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New Era Newspaper Thursday December 7, 2017

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12 Inside BUSINESS

12 Inside BUSINESS Thursday, December 7 2017 | NEW ERA Australia targets corporate crime with new laws SYDNEY Australian companies will be held responsible for bribery committed by employees and contractors under new laws introduced Wednesday aimed at combating corporate crime that costs the country billions of dollars a year. Modelled on regimes already in place in Britain and the United States that have helped transform business culture, the legislation will to come forward and work with government agencies. “Corporate crime is estimated to cost Australia more than Aus.5 billion (US.5 billion) each year,” Justice Minister Michael Keenan said in introducing the changes. “It hurts our businesses, hinders economic growth and jeopardises Australia’s international reputation.” Keenan said the reforms make investigating and prosecuting offenders simpler while strengthening offences for companies operating offshore. A new crime of failing to prevent foreign bribery will be created and amendments made to broaden existing foreign bribery laws. The legislation also establishes a “deferred prosecution agreement scheme”, providing incentives for companies to report wrongdoing themselves. Successful corporate crime prosecutions by Australia have been few and far between, with detecting and responding to bribery proving to be “It is inherently challenging to investigate -- there is often no read- often offshore, and bribes can be concealed in legitimate business transactions,” said Keenan. The Organisation for Economic Co-operation and Development estimates the average time to resolve foreign bribery cases is more than seven years. A recent success saw three Australian men sentenced to four years in jail in September for conspiracy gain contract work for their engineering and construction company, Lifese. The new laws follow the government last year boosting funding to bolster its fraud and anti-corruption unit while establishing a Serious Financial Crimes Taskforce. – Nampa/AFP Steinhoff shares plunge 60 percent after CEO FRANKFURT AM MAIN A SUMMER H LIDAY WORTH EVERY SMILE MAKE SURE YOU CHECK YOUR VEHICLE AND DOCUMENTS BEFORE YOUR NEXT JOURNEY. WE WISH YOU SAFE TRAVELS. Toll-Free: 081 918 47 (MTC) 0800 309 231 (TN Mobile) Roads Authority, Private Bag 12030, Ausspannplatz, Windhoek, Namibia Tel: +264 61 284 7000 | Fax: +246 61 284 7655 Email: | Web: Shares in South Africabased German-listed retail giant Steinhoff fell almost 60 percent on Wednesday after the company announced the resignation of its CEO in the wake of alleged accounting irregularities. 58 percent to trade at 1.26 euros (.48) on the Frankfurt stock exchange around 0920 GMT, giving it a market capitalisation of 5.7 billion euros. T h e We d n e s d a y plunge of shares in the forama in France, Poundland in Britain, Poco in Germany and Pep in southern Africa, followed news that chief executive Markus Jooste had resigned. The board has also approached auditor PWC to investigate allegations of irregular accounting practices. Steinhoff’s holding company is based in Amsterdam for tax reasons and has its primary listing on the Frankfurt stock exchange. Steinhoff shares lost over 56 percent in trading on the Johannesburg stock exchange. “The supervisory board of Steinhoff wishes to advise shareholders that new information has come to light today which relates to accounting further investigation,” the company said in a statement. “Steinhoff will update the market as the aforesaid investigation proceeds.”The company stressed that it still had portfolio and urged investors to “exercise caution” when trading its shares in the wake of the disclosures.– Nampa/AFP

