BusinessLIVE - For Your Ear

SANDF has no muscle because funds have been cut to the bone

The SA National Defence Force (SANDF) is in deep trouble and will require prompt and serious attention if SA is not to find itself without an effective military. Some will argue that it would not matter, but we find ourselves in an unstable region in an era of great power…

2 Sep 2020 10AM 6 min

Hotel Rwanda hero wants to be tried by an international court

Nairobi — The family of Paul Rusesabagina — hailed a hero in a Hollywood movie about Rwanda’s 1994 genocide but detained in Kigali this week — has demanded that he be tried in an international court, his son said on Wednesday. The Rwandan government dismissed the demand, revealed by his…

2 Sep 2020 10AM 2 min

LETTER: Give CEOs their due

The puerile bleats of Ian Robinson regarding CEO rewards reminds me of communist Russia before things changed. (“Private sector CEOs’ obscene pay sets bad example (../letters/2020-08-31-letter-private-sector-ceos-obscene-pay-sets-bad-example/)”, September 1). What Robinson describes is pure capitalism at work, the notion of dog eat dog. “Profit maximisation” is what makes profitable and healthy…

2 Sep 2020 10AM 1 min

LETTER: Act against crooks!

Having just read an article about Hermoine Cronje and the possibility of arrests of high-profile people, I feel the need to say: “The sooner the better!” Such arrests would be received by the average South African as an economic stimulus. It is extremely demoralising for those who want to see…

2 Sep 2020 10AM 1 min

LETTER: Time for alternative BEE policy

Correct as he is about the growing chorus of condemnation of black economic empowerment (BEE), a more biting critique of the policy than Andile Ntingi’s contribution is hard to imagine (“BEE fattens the elite and leaves crumbs for the poor masses” (../2020-08-30-andile-ntingi-bee-fattens-the-elite-and-leaves-crumbs-for-the-poor-masses/), August 30). Experience from around the world suggests…

2 Sep 2020 10AM 1 min

Rouble falls as Germany says Alexei Navalny was definitely poisoned

Berlin — A critic of Russian President Vladmir Putin, now in a coma and being treated in a Berlin hospital, was poisoned with a nerve agent of the Novichok family, a German government spokesperson said on Wednesday. Toxicology tests of blood samples from Alexei Navalny conducted at a German military…

2 Sep 2020 10AM 2 min

LETTER: Frayed ANC ideology needs unpicking

I have a strong suspicion that the conspicuous lack of orange overalls within the SA landscape may bear a strong correlation to the fact that the textile industry in SA was in effect destroyed by the ANC and its blood brothers in the textile workers union. Perhaps it was perceptive…

2 Sep 2020 10AM 1 min

LETTER: Paid parental and adoption leave applies to state too

The Labour Laws Amendment Act has been introduced and is operative. Paid parental and adoption leave is effective and has been embraced by the private sector. To hear that the government is once again flouting its own rules and regulations is disgusting (“Government flouts its own laws on worker benefits,…

2 Sep 2020 10AM 1 min

LETTER: SA needs a new corrupt-free beginning

The period of relative anxiety has eased off in communities compared to the start of the lockdown. Sadly, some folks feel free to go about their business as if our fight against the Covid-19 pandemic has ended. Such behaviour may increase cases of infection or reinfection for those who have…

2 Sep 2020 10AM 1 min

Profits before prophets: The threat to our secular state

There’s been a lot written recently about the death of magazines in SA, with so many titles closing down. One person on my social media timeline even posted a pic of empty shelves at her supermarket, lamenting that they used to be full of magazines but are now just gaping…

2 Sep 2020 9AM 6 min

Minister Nxesi confirms suspension of UIF commissioner and senior management

Employment and labour minister Thulas Nxesi on Wednesday confirmed that Unemployment Insurance Fund (UIF) commissioner Teboho Maruping, along with senior management of the fund have been suspended. The suspensions come after the release of the auditor-general’s report, which showed major issues and irregularities in the Temporary Employer/Employee Relief Scheme (Ters),…

2 Sep 2020 9AM 2 min

EU changes course on buying vaccines through the WHO’s Covax scheme

Brussels — EU states could buy potential Covid-19 vaccines through a procurement scheme co-led by the World Health Organisation (WHO), the EU Commission said in what appears to be a change in position. The move could allow EU governments to secure vaccines from companies that are not negotiating with Brussels,…

2 Sep 2020 8AM 3 min

Health and education paid up to five times more for PPE, says auditor-general

The national and provincial departments of health and basic education paid up to five times more than they should have for personal protective equipment (PPE) to fight the spread of the coronavirus, auditor-general Kimi Makwetu has said. Makwetu said in Pretoria on Wednesday that when buying PPE, the departments did…

2 Sep 2020 7AM 3 min

Germany’s finance ministry dropped ball in Wirecard scandal

London — The main responsibility for the failure to pursue alleged irregularities at Wirecard lies with the German finance ministry, and Chancellor Angela Merkel’s office was also at fault, according to an opposition legislator. Members of the Bundestag’s finance committee continued grilling government and supervisory officials this week over Wirecard,…

2 Sep 2020 7AM 2 min

Emmanuel Macron asks turkeys to vote for Thanksgiving during Lebanon visit

Well, that was a nothingbaguette. For French President Emmanuel Macron, his second visit to Beirut since the devastating blasts of August 4 yielded one memorable photo-op, some posturing before the international media, a few airy bromides about the need for political reform and an unspecified threat of sanctions against those…

2 Sep 2020 6AM 4 min

The ‘coronavoucher’ has pushed Brazil’s poverty to record lows

Brasília/New York — Brazil, which has suffered one of the world’s worst pandemic tolls, has responded to the crisis by distributing so much cash directly to citizens that poverty and inequality are approaching national historic lows. Some 66-million people, 30% of the population, have been getting 600 reais ($110) a…

2 Sep 2020 6AM 6 min

CanSino falls behind in race to develop Covid-19 vaccine

Moscow/Vancouver — One of the world’s fastest-moving efforts to develop a Covid-19 vaccine is falling behind rivals, its advance appearing to be stymied by political tension between China and Canada and concerns its shot may not work as well as others. CanSino Biologics, the Chinese company which in March started…

2 Sep 2020 6AM 7 min

UK tells Rishi Sunak now is not the time to raise taxes

London — Investors, economists and legislators in Britain’s ruling Conservative Party are sending Rishi Sunak a simple message: now is not the time for major tax rises. In August, the chancellor warned he will need to take “difficult decisions” to return the country to a sustainable fiscal footing after the…

2 Sep 2020 5AM 4 min

DA Gauteng leader resigns citing lack of faith in leadership

DA Gauteng leader John Moodey has resigned from the party, saying he has no faith in its current leadership. His announcement on Wednesday morning comes mere days ahead of the party’s first ever policy conference, set to be held over the weekend, which will have to determine the direction the…

2 Sep 2020 5AM 1 min

World shares up on improved economic data about recovery

London — Shares gained on Wednesday as investors bet that improving economic data and more policy stimulus from Washington would sustain momentum for equities. European stocks followed Asia’s lead, advancing in early trading and on course to end four straight days of losses. London, Frankfurt and Paris indices were all…

2 Sep 2020 5AM 3 min