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Aveng shares leap as M&R moves closer to tie-up

By: Reuters     Updated 47 minutes ago Shareholders in South Africa’s Murray & Roberts voted on Tuesday for the company to look into a potential tie up with construction rival Aveng, sending Aveng's shares around 25% higher. The resolution got the backing of 52.06% of votes at the Murray & Roberts' (M&R) annual shareholder meeting. 

Aveng shares leap as M&R moves closer to tie-up
Photo by Creamer Media
M&R CEO Henry Laas

Eskom wage talks resume on Tuesday

By: African News Agency      Updated 2 hours 29 minutes ago Wage negotiations between the South African power utility Eskom and three key trade unions will resume on Tuesday after all parties agreed to go back to the negotiating table for three days of talks. The power utility has agreed to withdraw its zero percent wage increase offer as the unions have... 

Eskom wage talks resume on Tuesday

Airbus, Côte d’Ivoire sign agreement to develop country’s aerospace sector

By: Rebecca Campbell     Updated 3 hours ago Global aerospace major Airbus has signed a memorandum of understanding (MoU) with the government of the Côte d’Ivoire (Ivory Coast) to create a cooperation framework which, in turn, will facilitate the development of the West African country’s aerospace industry. The Côte d’Ivoire government has... 

Atterbury signs first tenant for Randport industrial development

By: Anine Kilian     Updated 48 minutes ago Contact lens manufacturer CooperVision will become the first tenant at JSE-listed Atterbury’s R850-million Randport industrial development, in Gosforth Park, Germiston, Ekurhuleni.   

Civil engineering sector concludes three-year wage deal

By: Anine Kilian     Updated 50 minutes ago The Bargaining Council for the Civil Engineering Industry (BCCEI) on Tuesday announced the signing between all parties in the civil engineering sector of a three-year settlement agreement regarding wages and conditions of employment. The parties agreed to a 7.5% wage increase across the board for... 

Nigeria power generation drops after ruptured gas pipe shuts six power stations

By: Reuters     Updated 2 hours 19 minutes ago Nigeria experienced a sharp drop in power after a gas pipeline rupture caused six power stations to halt operations temporarily, the electricity grid operator said, underscoring the chronic instability of the country's power infrastructure. The Transmission Company of Nigeria (TCN), the grid... 

Ethiopia plans to split telecoms monopoly in two to spur competition

By: Reuters     Updated 2 hours 21 minutes ago Ethiopia plans to sell a 30% to 40% stake in its State-run telecoms monopoly to big telecoms companies and will split the company in two to spur competition, Prime Minister Abiy Ahmed said on Monday. Selling stakes in its lucrative telecoms monopoly and other assets could open Ethiopia, one of... 

Selloff in iron-ore to rubber in China as US trade war widens

By: Reuters     Updated 2 hours 25 minutes ago Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy. The selloff also hit steel, copper, cotton and palm oil, as Chinese investors returned... 

Global utility ENGIE says focused on off-grid energy provision in Africa

By: African News Agency      Updated 2 hours 26 minutes ago Global utility ENGIE says it wants to focus on providing off-grid energy in Africa, with plans to expand its solar home system (SHS) and mini-grid activities. ENGIE, which is participating in the Africa Energy Forum beginning in Mauritius on Tuesday, is launching new mini-grid projects in Zambia... 

Thyssenkrupp boards working hard to get Tata Steel deal-staff memo

By: Reuters     18th June 2018 Thyssenkrupp needs to quickly clinch a deal for a planned European steel joint venture with Tata Steel, its chief executive said in an internal letter, adding this was necessary to determine the group's long-term strategy. "Therefore we are in close consultations with the supervisory board,"... 

Denel CFO placed on special leave

By: Creamer Media Reporter      18th June 2018 Denel CFO Odwa Mhlwana has been placed on special leave pending a disciplinary process into allegations of misconduct against him. Denel on Monday said its board has taken this step for the purposes of creating a conducive environment that will allow for the start of a verification process in... 

Denel CFO placed on special leave

NUM slams claims of 'sabotage' by Eskom

By: African News Agency      18th June 2018 The National Union of Mineworkers (NUM) on Monday said that Eskom was lying to the public that workers affiliated to the trade union were responsible for sabotaging work being done at the power utility's power stations across the country.  This comes as Eskom last week began implementing... 

NUM slams claims of 'sabotage' by Eskom

ATON welcomes tribunal’s M&R voting-rights ruling, despite restrictions

By: Terence Creamer     18th June 2018 Investment company ATON, which is seeking to acquire Murray & Roberts (M&R), has welcomed a Competition Tribunal ruling opening the way for it to vote all its shares at a general meeting at which M&R shareholders will vote on the merits of a proposed transaction with Aveng. The meeting is... 

