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Oct 22, 2014
Finance Minister Nhlanhla Nene
   
Fiscal consolidation could no longer be postponed, Finance Minister Nhlanhla Nene told lawmakers on Wednesday, while also announcing a R25-billion lowering of the expenditure ceiling and flagging plans to raise an additional R27-billion through higher taxes in the...
 
Oct 22, 2014
Finance Minister Nhlanhla Nene confirmed a further direct allocation to power utility Eskom of at least R20-billion. But he also stressed on Wednesday that the injection would have no impact on the Budget deficit as the capital would be raised through the sale of...
Oct 22, 2014
Government’s plans for reining in the country’s public procurement would be outlined in the Public Procurement Review, which will be published next month. Finance Minister Nhlanhla Nene told Parliament on Wednesday that the document would “clearly” outline the...
Oct 22, 2014
National Treasury this week froze the public personnel headcount and embarked on a review of funded vacancies in an effort to curb State spending and re-establish a sustainable foundation for the public purse. In his inaugural Medium-Term Budget Policy Statement...
Oct 22, 2014
Government aimed to fast-track certain “fast-growing” infrastructure programmes, despite cutting back on expenditure over the next few years, the 2014 Medium-Term Budget Policy Statement (MTBPS) revealed on Wednesday. The MTBPS, released by new Finance Minister...
Oct 22, 2014
Directors of investment holding company Combined Motor Holdings (CMH) say they are satisfied with the results achieved in the six months ended August 31, during which time the local economic environment continued to battle impediments to growth and national dealer...
Oct 22, 2014
Trade union Solidarity warned on Wednesday that ongoing restructuring and retrenchments in the information and communication technology (ICT) industry continued to put employees in the sector under “immense” pressure. This as the union claimed it had received...
Oct 22, 2014
Oct 22, 2014
Andrew Parsons
Despite several real estate investment trusts (REITs) extolling the virtues of portfolio diversification, Resolution Capital Australia MD Andrew Parsons has cautioned against this strategy, advising trusts to rather simplify and specialise their asset portfolio....
 
Oct 22, 2014
In the Medium-Term Budget Policy Statement Finance Minister Nhlanhla Nene has outlined concrete plans to consolidate South Africa’s pubic finances and restore macroeconomic balances. The proposed adjustments – lower than planned spending and increased tax revenues -...
Oct 22, 2014
Finance Minister Nhlanhla Nene
Failed South African lender African Bank Investments (Abil) is likely to re-list on the stock exchange early next year, and its government supervision will be concluded without the use of taxpayer money, Finance Minister Nhlanhla Nene said on Wednesday. The central...
Oct 22, 2014
The Competition Commission on Wednesday announced that it had unconditionally approved the merger between JSE-listed Distribution and Warehousing Network’s (Dawn’s) Watertech and Sanitaryware business with Grohe International. Under the terms of the merger agreement,...
Oct 22, 2014
Department of Trade and Industry export promotion and marketing chief director Zanele Sanni has invited manufacturing and advanced manufacturing companies from Shenzhen, China, to invest in South Africa, noting that Chinese investors could also access the additional...
Oct 22, 2014
The Embraer KC-390
Brazilian aircraft manufacturer Embraer on Tuesday rolled out the first prototype of its KC-390 military transport and air-to-air refuelling aircraft at its Gavião Peixoto plant in São Paulo state. The aircraft is the biggest type yet developed by the company and...
Oct 22, 2014
Development financier Eastern Cape Development Corporation (ECDC) on Tuesday reported a stable balance sheet for the 2013/14 financial year, boasting a net asset value of R1-billion at year-end. Speaking at the financier’s performance results at the ECDC headquarters...
Oct 22, 2014
Global crude steel output in September, at 134.4-million tonnes, was marginally lower than the 134.5-million tonnes produced in September 2013. According to the World Steel Association (worldsteel), China produced 67.5-million tonnes of crude steel in September,...
Oct 22, 2014
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