Vodacom catches up, slashes data rates

Long-awaited move means consumers pay as little as 19c per megabyte.

South Africa's biggest cellular network, Vodacom, has cut its 3G/HSDPA broadband data rates by up to 61%. In most cases, it has more than halved the cost of its various packages, bringing them in line with competitors.

The most drastic price cuts for an average user are on its 2GB options. On the bundled 24-month contract (including a data card or USB modem), Vodacom subscribers will now pay R449 per month (22c/MB), while the bolt-on data variation (without the modem), will cost R389 per month (19c/MB). These packages previously cost R1 098 and R998 per month, respectively. Also, there is no longer any distinction between 3G and HSDPA charges with Vodacom's new pricing.

Read more at MoneyWeb.co.za

What Are You Teaching Your Kids About Money?

Children are the most potent receivers in the world - they are also notorious mimics. A child can read the unconscious signals in how you react to certain events and at once surmise and integrate your attitude into their personalities.

If you show a negative attitude toward things of a financial nature, chances are, your child will too. So how do you know that you're sending the wrong financial messages to your kids? Read on for some tell-tale signs that you need to put your financial household in order.

Read the full article at investopedia.com

Vodacom workers set to strike

Vodacom workers will take industrial action this week in an attempt to bring the company to recognise the Communication Workers Union (CWU), the union said.

Workers would picket in the morning and lunchtime on Monday and Tuesday, said union spokesperson Mfanafuthi Sithebe.

On Wednesday, strike action would be taken when workers would march to Vodacom headquarters in Midrand to hand over a memorandum.

Read more at FIN24.co.za

LME copper drifts, awaits US data

Base metals drifted in early business in Europe on Friday, with the market awaiting key data from the United States for clues about future economic growth.

Benchmark three-month copper futures at the London Metal Exchange were quoted at $6,177/6,185 per tonne at 1144 GMT, down $98 from Thursday's close.

Mining shares fell more steeply than the FTSE index of 100 shares.
The world's biggest mining company BHP Billiton was down 0.5 percent and Chilean copper miner Antofagasta was down almost 2 percent by late morning in London.

Read more at Reuters South Africa

Two of SA among 200 richest

Two families in South Africa made it in the top 200 of Forbes magazine's list of richest people in the world.

According to Forbes magazine's 2007 rankings of the world's richest people, the 61-year-old Nicky Oppenheimer and his family clinched the 158th spot with a net worth of $5bn (R36.9bn), while Johann Rupert, 56, and his family claimed spot 194. They are worth $4.3bn (R31.7bn).

Read more at FIN24.co.za

SA sued over black mining law

The Italian owners of two granite firms are suing South Africa for €266m, arguing that laws which force firms to sell stakes to black investors violated international investment treaties, the investors' lawyer said on Friday.

The act marks the first legal action alleging that South Africa's mining charter, which seeks to boost involvement of blacks in a sector that excluded them during apartheid, amounts to expropriation.

Read more at FIN24.co.za

Deadline for tax returns moves

Income tax returns for 2007 will be issued later than usual this year, the SA Revenue Service (SARS) said on Friday.

"Taxpayers are encouraged to record accurate odometer readings if they are in receipt of a motor vehicle allowance and to retain such information for the submission of their returns later this year," SARS said in a statement.

Read at FIN24.co.za