NEW ERA Inside BUSINESS 13 FORD RANGER spiced up for 2018 Nissan to unveil new X-Trail Nissan is about to launch the next generation of the X-Trail. The new model, set for release in coming weeks, has the luxury and performance of an accomplished SUV and the smarts of a hightech multipurpose vehicle. The new Nissan X-Trail comes with a much more powerful engine and space for seven passengers, interior upgrades that will allow mountain bikes the kids enjoy the premium feel on long road-trips to the grandparents over the holidays. It also features Nissan Intelligent Mobility function that enables drivers to see more around them, with premium technology like Intelligent Emergency Braking and Lane Departure Intervention. The new Nissan X-Trail comes with a six-year/150,000km warranty, a three-year/90,000km service plan and 24-hour roadside assist. Mahindra has a new bakkie in the market Staff Reporter Windhoek Indian car manufacturer, Mahindra, has a new bakkie in the market, which comes with an improved power output of 103kW in its turbodiesel model and a new towing capacity of 2500 kg. It also now features a 6-speed gearbox and new interior that boasts a large six-inch full-colour touchscreen display on the S10 Double Cab models. On the outside, the new changes are to the front where Beefed up… Ford Ranger has been bolstered with new exterior features to give it a more pronounced presence on the road. Photo: Quickpic the grille, headlights, bonnet and foglamps have all undergone a substantial Staff Reporter redesign. The new grille design is smarter, Ford utilising Motor Company a glossy of Southern Africa (FMCSA) has introduced a raft of accents, as well as a more prominent new enhancements Mahindra and badge, product while updates the on lower the Ford air Ranger, intake which has been is locally reshaped produced to at provide Ford’s Silverton Assembly visual integration Plant Pretoria. with a stronger the Bolstering grille. Black the mesh integrated inserts are SYNC®3 consistently with applied Navigation to both infotainment main grille system and the with lower its large air the intake, eight-inch creating touch a more screen, consistent Front appearance. dard The on headlights all Ranger on XLT either and side Fx4 of models. the grille The are new also front-mounted completely new, sensors with complement a cleaner, the existing more resolute Rear Park appearance Assist with and rear-view a new curved camera, LED thus providing daytime improved running light visibility signature and safety for when the S10 manoeuvring Cab. the vehicle in Double tight spaces. the convenience and ease-of-use On the topic of the Fx4, this bold limited-edition derivative – transmission.” previously only available on the “With the latest enhancements Ranger 3.2 Double Cab XLT 4x4 – introduced for the 2018 model has proven exceptionally popular year, The we new are Mahindra delighted to bakkie offer our amongst South African customers, customers even greater value for giving the muscular Ranger even money, driving convenience and greater Bolder on-road fog lamps presence. are mounted r/min, safety, and sustained as well as to 2,800 trend-setting r/ in restyled “The Ford apertures Ranger has that cement- are min, style,” ensuring Delate excellent adds. in-gear linked its to status the lower as one edge of of southern acceleration “Based and on superior strong pulling customer headlights. Africa’s The best-selling redesigned frontend overall styling and is in accompanied the light commercial by The treatment turbodiesel is now available engine is in lim- vehicles power. feedback and demand, the Fx4 16-inch vehicle alloy category, wheels. having topped linked ited to quantities a six-speed on all manual XLT Double the The monthly new bakkie vehicle has an sales updated charts on gearbox Cab driving derivatives, the rear including wheels, the 2.2- various litre four-cylinder occasions this mHawk year,” says and 2.2 will and also 3.2-litre be available models, with in both turbodiesel Tracey Delate, engine, General which makes Manager, 4x4 manual transmission and automatic with low range. transmissions,” entire Delate range states. of the “This Next makes use Marketing, of a variable at FMCSA. geometry “The 2.2 The turbocharger TDCi Auto to has produce been a 103kw. great success impressive for us, offering torque superb peak perfor- of tive Fx4 styling available to more Generation the unique Mahindra and thoroughly Pik Up are distinc- The 320 mance Nm is and reached economy at just matched 1,600 to Locking of our Differential) Ranger customers.” as standard. Building on the Ranger’s “Built Ford Tough” heritage, the Ranger Fx4 incorporates a number of distinctive styling changes, including radiator grille, fog lamp bezels, exterior mirrors, roof rails, as well as the door and tailgate handles. The 17-inch alloy wheels are supplied in an eye-catching black for the side steps, rear bumper and special Fx4 tubular sports bar located in the load bay which Fx4 decals provide an additional distinguishing touch. will also be available with a spray-in bed liner direct from the factory as an added-cost option. As a Genuine Ford Accessory Spray-in product, it is fully tested and approved according to Ford’s tions, and has been used on the Ford F150 produced at the Kansas Photos: Quickpic since 2008. The liner is a Polyurea-based two-component material that provides rugged durability and anti-slip protection for the loadbed, and is more aesthetically pleasing than some aftermarket solutions currently available. For added convenience, minor and major repairs to the spray-in liner can be done at Ford dealerships. The liner is covered by the Ranger’s standard four-year/120 000km Mahindra warranty. Interior

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New Era Newspaper Vol 22 No 167