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Everything posted by Claude

  1. Paging @Business Machines
  2. Just to be clear, you have neither land nor funds nor assets to put up as collateral to fund this project?
  3. Adevinta eventually prevailed: Adevinta acquires eBay’s Classifieds business unit in $9.2B deal
  4. The National Coronavirus Command Council has lifted the ban on the sale of alcohol and cigarette, said President Cyril Ramaphosa. Source: EWN
  5. South Africa's largest news website, Naspers/Media24 owned News24 recently announced that they will be adopting a paywall on some of their articles with a monthly fee of R75 to read those "locked" articles. This will open an interesting paradigm, News24 is South Africa's largest news website, and while Media24 have already done it on their Afrikaans websites, it remains to be seen how effective it will be on the more popular English News24 website. What do you think, will you pay to read News24? And how do you think this will impact the online business landscape in SA, will more sites adopt it, but more importantly will it help normalise paying for content in SA?
  6. Before you start any business you need to understand it and should at least develop theoretical knowledge about the business and the industry's Supply Value Logistics chain. To tag other members (and notify them of a question or reply) you can either quote what they said or use @ @Mesa Verde @Brakish like on Tweeter.
  7. According to the Pilipino Banna Growers and Exporters Association, banana exports in 2020 are expected to decrease to 162M boxes (USD 1.53B), a 20% decline from 195M boxes in 2019. It also expressed how there is a risk of China seeking alternative sources from Vietnam and Cambodia in the upcoming months. The Philippines is already facing competition with Latin American suppliers in two major markets South Korea and Japan.
  8. A year ago DPO Group acquired popular local payment processes PayFast. DPO Group is now itself to be acquired up by Dubai based Network International for a reported $288 million (R4.9 billion).
  9. SA has lost more in tax revenue since the lockdown began than the loans it got from two multilateral development agencies. SARS Commissioner, Edward Kieswetter, says there was a need to raise R40 billion more in the February budget but that gap has widened significantly because of Covid-19. Tax Relief measures and the ban of tobacco products and alcohol sales have led to an under-recovery of about R47 billion in tax collections. South Africa lost more in tax revenue in the first three-and-half months of its fiscal year than it borrowed from the International Monetary Fund and the African Development Bank (AfDB) combined. In the three months through June, there was an under-recovery of about R47 billion, with excise-duty collections including levies on alcohol, tobacco products and fuel contracting 42% from a year earlier. "The reality is that there was a need in February to raise R40 billion more," said Kieswetter. "Right now, that need is significantly bigger than R40 billion because of the coronavirus." While some restrictions have since been eased, many businesses have closed and the 30.1% unemployment rate is set to worsen, further weighing on tax collections. In a supplementary budget in June, the government cut its revenue projection for this fiscal year by more than R300 billion. South Africa’s top income-tax rate is 45%, corporate tax is 28% and VAT is 15%. It has little room to raise levies with the ratio of tax revenue to GDP at 26%, compared with a global average of 15%, according to World Bank data. Read more at News24
  10. Hi @Dean you not doomed if you are willing to put in the work required, certainly if you can find a way to get or save more to risk that would be beneficial, I know that work is scarce and getting scarcer, but here we say you can start with nothing if you are willing to start right at the bottom, you have already acknowledged that there is lots of work ahead, start here: How to use Smuse. @Mesa Verde @Brakish weigh in please.
  11. One of the agricultural sectors most affected by the pandemic in Australia is the beef industry, for which cattle abattoirs have reduced almost half of the amount of beef being butchered. The tariff increase in China earlier this month to 12% import tariffs, its biggest export market, and the latest spike in COVID-19 infection rates in its second-biggest export market the US, are also posing challenges for Australian beef exporters.
  12. Tridge Seasonal Market Report July 2020: Avocado
  13. COVID-19 is continuing to adversely affect Vietnamese seafood exports. After decreasing by 16% in May, seafood exports in June fell by 10%. Among the products, pangasius (catfish) exports decreased the most at 27%, followed by squid and octopus at 21% and tuna at 16%. Shrimp is the only seafood commodity that experienced an increase in exports of 3%. The EVFTA, effective from August, could act as a boost for seafood exports to the EU.
  14. The export ban on onions in Turkey led to decreasing daily consumption volumes from 5K tons last year to 2K tons this year, causing local wholesale prices to drop to approximately USD 0.73 - 0.88 per kg. Although Turkey is now allowing exports at a limited amount, the ban has given Egyptian suppliers the opportunity to increase their exports to Russia.
