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Friday, November 28, 2008.

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

Making headlines today:

South Africa's central bank governor Tito Mboweni said that South Africa's inflation outlook has improved. It is hoped that an easing since August is the start of a consistent downward trend.

He also said that while the local banking system had largely escaped the global credit crisis, the real economy was not immune and that policy-makers must take slower growth into account.

South Africa's consumer and producer inflation eased more than expected in October. This, together with slowing growth, has raised speculation of a cut in interest rates.

The targeted CPIX inflation slowed to 12,4% year-on-year from 13%. Factory gate inflation fell to 14,5% from 16% previously.

South Africa's Council for Scientific and Industrial Research has strongly denied that it tried to "gag" one of its scientists and researchers, Dr Anthony Turton. The CSIR added that he was suspended for his inappropriate statements made to the media.

The CSIR would be engaging with Turton in an attempt to resolve the matter.

CSIR president and CEO Dr Sibusiso Sibisi said the CSIR recognised that there were very serious and urgent issues facing water resource management in South Africa. He said the Council was in no way "shying away from causing discomfort in certain quarters".

He added that Turton was suspended because he violated his conditions of service, not because the Council sought to suppress the truth about water in South Africa.

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Also making headlines:

JSE-listed petrochemicals group Sasol will appeal the EU's 318-million euro paraffin-wax cartel fine.
Abundant fuel reserves make nuclear energy a viable long-term option.
The Department of Trade and Industry gears up to introduce new trade legislation.
And, South Africa's private sector credit growth slowed only slightly in October dampening expectations of an imminent interest rate cut.

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