Unions add fire to the fuel strike

Unions leading the strike in the chemical and fuel sector have vowed to continue with industrial action until their demands are met — despite many workers and fellow union Solidarity withdrawing their support.

The Chemical, Energy, Paper, Printing, Wood and Allied Workers Union (Ceppwawu) and General Industries Workers Union of South Africa (Giwusa) staged a march outside the offices of Shell in Rosebank, Johannesburg on Wednesday, brandishing placards promising no end to the fuel strike.

No end in strikeAs Ceppwawu members head into the third week of their petrol strike, they say that they will not stop until their demands are met. More videos“Comrades, we own these streets today. In as much as the greedy capitalists own production, we will own the streets,” Giwusa president Charles Phaahla told cheering protesters.

Trade union Solidarity withdrew their support for the strike in the first week after only two days of participation. And Full Post…

Business sentiment indicator falls further in May

The South African Reserve Bank’s leading business cycle indicator fell by 1.6% in May compared with April, the central bank said on Tuesday.

Ten components making up the headline index contributed to the decrease of the index while only one showed an increase, the bank said in a statement.

The indicator is a forward looking index that collates data such as job advertisements and volume of manufacturing orders to gauge the economic outlook.

The central bank left its repo rate steady at 5.5% last week, after reducing it by 650 basis points between November 2008 and December 2010.

Things to keep in mind when you file tax returns

No income tax return will be accepted without the PAN and incorrect PAN can result in a fine being levied. Communication address should be correctly stated as all notices or other communication from the IT department will be sent to the provided address. Also make sure that the MICR code is correct if you want an electronic refund and also ensure that bank account details are correctly stated for hassle free refunds.

Filing tax returns is an annual mandate that tax payers have to comply with, the last date for which is in sight i.e. July 31st, 2011. In a haste to meet the deadline, make sure you do not miss key elements that can cause trouble later.

Critical information should be cross verified

No income tax return will be accepted without the PAN and incorrect PAN can result in a fine being levied. Communication address should be correctly stated as all notices or other communication from the IT department will be sent to the provided address. Also make sure that the MICR code is correct if you want an electronic refund and also ensure that bank account details are correctly stated for hassle free refunds.

Safe keep all relevant documents for future use

The IT department has done away with enclosing documents while filing returns i.e.

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Man Diversified NAV/Share $1.16 At July 25

LONDON — Man Group PLC Tuesday said the net asset value of Class A Man AHL Diversified USD Shares at the close of business July 25 was up 0.4% on the week at $1.16.

MAIN FACTS:

-In the last 12 months, it is up 7.4%.

-Shares on Tuesday closed at GBP2.34.