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South African nuclear body shuts down key unit because of compliance failure

By: Keith Campbell     Updated 5 hours ago The South African Nuclear Energy Corporation (Necsa) has executed an immediate shut down of its NTP Radiochemical Facility, because of non-compliance with licensing conditions. NTP produces radioisotopes for both industrial and an especially medical purposes, and many cancer and other patients in... 

South African nuclear body shuts down key unit because of compliance failure
Photo by Duane Daws/Creamer Media
An aerial view of Necsa’s complex at Pelindaba

South Africa to stabilise debt in next year's budget – Gigaba

By: Reuters     Updated 4 hours ago South Africa will implement spending cuts of R25-billion ($1.8-billion) and raise revenue by R15-billion in next year's budget to contain growing debt, Finance Minister Malusi Gigaba told Parliament on Wednesday. Gigaba said the extra R40-billion, or 0.8% of GDP, would be used to tackle rising... 

PPC advises shareholders not to accept Fairfax offer

By: Megan van Wyngaardt     Updated 5 hours ago JSE-listed PPC’s board on Wednesday advised shareholders not to accept the R2-billion partial offer from a Fairfax subsidiary. The partial offer is conditional on shareholder approval, which will give effect to a merger between PPC and Afrisam Group. 

Group Five to sell stake in noncore pipes business for R80m

By: Megan van Wyngaardt     Updated 4 hours ago JSE-listed construction company Group Five will sell its 50% interest in Group Five Pipe to LB Pipes for R80-million. “Although the manufacturing cluster remains a strong performer within the group and contributes solid earnings and cash flow, it is regarded as a noncore operation,” Group Five... 

Tsotsi drops Myeni/Zuma meeting bombshell at Eskom Inquiry

By: News24Wire      22nd November 2017 Former Eskom chairperson Zola Tsotsi has dropped a bombshell at the Eskom Inquiry, saying that former South African Airways chairperson Dudu Myeni had called him to request his availability to meet President Jacob Zuma in Durban. According to Tsotsi, he was met by Myeni on March 7, 2015 at the... 

Tsotsi drops Myeni/Zuma meeting bombshell at Eskom Inquiry
Photo by Duane Daws
Former Eskom chairperson Zola Tsotsi

Road infrastructure theft and vandalism costing Joburg millions

By: Megan van Wyngaardt     Updated 4 hours ago City of Johannesburg Mayor Herman Mashaba has called for immediate intervention to stop the theft and vandalism of road-related infrastructure, which in the first five months of the current financial year cost the city R12.3-million. This included the theft and damage of man-hole covers, traffic... 

Road infrastructure theft and vandalism costing Joburg millions

Global NCAP, AA South Africa launch #SaferCarsforAfrica initiative

By: Anine Kilian     22nd November 2017 The Global New Car Assessment Programme (NCAP), together with the Automobile Association (AA) of South Africa, on Wednesday launched the #SaferCarsforAfrica initiative, in Cape Town, with the first independent crash test assessment of some of South Africa’s most popular compact and small cars.... 

Arrowhead posts 6% dividend growth for FY17, downgrades 2018 forecast

By: Natasha Odendaal     22nd November 2017 JSE-listed real estate investment trust (Reit) Arrowhead Properties on Wednesday posted a 6.02% growth in dividend to 87.52c a share for the financial year ended September 30, in line with its forecast. However, Arrowhead is forecasting a 6.5% reduction in dividend growth for the 2018 financial... 

Land Bank a key driver in transforming agri sector in South Africa

By: African News Agency      22nd November 2017 South Africa’s State-owned financial institution the Land Bank has a number of key deliverables, but one of the most important is to help transform the sector by assisting emerging and smallholder farmers. The Land Bank is one of the key institutions at the Africa Agri Investment Indaba 2017... 

Ascendis embarks on R750m rights issue

By: Natasha Odendaal     22nd November 2017 Ascendis Health is embarking on a R750-million rights issue to settle much of the deferred vendor consideration payment outstanding from the 2016 acquisition of Cyprus-based pharmaceutical manufacturer Remedica. The group acquired Remedica for €260-million, which included a deferred payment of... 

Two South Africans shortlisted for engineering innovation prize

By: Megan van Wyngaardt     Updated 6 hours ago Two young South Africans are among the 16 engineers hailing from seven countries in Africa, who have been chosen for the shortlist of the prestigious Africa Prize for Engineering Innovation. University of the Witwatersrand chemical engineering research fellow Collins Saguru has developed AltMet,... 

