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Friday, November 21, 2008.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
On Thursday, a blue chip panel said that the Group of Eight major industrialised countries should be doubled to include South Africa, Brazil, China and India and other nations to better tackle global challenges like climate change and economic stability.
The panel argued that the G8 has become "outdated."
The Managing Global Insecurity Project said in a report that "the leadership and mandates of key international institutions, from the G8 to the UN Security Council, have not kept pace with the new powerholders and dynamic threats of a changed world".
The report recommended expanding the G8, which is comprised of Britain, Canada, France, Germany, Italy, Japan, Russia and the United States, to include Brazil, China, India, Mexico and South Africa. It also proposed adding Indonesia, Turkey, Egypt or Nigeria to create a Group of 16.
South Africa's state-owned utility Eskom will review its plan to raise tariffs on power. This is in light of the global financial turmoil.
Spokesperson Fani Zulu said that the recent international financial and economic developments have necessitated that the utility review its assumptions that underpin the tariff application.
He did not elaborate on what the review would entail.
Eskom said it would raise tariffs as part of its efforts to raise money for its R343-billion new power investment programme. The utility provides 95% of South Africa's power.
Also making headlines:
Rwanda plans to lay 2 300-km of fibre-optics cable in 2009.
Alan Hirsch says South Africa's infrastructure plan remains unchanged despite the global economic crisis.
The Bureau for Economic Research forecasts that economic growth may fall to 1,9% next year.
And, infrastructure consultants Africon and Ninham Shand involved in merger talks.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.