Davos - The annual meeting of the World Economic Forum (WEF) concluded on Saturday on a note of cautious optimism about the world economy.

The idea that global economy is on a bumpy path of recovery, but is shadowed by uncertainty, potential risks and challenges was shared by President of the World Bank, Christine Lagarde, managing director of the International Monetary Fund and Mario Draghi, president of the European Central Bank.

The hot political issues such as the Syrian crisis and Iran's nuclear program riveted more attention this year, with political leaders expressing their views and positions via the platform of the WEF.

During the four-day meeting, over 2 500 participants from almost 100 countries, including more than 1 500 business leaders and over 40 heads of state or government, exchanged views on and probed into possible approaches to problems such as global economic recovery, financial outlook, new energy, health and climate change.

All the issues are under four major topics, namely Embracing Disruptive Innovation, Achieving Inclusive Growth, Meeting Society's New Expectations and Sustaining a world of 9 Billion. – SAnews.gov.za-Xinhua

Enterprise Ireland Launches First Online Networking Platform For Female Entrepreneurs. The Minister of State for Small Business, Mr John Perry TD, today (Friday 24th January 2014) launched Enterprise Ireland’s first peer-to-peer online networking platform for female-led companies. The new online initiative will support female entrepreneurs by facilitating greater communication and connectivity between the growing number [...]Enterprise Ireland Initiative for Female Entrepreneurs is a post from: Ireland Business



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The Association of Mineworkers and Construction Union (Amcu) has agreed to allow government to mediate talks between the union and mining...

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South Africa’s infrastructure development programme will expand the black industrial class, with the Strategic Integrated Project II (SIP2), presenting an opportunity for black business to grow.

Speaking on infrastructure development and the role of black business at a business breakfast hosted by the Black Management Forum (BMF), Public Enterprises Minister Malusi Gigaba said that SIP 2 (The Durban-Free State-Gauteng Logistics and Industrial Corridor) was intended to improve access to Durban’s export and import facilities, among others.

“Our infrastructure programme will, without reservation, expand the black industrial class, create new industrialists and improve social wellbeing,” he said on Thursday.

SIP2 is also intended to integrate the Free State Industrial strategy activities into the corridor, while it will also build cargo nodes (Harrismith, Cato Ridge, Tambo Springs and the Dube Trade Port) and will further upgrade existing cargo nodes like City Deep and Pyramid.

It will expand rail capacity and rolling stock to meet forecast demand from 67Mt per annum to 167Mt in 2037. It will be worth R205 billion over the next five years.

“This presents an opportunity for black business to explore both downstream and upstream initiatives, high value-added goods and growth sector in the infrastructure value chain like cement plants, stone mining and others,” Gigaba said.

In the third quarter of 2013, 11 118 jobs had been created by SIP2.

Government is committed to support the effort to build black industrialists that are ready, able and willing to put in hard work to create sustainable, job creating and skill developing inclusive wealth.

“No economy creates a new class of industrialists without hard work. We expect the same from black business, so that they become true entrepreneurs and not mere middlemen,” the minister said.

As the country celebrates 20 years of democracy, it was necessary, said Gigaba, to ensure that those who were previously excluded from the economy now have a better life.

South Africa had always lagged behind compared to its peers due to inadequate economic infrastructure to facilitate trade, and the government-led infrastructure programme is intended to transform the economy and stimulate growth, among others.

The International Monetary Fund has predicted that the country’s economy will grow by 3.8% and will be driven by exports.

“This signals recovery, improved industrial output projections and it is positive for our economy. While this signals positive projections, it is not suitable for SA to build its economy on an export-led strategy. We must anchor our economy also on domestic consumption as well. This infrastructure investment will contribute to that objective,” Gigaba said. - SAnews.gov.za

Now let’s talk about a major aspect of trade management that needs discussing:**Whether to scale or not. What the Heck is “Scaling”? Scaling in essence means breaking up your order into separate pieces or “trades” within the dynamic of the entire move you are trading. *There are different forms, but the three most common forms […]

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Hi, our forex robot test pilot and expert Omar Eltoukhy has been trading and using forex robots (sometimes know as forex expert advisers or ea’s) for many years. He has tested and binned over a 100 forex robots in that time and there are very few that pass his due diligence and then actually get […]

