Latest news with #PIC
IOL News
a day ago
- Business
- IOL News
Matshepo More, PIC return to CCMA after unfair dismissal ruling
Former Public Investment Corporation chief financial officer Matshepo More is returning to the Commission for Conciliation, Mediation and Arbitration (CCMA), where her erstwhile employer is challenging a CCMA ruling in her favour. Image: Screenshot Former Public Investment Corporation (PIC) chief financial officer Matshepo More is heading back to the Commission for Conciliation, Mediation and Arbitration (CCMA), which previously ordered her reinstatement and awarded her over R6.7 million in compensation. In September 2022, CCMA commissioners Cameron Morajane and Nthabiseng Thokoane declared her dismissal substantively and procedurally unfair, and she was reinstated. The PIC was ordered to pay the costs, and in a supplementary award, the commissioners quantified her backpay and costs due at more than R6.74m and R39 000, respectively. More was fired by the PIC in October 2021 after being found guilty of misconduct. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ She was charged after approving R350m revolving credit facility to the now defunct VBS Mutual Bank in 2014, which was outside her delegation of authority. The PIC accused More of recommending the then chief executive, Dr Dan Matjila, to enter into the revolving credit facility agreement in breach of her duty to ensure that the terms of the agreement complied with the fund investment panels' approval before providing the confirmation and recommending that it be signed. More then referred her unfair dismissal dispute to the CCMA, where she argued that the alleged misconduct constituted a breach of contract. The CCMA found that the claim (charging and dismissal) that the PIC has against More is extinct through the running of uninterrupted prescription. The commissioners deemed the charges and subsequent dismissal incompetent. In addition, the commissioners stated that as the instruction was in contravention of the delegation of authority, More's dismissal was therefore premised on an unlawful and unreasonable instruction and the charges and the subsequent dismissal were unfair. 'More has succeeded in her claim for prescription. The outcome is that the dismissal is substantively and procedurally unfair. The instruction issued by Dr Matjila as found above was unreasonable and unlawful,' the CCMA ruled. The PIC then approached the Labour Court in Braamfontein, Johannesburg, arguing that the commissioners committed a material error of law. Last month, Labour Court Judge Connie Prinsloo reviewed and set aside the CCMA's arbitration award and the supplementary award. 'The matter is remitted to the CCMA for arbitration de novo by a senior commissioner or commissioners, as the case may be, other than the third and fourth respondents (Morajane and Thokoane),' reads Judge Prinsloo's judgment, adding that the record of proceedings generated the supplementary case shall serve as the evidence before the appointed commissioner or commissioners. The arbitration de novo (afresh) is to be conducted on such terms and in such manner as the appointed commissioner or commissioners may determine, and the CCMA was directed to enrol the matter for arbitration. Attempts to contact More were unsuccessful at the time of publication.
Yahoo
3 days ago
- Business
- Yahoo
TPIsoftware Accelerates Taiwan's Retail Tech Leader President Information Corporation (PIC) IT Modernization with MIT Software
TAIPEI, May 27, 2025 /PRNewswire/ -- TPIsoftware (TWSE: 7781) and President Information Corporation (PIC), an IT solution provider affiliated with Taiwan's largest retail and convenience store operator Uni-President Group, have joined hands to promote innovative, reliable retail services. Specializing in Digital Transformation as a Service (DXaaS), TPIsoftware provides a diverse array of products and solutions that empower businesses across industries to navigate the ever-evolving digital landscape. The company's API management platform digiRunner has proven robustness in connecting APIs across systems, applications and third-party services to ensure interconnectivity, operational efficiency and integrated experiences. digiRunner helps PIC bring new features and updates to users faster by using a scalable, container-based design, allowing iteration and shortened service launch times. Sensitive information is secured against cyberthreats with access controls, data encryption and API keys for enhanced authentication and authorization. These features in digiRunner ensure responsive user experiences, strengthen confidentiality and reduce risks of breaches. The platform enables compliance with standard measures like OAuth 2.0 when connecting third-party services and applications. In case of burst traffic like the holiday season, websites and apps can slow down or crash because of the heavy load. digiRunner's ability to dynamically distribute API requests helps prevent interruptions and system overload while reducing latency in service delivery. With digiRunner's smart caching that stores frequently accessed data, users are guaranteed a faster, smoother experience—especially for online shopping and retail services. "Retail ecosystems face challenges in real-time data exchange, payment integration, transaction processing and the management of customer data and membership systems," commented PIC. "Incorporating digiRunner as part of our