ATON welcomes tribunal’s M&R voting-rights ruling, despite restrictions

Head of VW's Audi arrested in Germany over diesel scandal

By: Reuters     18th June 2018 German authorities arrested the head of Volkswagen’s luxury arm Audi on Monday, the most senior company official so far to be detained over the carmaker’s emissions test cheating scandal. Munich prosecutors, who earlier this month widened their probe into Audi, said Rupert Stadler was being held... 

State capture at heart of Eskom’s load-shedding woes – Maimane

By: News24Wire      18th June 2018 Diversifying the energy mix, reducing demand and putting an end to the Eskom monopoly in the energy sector are some of the proposals the Democratic Alliance (DA) has made to mitigate load-shedding. Speaking during a briefing at Parliament on Monday, DA leader Mmusi Maimane stressed that... 

 State capture at heart of Eskom’s load-shedding woes – Maimane
Photo by Creamer Media
DA leader Mmusi Maimane

Num denies reports it wanted to postpone wage talks with Eskom

By: African News Agency      18th June 2018 The National Union of Mineworkers (Num) on Monday slammed reports that it had called for the postponement of wage negotiations with power utility Eskom because of its congress this week.  "The Num congress is starting on Wednesday at the Birchwood Hotel and that will not affect the wage... 

 Num denies reports it wanted to postpone wage talks with Eskom

Sanral’s transformation policy ready for submission to Cabinet

By: Creamer Media Reporter      18th June 2018 The final version of the South African National Roads Agency Limited’s (Sanral’s) transformation policy, which is aimed at reshaping the construction and engineering sectors, will now be submitted to Cabinet for approval. The roads agency first unveiled the draft policy in September 2017. 

Sanral’s transformation policy ready for submission to Cabinet

London, other cities call for new petrol and diesel car ban to start earlier

By: Reuters     18th June 2018 London Mayor Sadiq Khan and other city leaders from across Britain said on Monday a government plan to ban the sale of new diesel and petrol cars should be brought forward by ten years to 2030, in the latest push to improve air quality. Prime Minister Theresa May's Conservative government said... 

Swiss place efficiency at heart of post-nuclear energy strategy

By: Terence Creamer     18th June 2018 Residents taking occupation of apartments at a new mixed-use property development on the site of a decommissioned paper mill in southern Zurich, Switzerland, are all encouraged to download a neighbourhood App to their mobile devices. The social media component, which allows Greencity residents... 

Swiss place efficiency at heart of post-nuclear energy strategy
Photo by Empa
Testing new building innovations at the Empa NEST

PPC delivers on strategic priorities, posts higher FY18 headline earnings

By: Simone Liedtke     18th June 2018 Cement producer PPC on Monday posted a 172% year-on-year increase in headline earnings to R231-million for the financial year ended March 31, while gross profit rose 3% on a strong performance by the group’s operations in Zimbabwe and Rwanda. The group’s cement sales volumes increased by 6% to... 

PPC delivers on strategic priorities, posts higher FY18 headline earnings
PPC CEO Johan Claassen

Over 1 000 international delegates gather in Cape Town to find ways of adapting to global climate change

By: News24Wire      18th June 2018 In the beginning the conversation about global climate change focused on cutting greenhouse gas emissions to keep Earth's temperatures from rising dangerously high. Later, another conversation developed alongside the first, which said even if we stopped all greenhouse gas emissions today, we... 

Eskom says low probability of day-time load-shedding

By: African News Agency      18th June 2018 State electricity company Eskom said on Monday there is a low probability of rotational load-shedding during the day as a result of power station units being returned to the system after last week's wage strike, but the probability was higher for the evening peak period due to increased demand.... 

Eskom says low probability of day-time load-shedding

Eskom says power system will take up to 10 days to recover from strike impact

By: News24Wire      18th June 2018 State electricity company Eskom said late on Sunday its power system remained constrained and would take up to ten days to recover from the effects of last week's wage strike. Eskom warned consumers to work on the assumption that rolling power interruptions, or loadshedding, implemented over the... 

 Eskom says power system will take up to 10 days to recover from strike impact

Agrément South Africa officially launched as a Public Works entity

By: Marleny Arnoldi     15th June 2018 Public Works Minister Thulas Nxesi on Friday launched technical agency Agrément South Africa as a fully-fledged legal entity of the Department of Public Works (DPW).  

PPC expects up to 65% increase in FY18 net profit, but lower Ebitda

By: Marleny Arnoldi     15th June 2018 Cement producer PPC expects its net profit attributable to shareholders for the financial year ended March 31 to increase by 55% to 65%, compared with the R93-million achieved for the prior comparable period.  

Basil Read enters business rescue

By: Irma Venter     15th June 2018 Basil Read on Friday announced that it has entered voluntary business rescue, as provided for by Section 129 of the Companies Act. Shares in the construction group plummeted 94% in afternoon trade, from a high of 22c to a low of 1c. 

