Confidence of business falls in nervous times

Business confidence remained fragile and unpredictable, the SA Chamber of Commerce and Industry (Sacci) said yesterday. “Business confidence continues to be vulnerable to negative influences from both the domestic, as well as the international environments,” it said, as it released its business confidence index (BCI) for July. “The July 2012 Sacci BCI reflects the net results of such business climate impact.” The BCI declined by 4 index points to 90.9 in July. It had risen by 2.1 points in June from 92.8 in May. “The July reading for the BCI is a 12-year low, and is down more than 8 points on a year ago,” Sacci said. – Sapa

Shaik appointed to lead DBSA unit

The Development Bank of Southern Africa (DBSA) announced yesterday that former spy chief Mo Shaik had been appointed as the chief executive of the its soon-to-be established subsidiary, the Development Bank International (DBI). The DBSA said his appointment would be with immediate effect. DBSA chairman Jabu Moleketi said Shaik would be “the most appropriate choice” to lead the quest to partner the DBI with other development finance institutions in South Africa’s fellow Bric nations of Brazil, Russia, India and China. – Donwald Pressly