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Monday, February 9, 2009.

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

Making headlines today:

On Friday, South Africa's President Kgalema Motlanthe outlined a four-point economic stimulus plan, aimed at minimising the impact of the prevailing economic crisis on the country's growth and employment prospects.

Motlanthe said that the interventions would be informed by the principles of a "countercyclical fiscal policy".

But he stressed that South African government would pursue these measures within "prudent and sustainable" borrowing parameters. It would also seek to rapidly reduce debt levels "whenever conditions turn for the better".

On Friday, communications service provider Telkom announced that the company's chief of operations, Motlatsi Nzeku, was fired.

Telkom said that a new organisational structure was required as the company changed strategic direction.

Telkom added that there were also tangible indications that recent actions by Nzeku have resulted in reputational damage amounting to defamation of the company and its leadership.

The new organisational structure was designed to provide focus for the execution of the company strategy. It was also aimed at accelerating service delivery and implementation.

Also making headlines:

PBMR puts supplier contracts on hold as it ponders design changes.
Eskom nonexecutive chairperson Bobby Godsell says power prices have to begin reflecting true costs.
Central bank Governor Tito Mboweni hints at a possible early monetary policy committee meeting.
And, President Kgalema Motlanthe says it may be premature to rule out government bailouts.

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

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