Basil Read enters business rescue

Centrica, Tokyo Gas join Anadarko's Mozambique LNG project as buyers

By: Reuters     15th June 2018 Britain's Centrica and Japan's Tokyo Gas have signed a non-binding agreement to buy liquefied natural gas (LNG) from Anadarko Petroleum's Mozambique acreage, a deal that will help the US company reach a final decision on the project. Centrica and Tokyo Gas will buy 2.6-million tonnes of LNG per... 

Porsche to start production of first full electric car in 2019

By: Irma Venter     15th June 2018 Series production of the first purely electric Porsche, the Taycan, is set to begin next year. The name can be roughly translated as “lively young horse”, referencing the imagery at the heart of the Porsche crest, which has featured a leaping steed since 1952. 

Porsche to start production of first full electric car in 2019
The Porsche Taycan

Gordhan lays out State's case against suspended Sars boss Moyane  

By: News24Wire      15th June 2018 Public Enterprise Minister Pravin Gordhan has laid out the State's case against suspended South African Revenue Service (Sars) commissioner Tom Moyane in a 69-page affidavit. Moyane was suspended from the tax agency on March 19. President Cyril Ramaphosa at the time accused him of overseeing a... 

 Gordhan lays out State's case against suspended Sars boss Moyane
Suspended Sars boss Tom Moyane

Numsa rejects Eskom arbitration process

By: African News Agency      15th June 2018 The National Union of Metalworkers of SA (Numsa) on Friday rejected Eskom's decision to engage in an arbitration process on the current wage dispute with workers unions, saying that such a decision was made without consulting them. Numsa, the National Union of Mineworkers (Num), and Solidarity... 

Numsa rejects Eskom arbitration process

South Africa chairs International Telecommunications Satellite Organisation for first time

By: Creamer Media Reporter      15th June 2018 Telecommunications and Postal Services Minister Dr Siyabonga Cwele has been elected chairperson of the International Telecommunications Satellite Organisation (ITSO) for the next two years. This is the first time South Africa is chairing ITSO, which is a 150-member intergovernmental organisation... 

'High risk' of load shedding over weekend

By: News24Wire      15th June 2018 South Africa on Friday experienced its second consecutive day of load shedding, with power outages likely to continue over the weekend.  Eskom spokesperson Khulu Phasiwe said that stage 1 load shedding started at 11:30 and would continue until 21:00 due to "multiple trips of its power generation... 

'High risk' of load shedding over weekend

Eskom obtains court interdict against workers pickets at power stations

By: African News Agency      15th June 2018 Eskom on Friday obtained a court interdict prohibiting the intimidation of workers and contractors who are not part of an ongoing wage strike, as well as the highjacking of coal trucks and the sabotaging of the power utility's electricity infrastructure.  On Thursday, generation and distribution... 

Eskom obtains court interdict against workers pickets at power stations

More petrol price hikes for SA: 'Oil down but Rand pummels fuel price' – AA

By: News24Wire      15th June 2018 Motorists will have to brace themselves as fuel prices look set for another jump going into July, says Automobile Association (AA), commenting on unaudited mid-month fuel data released by the Central Energy Fund (CEF).   AA said: "Since the start of June, the Rand has steadily weakened against... 

More petrol price hikes for SA: 'Oil down but Rand pummels fuel price' – AA

World Economic Forum to discuss SA's reform agenda in Joburg

By: African News Agency      15th June 2018 The World Economic Forum (WEF) said on Friday that it will convene a one-day roundtable later this month with President Cyril Ramaphosa, ministers and business leaders from across the world about the role of business in shaping an inclusive and sustainable agenda for South Africans. Elsie Kanza,... 

 World Economic Forum to discuss SA's reform agenda in Joburg

Minerals Council, water dept collaborate on water conservation, demand management project

By: Creamer Media Reporter      15th June 2018 The Department of Water and Sanitation (DWS) and the Minerals Council South Africa (MCSA) have reached a significant milestone in a collaborative exercise on water conservation and water demand management aimed at driving water savings and usage improvements in the mining industry. The... 

Minerals Council, water dept collaborate on water conservation, demand management project

City of Johannesburg slams Eskom over power cuts

By: Reuters     15th June 2018 The city of Johannesburg said late on Thursday that State-owned electricity company Eskom had failed to give adequate notice before implementing scheduled power interruptions, or loadshedding, to relieve pressure on the grid in the face of a wage strike. "Despite the city receiving communication... 

BLSA extends partnership with USAID, $3m added

By: African News Agency      15th June 2018 Business Leadership South Africa (BLSA) and the United States Agency for International Development (USAID) on Thursday announced the extension of their multi-million rand partnership by a further three years and an additional $3.6-million. Beyond Advocacy Fund (BAF), is an imaginative partnership... 

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