Índice para 2022-03-30 em Mercury

ABSA GROUP has appointed Arrie Rautenbach, currently chief executive of the bank’s retail business, as CEO, effectively immediately, the first internally appointed CEO since 2006. He fills a vacancy that had been left open since the unexpected departure of previous CEO Daniel Mminele 11 months ago. The appointment also precedes by days the handing over of the board chairpersonship, from April 1, to Sello Moloko, by Wendy Lucas-Bull. Interim CEO Jason Quinn will resume his position as group financial director. Absa said yesterday that the CEO appointment had followed a thorough recruitment and selection process completed by its board. Rautenbach has more than 25 years’ banking experience, which includes serving as the group’s chief risk officer, simultaneously also providing executive leadership for the Group Separation Programme and Group Strategy Office.…

THE rand rallied back toward a 5-month high yesterday, buoyed by increasing risk sentiment in spite of rising job losses in South Africa. South Africa’s unemployment rate hit a new record high of 35.3 percent in the fourth quarter of 2021, mainly due to job losses in manufacturing and construction industries. Anchor Capital investment analyst Casey Delport, however, said total employment partially recovered as the number of employed persons actually increased by 262 000. “This is reflective of economic activity having bounced back after the July riots,” Delport said. “However, due to a bigger increase in the labour force, the unemployment rate actually climbed from 34.9 percent to 35.3 percent in the fourth quarter.” Despite this, investors have been pouring into financial markets as the start…

A Western Cape farmer is set to receive R350 000 in damages from his pastor, who defamed him. The spiritual leader defamed him via two letters – one to his wife’s attorneys and the other to Stellenbosch University – in which he claimed the farmer often abused alcohol. The farmer turned to the Western Cape High Court where he initially claimed R500 000 in damages from his long-standing family pastor. The farmer told the court the pastor’s allegations were both harmful and hurtful towards him. He said he had been a farmer for more than 20 years in the Cape, and was also an alumni of Stellenbosch University. He had been a member of the pastor’s flock for the past seven years and they knew each other well. The defamation…

Well, you take some skins Jazz begins Then you take a bass Man, now we're Getting someplace Take a box One that rocks Take a blue horn New Orleans born … (Louis Armstrong and Bing Crosby) IT’S like being told that in the 1920s rugby at schools was banned in the Free State – but everyone just ignored it. Jazz in New Orleans schools is about to be reinstated, according to Associated Press. The school board in the city where jazz took root is preparing to undo a little-known 1922 rule that bans jazz music and dancing in schools. The rule has been ignored for decades. Jazz is taught in some schools and marching bands accompanied by dance teams are a fixture of Carnival Season parades. “In this instance, and…

They say wisdom comes with age. The young are too immature to make wise and reasonable choices in life. They are too impulsive, irrational and hasty. The old, on the other hand, have maturity, experience and hindsight behind them and usually make careful, well-reasoned decisions. But age does not necessarily mean wisdom. As the Irish poet and playwright Oscar Wilde said, “Sometimes age comes alone”. Old people do make mistakes, some silly and some stupid. In the Shakespearean tragedy King Lear, the vain and eccentric old king leaves his kingdom to his two daughters, Goneril and Regan, because they had flattered him, but banishes the third, Cordelia, from his kingdom because she did not make a show of her love for him like her sisters. President Joe Biden is an…

Our Minister of Defence’s defence for sending troops to Cuba to be trained each year from 2015 up to 2021, with the exclusion of 2020 due to Covid-19, just boggles the mind when total costs incurred amount to R136 million. How can anyone justify this wasteful expenditure when the country has no money and the fact that this R136m could have been better spent on a whole lot of other more deserving problems? This type of totally unwarranted expenditure by the minister and her predecessor poses a lot of questions about these individuals’ educational levels, and whether they are suited for the job of Minister of Defence with no military background. It seems she has no idea of what wasting money is all about. Besides that, why would any…

More medical experts have joined a campaign against the Road Accident Fund (RAF), charging they are owed millions for their expert opinions and reports. They say they have also written to acting Chief Justice Raymond Zondo to have their opinions that have not yet been used or paid for, withdrawn. Director of MMB Made Easy, Mariëtte Minnie, said the RAF continued to use the expert opinions without any intention of paying for them. “Even the RAF’s own service level agreements (SLA) state that all intellectual property remains the property of the owner and ownership of any documentation only belongs to the fund once it’s paid for. But RAF chief executive, Collins Letsoalo, slammed the dispute as being part of a “concerted effort” to distort what the real issue was. In…

