Business News 22.9.2017 04:01 pm

Nigerian lawyer sues FirstRand for R1.3bn

The attorney said his legal action relates to unpaid bills for work he did for companies linked to FirstRand.

Prominent Nigerian attorney Victor Obaika, who owns a professional stock car racing team in the US, is taking South Africa’s FirstRand Group to court over a contractual dispute worth millions of US dollars.

Nigerian lawyer sues FirstRand for R1.3bn
Nigerian lawyer sues FirstRand for R1.3bn

Nigerian lawyer sues FirstRand for R1.3bn

The attorney said his legal action relates to unpaid bills for work he did for companies linked to FirstRand.

Gordhan meets KPMG
Business

Gordhan meets KPMG

Former finance minister calls on KPMG to be ‘frank with South Africans’.
Pick n Pay’s checkout: Cash or credit?
Business News

Pick n Pay’s checkout: Cash or credit?

Shoppers will be offered the option of paying for groceries on credit at Pick n Pay stores.
Outa moves to secure Gupta mines’ rehabilitation funds
Business News

Outa moves to secure Gupta mines’ rehabilitation funds

Outa’s chief operating officer says the organisation wants to stop the mines’ funds from disappearing.
Repo rate unchanged at 6.75 percent per annum
Business News

Repo rate unchanged at 6.75 percent per annum

The announcement came as a relief for consumers after the Sarb left the repo rate unchanged at seven percent per annum in May.
Sasol Inzalo: What went wrong?
Business News

Sasol Inzalo: What went wrong?

The BEE share scheme is going underwater, with its troubles stemming from the volatile oil price.
Enterprise development spending could be tax deductible
Business News

Enterprise development spending could be tax deductible

How using Section 12J vehicles could benefit local businesses.
Five changes to Discovery Vitality in 2018
Business News

Five changes to Discovery Vitality in 2018

The good news: points – earned and tiers – stay the same.
Asisa board appoints new chair and deputy chair
Business News

Asisa board appoints new chair and deputy chair

The position of chair was left vacant at the end of May this year following the resignation of Thabo Dloti as a result of his departure from Liberty.
Business Leadership SA welcomes KPMG leadership exit
Business News

Business Leadership SA welcomes KPMG leadership exit

Chief operating officer and country risk management partner stepped down. Five other senior partners of KPMG SA also decided to leave the firm.
African Bank buys back R2bn worth of bonds from domestic bondholders
Business News

African Bank buys back R2bn worth of bonds from domestic bondholders

This comes as the bank had offered to buy back up to R3.2bn of its rand denominated bonds issued under its JSE-listed DMTN programme earlier this month.
Gold, bitcoin and the dollar
Business News

Gold, bitcoin and the dollar

Connecting some scary dots in the undercurrent of market turmoil.
Relief, concern about revised expat tax proposal
Business

Relief, concern about revised expat tax proposal

Will mitigate worries, but employer cost, tax credit headaches could be significant.
NUM goes on strike at Exxaro
Business News

NUM goes on strike at Exxaro

The wage dispute between NUM and Exxaro dates back to April and has even gone through conciliation by CCMA where the parties failed to reach an agreement.
Nersa kicks off consultation for huge Eskom tariff increase
Business News

Nersa kicks off consultation for huge Eskom tariff increase

Power giant wants 19.9% more, 27.5% from municipalities.
A monopoly on corruption
Business

A monopoly on corruption

‘The Guptas wanted everything’.
Competition Commission prosecutes beef supplier and juice maker for dividing markets
Business News

Competition Commission prosecutes beef supplier and juice maker for dividing markets

The Commission says the companies agreed not to compete with each other in the processing of wet peels and citrus peel pulp used to produce livestock feed.
Sim Tshabalala as CEO: A decision four years too late!
Business News

Sim Tshabalala as CEO: A decision four years too late!

Standard Bank’s joint-chief executive structure was absurd from the start.
SAA cash crunch deepens
Business News

SAA cash crunch deepens

As suppliers have still not been paid.
Moody’s praises SA’s miners’ restructuring initiatives
Business News

Moody’s praises SA’s miners’ restructuring initiatives

The ratings agency says the restructuring of South African operations will be positive for the credit profiles of AngloGold Ashanti, which is on Baa3 positive rating.
Gigaba urges tax practitioners to help combat illicit financial flows
Business News

Gigaba urges tax practitioners to help combat illicit financial flows

He spoke strongly against corporates involved in illicit financial flows, saying that government would ensure that they pay their fair share of the taxes.
Retirement: How much is enough?
Business News

Retirement: How much is enough?

It may be time to approach the issue differently.
Missed the special voluntary disclosure deadline?
Business News

Missed the special voluntary disclosure deadline?

Normal regularisation progress could still be an option.

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