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Today's issues
June 30, 2010
All eyes on environmentally sustainable design
Thabang Mokopanele
Business Day
With global warming a constant threat, environmentally sustainable design will be a vital topic at the third annual Green Building Council of SA (GBCSA) Convention & Exhibition, sponsored by Nedbank Corporate Property Finance, this September in Cape Town. “Green design and sustainability are crucial topics for all built environment professions,” says GBCSA CEO Nicola Douglas. “We have hand-picked high- Profile local and international speakers to tackle our industry’s most pressing green design concerns.”
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Property
June 30, 2010
Commercial sector will not score
Thabang Mokopanele
Business Day
THE excitement of the World Cup and the increase in foreign tourism is not expected to have much effect on commercial property prices. Commercial Investment Properties of SA MD Rodney Luntz says this is notwithstanding the huge financial effect of the event on the South African economy. Grant Thornton research says an estimated R93bn will be pumped into the economy. Most of the money will, however, be spent on tourism, primarily hotels and airlines and in bars, restaurants and shops. The first week alone saw an influx of more than 400000 international visitors. There is also the huge marketing boost SA will get, with at least 500-million TV viewers.
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Health
June 30, 2010
Crab shells could be used to treat wounds
Tamar Kahn
Business Day
The Council for Scientific and Industrial Research (CSIR) is investigating the prospects of turning a derivative of crab shells into nanofibre membranes for cheap hi-tech wound dressings. Scientists are trying to find a way to combine chitosan nano-fibres with low-cost textile dressings, hoping to get the best both materials have to offer, according to CSIR researcher Valencia Jacobs. Chitosan is derived from chitin, which is found in crab shells. It has a long history of medical applications as it is nontoxic, hypoallergenic, assists clotting, and has antibacterial properties.
TAX
June 29, 2010
SARS steps up control over illegal imports
Bekezela Phakathi
Business Day
The South African Revenue Service (SARS) has stepped up its efforts to protect the local clothing industry by introducing measures aimed at regulating clothing imports, mainly from China. Figures released last week by the South African Clothing and Textile Workers Union claim that 14 400 jobs have been lost in SA’s textile sector over the past year as a result of counterfeit World Cup apparel, mainly from China. Union general secretary Andre Kriel said last week that 2 000 jobs had been lost in Cape Town. “Soccer supporters and South African citizens can save these jobs and grow the manufacturing capacity by ensuring they buy locally made products,” he said.
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Insurance
June 30, 2010
Industry backs state move on compulsory vehicle insurance
Linda Ensor
Business Day
The short-term insurance industry has welcomed a government initiative to explore the introduction of a compulsory motor vehicle insurance scheme. It said the underwriting of motor insurance by the private sector had become increasingly unsustainable because of the high number of accidents and the high number of uninsured vehicles on the roads. Only about 35% of the 8,5-million motor vehicles on the roads are insured, and the insurers of these vehicles have to bear the cost of damages.
Corporate governance
June 29, 2010
Institute warns on succession plan for boards
Sanchia Temkin
Business Day
The Institute of Directors in Southern Africa warned business yesterday it would be irresponsible for them not to prepare for succession planning, particularly when the effect of losing a key leader in a company is considered. The recent air crash in the Republic of Congo that wiped out virtually the entire board of Australia’s Sundance Resources should serve as a reminder for companies to prepare for any eventuality that could result in a leadership vacuum, said the institute. “Companies seldom seriously consider the possibility of events such as this in their risk planning,” Ansie Ramalho, executive director of the institute’s centre for corporate governance, said yesterday.
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