IT IS very rare to see South African politicians doing their job diligently, without fear or favour. That’s why Home Affairs Minister Dr Aaron Motsoaledi’s recent drive to deal decisively with the country’s illegal immigration challenges took many by surprise. Since late last year, Motsoaledi has personally led an aggressive campaign against illegal immigration. It targeted the country’s busiest ports of entry, including the Beitbridge Border Post. As expected, he was accused of xenophobia. But the campaign seems to be bearing fruit. In a sting operation last week, the police arrested a Pakistani man and several others in Krugersdorp for allegedly dealing in fraudulent passports. South Africans and foreign nationals were among those arrested, according to the Hawks. The police added that the syndicate would use the details of South…

Colombo: The Sri Lankan government has approved a proposal to pay an allowance of $17 (R248) to low-income families for two months in view of the festive season. Minister of Energy Gamini Lokuge told the media that the government has identified about 3.1 million low-income families to receive the allowance, which is akin to a bonus for the upcoming Sinhala and Tamil New Year, according to Xinhua news agency. The minister added that the government had the necessary funds to provide the allowance.…

Russia will “radically” reduce its military activity in northern Ukraine, including near the capital Kyiv, after “meaningful” talks in Istanbul, Moscow’s negotiators said yesterday. “Given that the talks on the preparation of an agreement on the neutrality and non-nuclear status of Ukraine have moved into a practical field … a decision has been made to radically … reduce the military activity in the areas of Kyiv and Chernigiv,” Russia’s Deputy Defence Minister Alexander Fomin said. Russian negotiator Vladimir Medinsky said there had been a “meaningful discussion” and Ukrainian proposals would be put to Russian President Vladimir Putin, adding Putin could meet Ukrainian President Volodymyr Zelenskiy. “We have agreed on … a solution, according to which the meeting of the heads of state is possible simultaneously with the foreign ministers initialling…

A Chilean man appeared in court in France yesterday accused of the murder of his Japanese ex-girlfriend, Narumi Kurosaki, who disappeared in 2016 in a high-profile case that has gripped three continents. Nicolas Zepeda, who denies killing Kurosaki, was extradited from his country to France in 2020. Kurosaki, a brilliant scholarship student then aged 21, arrived in eastern French city Besancon in 2016 to learn the language. She disappeared on December 4. Her former boyfriend Zepeda, whom she had broken up with a year before, was the last person to see her alive. Prosecutors allege that Zepeda was unable to deal with the couple’s break-up, coming to Besancon to kill Kurosaki in her student dorm room before dumping the body in the forests of the rugged Jura region. But so…

SOUTH Africa’s unemployment rate is likely to remain the highest in the world for the foreseeable future as economic woes force the number of jobs created to be outpaced by the size of the labour market. Data from Statistics South Africa (Stats SA) yesterday showed 278 000 more people joined the ranks of the unemployed in the last three months of 2021, raising the jobless rate to yet another record high. Stats SA said the country’s unemployment rate rose by 0.4 of a percentage point to reach the dreaded 35.3 percent in the fourth quarter, up from 34.9 percent the previous quarter. This means that there were 7.9 million people of working age actively looking for work who had no jobs at the…

THE PASSENGER Rail Agency of South Africa (Prasa) has committed to ambitious plans to reduce its irregular expenditure by 2024. It told Parliament yesterday of a litany of problems, including heavily vandalised infrastructure, lack of qualified personnel in all tiers, sullied procurement systems, encroachment of its infrastructure as well as high diesel expenses. Appearing before the Standing Committee on Public Accounts (Scopa), Minister Fikile Mbalula, acting board chairperson Leonard Rama- tlakane and acting chief executive David Mphelo acknowledged poor audit outcomes over three years and a R1.9 billion loss in 2020/21, with operating costs at R15.5bn. “The Covid-19 pandemic exposed Prasa to many risks, especially in emergency procurement, which inevitably resulted in some cases of corruption in the systems. “Prasa is not generating sufficient revenue and will have to…