Funding made available to advance Burkina Faso solar project

By: Megan van Wyngaardt     22nd November 2017 The Banque Internationale pour le Commerce, l’Industrie et l’Artisanat du Burkina (BICIAB), a BNP Paribas Group subsidiary, will provide $16.5-million in financing to Eren Renewable Energy for a 15 MW solar power plant that is under construction in Burkina Faso. The funding was granted to... 

Britain to hike levy on most polluting diesel cars

By: Reuters     Updated 4 hours ago Britain will increase the amount of taxation paid by those driving diesel cars that do not meet more stringent emissions standards, finance minister Philip Hammond said on Wednesday. Vehicle Excise Duty (VED) is paid by British drivers with one rate applying in the first year dependent on... 

Sibanye share price rises on gold tailings deal with DRDGold

By: Martin Creamer     Updated 4 hours ago The share price of Sibanye-Stillwater rose quickly and sharply on Wednesday on the news that the precious metals company had moved to create an industry-leading surface mining partnership with gold tailings retreatment company DRDGold. The proposed transaction, which saw the share price of... 

Sibanye share price rises on gold tailings deal with DRDGold
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman (left) and DRDGold CEO Niël Pretorius.

Johannesburg Water undertaking largest repair job in its history

By: News24Wire      Updated 6 hours ago Utility company Johannesburg Water is currently dealing with the largest repair of a burst pipe in the entity's history, the City said on Wednesday. There were major leaks identified on the main water pipeline that runs through the Linbro Park landfill site, MMC for environmental and... 

In shadow of Opec's noisy oil cuts, Asia's miners quietly tightened coal supplies

By: Reuters     22nd November 2017 Australian and Indonesian miners have quietly done in the last two years what Opec has been shouting about: tighten coal markets and prop up prices. The informal coal output reductions, unlike the official cuts in place since January led by the Organization of the Petroleum Exporting Countries... 

Gauteng sets up corruption intervention council

By: Megan van Wyngaardt     21st November 2017 To fight corruption and promote clean governance, integrity and ethics, the Gauteng provincial government (GPG) has established a civil society-led Ethics and Anti-Corruption Advisory Council. Premier David Makhura on Tuesday said the establishment of the council was a “great step” in efforts to... 

Reunert delivers double-digit growth for FY17

By: Natasha Odendaal     21st November 2017 A strong second half of the year pushed JSE-listed Reunert onto a double-digit growth trajectory for the full financial year ended September 30. The group on Tuesday posted a 14% rise in operating profit to R1.5-billion and a 19% surge in profit to R1.1-billion for the year under review. 

African business aviation association joins global industry body

By: Keith Campbell     21st November 2017 The five-year-old African Business Aviation Association (AfBAA), which was founded in May 2012 and currently has 121 members, has become the fifteenth member of the International Business Aviation Council (IBAC), which is the global industry association for the business or executive aviation... 

African business aviation association joins global industry body
Photo by ExecuJet
A wide range of business aircraft parked at ExecuJet’s facility at Lanseria International Airport, north west of Johannesburg

Tongaat Hulett Developments sets out to attract more investment to south coast

By: Megan van Wyngaardt     21st November 2017 Chris du Toit has been appointed commercial head at Tongaat Hulett Developments, effective November 1. He aims to attract more companies to the City of Durban, which currently contributes 14% to the country’s gross domestic product. 

Aston Martin's turnaround plan moves up a gear with Vantage model

By: Reuters     21st November 2017 Luxury British carmaker Aston Martin unveiled its new Vantage model on Tuesday, as it pursues a turnaround plan designed to return it to profitability and set up a possible stock market flotation. The central England-based firm, famed for making the sports car driven by fictional secret agent... 

Shanghai rebar jumps nearly 3% on demand hopes, lean supply

By: Reuters     21st November 2017 Chinese rebar steel futures climbed almost 3% on Tuesday, gaining for a second straight day on tighter supply and expectations that demand in the world's top consumer would bounce back when production curbs are lifted after winter. Chinese steel mills, mainly across the country's north, have been... 

Eskom’s ‘death spiral’ under the microscope

By: Terence Creamer     21st November 2017 A major topic of discussion during recent public hearings into Eskom’s 2018/19 revenue application, was whether a further double-digit tariff hike could trigger a “utility death spiral”, whereby rising tariffs and utility costs spark an exodus of energy-intensive customers from the network,... 

