Wednesday, July 1, 2009.
From Creamer Media in Johannesburg, I'm Amy Witherden.
Making headlines today:
The Kagiso Purchasing Managers Index has risen for a second consecutive month to 37,9 points on a seasonally adjusted basis in June, compared with 37,3 points in May.
The index, which is a key measure of manufacturing activity, had, in May, shown its first increase since January with sponsors Kagiso Securities saying that the rise could offer a "glimmer of hope" for the South African economy.
However, Kagiso Securities head of fixed income securities Andre Coetzee says that, while the PMI data for May and June indicate that the worst of the "factory recession" might be over, the index is still significantly below the positive level of 50 index points
A World Bank report on information and communication technology shows that every 10% increase in high-speed Internet connections in developing countries could result in an increase of 1,3% in economic growth.
The World Bank's ‘Information and Communications for Development 2009' report found that access to affordable, high-quality Internet and mobile phone services enables development across all levels of the economy and society.
It also identified the mobile platform as the single most powerful way to reach and deliver public and private services to hundreds of millions of people in remote and rural areas across the developing world.
The expansion of access to advanced ICT services will be a key factor in sub-Saharan Africa's economic and social development.
Also making headlines:
South Africa's trade surplus helps the rand, which may ease inflation pressure.
SABMiller announces a R6-billion black economic empowerment deal
Aveng warns that its headline earnings per share could drop by up to 25% in the year ending June 2009.
And, Sasol states that its cash position is positive, while its capital expenditure programme is down by 35%.
That's a roundup of news making headlines today. For more on these and other stories, please visit engineeringnews.co.za.