Feb 26, 2009
Daily podcast – February 26, 2009Back
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Thursday, February 26, 2009.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
A joint government-industry task team has been established to draw up recommendations on bringing relief to the embattled automotive industry.
The team was expected to finish this document within the next two to three weeks, and to then present its findings to Trade and Industry Minister Mandisi Mpahlwa.
National Association of Automobile Manufacturers of South Africa director Nico Vermeulen said that the task team would look at three basic things. It would look at ways to enhance the cash flow of companies, to stimulate vehicle demand, and to ensure employment stabilisation.
He said the task team would also focus on the methods used in other countries to safeguard their automotive manufacturing bases.
However, the delay is not due to any technical, contractual, or political problem, but simply the result of a rescheduling of programmed launches by the Russian space agency Roscosmos. The agency has had to bring forward a manned mission to the International Space Station.
SumbandilaSat should arrive in Russia any day now, to be prepared for launch. It takes some 40 days to prepare a satellite for its flight, including its integration on to the topmost stage of its carrier rocket. It will be carried into orbit by a Soyuz launch vehicle. SumbandilaSat will form a secondary payload for the rocket, the primary being a Russian Meteor M weather satellite.
JSE-listed shipping and logistics company Grindrod's earnings surge to over 2-billion-rand.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
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