API strategy allows us to integrate APIs distributed across systems, providing data interoperability in a seamless, meaningful way. Also, security controls are facilitated to effectively secure data against unauthorized access and misuse. TPIsoftware drives our modernization into action, allowing stable, trusted services as well as enriched experiences for our customers." "With a solid track record of successful implementations in the financial services sector, we are proud to partner with Taiwan's retail tech leader PIC to create a fully integrated system solution—especially at a time when labor constraints and operational inefficiencies hinder retailers' ability to transform," said Yilan Yeh, TPIsoftware's General Manager. "By addressing IT bottlenecks with compliant, scalable and market-proven digital solutions like digiRunner, we help clients achieve tangible outcomes and maximize business value, empowering them to advance their digital transformation journey." View original content to download multimedia: SOURCE TPIsoftware Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Scotsman
4 days ago
- Entertainment
- Scotsman
Sunset Song church in rural community that inspired novel to be sold
Arbuthnott Church is to go up for sale Sign up to our History and Heritage newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... It is the church in the heart of Sunset Song country and the final resting place of author Lewis Grassic Gibbon. Now, a campaign to save Arbuthnott Church near Inverbervie in Aberdeenshire is gaining momentum after the Church of Scotland announced it was to sell off the kirk as it seeks to save money and reduce its assets. Advertisement Hide Ad Advertisement Hide Ad Grassic Gibbon - real name James Leslie Mitchell - grew up on nearby Bloomfield Farm, with his childhood in the Mearns inspiring his unflinching and then controversial portrait of rural life. Arbuthnott Church, also known as the Kirk of St Ternan, is the final resting place of Lewis Grassic Gibbon, author of Sunset Song. He was raised on a farm nearby. PIC: CC/Rob Hickling. | CC/Rob Hickling. It is likely that he attended the church as a boy with the old Arbuthnott Primary School then just next door. Despite leaving Scotland for England and settling in Welwyn Garden City in 1925 after a spell in the RAF, his ashes were brought back to the churchyard at the heart of the farming community which inspired him. Now, after the Kirk announced the sale of the church, a group of residents is hoping to buy the building and develop the author's legacy in Sunset Song country. Advertisement Hide Ad Advertisement Hide Ad Residents Charles Roberts-McIntosh, of Fordoun, said a charity would be set up to buy the church, which dates to the 13th Century and survived the Reformation. Mr Roberts-McIntosh said that Grassic Gibbon described in Sunset Song the light coming in the east window of the church during a morning service. 'It does indicate that he attended services here. The walk across the back from Bloomfield over the fields and by-ways actually takes you down to the Grassic Gibbon Centre and then down to the church.' He added: 'The church, well it is history. Advertisement Hide Ad Advertisement Hide Ad 'We want to buy the church and develop artistic and cultural links, from music concerts to book festivals, anything that is linked to its heritage. 'It is not going to just be a shrine. We want to develop what Grassic Gibbon started.' Vivien Heilbron, who played lead character Chris Guthrie in the original dramatisation of Sunset Song, earlier said she was 'sad and mystified' that the church was due to close. The small congregation is set to move to Bervie Church following the closure, which the Church of Scotland said should happen by the end of the year. Advertisement Hide Ad Advertisement Hide Ad Ms Heilbron said: 'I remember the church was a beautiful building when we filmed there. 'I am sad and mystified that it will close. 'It is not the first time that Scotland has not quite honoured the people who represent her so well.' Meanwhile, Alan Riach, Professor of Scottish Literature at Glasgow University said he was 'appalled' by plans to close the church. He reportedly said: 'This is one of the great places of pilgrimage in literary Scotland.' Advertisement Hide Ad Advertisement Hide Ad Professor Riach said he visited Arbuthnott Kirkyard with students to visit the memorial stone to the author and his wife Rebecca, or Ray Middleton, who was also raised on a nearby farm. A Church of Scotland spokesperson said the Kirk needed 'radical change' against a backdrop of falling visitor numbers, a decline in membership and a reduction in income both nationally and locally. Presbyteries across the country were asked in 2021 to decide their future directions, with the decision then taken to dispose of Arbuthnott following that process. A church statement added; 'We believe a significant reduction in the number of buildings we own is necessary in order to deliver sustainable and realistic new expressions of ministry and church and to ensure all of our buildings are suitable for the needs of mission in the 21st century. Advertisement Hide Ad Advertisement Hide Ad 'We recognise that Arbuthnott Church, as with many other church buildings across the country, is important and valuable to the local community.' It is hoped, following its sale, that the church can be used for special services, such as Watch Night and Harvest.
