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Apr 30, 2009

Daily podcast – April 30, 2009

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This podcast is brought to you by Ukwazi Mining Solutions - bringing relevant mining engineering and strategic consultancy services to a dynamic industry.

Thursday, April 30, 2009.

From Creamer Media in Johannesburg, I'm Christy van der Merwe.

Making headlines today:

Government has handed Mercedes-Benz South Africa and MAN Truck & Bus the contracts to supply 570 buses of the 830-strong fleet, which would transport spectators, officials and players for the 2010 FIFA World Cup.

Transport Minister Jeff Radebe said that government was providing a 1,4-billion-rand guarantee for the purpose of acquiring the 570 buses from the local subsidiaries of the German companies.

MBSA would supply the 168 semi-luxury and 292 intercity buses required for the global sports event. MAN would supply the 110 general spectator buses.

MBSA has a bus assembly facility in East London, while MAN has a plant in Midrand.

South Africa's targeted consumer price inflation slowed less than expected to 8,5 percent year-on-year in March. However, this data shouldn't deter the central bank from cutting rates sharply this week.

Statistics South Africa said headline CPI inflation braked only marginally from 8,6 percent year-on-year in February, while monthly inflation stood at 1,3 percent in March compared to 1,2 percent previously.

A poll of 14 economists by newswire Reuters forecast CPI would slow to 8,4 percent year-on-year and come in at 1,2 percent on a monthly basis.

The Reserve Bank lifted interest rates by 500 basis points between June 2006 and June 2008 in a bid to rein in inflation. Inflation has persisted above the top end of a 3 to 6 percent target band since April 2007.

Also making headlines:

Steel producer ArcelorMittal South Africa's shares rise on the 3,9-billion-rand buyback prospect.
Members of the National Union of Metalworkers of South Africa protest outside the Reserve Bank over interest rates.
The ruling ANC says that the fiscal and monetary policies will remain in place.
And, Zimbabwe has secures $400-million-dollars in credit lines from African states to revive its ailing industries.

That's a round up of news making headlines today. For more on these and other stories please visit


Edited by: Shannon de Ryhove
Creamer Media Senior Deputy Editor Polity & Multimedia
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