Jun 01, 2009
Daily podcast – June 1, 2009Back
Johannesburg|Chartered Bank|Kagiso Securities|MTN Group|South African Reserve Bank|South Africa|USD|Bank|Telecom Operator|Andre Coetzee|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
Other Intellectual Property Law News
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
This Week's Magazine
The Electronic Systems Laboratory (ESL) of the Department of Electrical and Electronic Engineering at Stellenbosch University is strongly reaffirming its position as one of South Africa’s leading centres for satellite technology and expertise. It is currently...
The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
The South African Defence Review 2012, released to the public at the end of last month (despite the year given in its title) recommends the creation of the post of Chief Defence Scientist. This official would be responsible for the management of defence technology...
AltX-listed engineering technology company Ansys has been awarded an R188-million contract by Transnet to supply integrated dashboard display systems to the freight rail utility’s locomotives. Black-owned and controlled Ansys developed the bespoke integrated system...
South Africa’s sole nuclear power station Koeberg, which is located in the Western Cape, breached a major operations milestone on April 4, which marked the thirtieth anniversary of Unit 1 having been connected to the grid. Eskom, which operates the two-unit plant,...