The DA’s spokesman on defence David Maynier accused Zuma of hiding in the Union Buildings”, while he should have been present in the House to account for the Guptagate fiasco. Finweek contributor Liesl Peyper reports.
In his ten years as the CEO of FNB, Michael Jordaan has turned the bank from underdog into the most innovative bank in the world. FNB announced the retirement of the formidable business leader, stating that Jordaan wanted to spend more time with his family. In addition to his inventive business practices, Jordaan also became the first CEO of a South African bank to join Twitter. It is therefore no surprise that he became a trending topic hours after FNB announced that he will step down at the end of the year. Here is how the twitterverse paid tribute to Jordaan.
South African financial markets have been rocked this morning by a 20% decline in the share price of African Bank Investments Limited (Abil). The banking group had fallen sharply after the release of interim financial results for the six months ended 31 March 2013. While various social media and news channels have been absorbed with the sharp decline in the Abil shareprice, the folks at ETM Analytics managed to pull together the attached graph showing just how unsecured lending had ballooned in South Africa over the last few years.
Global property has been a hot topic over the past couple of months. Interest in the asset class has not only been driven by stellar returns, but also by the attractiveness of global valuations relative to that of its local counterpart. In this article we will firstly look at the returns that the sector has produced over the past couple of years. Secondly, we will look at the attractiveness of local property vs. global property by looking at some valuations. And finally, we will look at some of the benefits of investing in global… [Read more]
Despite her history of not getting the job done, former Consumer Commissioner, Mamodupi Mohlala-Mulaudzi, has succeeded in being appointed in another post where she is supposed to protect consumers. Mohlala-Mulaudzi was appointed chairperson of the Gauteng Housing Rental Tribunal recently, despite the fact that she could not get the National Consumer Commission off the ground and various complaints about her way of dealing with matters at Icasa as pension funds adjudicator and at the Department of Communications.
Reports that the South African Government was sending a special delegation from South Africa to Boston, USA, following the deadly bombings that took place during the Boston Marathon on Monday, have been denied by Department of International Relations and Corporate Affairs.
Simon talks to Finweek editor Marc Ashton about “The business of religion”, this week’s cover story by by Mandy de Waal and Jonathan H. Pienaar. You can also expect information on understanding the M&A process, Brics – Africa, seasonality in the local market and how traders deal with it and the new Derivatives Market Default Fund. Bookends this week is “One Up On Wall Street” by Peter Lynch.
News and opinions about the Cyprus bailout deal and potential financial collapse have been thrown around the Internet like confetti this week, and it seems every analyst, anchor and citizen journalist is putting in their own two cents. For the best and most comprehensive information on the story, check out these links: