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/ 2 February 2006
South African Rugby Union (Saru) vice-president Mike Stofile has vowed to resign if beleaguered president Brian van Rooyen is re-elected on February 24 at the organisation’s annual general meeting. ”If he [Van Rooyen] is re-elected, I will resign immediately. I can no longer work with that man,” said Stofile on Wednesday.
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/ 2 February 2006
As the strike by Transnet employees in KwaZulu-Natal ended on Wednesday, four trade unions handed over a memorandum to Transnet management. In the memorandum, directed to Transnet CEO Maria Ramos, the unions urged management to respect processes and structures established for the purposes of negotiating.
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/ 2 February 2006
The bulls continued to rampage on the JSE on Thursday, taking the bourse to yet another record high following its historic break Wednesday above the 20&mnsp;000 level. A softer rand, higher precious metals prices, firmer United States markets overnight and overwhelmingly positive sentiment towards local equities all contributed to the JSE’s strength.
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/ 2 February 2006
We trust that you will enjoy our new section, M&G Money. It is an easy-to-read personal finance section, written for you, not for fund managers or for CEOs.
It is your section and in time we hope to grow the Money forum so that it is a section that is closely edited with your problems and success stories forming its core.
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/ 2 February 2006
Despite the fact that all major banks issue automatic teller machine (ATM) cards that are debit card enabled, only 11% of debit card transactions occur at point of sale. This figure illustrates that many people are not aware that their ATM cards are also debit cards that are linked directly to their cheque, savings and transmission accounts. Standing in line at the supermarket can pay off.
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/ 2 February 2006
New vehicle sales by the National Association of Automobile Manufacturers of South Africa (Naamsa) members increased by 20,3% year-on-year (y/y) in January to 48Â 855 units. A further 4Â 950 units were sold by a non-Naamsa members for an overall increase of 22,7% y/y.
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/ 2 February 2006
"I will be retrenched in the next few months. My company will pay me a package of three months’ salary and my pension fund. How should I invest this and is there any tax relief for people who have been retrenched?" Jenny Gordon, senior legal adviser at Old Mutual Personal Finance Marketing, tackles this topic.
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/ 2 February 2006
It could take several more weeks to finish the paperwork and legal processes needed to start building the Gautrain, the project’s spokesperson said on Thursday. ”Construction will only begin once we’ve signed the concession agreement, but we don’t want to put a timeline on it,” Barbara Jensen said.
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/ 2 February 2006
One practical problem of hyperinflation is the sheer inconvenience of carrying bundles of cash. As a response, the Zimbabwean authorities this week introduced a new ZÂ 000 (US 50 cents) note, but critics warn its value has already been overtaken by inflation. Zimbabwe’s current inflation rate is 600% and the Reserve Bank predicts it will climb by 200 points before the end of the year.
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