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- Be sure you know what you're doing if you cede a life policy
Be sure you understand all the implications before you cede a life policy as security for a loan, and be particularly aware of how the cession affects the nomination of beneficiaries to the policy. - Full value of ceded policies lost to widow
If you cede a life assurance policy with an investment value as security for a debt, be aware that the bank may not only call in that security if you die, but also if you cannot repay the debt. - Do your loved ones a big favour: draw up a will
This week we deal extensively with the problems of cessions of life assurance policies to provide security for loans. It is a complex issue and one that can become a great deal more complex if you do not have a will. - Thresholds for grants to rise
The asset and income thresholds for social grants will increase by between four and seven percent from April 1, when the social grant increases also take effect.
- State splurges on talkshops
The national department of transport has admitted to lavishing R76m on four conferences it hosted in recent years, including R12m for shuttling VIPs. - Banks: winners and losers
FirstRand and Standard Bank have emerged as clear-cut winners from their most recent reporting periods, with Nedbank proving a laggard and Absa drawing mixed views. - Gordhan slams Sarb shareholders
Finance Minister Pravin Gordhan has accused some SA Reserve Bank shareholders of trying to manipulate conditions for the banks liquidation for their own gain. - Metropolitan backers reap rewards
Insurance stalwart Metropolitan has upped its full-year dividend by 9%, saying the increase is indicative of an "improved operating outlook". - Pricier pipeline to hit drivers
The cost of Transnets new fuel pipeline linking Durban with Gauteng has risen by R2.7bn, which will push up petrol prices. - SA shifts nuclear focus
As hundreds of workers at the PBMR company look set to lose their jobs, government has apparently decided to focus on conventional technology for its nuclear programme. - SA-friendly Polo makes its bow
Volkswagen SA has launched a new entry-level car in line with industry goals of boosting local component content. - JSE bucks global trend
Bucking the international trend with little in the way of fresh news or economic data to provide direction for global markets, the JSE is firmer. - Sarb bank report out soon
The Reserve Bank will shortly release results of a study into the gap between the central banks main interest rate and prime lending costs, says the finance minister. - Strong improvement in trade
Trade conditions for February improved strongly, says the SA Chamber of Commerce and Industry.
- JSE reports rise in revenue
The Johannesburg Stock Exchange (JSE) Limited reported a rise in revenue late on Monday as it released its full year results for 2009. - Zuma means business with UK
President Jacob Zuma has pointed out to British parliamentarians that the number of businesspeople on his delegation was indicative of his administration's particular interest in heightening economic relations with the United Kingdom. - Business confidence improves in February
Business confidence improved in February, according to the Business Confidence Index (BCI) released by the SA Chamber of Commerce and Industry (Sacci) on Wednesday. - GDP data shows economy on the mend
Gross domestic product (GDP) figures for the fourth quarter of 2009, released on Tuesday, confirm the economy is on the mend, Nedbank Group economists have said. - Gordhan wins plaudits with safe budget
Finance Minister Pravin Gordhan won praise on Wednesday for a balanced, positive budget that held state spending on track without raising taxes. The new Treasury boss adjusted the growth forecast for 2010 to 2.3 percent of GDP, rising to 3.6 percent in 2012, but warned that South Africans would continue to feel the pinch of the recession as job creation lagged recovery. The optimistic tone saw the rand trading stronger minutes after the minister started delivering his maiden budget speech to the National Assembly. - Zuma says nationalisation not govt policy
Nationalisation of South Africa's mines and other economic sectors is not government policy, President Jacob Zuma said on Tuesday. - WWF welcomes Zumas stance on green jobs
The World Wide Fund for Nature (WWF) has come out in support of what it calls President Zuma’s “commitment to long-term energy planning and greening industrial policy” as outlined in the president’s State of the Nation address last Thursday. Morné du Plessis, CEO of WWF, says, “South Africa cannot achieve the bold and exemplary commitments it made under the Copenhagen Accord without the transformation of its domestic energy economy. This requires, firstly, integrated energy planning, taking into account electricity supply, liquid fuels, direct fuel use by industry and the demand-side sectors of the energy economy.” “Secondly, it demands a transformed institutional environment which allows for the participation of clean electricity suppliers in a market currently dominated by Eskom and coal.” - SAs unemployment rate stabilizes
South Africa's official unemployment rate edged lower in the fourth quarter of 2009, halting the massive job losses that had accompanied the first recession in nearly two decades. - SA best housing market over long-term
South Africa is the best performing housing market in the world over the longer-term, latest figures from British news magazine The Economist reveal. - PMI rises for sixth month in a row
The Kagiso Purchasing Managers Index (PMI) - which measures manufacturing activity - entered 2010 with a bang. - Govt, business to promote SA at Davos
Team South Africa - a partnership between the government and business - will use the World Economic Forum (WEF) in Davos to reassure global political and business leaders that it is ready to stage a successful 2010 Fifa World Cup, as well as position South Africa as the next big thing . The partnership also aims to drive dialogue on the African agenda and will be encouraging WEF delegates to look South for fresh solutions to a better world, by experiencing the magnitude of the country's trade and investment offerings. Represented in the partnership are the Presidency, IMC, Government Communication and Information Service, Business Leadership South Africa (BLSA), Discovery, Old Mutual, Absa, Telkom, Nedbank, MTN, Sasol, Investec, Transnet and First Rand. - Job losses in mining sector halted
The establishment of the Mining Industry Growth, Development and Employment Task Team (MIGDETT) has led to a mitigation of job losses in the mining industry from an initial estimated 100 000 to approximately 50 000. - Solid economic growth for SA in 2010?
Although likely to remain subdued in the opening months, there is a good chance that economic growth could be surprisingly solid, with South Africa ending 2010 with annual GDP growth of over 3%, predicts Old Mutual chief economist Rian le Roux. - SA corporate governance continues to improve
South African corporate governance practices are considered relatively mature compared to emerging market peers, says Fitch Ratings in a report published, but they remain underdeveloped by international market standards. - SA manufacturing sector recovering
South Africa's manufacturing industry is catching up with improved global conditions. That’s according to Kagiso’s head of fixed income, Andre Coetzee, after the purchasing managers index (PMI) increased for the fifth consecutive month.