The Untouchables in a Gangster’s Paradise? Is it reasonable or ethical to make use of companies that do not consider themselves to be held accountable, for their actions in any private or public enterprise? While Big Tech has become seemingly untouchable, even from the US Supreme Court or Whitehouse, the same culture of supremacy, greed, lack of accountability, lack of transparency, and lack of responsibility seems to have created and sustained an environment in South Africa where IT negligence is acceptable, and lack of accountability is the norm, even when it comes to government institutions, contracts and tenders.
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Has Corporate South Africa Been Infected by ANC Corruption, Greed & Negligence? Dimension Data NTT Case Study
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Coincidence? High Court Rules in Favour of IS / Dimension Data, Both of Whom Failed to Keep Crucial IT Software Updated!
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Surely companies that defend a failure to maintain vital IT systems, should not be allowed anywhere near government contracts to support systems serving the people of South Africa? In fact, they should not be allowed any systems at all, but particularly government systems that could be infiltrated such as SARS, IEC, Home Affairs, EVDS, Eskom etc. especially given that SA Court systems are already insecure as SA-News recently reported.
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Emigration Tax? ANC Regime to Charge Emigrating South Africans an Additional “Exit Tax” on Retirement Funds!
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In the National Treasury’s latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 Budget, the amendment proposes a particularly worrying amendment which may upend taxpayers’ carefully planned retirement. The Draft Taxation Laws Amendment Bill (TLAB) proposes an additional “exit tax” to tax retirement fund interests of individuals when they cease South African tax residency. This proposed amendment, due to come into operation on 1 March 2022, would be a further blow to emigrating South Africans wanting to cease their tax residency
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The trade talks set to spark rand volatility
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The rand has held its ground over the past 24hrs, but markets are expected to react as we draw closer to the highly anticipated two-day US-China bilateral trade talks.
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Are things ‘back on the bus’ now with Trump?
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It’s all aboard the Trumplomacy bus, as President Trump offered China an olive branch yesterday, renewing hope that a ‘trade ‘war’ could be avoided……..
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Is this the beginning of the end!
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Trump announces US withdrawal from the Iranian nuclear deal with plans to impose strict sanctions.
Uncertainty of global oil supplies grows as countries who continue business with Iran may be penalized and ………
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Things are going slow and steady
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The rand is stable as markets wait for significant news/data to find new direction.
Risk appetite has returned, but with continuous geo-political tensions, fears over a trade war and future Fed hikes, the local unit will most likely continue to trade in its current range. In global news:
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The rand continues to trade side-ways against the USD
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First up is US consumer price inflation, which is expected to come in around 2.4% (ahead of the 2% target and fuelling interest rate increase fears).
The US Fed is next, where March’s meeting minutes should provide insight into how many interest rates hikes……..
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Trade wars between US and China continues
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US and China tensions continues to grab the headlines, despite disappointing US jobs data Friday.
The US created 103k jobs in March, a far cry from the expected 188k, with unemployment remaining at 4.1%. Emerging markets have recovered slightly, with the rand hugging 12/$. President Trump called China’s bluff over the weekend, threatening another $100bn in tariffs.
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Tit for tat:- Tariff increase of Chinese import products
Following China’s 15% tariff on US products, ‘Merica hit back yesterday laying out plans to impose a 25% tariff on Chinese import products.
The tariff could see more than 1300 Chinese imports being effected totalling more than $50 billion. In response, China said it ………
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