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Tuesday, February 17, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

Construction and engineering firm Group Five has improved its order book back to the 13-billion-rand level. This is after nearly 4-billion-rands worth of its contracts in the Middle East were cancelled.

On Monday, CEO Mike Upton said that the group had "largely achieved the replacement" of the 4-billion-rands worth of orders that had been cancelled in Dubai, with South African public works contracts.

He said that this said something about the companies ability to extract value out of all sectors of the economy.

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Botswana's consumer inflation slowed to an eight-month low of 12,8% year-on-year in January. This is largely on lower fuel costs.

The Central Statistics Office said in a statement that inflation eased from 13,7% year-on-year in December, following a drop in bus and taxi fares late last year and a relatively large fall in fuel pump prices in January.

January's number was the lowest since May last year and may help ease pressure on interest rates, although inflation remains way outside the central bank's 3 to 6% target.

Also making headlines:

Jacob Zuma's economic team selections will be a ‘crucial signal to investors'.
The French Senate reveals the extent of the transport aircraft programme crisis.
A renewable-energy operated research base is opened in Antarctica.
And, India unveils its manned spacecraft design.

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