Helen Zille Defends Colonialism

Former DA leader and current premier of the Western Cape, Helen Zille, has caused  uproar on social media after tweeting her views on colonialism. In a series of tweets on Thursday, Zille said that people claimed that the legacy of colonialism was only negative, but insisted that there were positive effects as well. Specifically, the premier said that, thanks to colonialism, South Africa benefited from an independent judiciary, transport infrastructure and other modern social features.

Source : https://goo.gl/KZow9r

ADT and Fidelity Merger

Fidelity Security and US-based Tyco have concluded a R2 billion merger deal which will see the latter’s ADT security business become part of the South African Fidelity group. The new entity will be known as Fidelity ADT, and will be 100% South African and a 54.62% black-owned company. It will become one of the largest private security providers in the country. The new group now boasts 168 points of presence across Southern Africa, supports around 57,000 employees, and manages a fleet of 4,574 vehicles, absorbing ADT’s 365,000 residential, small-to-medium sized enterprises and larger commercial customers.

Source : https://goo.gl/rYqmEp

Mercedes To Build AMG Models In East London

Mercedes-Benz SA (MBSA) will begin building AMG derivatives at its East London plant from the second half of 2017. Models to be built at the East London plant will include the C43, C63 and C63 S sedan. They will be produced on the same production lines as the C-Class. But to maintain the hand-built nature of the engines, they will be assembled at the AMG plant in Affalterbach, Germany, and be shipped to SA.

Source : https://goo.gl/h94AUz

7000 Prasa Employees Threaten Strike

More than seven thousands workers at the Passenger Rail Agency of South Africa (Prasa) may down tools in two weeks following the deadlock over wage negotiation with their employer. Workers affiliated to South African Transport and Allied Workers Union (Satawu) and United National Transport Union (Untu) were vehemently opposed to the proposed 4.5 percent wage increment by their employer.


Source : https://goo.gl/DYQOkT

Trump Travel Ban Blocked By Judge

A federal judge in Hawaii issued a nationwide order Wednesday evening blocking President Trump’s ban on travel from parts of the Muslim world, dealing a stinging blow to the White House and signaling that Mr. Trump will have to account in court for his heated rhetoric about Islam. The ruling was the second major setback for Mr. Trump in his pursuit of a policy he has trumpeted as critical for national security. His first attempt to sharply limit travel from a handful of predominantly Muslim countries ended in a courtroom fiasco last month, when a federal court in Seattle blocked it.

Source : https://goo.gl/URFMoJ

Ikea India Gives Employees 6 Months Paid Parental Leave

Ikea India has announced that all its employees in India — women and men — will be entitled to 26 weeks of paid parental leave on the birth of a child. The policy will also apply to employees who have children through surrogacy or adoption. And mothers will be able to work half days for 16 weeks on their return. Workers in Ikea’s home country of Sweden still have it better — companies there are required to offer up to 16 months of paid parental leave, of which three months are reserved for fathers.

Source : https://goo.gl/yM8kpC

Indicators : Oil 52.38 – Rand/USD 12.73 – Rand/GBP 15.57 – Rand/EUR 13.64



Author: The Turk Report

Simplifying complex money matters

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