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Public service strike continues |
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Written by MBUYISI MGIBISA / Business Correspondent
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Monday, 23 August 2010 19:09 |
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About a million public servants workers are continuing with their indefinite, countrywide strike halting service delivery to millions of South Africans after the unions rejected the government's revised offer. "We have been patiently trying to persuade the employer to present a revised offer," the Congress of SA Trade Unions (Cosatu) and the Independent labour Caucus (ILC) have said in a joint statement. "The strike for public service unions will continue until such time that the employer accedes to the demands of the workers," the unions said.
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Last Updated on Monday, 23 August 2010 19:14 |
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BMF accuses media of double standards |
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Written by MBUYISI MGIBISA / Business Correspondent
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Monday, 23 August 2010 18:56 |
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The Black Management Forum (BMF) has accused some of the media and newsrooms of double standards when reporting on irregularities in public bodies. The crusader of black economic empowerment said it had noted with dismay reports by "some in the media" portraying a recent audit report on the Commission for Conciliation, Mediation and Arbitration (CCMA) as "as close to squeaky clean as is humanly possible". "The organisation has made emphatic its concern about the inconsistency of media reports in condemning irregularities in the public sector, thereby showing the inherent lack of objectivity and double standards in some newsrooms," the BMF said.
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Gabriel Davel to leave NCR |
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Written by MBUYISI MGIBISA / Business Correspondent
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Monday, 23 August 2010 18:26 |
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The National Credit Regulator (NCR) has embarked on a process to recruit a new Chief Executive Officer after it announced that the current CEO Gabriel Davel will be stepping down from his position from 01 January 2011. Davel has been at the helm of the NCR since it was started in 2006. He is credited for being a key contributor in the development of the National Credit Act (NCA) and its implementation. "I've enjoyed the challenges at the NCR and believe that it has made an important contribution in establishing a more equitable, fair and transparent credit market which has an important role to play in improving the livelihoods of all South Africans," said Davel.
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MTN subscriber base on the rise |
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Written by MBUYISI MGIBISA / Business Correspondent
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Monday, 23 August 2010 18:43 |
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Africa's biggest mobile phone operator MTN increased its subscriber base by 11,4% to 129,2-million despite that the group's revenue declined by 2.2 percent. It was a good operational performance for the six months ended June 30 2010 by the group with adjusted headline earnings per share up 20,6% to 438,6 cents. The group also declared an interim dividend of 151 cents per share. The group said it was cutting back on its acquisitions due to the absence of good acquisition targets and was giving back more money to its shareholders. MTN increased its data revenues by 46% to R2,9-billion compared with the same period last year.
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Last Updated on Monday, 23 August 2010 18:54 |
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Santam expects higher profits |
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Written by MBUYISI MGIBISA / Business Correspondent
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Wednesday, 18 August 2010 05:02 |
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Santam said it expects its half-year profit to soar by as much as 85 percent boosted by the strong performance in its underwriting business. The insurer group is the biggest property and casualty insurer in the country. The South African insurer said it estimates that its headline earnings per share for the six months to end-June would likely rise by 75 to 85 percent from 284 cents in the same period a year earlier.
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Last Updated on Wednesday, 18 August 2010 05:20 |
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