An interesting note comes from Peter Bruce: he says that our GDP does not take into account goods and services exchanges outside our mainstream market. Take a look at a place like Butterworth in the Eastern Cape. Its sidewalks are not finely coiffured as in Sandton but stuff gets carried away in bakkies loaded to the brim. Perhaps things are not so bad after all?
This sentiment dovetails with the BankservAfrica (Beti) publication which shows a year-on-year growth of our economy for 2.3%.
A contrary report, albeit from the formal sector, is the standard bank PMI which fell to 49.2 in June; its sharpest decline in nearly a year.
The stock slump in China wiped out $3.2-trillion in the first three weeks. At least 1300 companies have halted trading in their shares. To place this into perspective, this number is more than 6 times Greece
FNB has been declared as the preferred service provider for the Gauteng Government
John Loos has warned that the Chinese property market bubble burst might have significant negative potential impact on our residential property market. He believes that, given China
It is reported that nearly a half of our law students were dropping out of University; that just 30% of LLB students were graduating with in the minimum time of 4 years and that many of those, who do graduate, have poor literacy and numeracy skills. A strong case is expected to be made for the reintroduction of a five-year degree. I confess to being sceptical. The problem, I believe, is not rooted in the duration of the degree, but in the quality of the students admitted.
Navel gazing: it would be quite interesting to see the result of the introspection prompted by the recent accusations that the judiciary is unfairly interfering with executive powers. It would be quite unfortunate if a stalemate results.
A further issue, seized upon by the press, is that those, who claim to be our
Private arbitration and prescription
Employees and an employer had agreed to private arbitration as substitute for Labour Court proceedings at a time when a claim for unfair dismissal had already prescribed. The employer raised a plea of prescription at the arbitration (It appears that the Labour court is divided on whether the Prescription Act, 1969 applied to such proceedings
Pub signs: Our beer is as cold as your ex
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