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Monday, January 5, 2009.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
South African petrol pump prices will fall by about 18% this week to the lowest price since March 2007. This is due to a drop in the international oil price. It will help ease inflation.
On Friday, a statement from the minerals and energy department said the most widely used 95 octane petrol would drop by R1,34 a litre on January 7 to R6,01 in Gauteng from R7,35 previously.
Wholesale diesel prices will fall by about 20%.
South Africa is a net importer of oil and adjusts its fuel price monthly, taking into account changes in the rand currency, oil price and government levies.
Paper manufacturer Sappi has completed the acquisition of M-real Corp's coated graphic paper unit.
Sappi said in a regulatory announcement that all the conditions to the deal had been met. The transaction closed on December 31.
The firm said in September that the 750-million Euro deal would increase its European graphic-paper capacity from 2,6-million tons to 4,5-million tons a year. It would also expand the company's wood-free coated product offering and customer base.
Also making headlines:
Mobile operator Vodacom completes the purchase of African network and satellite services firm Gateway.
South Africa's trade deficit widened to R12,1-billion in November.
Ethiopia's three new hydropower projects will create a power surplus.
And, Zambia's state telephone utility will increase its spending on mobile subscriptions and a fibre optic network.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.