August 28, 2012
From Creamer Media in Johannesburg, I’m Motshabi Hoaeane.
Trade and Industry Minister Rob Davies says revised codes will accelerate BEE implementation.
United Nations food chief Jose Graziano Da Silva hopes for a coordinated G20 response to food price rises.
And, Egypt’s new leader Mohamed Mursi, steps out onto the world stage seeking 'balance'.
Trade and Industry Minister Dr Rob Davies says that the revised broad-based black economic-empowerment (or BBBEE) codes, which Cabinet approved last week, will accelerate the implementation of BEE and broaden the effects of empowerment.
The revised BBBEE codes, reduced the generic scorecard to five elements. As a result, employment equity and management control will be consolidated, and preferential procurement and enterprise development merged to form a supplier development element. The codes will be open for a 60day comment period once they are officially gazetted.
The revision will also see the introduction of priority elements including, ownership, skills development and supplier development. Large enterprises have to comply with all three priority elements. The priority scores of entities that don’t comply with sub-minimum requirements in each priority will be discounted.
The head of the UN's food agency said on Monday that the Group of 20 nations must agree on coordinated action to ease worries about food prices. Food prices account for most of the production of the crops at the centre of concern.
UN Food and Agriculture Organisation Director-General Jose Graziano Da Silva said he wouldn’t characterise the current food price rise as a crisis, but it could reach that level if harvests in the southern hemisphere were disappointing.
He said any coordination should involve avoiding unilateral export bans and encouraging substitution of foods, for instance the eating of beans in Latin American and of casava in Africa.
Officials have said that senior figures from G20 countries will discuss the alarm bells raised by the food price rises and how to combat volatility this week. However, any decisions are unlikely before a mid-September report on grain supply
Egypt's new Islamist president Mohamed Mursi says he’ll pursue a "balanced" foreign policy, reassuring Israel its peace treaty was safe. He was hinting at a new approach to Iran and calling on Bashar al-Assad's allies to help lever the Syrian leader out.
Mursi, who was elected in June and consolidated his power this month by dismissing top military leaders, is seeking to introduce himself to a wider world ahead of a trip to Iran and China.
His emphasis on balance suggests he is seeking a less explicitly pro-American role in the region. However, he has also been at pains to reassure traditional allies.
Also making headlines:
The OR Tambo regional elections shed some light on the Mangaung battle.
The European Union's foreign policy chief Catherine Ashton says Somalia must form a new government.
And, the divide between the rich and poor scars Angola as it heads for the polls.
That’s a roundup of news making headlines today.