  15. Business for South Africa says it expects the national Covid-19 infection rate to peak during August 2020. The business lobby group says South African businesses are likely to face additional job losses of about 1.5 million by the end of the year. The group says it will take a minimum of two years for the South African economy to recover to pre-Covid-19 levels. Business lobby group, Business for South Africa, has urged South Africans and businesses to continue with precautions in work and public life as the economic devastation wrought by the Covid-19 pandemic rages on. In a statement released on Tuesday morning, B4SA said it expected the national Covid-19 infection rate to peak during August 2020, while daily mortalities will peak by late-August or early September. B4SA said South African businesses were already in distress and it now expects about 1.5 million further job losses by the end of the year. "The steep and dramatic surge in new infections indicates that we are now well along the upward trajectory of the infection curve, with South Africa recording the fifth highest number of confirmed Covid-19 cases in the world," the group said Read more at News24
  16. Companies should take heed of a recent decision by the Supreme Court of Appeal that may impact their future positions regarding value-added tax (Vat). The case relates to the proper interpretation of the deeming provisions in the Vat Act, especially Section 8(15) on the single supply of goods and services – which, in certain circumstances, could be deemed to be more than one supply. The result will be a higher tax liability. In the case before the appeal court, a manufacturer and distributor of alcohol in South Africa, Diageo, appealed a tax court decision that it owed the South African Revenue Service (Sars) Vat of around R14 million for the supply of goods and services. Read more at Fanews
  17. For centuries, the Perseverance Tavern has served sailors and Cape Town's colourful entourage of thirsty patrons. In March, the lockdown and national regulations prevented "The Percy" from trading. Now comes the news that the historic watering hole is shutting its old doors for good. Last rounds have been called in South Africa's oldest pub – as the lockdown claims more jobs. The Perseverance Tavern was established in Buitenkant Street by Johannes Blesser in the year 1808, in the heart of "The Tavern of the Seas", as Cape Town was known. But 212 years later, management has now announced its staff will be retrenched, as alcohol sales remain banned – with no end in sight. "It's brutal. With every day that goes by, more and more establishments are shutting up shop," said owner James Charton of the impact of the lockdown. Read more at News24
  18. South Africa’s retail sales plunged by a record 50.4% in April and 12% in May, data showed on Wednesday in the latest evidence of the impact of the early, stricter phase of the country’s coronavirus lockdown. At the end of March, President Cyril Ramaphosa took early action, shutting restaurants, banning alcohol and tobacco sales, while ordering people to stay at home and sending the army on to the streets to enforce it. Statistics South Africa said the April annual figures were the lowest since 2002 when the agency began compiling the data. On a monthly basis sales were up 74.2% after a 50.7% contraction in April. Quarterly sales dropped 19.5%. Retail and trade accounts for around 15% of gross domestic product, the third largest sector, after finance and government services, but increasingly indebted consumers kept indoors by lockdown are unlikely to increase spending soon. Read more at EWN
  19. Naspers unit closes in on eBay deal that could top R133-billion Naspers unit Prosus, handed in the highest offer for eBay’s classifieds unit, putting the Naspers-owned business in pole position to win one of the largest auction processes this year, people familiar with the matter said. The eBay board is scheduled to meet on Friday to formally choose a preferred bidder, the people said, asking not to be identified because the information is private. A sale of the classifieds business was expected to fetch more than US$8-billion (R133-billion), Bloomberg News has reported. Prosus is competing against a private equity consortium — backed by Blackstone Group, Permira and Hellman & Friedman — and a separate proposal from Norwegian online marketplace Adevinta, the people said. The situation is fluid, and one of the rival bidders could still emerge on top, according to the people. Shares of Prosus were down 0.1% at 11.53am in Amsterdam, giving the e-commerce investor a market value of €138-billion. The Euro Stoxx Technology Index rose 1%. The eBay classifieds business includes a number of online marketplaces separate from the company’s eponymous auction platform. Its brands include Kijiji, which is commonly used in Canada and Italy, and Gumtree, a classifieds site popular in the UK, Australia and South Africa. It also owns Bilbasen, a Danish online vehicle marketplace, and British car search website Motors.co.uk. Read more at Techcentral
  20. South Africa's economy decreased by 2.0% in the first quarter of 2020. This extends the technical recession that the country found itself in in the last quarter of 2019. The release of Stats SA's latest quarterly GDP figures comes a week after Minister of Finance Tito Mboweni tabled his supplementary budget in response to the Covid-19 pandemic. Treasury now expects SA's GDP to contract by a record 7.2% in this year, while tax revenues are projected to fall R300 billion short of the what was estimated in February budget. Globally, the economic outlook is also looking gloomy, with the United Kingdom reporting a 2.2% contraction between January and March of this year - the largest contraction for that economy in 40 years. Read more at Fin24
  21. The Covid-19 pandemic has already seen sports equipment manufacturers developing new innovations for an easier return-to-play journey for various codes. One prominent example is Kookaburra, who a while ago touted its waxed cricket balls as a way for fielding teams to keep it shining without using saliva. However, a product is emerging that would dwarf the amount of "virus-proofed cherries" around the world's cricket fields: the electronic whistle. No instrument has become more iconic in sport officiating than the whistle, which was introduced way back in 1868 when Joseph Hudson used it for an English soccer match. Medical experts, however, have become concerned that increased respiration that's associated with most sports increases the risk of transmission. Referees with whistles are no exception. After all, the very act of blowing it releases air full of droplets. Sport's response to the Covid-19 pandemic could evolve further as the appeal for electronic whistles for referees increases. The electronic whistle, which works by pushing a button, is being touted as a safe alternative to the normal product, which still releases a lot of droplet-filled air when blown and could increase the risk of transmission. Some referees are concerned that matches could initially be influenced unduly by them blowing at the wrong time because they're still getting used to its operation. Read more at Sport24
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