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Feb 12, 2016
   
Updated 42 minutes ago ArcelorMittal South Africa (AMSA) on Friday posted a full-year loss that was 23 times wider than its loss of a year earlier, as the steelmaker grappled with cheap imports from China and rising labour and electricity costs. The ArcelorMittal SA unit, which is...
 
Feb 11, 2016
President Jacob Zuma
President Jacob Zuma unveiled the skeleton of what he described as an economic “turnaround plan” in a State of the Nation Address dominated by the current plight of the South African economy, which was unlikely to grow by more than 1% in 2016 and would not nearly...
Feb 12, 2016
President Jacob Zuma
Updated 1 hour 34 minutes ago President Jacob Zuma’s State of the Nation speech was filled with old ideas, according to Nomura emerging markets economist Peter Attard Montalto on Thursday. The removal of two centres of government has been considered since 1994, but never happened, said Montalto.
Feb 12, 2016
Trade and Industry Minister Dr Rob Davies
Updated 1 hour 18 minutes ago South Africa President Jacob Zuma’s State of the Nation Address would be welcomed by investors, the country’s Trade and Industry Minister Dr Rob Davies said on Thursday night. Additionally, Davies predicted that Sona would impact positively on the department’s...
Feb 12, 2016
Updated 52 minutes ago President Jacob Zuma has announced that R7-billion has been committed to new port facilities. Delivering his State of the Nation Address in Parliament on Thursday night, Zuma said government was concerned that South Africa did not own vessels while the country was...
Feb 12, 2016
Updated 1 hour 22 minutes ago South Africa’s representative at the Brics New Development Bank, Vice President Leslie Maasdorp, said emphasis on the National Development Plan was the highlight of the State of the Nation Address on Thursday. “What the president did tonight – despite the disruptions...
Feb 12, 2016
Updated 1 hour 41 minutes ago Demand for shipping containers as an alternative building material has increased across South Africa and the continent, with many companies discovering both uses and a wide variety of creative and socially uplifting applications for them, from student accommodation...
Feb 11, 2016
Kobus van Zyl
Daimler Trucks & Buses Southern Africa (DTBSA) announced on Thursday that it had expanded its area of responsibility from South Africa, Lesotho, Botswana, Namibia and Lesotho, to also include Malawi, Mozambique, Zimbabwe and Zambia, through the formation of the...
Feb 11, 2016
South Africa’s Competition Commission has recommended the Competition Tribunal conditionally approve the proposed merger between Gupta-owned Tegeta Exploration, Glencore’s Optimum coal mine and six target firms. The commission found that the proposed transaction was...
 
Feb 12, 2016
Jacob Zuma
Updated 1 hour 27 minutes ago South Africa will not reach its growth target of 5% per year, President Jacob Zuma said in his State of the Nation Address. The National Development Plan stipulates that South Africa’s economy needs to grow by at least 5% annually to make a meaningful dent in...
Feb 11, 2016
Incoming joint Sasol CEO Bongani Nqwababa
Incoming joint Sasol CEO Bongani Nqwababa believes “simplistic” correlations of the company’s performance to the oil price will become less relevant in coming years as the revenue and profit contribution of its chemicals business rises in line with its large North...
Feb 11, 2016
Despite ending the year better than expected, South Africa’s manufacturing production prospects for 2016 remained “dim”, stated BNP Paribas securities economist Jeffrey Schultz on Thursday. Manufacturing production ticked up 0.4% year-on-year in December 2015,...
Feb 11, 2016
Cement and concrete manufacturer Lafarge South Africa has confirmed that about 800 of its employees will embark on a protected strike on Thursday evening. Following extensive negotiations, the company and the National Union of Mineworkers (NUM), had not been able to...
Feb 11, 2016
Following six years of negotiations between governments, the aviation industry and environmental group observers, the International Civil Aviation Organisation (Icao) has designed the world’s first carbon dioxide (CO2) efficiency standard for aircraft. The standard,...
Feb 11, 2016
JSE-listed ceramic tiles manufacturer Italtile has reported a systemwide turnover increase of 13% to R3.08-billion, while same-store revenue improved by 11% in its financial overview of the six months ended December 31, 2015. During the period, six new TopT stores...
Feb 11, 2016
Little Foot
Two new specimen have been found in a chamber at the Sterkfontein Caves, Witwatersrand University said on Thursday. The specimen, a finger bone and a molar, are part of a set of four specimens associated with early stone tools dated to 2.18-million years ago, the...
Feb 11, 2016
South Africa’s current strained trade conditions “closely resembled” the conditions experienced post the financial recession in 2007/8, the South African Chamber of Commerce and Industry’s (Sacci’s) latest survey found. The January edition of the Trade Conditions...
 
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