Decision, named after the Ivorian capital city in which it was agreed, committing signatory countries to deregulate air services and to promote competition within regional air markets. The decision to "open skies" in Africa would translate into greater options for travellers and lower fares. Africa is home to 15% of the world’s population but it accounts for just 3% of the global air service market. Transport minister Blade Nzimande said SA integrated the principles of the Yamoussoukro Decision in the National Civil Aviation Policy, which has since been approved by the cabinet. (BDLive)

 
 

SEPARATE LISTING GIVES INVESTEC WINGS

The proposed demerger and separate listing of Investec Asset Management (IAM) from the wider group could propel the business into the "super league" and in so doing unlock substantial value for shareholders, said outgoing Investec CEO Stephen Koseff, who described Friday’s announcement as being akin to "watching my daughter leave home". The announcement sent the share price of the banking group surging to its biggest intraday move in more than 10 years. After jumping as high as 13%, Investec closed 9.36% higher at ZAR103.30. (BDLive)

 
 

MOTHER CITY TOPS LONG-HAUL VALUE FOR BRITONS

Cape Town has deposed Tokyo as the best-value long-haul destination for British holidaymakers. Local price reductions and a weaker rand have made the Mother City 20% cheaper for Brits than it was a year ago‚ said Post Office Travel Money. Its study found UK visitors to Cape Town pay the equivalent of £30.33 (ZAR590) for a three-course evening meal for two with a bottle of house wine; £1.31 (ZAR25.50) for a cup of filter coffee; and £1.44 (ZAR28) for a bottle of local lager in a bar. The cost of a basket of 10 tourist staples was £51.48 (ZAR1 003)‚ compared with £192.47 (ZAR3 749) in the Seychelles‚ the most expensive destination of the 34 surveyed, followed by Abu Dhabi‚ Dubai and Barbados. (BDLive)

 
 

CLOUDS SWIRL AROUND MAY AHEAD OF BREXIT TALKS

Prime Minister Theresa May gave a steadfast defense of her plans for Britain’s departure from the European Union ahead of key talks this week, while admitting to feeling “irritated” at speculation building within her Conservative Party about a potential leadership challenge. European leaders gather in Austria on Wednesday to try to advance Brexit negotiations, which have been stalled over how to avoid a hard border with Ireland after Britain leaves the EU. The most ardent Brexiteers have called on her to drop her proposal - thrashed out with the Cabinet at her Chequers retreat in July - to secure a frictionless border by keeping Britain closely tied to EU trade rules. But a “chuck Chequers” movement is gathering momentum among euroskeptic Tories, and rumours continue to swirl about a formal attempt to oust May if she doesn’t back down. Former Foreign Secretary Boris Johnson, the favourite in surveys of Tory party members to be the next leader, has likened her Brexit approach to strapping on a suicide vest and handing Brussels the detonator.(Bloomberg)

 
 

AMAZON TO PROBE SELLING OF DATA

Amazon.com is conducting an investigation into employees that are said to offer sellers on its e-commerce program with an advantage by providing confidential internal data and other services in exchange for a fee. Employees are allegedly selling information on sales and searches to the independent merchants that operate on the site and providing a way to delete negative reviews, the Wall Street Journal reported yesterday. These practices may help sellers’ products appear higher in search results, bettering their chances of attracting customers. The newspaper cited brokers who act as intermediaries between employees and merchants, individuals who bought the services, and people familiar with the investigations. (Bloomberg)

 
     
  Advertorial  
     
   
 

DEPRESSION IN THE WORKPLACE


Depression in the South African workplace is increasing at an astronomical rate in every sector of the labour market. This trend is not unique to South Africa. Studies in the USA, UK, the EU and elsewhere reveal the same upward trajectory in the number of employees suffering from depression. Work related stress is the most commonly cited major contributing factor to depression, which is regarded as the second most debilitating illness for employees, after heart disease.

While there are no formal studies on this, anecdotal evidence (and common sense) suggests that magistrates and the legal representatives appearing before them have to deal with immensely stressful circumstances, and are therefore likely to be particularly vulnerable to post traumatic stress disorder, depression and even other mental illness. This is likely to be especially so for those who work in the criminal courts

To read more click here

 

Contact: Nicci Whitear – Labour Law Specialist - nicci@austensmith.co.za - 033 392 0500
191 Pietermaritz Street, Pietermaritzburg, www.austensmith.co.za

 
     
  events  
     
 
19 SEPTEMBER 2018
 
 

SMALL BUSINESS NETWORK

This is a network and forum for people who are serious about developing their small business.  It provides an opportunity to learn from each other, source new clients, and enjoy the company of others who are involved in a similar pursuit of development and prosperity.

TIPS & TOOLS “TO MAKE MANAGING STAFF SATISFYING”
Presenter: Donna Merrifield – Diverse Human Resources Pty Ltd

TIME: 16:30 
VENUE: Chamber House, Royal Showgrounds
COST : R50 for non-members

HOW WILL YOU BENEFIT? WHAT WILL BE COVERED IN THIS PRESENTATION
We are all human beings, with different personalities, abilities, view points, and dreams. But just about all business utilize a ‘resource’ that contributes to the success or failure of your business. How you as business owners or your supervisors/managers manage that ‘capital resource’ also contributes to the success or failure of any business.

Let’s go back to some basics, and share some KIST (Keep It Simple, Team) Tips and Tools to make managing staff satisfying. You will be taken through some Core Principles in managing staff, to empower you with knowledge, tips and processes, that if put in place, and consistently applied, will improve the bulk of frustrations experienced in managing employment relationships (The Human Capital Resource).

PROMOTE YOUR BUSINESS
If you would like to give a five-minute presentation on what your company has to offer please let us know. One person will be chosen and will be required to supply a lucky draw prize for the meeting.

 
   
     
  QUOTE  
     
 
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The world is changed by your example, not by your opinion.

Unknown

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