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By fstimes On 17 Nov, 2013 At 05:13 PM | Categorized As Business | With 0 Comments
photo: Sven Torfinn  South Africa, Johannesburg, April 2009  Miners in mine, recently reopened, mainly because of the high gold price in response to global economic crisis.  foto: Sven Torfinn Zuid Afrika, Johannesburg, April 2009 Mijnwerkers in goudmijn

 Johannesburg THE Association of Mineworkers and Construction Unions (Amcu) has lowered its wage demands at Impala Platinum, bringing it closer to resolving weeks of deadlock that had been threatening a strike at the world’s No.2 platinum producer. Amcu’s softening of its stance holds hope that strike threats at the three largest platinum producers in South […]

By fstimes On 17 Nov, 2013 At 05:08 PM | Categorized As Business | With 0 Comments
motor strikes slow down economy

Johannesburg SOUTH Africa’s economy is slowing following strikes in the motor industry, according to the BankservAfrica Economic Transaction Index. The BankservAfrica Economic Transaction Index (Beti) says the motor industry strike has put the economy in decline. “The overall trend in the Beti over the last few months seems to indicate that economic growth is slowing […]

By fstimes On 17 Nov, 2013 At 05:17 PM | Categorized As Business | With 0 Comments
sa retail sales dawdle

Johannesburg SOUTH African retails sales grew at a sluggish 0.2 percent in September compared with the same month last year, after expanding by a revised 3.2 percent in August, Statistics South Africa said on Wednesday. Economists were expecting sales growth of 2.5 percent. Chief economist at Stanlib Kevin Lings said this is the lowest annual rate […]

By fstimes On 17 Nov, 2013 At 03:29 PM | Categorized As Business, Columns, Local | With 0 Comments
cees

Cees Bruggemans THERE can be no misreading the South African residential building cycle where the building plans passed of dwelling square metres have hardly lifted these past five years after hitting recessionary rock bottom by late 2008. The new national credit Act had come into effect in mid-2007, SA banks had been shocked by revelations […]

By fstimes On 11 Nov, 2013 At 08:24 AM | Categorized As Business | With 0 Comments
state battles bbbee fronting

Martin Makoni, Bloemfontein FREE State finance MEC Elzabe Rockman says the provincial government is faced by an overwhelming battle against Broad-Based Black Economic Empowerment (BBBEE) fronting whereby qualifying persons are given a seat on the board of directors of a company but have no decision-making powers in the company. This is mostly done by companies seeking […]

By fstimes On 11 Nov, 2013 At 08:35 AM | Categorized As Business | With 0 Comments
SARS1

Pretoria THE South African Revenue Service (Sars) confirmed the arrest yesterday of seven customs officials on suspicion of involvement in incidents of robbery and extortion against businesses owned by foreign nationals in Johannesburg. Two members of the South African Police Service (Saps) were also arrested yesterday in relation to the same investigation. Two other Saps […]

By fstimes On 11 Nov, 2013 At 08:51 AM | Categorized As Business | With 0 Comments
money

Johannesburg SOUTH Africans must spend money wisely over the festive season and save for next year, the South African Savings Institute (Sasi) said on Wednesday. “South Africans spend more than they earn throughout the year, and this is compounded over the festive season when we are inundated by marketing and tempted by material goods we […]

By fstimes On 11 Nov, 2013 At 08:00 AM | Categorized As Business | With 0 Comments
cees

Cees Bruggemans A NORMAL economy proceeds steadily at its design speed, something we know as full potential, at which its employable labour, deployable capital and physical capacities are fully utilised, its creative juices are happily running and its institutional fabric can accommodate it all within its design limitations. A shock event may cause diversion, create […]

By fstimes On 4 Nov, 2013 At 10:22 AM | Categorized As Business | With 0 Comments
sibanye profit clims 10perce...

Johannesburg SIBANYE Gold, the South African miner spun off by Gold Fields this year, said third-quarter earnings increased 10 percent as production rose and costs fell. Operating profit was R2-billion in the three months to September 30, compared with R1.8-billion in the previous quarter, the Westonaria-based company said in a statement. Production rose 8.6 percent […]

By fstimes On 4 Nov, 2013 At 10:40 AM | Categorized As Business | With 0 Comments
massmart caves in to shoprite

Cape Town SHOPRITE has won the latest round in its case against Mass Stores about the former’s exclusive rights to sell certain products in the Cape Gate Shopping Centre in Cape Town. Shoprite obtained an interim interdict against Mass Stores in the Western Cape High Court last week. The interdict prohibited and restrained Mass Stores, […]