BARLOWORLD’S Russia and Mongolia Caterpillar operation, Equipment Eurasia, is experiencing restricted trading due to supply chain disruptions, some cancellations among customers, and certain assets might need to be impaired. The group said in a trading statement of its operations in Russia and Mongolia: “The situation is fluid, and the team needs to be adaptable to ensure compliance with emerging regulatory changes that impact us both internally and externally.” The share price surged 5.1 percent to R112.55 yesterday morning, a slight recovery from the about R148 it reached until the middle of February, when Russia invaded Ukraine. Barloworld management said they expect restricted trading conditions to continue, despite a record firm order book. “We anticipate further cancellations once the full extent of sanctions, supply chain disruptions and recent announcement by…

THE brief court appearance of former Durban mayor Zandile Gumede yesterday provided a perfect platform for her faction to campaign for the ANC eThekwini region elective conference, with many of her backers boldly declaring their readiness “to rescue the region”. They vowed that no amount of delaying tactics, including “manufactured criminal charges”, would stop Gumede from becoming the regional chairperson. Gumede made a brief appearance in the Durban High Court for her corruption case yesterday. “We have noted the synergy between court cases and elective conferences but we will not be deterred by such tactics, we are moving forward because victory is certain,” said Musa Nciki, a regional secretary candidate from the Gumede faction. Nciki told the crowd of supporters outside court that they were concerned about what they regarded…

From Eisenhower to Obama, from Carter to Clinton, not forgetting Reagan, the actor – American presidents have delivered to its own people, and indeed the world, sterling performances of epoch-making and unmatched oratory skills that have captivated audiences for centuries. From baritones seething with rolling thunder, to lightning-quick retorts to well-orchestrated pauses and then a pin-drop whisper, their public speak ing engagements and press conferences have been a marvel of public relations to watch and hear. Joe Biden epitomised that brand last night in Poland when he stepped on to the stage at Warsaw’s Castle Square, with the confidence of a surgeon entering an operating theatre. He shrugged off his fossilised inertia and a steely resolve took over that gained momentum as he went on. Addressing the Polish nation, now…

I refer to the The Mercury (March 28), where a reader seems to remember only the past eight years of Ukrainian history but 500 years of American history. My grandfather and great-grandfather were Americans. Ignoring the comparison, may I suggest that he perhaps look up the history of Ukraine and let’s compare the past 100 years or so. Further, if he consults the UN site, you will find that one of the founding members of the UN is the Republic of Ukraine. Yes, together with the USA, the Union of Soviet Socialist Republics (Russia) and South Africa. There is quite a good write-up on Wikipedia, which is open to public interaction. So, where do you find the right of Russia to invade a sovereign country? Russia invaded Ukraine in 1917…

Walks down Church Street watching the fountains flow, pristine alleys enriched with historic red brick architecture, and displays of thriving businesses. Weekends spent watching kids playing soccer on the river banks, sports matches that turn into family outings on lush grounds throughout the “baby” Garden City. Picnics in Alexandra Park, day visits to the exquisite Botanical Gardens to feed the ducks and enjoy a refreshment in tranquility. A once thriving city on a path to prosperity, summiting on a mountain of economic wealth and development with opportunities of abundance, and an array of educational facilities at our disposal. With the potential to be the beacon of economic growth in the province, and a symbol of South African heritage filled with cultural diversity that defines the roots of this beautiful…

A MEETING of the executive committee of the eThekwini Municipality collapsed yesterday amid allegations of “vote rigging” by the ANC. The meeting collapsed after the DA, IFP and EFF councillors left the virtual meeting after accusing mayor Mxolisi Kaunda of dishonesty, “vote rigging” and treating them like children and with disrespect. The collapse of the meeting by the opposition leaving was another brutal reminder for the ANC that they no longer have absolute control of the municipality. The meeting collapsed after opposition party councillors accused the ANC of trying to get one of their councillors, Zama Sokhabase, to vote on an item being discussed despite her allegedly not being in the meeting at the time. At the start of the meeting at 10am yesterday, Kaunda had informed the councillors that…

KABUL: Tajikistan is interfering in the internal affairs of Afghanistan, Abdul Ghani Baradar, the acting deputy head of the Afghan government, said. “Tajikistan interferes in our affairs, for every action there is a reaction,” Baradar said in an interview with al Jazeera TV channel. Earlier this month, Tajik President Emomali Rahmon suggested creating “a security belt” around Afghanistan to prevent the potential expansion of terrorist groups. A day earlier, a Taliban official said the movement had sent thousands of fighters to the Afghan province of Takhar, which borders Tajikistan. He said this was needed to counter security threats.…

