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Fri, 19 Jan 2018
South African business school to accept Bitcoin payments

South Africa can now boast its first business school to accept Bitcoin payments for all degrees, advanced diplomas, certificates and online courses.

Red & Yellow, which has campuses in both Cape Town and Johannesburg, says it is focused on preparing its students for career success in a digital future, so the acceptance of the next wave of financial currency is the obvious route.

“The world is changing rapidly, as are our students and it’s our responsibility to ensure we are serving their future focused needs” said Rob Stokes, chairman of Red & Yellow and founder of digital agency pioneer, Quirk.

“The reality is that Bitcoin is here to stay and with many youngsters having made a good return on their investment in cryptocurrencies, they now want to use this digital cash to invest in their education, as future leaders.”

Prof. John Simpson, former head of management studies at UCT, who is now leading the same faculty at Red & Yellow, said: “Not only will this make our offerings more accessible to the public – individuals and organisations – but it will set us apart on an international scale, regardless of the market.”



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Fri, 19 Jan 2018
I was not drunk – motorist charged with killing two cyclists....

Durban – Omesh Ramnarain, the motorist charged with crashing into and killing two cyclists on the M4 Highway leading out of Durban almost two years ago, says he was not drunk on the morning of the accident.

The Durban Regional Court on Monday heard his version that he had only consumed four cider drinks during that evening although at one stage “other patrons” at the bar had split drinks on him.

He also denied any negligence claiming that he was driving home at about 05:00 when he heard a “loud bang” and his windscreen shattered.

“I braked and moved towards the left in order to stop and moments later heard another bang. I could not see properly out of my smashed windscreen,” he said in a written explanation of his not guilty plea which was read into the record by his advocate Murray Pitman.

“I did not see the cyclists prior to hitting them. I did not expect them on the road at all because the M4 is a freeway which prohibits bicycles.”

Monday saw the start of the long-awaited five-day trial before Magistrate Anand Maharaj in which Ramnarain, a 33-year-old plumber, is accused of culpable homicide for the deaths of Richard Da Silva, 46, and his friend and cycling partner Jared Dwyer, 36.

The pair were on an early morning ride with a group of cyclists when they were struck by Ramnarain’s black Golf GTI. They both died at the scene.

The State’s first witness was James Murray, who said he had woken early that day to go for his first ever cycle ride in Umhlanga.

He said he was driving in his car heading north on the M4 when a black GTI “travelling at great speed” came up behind him.

“The road was empty. The vehicle got extremely close behind me and suddenly veered out and overtook. Another light coloured vehicle then overtook me. They appeared to be travelling together at high speed.”

Guilty/not guilty plea

Murray said he lost sight of them for a few seconds. When he rounded the bend, someone flagged him down.

“The GTI was stationary. It was damaged. The windscreen was smashed. I opened the door and asked if everyone was alright. The driver (who he identified as Ramnarain) just kept repeating ‘I was going straight’…

“I was about 30cm from him. I smelled the alcohol as I opened the door.”

Murray said the bikes were both mangled and the cyclists were “obviously seriously injured”.

While he initially said that the cyclists were both in the emergency lane, after being shown pictures of the scene by Pitman, he conceded that they were in the left hand lane.

Pitman also suggested that he had not spoken to Ramnarain while he was in his car and that he had already gotten out.

Murray conceded that he could not say whether the smell of alcohol was coming from the accused or a passenger.

Last year, Ramnarian’s previous attorneys told Maharaj that he would plead guilty to the charges in terms of a plea bargain agreement with Prosecutor Herman Mouton.

However, on the day of the [...]

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Fri, 19 Jan 2018
Here’s what R100 buys you around the world right now

The rand is currently enjoying one of its longest winning streaks since 2002, with the currency trading at R12.37 to the dollar on Monday, 8 January.

Notably it has been on the front foot since December, supported by investors’ hopes that the newly elected leader of the ruling ANC, Cyril Ramaphosa, would push through business-friendly policies.

However, a Reuters poll held on Friday (5 January) found that the run is likely to end soon, with technical indicators now suggesting the rand is overbought.

There are also doubts about how much Ramaphosa, a promised reformer, can do for South Africa’s ailing economy, with the polled strategists saying that the rand is likely to weaken by as much as 12% by the end of 2018.

This means that those looking to travel internationally may find that they will be getting the best bang for their buck right now. BusinessTech looked at what R100 can get you at current prices around the world:

UK: £5.96

USA: $8.08

Australia: AU$10.30

Germany: €6.73

Brazil: R$26.1

China:  52.36 Yuan

Dubai: 29.67 dirham

Canada: C$10.03

Thailand: 263.15 Baht

The prices below are not meant to demonstrate purchasing power parity and do not serve as an equal-weighted price comparison – it is simply a guide on how South African travellers should budget, should they want to engage in ‘leisure’ activities while touring.

Country Big Mac meal (or equivalent) Cappuccino Beer in pub (500 ml) 1 Movie Ticket Petrol (1 litre) London/UK £5.98 R100.30 £3.22 R54.01 £5.04 R84.53 £12 R201.26 £1.21 R20.29 New York/US $7.00 R86.86 $4.83 R59.82 $7.00 R86.69 $15.50 R191.96 $0.73 R9.04 Sydney/Australia AU$11.00 R106.74 AU$4.25 R41.25 AU$8.00 R77.63 AU$20.50 R198.93 AU$1.36 R13.20 Berlin/Germany €7.00 R104.08 €2.96 R44.01 €3.23 R33.16 €9.50 R141.25 €1.36 R20.22 Shanghai/China y36.00 R68.68 y35.00 R66.77 y46.00 R87.76 y71.50 R136.41 y7.00 R13.35 Dubai/UAE d25.00 R84.26 d20.00 R67.41 d46.00 R155.04 d38.00 R128.08 d1.89 R6.37 Montreal/Canada C$10.00 R99.63 C$4.35 R43.34 C$7.00 R69.74 C$13.00 R129.52 C$1.20 R11.96 Bangkok/Thailand b174.00 R66.77 b126.00 R48.35 b111.00 R42.59 b196.50 R75.40 b30.00 R11.51 Rio/Brazil R$26.00 R99.62 R$8.00 R30.65 R$12.00 R45.98 R$27.00 R103.45 R$4.10 R15.71 Johannesburg/South Africa R57.00 R27.00 R25.00 R64.50 R14.20



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