Net1 UEPS subsidiary Cash Paymaster Services (CPS) and the South African Social Security Agency (Sassa) agreed to the terms of a new two-year contract, but these terms have to be agreed to by National Treasury, a report reveals. There were no details of exactly how much this new deal will cost but CPS claim that the amount is below the reported R25. The major stumbling block is that treasury has already said they wont sign off on an illegal deal so i dont understand how Bathabile Dlamini can claim that grants will definitely be paid when treasury refuses to comply.
Source : https://goo.gl/SvMpwj
Mercedes Recalls Cars Catching Fire
Daimler AG said it is recalling 1 million new-model Mercedes-Benz vehicles worldwide due to the risk of fire. Of the 1 million vehicles, 307,629 are in the United States. Of the 51 fires, 30 were reported in the US, said Mercedes-Benz. The report did not state which models are affected.
Source : https://goo.gl/vuYj47
Department Of Public Works To Discipline Officials Over Nkandla
The Department of Public Works has finally started to discipline officials implicated in the Nkandla scandal. The Special Investigating Unit reportedly recommended that 15 civil cases be opened, 44 criminal cases be opened, and 64 disciplinary processes be pursued against officials. 92 cases are pending or outstanding and 31 other cases have been finalised
Source : https://goo.gl/4QhQx6
New Welfare System For SA By 2019
South Africa plans to bring in a new welfare-payments system over the next two years and hasn’t yet signed a new interim contract with Net 1 UEPS Technologies, the government said. Cash Paymaster Services, a unit of Net 1, will continue making payments while new social-grants arrangements are implemented, Social Development Minister Bathabile Dlamini told reporters in Pretoria on Sunday.
Source : https://goo.gl/xu7bWm
Ford Working On 3D Printed Car Parts
Ford is using the Infinite Build system provided by Stratasys to test 3D printing in the vehicle manufacturing process. Advantages of 3D printing include cost-effective production and lighter components, as 3D printed car parts will weigh less than their cast metal counterparts. The technology is not fast enough for high-volume manufacturing yet, but is more cost-efficient for low-volume production.
Source : https://goo.gl/7ySnRO
Bitcoin Worth More Than Gold
Bitcoin’s price equaled that of an ounce of gold on Friday, trading at $1,238 per bitcoin. Gold’s price per ounce was $1,237. The move follows a break to new all-time highs for the price of bitcoin, which began the year by crossing the $1,000 mark.
Source : https://goo.gl/4uuZlg
Indicators : Oil 55.76 – Rand/USD 13.03 – Rand/GBP 15.97 – Rand/EUR 13.81