Jun 01, 2009
Daily podcast – June 1, 2009Back
Johannesburg|Africa|Chartered Bank|Cogeneration|Kagiso Securities|MTN Group|South African Reserve Bank|Africa|South Africa|USD|Bank|Cogeneration|Telecom Operator|Andre Coetzee|Cogeneration|Tito Mboweni
© Reuse this
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
On Monday, Kagiso Securities head of fixed income and currency futures Andre Coetzee reported that the Purchasing Managers Index for May could offer a "glimmer of hope" as it improved to 37,3 index points on a seasonally adjusted basis. This was its first rise since January.
The PMI had increased from 35,6 points in April.
Coetzee noted that it seemed as if the PMI has made a turn, but said that one would have to look at the PMI for a sustainable upward trend in the coming months to determine if it had reached the bottom. The PMI is a key measure of manufacturing activity.
Banking sources said StanChart was expecting to underwrite the full amount of the financing for the proposed deal, or as much as 5-billion-dollars. If the deal materialises, StanChart is expected to syndicate the loan.
StanChart, which is advising Bharti on the transaction, was previously reported to have agreed to underwrite 1-billion-dollars of the deal. But, on Monday, sources said the bank could back the entire offer.
Such a hefty financing offer from a single bank is extraordinary in the current climate, as tight credit markets have made acquisition financing scarce.
South Africa's World Wildlife Fund for Nature will assess South Africa's transition to a low-carbon economy.
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)
Other Intellectual Property Law News
Pharmaceutical companies typically invest substantial amounts of money into research and development. Their research, however, is not only aimed at discovering new active pharmaceutical ingredients (APIs). Instead, some companies make small modifications to existing...
A controversial patent process known as ‘ever-greening’ is being carried out by many pharmaceutical brands, and is preventing medications from being made available as generics, affecting many South Africans who are struggling to keep up with the cost of...
It has been over six years since the government began developing the draft policy on intellectual property (IP) that has been the focus of major public controversy following the PharmaGate scandal, which involved a leaked pharmaceutical industry email by Knowledge...
Updated 7 hours ago While the global economy continues to battle growth headwinds as it slowly emerges from a lingering post-recessionary phase, the greatest inhibitors to South African economic development are largely domestic and within government’s control, Finance Minister...
Updated 7 hours ago Building materials firm Infrasors said on Friday that FD Marius Potgieter, who had occupied the position since July 1, 2009, had tendered his resignation and would leave the company with immediate effect. Construction supplies manufacturer Afrimat FD and Infrasors...
Updated 7 hours ago Telecommunications group Telkom on Friday announced that, following extensive facilitated consultations and deliberations, management and organised labour had reached consensus that the company’s current restructuring process would proceed. “The parties have...
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
This Week's Magazine
South African construction company Group Five says work on the rehabilitation of the 800 km stretch of the Plumtree–Mutare highway, in Zimbabwe, should be completed by the end of this year. Giving evidence before the Parliamentary Porfolio Committee on Transport...
The Space Operations division of the South African National Space Agency (Sansa) revealed on July 17 that it had supported the successful launch of the US National Aeronautics and Space Administration’s Orbiting Carbon Observatory-2 (OCO-2) satellite on July 2. The...
Phase 1A of Johannesburg’s Rea Vaya bus rapid transit (BRT) system should carry around 42 000 people a day, while it was been expected that Phase 1B, rolled out last year, would add another 60 000 daily passengers. However, the entire system is currently carrying...
A stormwater project in Bedforview, east of Johannesburg, has stalled for eight months after project managers in the Ekurhuleni municipality resigned and municipal managers were placed on special leave without designating replacements. Construction to reinforce the...
The design of the Beit Bridge border post is the biggest impediment to efficient freight movement between Zimbabwe and South Africa, says Cross-border Road Transport Agency CEO Sipho Khumalo. Beit Bridge is the busiest border post in Africa. A research study on the...