Latest news with #Rand
The Star
2 days ago
- The Star
Former Umzimkhulu municipal official arrested for the murder of ANCYL leader Sindiso Magaqa
A former senior Umzimkhulu municipal official has been arrested for the murder of former African National Congress Youth League (ANCYL) secretary-general Sindiso Magaqa by the Political Killings Task Team. National police spokesperson, Athlenda Mathe, said the 55-year-old suspect was arrested on Monday in Malvern, Durban, KwaZulu-Natal. Mathe added that he is expected to appear at the Umzimkhulu Magistrate's Court on Tuesday, July 29, 2025. Meanwhile the hitman, Sibusiso Ncengwa was recently sentenced to 85 years in prison. During his trial, Ncengwa implicated other people in plotting and coordinating the assassination. His two alleged accomplices were former police officer Sibonelo Myeza and businessman Mbulelo Mpofana. The third accomplice, Mlungisi Ncalane, will not see his day in court as he had been declared mentally unfit to stand trial and has been confined to a mental institution. Ncengwa is now expected to testify against the two other accused, who were allegedly present during Magaqa's shooting on July 13, 2017. Two councillors, Jabulile Msiya and Nonsikelelo Mafa, who were with Magaqa during the attack at a car wash, were also shot but survived. Another alleged accomplice, Jabulani Mdunge, who allegedly sprayed Magaqa and others with AK-47 bullets, died in a shootout with police. During the mitigation of his sentence, Ncengwa confessed that a day before the shooting, he went to Umzimkhulu from Durban to confirm Magaqa's identity. On the day of the murder, he spotted Magaqa arriving at the car wash he often frequented. The assailants were paid a total of more than half a million Rand for the murder. Magaqa was killed for speaking out against a corruption-riddled tender to construct a local memorial hall. [email protected] IOL News Get your news on the go, click here to join the IOL News WhatsApp channel
eNCA
6 days ago
- Business
- eNCA
Review of Free State municipalities
MATJHABENG LOCAL MUNICIPALITY - A governance crisis in the Free State Province is getting worse. In one of the worst situations Matjhabeng Local Municipality has been able to wrack up a water bill of R8.1 billion for yars. Kopanong Municipality has not been paying pension fund contributions of its workers to the value of hundreds of millions of Rand. Other municipalities have been accused of prioritizing exorbitant salaries for high officials over service delivery. MPs have been on the ground to determine what's going on. The Portfolio Committee on Cooperatie Governance and Traditional Affairs or COGTA is leading a two-day oversight visit in conjunction with the Premier of the Free State and a provincial MEC.
Time of India
21-07-2025
- Business
- Time of India
Trump admin takes first step towards a wage-linked weighted selection process for H-1B visas
Trump admin takes first step towards a wage-linked weighted selection process for H-1B visas The Trump administration is working on a new rule to create a 'weighted selection process' for H-1B cap visas. Weights are likely to be assigned, based on the salary offered to the foreign beneficiary (individual who is being sponsored for the H-1B visa by an American employer). The writing was on the wall. Now it is much clearer. Recently, the Department of Homeland Security (DHS) submitted a proposed rule to the Office of Information and Regulatory Affairs (OIRA), which is the White House office that reviews rules. Post its review, the rule will be published in the Federal Register kicking off the process of implementation of a final rule. The process could take several months as it also involves keeping a window open for inviting public comments and reviewing. 'But they are moving fast, so that could happen within the calendar year,' said Doug Rand, a former DHS official. It may be recalled that in early January 2021, with just a few days left for the Biden administration to take charge, the annual H-1B cap lottery process (which was a random selection process) was replaced with a wage-based selection process vide a final rule. Under this, H-1B cap visas were to be allocated according to wage levels, giving priority to those earning the highest salaries in their respective occupations and geographic areas of employment. In effect, the H-1B cap visas were to be awarded first to beneficiaries in Level 4 (which is the highest of the four wage categories and covers very experienced workers), then to those at Level 3, and so on, until the annual quota of 85,000 has been met. This rule was frozen by the Biden administration and subsequently vacated by a court order. The revived proposal by the Trump administration could be similar. Rand points out, 'When the US Congress established the H-1B program in 1990 as a temporary work visa for professionals in 'specialty occupations', many of today's occupations didn't exist. American businesses get no more than 85,000 new H-1B cap slots each year; but the demand is 4-5 times higher.' Indians are major H-1B beneficiaries. For the fiscal ended September 2023, they accounted for 68,825 (58%) of initial employment visas and 2.10 lakh (79%) of extensions, far outpacing China, the second-largest source, with significantly lower allotments of 16,094 and 29,250, respectively. Thus, any change will significantly impact Indians aspiring to work in the US. Rand states that there is a difference between long-term employers (such as MNCs, thousands of startups, small business and community hospitals) and the short-term employers – which could include a handful of unscrupulous staffing companies. 'Heedless of this distinction, the Trump administration is about to (re)attempt a major change to the H-1B lottery. It sounds reasonable at first to allocate scarce H-1Bs to the highest-paid workers in each occupation. But, this would be disastrous in practice. Sure, it might force the short-term H-1B employers to either pay their workers more or get out of the business. But the long-term H-1B employers typically hire early-career researchers, engineers, doctors, and other professionals, often fresh out of US graduate school. They may be well-compensated, but they wouldn't hit the top quartile, so they would be effectively frozen out of the lottery selection process,' explains Rand. Education experts point out that typically international students transitioning to H-1B visas after completing their optional practical training (which is three years for STEM students) are hired at entry levels. Higher wages will make it difficult for companies to hire them. Immigration attorneys also hold the view that it would adversely impact the health sector, scientific research and certain hospital positions.