FRANKFURT/LONDON: Russia said it would work out practical arrangements by tomorrow for foreign companies to pay for its gas in roubles, raising the probability of supply disruptions as Western nations have so far rejected Moscow’s demand for a currency switch. President Vladimir Putin’s order last week to charge “unfriendly” countries in roubles for Russian gas has boosted the currency after it fell to all-time lows when the West imposed sweeping sanctions against Moscow over its invasion of Ukraine. “No one will supply gas for free. it is simply impossible, and you can pay for it only in roubles,” Kremlin spokesperson Dmitry Peskov told reporters yesterday. The move has drawn strong criticism from European countries, which pay for Russian gas mostly in euros and say Russia is not entitled to redraw…

SAO PAULO: Brazilian President Jair Bolsonaro was discharged from hospital yesterday morning after spending the night there for tests, the Globo News channel reported. Communications Minister Fabio Faria said that Bolsonaro had been admitted to hospital in Brasilia on Monday after feeling abdominal discomfort, but added that he was “all right”. Bolsonaro, 67, who was stabbed in the abdomen during the 2018 presidential campaign, was absent from an evening event organised by the Republican Party which he had been slated to attend.…

Hundreds of thousands of people, survivors of bloody militia attacks, are battling trauma and life in camps for internally displaced people (IDP) in Ituri, a north-eastern province of the Democratic Republic of the Congo, following decades-long conflicts. For decades, conflicts have been taking place in this part of the country, where hundreds of thousands of people have had no choice but to flee their homes and take refuge in IDP camps scattered across Ituri. According to a report by the UN, about 1.9 million people are displaced within Ituri. Buma Annie, a 36-year-old woman who has been internally displaced since last year, lives in the Kigonze camp in Bunia, capital of Ituri province. Born and raised in a small village, she recalled the day when she escaped by the skin…

WHILE the battle for Ithala Bank to become a fully-fledged State-owned bank with a right to compete with the big five banks escalates, the KwaZulu-Natal legislature doubts Ithala would be able to acquire its permanent banking licence by the end of next month, which is the cut-off date. The bank has been struggling for about 10 years to obtain a permanent banking licence and as a result, it had, up to now, been operating with a renewable Banking Licence Exemption Notice, which is renewable every 12 to 24 months. The temporary licence limits the activities of the bank, which was established by the then KZN government, leaving bigger banks to still control the sector. The executive managers of the bank, which is an entity owned by the KZN Department of…

MIPIM, the world’s major international real estate event in Cannes, France, which ended on Friday, signalled a return to normality after the Covid health crisis. Under the shadow of a Russian- Ukrainian war, Mipim’s recovery from a two-year Covid break revealed good news amid clear global difficulties. Both listed and unlisted companies worldwide were represented at the event. There are many lessons for the South African property market, despite the visible lack of any African repre- sentation. For Inospace, it further validated the value we see in the industrial and logistics sector, which is booming worldwide with growing investor and tenant demand. More critically, we have also experienced strong rental growth in industrial units, and this seems to be a global trend in most first and second-tier investment destinations. A…

THE conduct of South African banks amounts to the throwing of stones while living in a glass house, is how Ayo Technology Solutions (AYO) chairperson, Dr Wallace Mgoqi, described the banks’ move to shut down Sekunjalo and related entities’ banking accounts. In an interview with Independent Media’s investigations unit, Mgoqi revealed Nedbank had terminated his personal bank account in February. “This was purely because of my association with (Sekunjalo chairperson) Dr Iqbal Survé, as is the case with the other companies.” Mgoqi, however, pointed out double standards, referring to Part 1 of the Zondo Commission Report, which revealed how Nedbank, in particular, was reported to have been involved in transactions with Gupta companies, which were linked to corruption. “Before you decide to be on the offensive you have to be…

ALTHOUGH there is an ongoing tussle over requests for further information made by the defence to the State in the high-profile corruption case in which Zandile Gumede is charged, July 18 still remains the trial date for the matter. Yesterday the matter returned to the Durban High Court where Judge Johan Ploos van Amstel reaffirmed the trial date, extended the bail of all the accused and directed them to appear at the Pietermaritzburg High Court at the next court date. Gumede and her co-accused are facing corruption charges relating to an irregular R320 million municipal waste tender awarded in 2017 in the eThekwini Municipality. At the time, Gumede, whom the State described as one of the five key figures in the case, was the mayor of the municipality. Another…