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The recently launched Industrial Development Zone in Saldanha Bay, a harbour town situated on the south-western coast of South Africa, is already drawing investment interest. In a statement on Thursday, Alan Winde, the Western Cape’s Minister of Finance, Economic Development and Tourism, said the signing of several lease agreements and the upsurge of global oil [...]Saldanha Bay attracts investment is a post from: South Africa Business



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ARAMARK Ireland has recently invested €1.6m in an initial step to on-board its finance organisation with the ARAMARK Corporation Enterprise Resource Planning (ERP) system. The investment includes the implementation of Oracle’s Financials of the E-Business Suite Release 12 which will replace all legacy systems and will enable ARAMARK to leverage corporate scale technologies whilst increasing [...]Aramark Ireland makes investment is a post from: Ireland Business



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The Competition Commission has appointed new senior managers to fill a number of key posts.

Liberty Mncube has been appointed as Chief Economist and Manager of the Policy and Research Division; Junior Khumalo as Divisional Manager of Enforcement and Exemptions and Thomas Kgokolo as Chief Financial Officer.

All the appointments are effective from 1 January 2014.

“The new appointees will provide the necessary leadership to their very important divisions. It is important that we have a very strong and stable senior management team and I have full confidence that this team will take the Commission to higher levels.

“We are privileged as an institution that we are able to find most candidates internally and thereby ensure continuity. I am looking forward to working with the new members of our EXCO and wish them well in their new positions,” said Tembinkosi Bonakele, the acting Commissioner.

Mncube was most recently a Principal Investigator in the Enforcement and Exemptions Division of the Commission. Before that, he was a Principal Economist in the Policy and Research Division. He has been with the Commission for the past six years.

Mncube holds a MSc in Economics from the University of York (UK) and is currently completing a PhD in Competition Economics at the University of KwaZulu-Natal. He has been a visiting PhD graduate student at the Barcelona Graduate School of Economics.

Prior to joining the Commission, Mncube was a researcher at the Development Policy Research Unit at the University of Cape Town. Mncube is also a visiting senior lecturer at the University of Johannesburg. He has published widely on competition policy in local and international journals and has been a co-guest editor of a special issue on competition economics for the Journal of Economic & Financial Sciences.

As Chief Economist, Mncube will be central in ensuring that case and policy analysis is fully compatible with economic learning.

Khumalo takes over from Clint Oellermann as the head of Enforcement and Exemptions. Khumalo is the former Principal Economist in the Policy & Research division and having been at the Commission for over 10 years, is one of the most experienced investigators. He is the past acting Chief Economist and in addition to his work in policy and research, he has worked as an investigator at the Mergers & Acquisitions and Enforcement & Exemptions Divisions.

Khumalo holds a BCom (Honours) degree from the University of Fort Hare, an MA degree in Economics from Colorado State University (US) and has attended several intensive courses in competition law and economics, including at Fordham Law School in the United States and the Mandela School of Law (Wits University).

Kgokolo is a Charted Accountant with extensive experience in both public and private sector finance. His most recent assignment was being a Chief Financial Officer deployed by SAICA to assist with financial management improvement at FET colleges. He served his articles at one of the big four audit firms, where he had audit assignments in banking and financial markets.

He is the Chairperson of Audit and Risk Committee at Mine Workers Provident Fund and a member of audit committee of the Bank SETA. He has consulted for the Auditor General, where he managed audit projects and worked as a quality assurance reviewer. He also worked with both National Treasury and School of Government to provide training at various government departments on financial accounting.

Oellermann moves to the Commissioner’s Office as manager responsible for strategy, monitoring and evaluations, as well as strategic relations. He started working for the Commission on 01 October 2012 and has 11 years of experience in the forensic industry and 15 years management experience. – SAnews.gov.za

Our algorithmic trading & ea specialist Omar Eltoukhy has posted his mini review of a very interesting piece of software whose verified accounts suggest that it made 202% account growth last year with less than 7% drawdown. If its true then these are truly remarkable statistics and has certainly piqued our interest enough to add […]Author information


Marc Walton
Author, Home Based Forex trader & Mentor for Over 10 Years

I have coached 1000's of home based forex traders. Currently developing a professionals trading course here at the Forex Training Academy with ex hedge fund trader:Fotis Papatheofanous, 20 year veteran trader & psychologist: Rich Friesen & former student of mine, turned full time trader & now a mentor::Omar Eltoukhy
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