Business Wire
21-07-2025
- Business
- Business Wire
Rand Capital Announces Second Quarter 2025 Financial Results Conference Call and Webcast
BUFFALO, N.Y.--(BUSINESS WIRE)-- Rand Capital Corporation (Nasdaq: RAND) ('Rand' or the 'Company'), a business development company providing alternative financing for lower middle market companies, announced that it plans to release its second quarter 2025 financial results before the opening of financial markets on Monday, August 4, 2025. The Company will also host a conference call and webcast to review its results that day. Second Quarter 2025 Conference Call 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Monday, August 18, 2025. To listen to the archived call, dial (412) 317-6671 and enter replay PIN 13754384. The webcast replay will be available in the investors' section at where a transcript will also be posted once available. ABOUT RAND CAPITAL Rand Capital Corporation (Nasdaq: RAND) is an externally managed business development company (BDC). The Company's investment objective is to maximize total return to its shareholders with current income and capital appreciation by focusing its debt and related equity investments in privately-held, lower middle market companies with committed and experienced managements in a broad variety of industries. Rand primarily invests in businesses that have sustainable, differentiated and market-proven products, revenue of more than $10 million and EBITDA in excess of $1.5 million. The Company's investment activities are managed by its external investment adviser, Rand Capital Management, LLC. Additional information can be found at the Company's website where it regularly posts information:
IOL News
16-07-2025
- Automotive
- IOL News
Support Bohlale 'Littleman' Mafokate's journey to the Ohvale Supercup in China
Young South African racing prodigy Bohlale "Littleman" Mafokate aims for international Glory in China Image: supplied Bohlale "Littleman" Mafokate, a ten-year-old racing sensation from Soweto South Africa, is on the cusp of making history by representing his country at the prestigious Ohvale Guangzhou Supercup in Guangzhou, China, from July 31 to August 4, 2025. Having dominated local racing circuits since he was four years old and securing multiple South African championships, Bohlale has earned a coveted invitation to compete against the world's best young riders. However, "Littleman" has less than two weeks to raise funds so he can reach his dream of competing on the big stage. "I've been working so hard since I was little, I'm hungry to show what South Africa can do on the world stage, China is my first big step towards racing internationally," said Bohlale. 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 ✕ His journey is nothing short of extraordinary. Starting on a pocket bike at a young age, Bohlale's natural talent, fearless focus, and dedication to training have propelled him to the top of South Africa's junior racing scene. With the departure date set for July 27 – less than two weeks away – Bohlale's dream hangs in the balance due to the significant costs associated with international travel and logistics. To help make this trip a reality, a BackaBuddy campaign has been launched to rally support from the South African public, businesses, motorsport fans, and anyone who believes in nurturing young talent and national pride. "We are bursting with pride for Bohlale. This invitation is everything he's worked for, but the reality is we have less than 14 days to secure the funds needed. We simply cannot do this alone," says the appeal on the BackaBuddy campaign page. "We are pleading with the South African public, businesses big and small, motorsport fans, and anyone who believes in supporting young talent and national pride. Every Rand donated gets Bohlale closer to that starting grid in Guangzhou." Bohlale "Littleman" Mafokate, a ten-year-old racing sensation from South Africa, is on the cusp of making history by representing his country at the prestigious Ohvale Supercup in Guangzhou, China, from July 31 to August 4, 2025. Image: supplied The Ohvale Supercup in Guangzhou represents a crucial opportunity for Bohlale to gain international experience, benchmark against global peers, and attract future sponsorship. This isn't just a trip; it's a launchpad for Bohlale's international racing dreams. For more information or to support Bohlale's campaign, visit the BackaBuddy page: or kindly contact Zenzele Mafokate on 082 6459 113 and zenzym8@ for further inquiries. 'Bohlale's story is one of talent, determination, and the pursuit of excellence on the racing track. With the support of the South African community, Bohlale can make his dream of competing in China a reality, paving the way for a promising international racing career,' said a family representative, Zenzele Mafokate.