“MY FATHER is getting older. He has never told me he loves me. Do you think I should ask him to say it once before he dies? I feel childlike asking the question because I am an adult with my own children. I have no problem telling my children I love them – both because I do love them, and because I want my children to hear it from me, their mother.” Yes. Tell him that hearing him use the words “I love you”, directed at you, would mean a lot to you. Being an adult, you are aware that asking your father to say he loves you does not mean he will say it. It is a risk worth taking. Asking him could prove good for both of you.…

Ramadaan is a month for Muslims to focus on their spirituality, conscious and mindful awareness of the Almighty, and reflect on self-reformation, habits and sins. It is a time for Muslims to reconnect on a personal level with the Almighty to become better human beings. Through effective communication with their children, parents can support lessons learnt at vernacular institutions about Ramadaan and the importance of fasting. It is essential to emphasise the benefits of fasting, reading the Qur’an and other routines or practices associated with Ramadaan. Parents need to nurture the love for Ramadaan and self-reformation in their children’s hearts and deepen their connection to this blessed month. Children that are old enough to perform prayers in the masjid/ mosque, but young enough to be tempted to play outside, should…

Economists and analysts say while the South African Reserve Bank’s decision to increase the repo rate by 25 basis points last week was expected, it was likely to put a heavier burden on consumers. Experts said the impact of the Russia and Ukraine conflict had caused international countries to increase their interests rates, and it had been expected that emerging economies like South Africa would follow suit. Mervyn Abrahams from the Pietermaritzburg Economic Justice & Dignity Group (PMBEJD) said that with rising inflation, there was a need for an interest rate hike. “One of the major concerns is the rand, and to ensure a stronger rand, the South African Reserve Bank was forced to hike the interest rate. However, it remains to be seen whether the increase in the…

Experiences of a black American student seeking African roots When I decided to study abroad, I set my sights on Africa, hoping to explore my cultural heritage and to confront the comforts of my American life more critically. I was very against studying in the Global North – I desired an experience that centred on non-Western culture and tradition. When I told a friend I would be studying in South Africa, I was met with unexpected derision: “So, you’re going to Europe.” Naturally, my heart sank. In truth, my friend gave voice to a lingering concern that South Africa wouldn’t be able to give me the authentically African experience I craved. I had an image in my mind of Cape Town that I couldn’t shake, reflecting a common narrative that…

BEIJING: Beijing strongly opposes the US bill aimed at increasing competitiveness with China and is determined to protect its interests, Chinese Foreign Ministry spokesperson Wang Wenbin said at a briefing yesterday. On Monday, the US Senate approved a bill aimed at making the US more competitive with China in the economy and security. “The bill ignores the facts, exag-gerates the theory of the Chinese threat, incites the development of a strategic rivalry with China, is replete with Cold War and zero-sum thinking, and goes against the desire of sectors of the public in China and the US to strengthen co-operation,” Wang said.…

Britain’s Queen Elizabeth made her first public appearance in five months yesterday when she joined the royal family and other dignitaries at a memorial service to her “remarkable” husband Prince Philip, who died last year. Philip, the Duke of Edinburgh, who was by his wife’s side for more than seven decades, passed away at their Windsor Castle home in April, two months shy of his 100th birthday. Only 30 mourners were able to attend his funeral service then due to strict coronavirus rules, which meant the queen poignantly sat alone as her husband of 73 years was lowered into the Royal Vault of St George’s Chapel of the castle. Yesterday’s service of thanksgiving at London’s Westminster Abbey was a much bigger event, with the queen joining her son and heir,…

LOS ANGELES: Beyoncé’s Oscars performance was “pre-taped” to ensure “nothing was left to chance”. The 40-year-old singer was joined by her 10-year-old daughter Blue Ivy as she kicked off the Academy Awards on Sunday with a rendition of Be Alive from King Richard, and now an ABC executive has weighed in on the decision. Speaking to Billboard, Rob Mills of the broadcaster’s parent company Walt Disney Television, said: “It was pre-taped. I think that as you can see, Beyoncé clearly had a really amazing vision for that song, and I think it was just making sure nothing was left to chance.” She was introduced by Venus and Serena Williams – who were in attendance for the ceremony at the Dolby Theatre in Hollywood – and she was joined by a…