Zawya
4 days ago
- Business
- Zawya
Kuwait PIC, China's Wanhua Chemical Group sign deal to boost cooperation
KUWAIT - The Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation (KPC), signed a Memorandum of Understanding (MoU) on Sunday with Chinaآ's Wanhua Chemical Group to strengthen bilateral cooperation in the petrochemical sector. The memorandum was signed at the Ahmad Al-Jaber Oil and Gas Exhibition by PIC CEO Nadia Al-Hajji and Wanhua Chemical President Kou Guangwu, in the presence of Yantai government representative, Vice-mayor Yu Shengtao. This agreement marks a new step in the partnership between the two companies, building on a strategic agreement signed in April under which PIC acquired a 25 percent stake in several Wanhua petrochemical plants in Yantai, China. The memorandum aims to enhance collaboration across various areas, including research and development, value chain development, and expanding market reach in high-growth regions. Al-Hajji noted that this partnership aligns with PICآ's 2040 strategy of smart investments and sustainable growth, highlighting the dedication of both teams in turning plans into actionable steps. Kou Guangwu emphasized the mutual benefits of the partnership, stressing its role in fostering innovation and operational excellence to support economic growth in both countries. The Chinese delegation also toured the Ahmad Al-Jaber Exhibition, where they learned about Kuwaitآ's oil industry history, exploration, production, storage, transport, and downstream operations. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
4 days ago
- Business
- Asharq Al-Awsat
Kuwait, China Sign MoU to Enhance Cooperation in Petrochemical Sector
The Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation (KPC), signed on Sunday a memorandum of understanding (MoU) with China's Wanhua Chemical Group to enhance cooperation in the petrochemical sector. The agreement was signed by PIC CEO Nadia Al-Hajji and Wanhua Chemical President Qu Guangguo at the Ahmad Al-Jaber Oil and Gas Exhibition. The signing ceremony was attended by Yu Xingtao, a representative of the Chinese government in Yintai, PIC said in a statement published by Kuwait's state-owned news agency, KUNA. The MoU aims to open new avenues for collaboration in key areas such as research and development, integrated value chains, and market expansion into high-growth regions. It also builds upon a broader strategic agreement signed between the two companies in April, which included Wanhua Chemical's acquisition of a 25% stake in a cluster of petrochemical plants in Yintai, China. Al-Hajji noted that the facilities involved in the agreement specialize in producing high-value petrochemical products, saying the partnership will invigorate the sector and foster stronger industrial cooperation between the two nations. She emphasized that the collaboration is designed to generate added value and mutual benefit. Al-Hajji said the newly signed MoU marks the beginning of a deeper partnership aligned with PIC's 2040 strategic vision, which emphasizes smart investments and planned expansion. She commended the efforts of the joint working teams from both sides, who, through months of dedication and professionalism, successfully translated strategic plans into actionable milestones. For his part, Qu Guangguo affirmed that the visit underscores the growing relationship with PIC, highlighting the MoU's role in promoting innovation, operational excellence and economic growth in both countries. In April, PIC said it has signed an agreement to acquire a 25% stake in China's Wanhua Chemical Group. The agreement includes specialized industrial units to produce Propylene Oxide (PO), Tertiary Butyl Alcohol (TBA), Acrylic Acid (AA), Butyl Acrylate (BA) and several other products, contributing to the diversification of the company's high-value product portfolio.