Eskom’s ‘death spiral’ under the microscope

Ngqura Container Terminal hits volume milestone

By: Megan van Wyngaardt     21st November 2017 Over 81 927 twenty-foot equivalent units (TEU) passed through the Ngqura Container Terminal (NCT), in the Eastern Cape, in October, the highest units ever handled in the terminal’s history. This remarkable milestone not only bodes well for the economy of the region and the country, but also shows... 

Ngqura Container Terminal hits volume milestone

Tlou to list on Botswana Stock Exchange, raise £2.4m from new investors

By: Creamer Media Reporter      21st November 2017 Coal-bed methane project developer Tlou Energy has secured the support of new investors and plans to list on the Botswana Stock Exchange (BSE) by mid-December. The Aim- and ASX-listed company will submit its application to list on the main board of the BSE this week. 

South Africa eyes Brics partners to build new $10bn refinery

By: Reuters     21st November 2017 South Africa is looking to the national oil companies of its Brics partners to help build a new 400 000 bbl/d refinery that will be structured by senior debt and equity, Energy Minister David Mahlobo told Parliament on Tuesday. The idea of building a refinery in Africa's most industrialised... 

South Africa eyes Brics partners to build new $10bn refinery
Photo by Duane Daws
Energy Minister David Mahlobo

Bushveld Energy, IDC, Eskom to test first vanadium redox flow battery

By: Natasha Odendaal     21st November 2017 Aim-listed Bushveld Minerals’ 84%-owned energy subsidiary Bushveld Energy has deployed its first utility-scale vanadium redox flow battery (VRFB) to power utility Eskom for testing. The power utility will, at its research, testing and development centre, in Rosherville, test the VRFB and its... 

New field kitchens ordered from Saab by SANDF

By: Keith Campbell     21st November 2017 The South African National Defence Force (SANDF) has awarded a contract for mobile containerised kitchen systems to aerospace, defence and security group Saab. The contract will be executed by Saab at its facility in Centurion, just south of Pretoria. The value of the contract has not been... 

New field kitchens ordered from Saab by SANDF
Photo by Dylan Slater/Creamer Media
SANDF soldiers

SAA remains undercapitalised, despite bailout

By: Reuters     21st November 2017 South African Airways on Tuesday said even with a recent government injection of R10-billion ($709-million), the struggling airline will remain under-capitalised with a negative equity position of over R9-billion, a presentation to Parliament showed. The national airline has been relying on... 

SAA remains undercapitalised, despite bailout

Rhodes Food's FY17 performance dragged by international operations

By: Natasha Odendaal     21st November 2017 The headline earnings of JSE-listed Rhodes Food declined by 19.1% to R237-million for the financial year ended October 1, as regional gains were offset by a disappointing international performance. Diluted headline earnings a share decreased by 27% to 93.4c for the year under review, with... 

New DNA barcoding kit to stifle illegal animal trade

By: Megan van Wyngaardt     21st November 2017 Aimed at sharpening conservation efforts, the international Barcode of Life (iBoL) project on Monday launched its Lab-in-a-Box portable deoxyribonucleic acid (DNA) barcoding kit, which enables rapid species identification for port of entry officials within a few hours. The launch took place... 

New DNA barcoding kit to stifle illegal animal trade

Drought unlikely to affect Cape Town tourism in December

By: Anine Kilian     21st November 2017 The acute water shortages in the Western Cape – and in the City of Cape Town, in particular – are unlikely to negatively affect the region’s tourism in the traditionally busy year-end period, says Grant Thornton Tourism director Martin Jansen van Vuuren, who acknowledges the severity of the water... 

South Africa nervously awaits reviews for rand-priced debt

By: Reuters     21st November 2017 Whether ratings agencies will cut South Africa's rand-denominated debt to junk status split economists in a Reuters poll, just three days before an announcement that could trigger a selloff in local bonds and currency. Downgrades to sub-investment grade could trigger forced selling of up to... 

South Africa nervously awaits reviews for rand-priced debt

Eskom rejects call for inflation-capped hike, as Nersa gears up for Dec 7 decision

By: Terence Creamer     20th November 2017 State-owned power utility Eskom has rejected calls for its 2018/19 tariff to be capped at the level of inflation, arguing that such a move would be financially unsustainable as it would result in a revenue reduction, which would further squeeze its liquidity and could place the country’s credit... 

Eskom rejects call for inflation-capped hike, as Nersa gears up for Dec 7 decision
Photo by Duane Daws
Nersa fulltime regulatory member for electricity Mbulelo Ncetezo says decision should be announced on December 7

South African Reits make their mark among South Africa’s top listed companies

By: Anine Kilian     20th November 2017 South African real estate investment trusts (Reits) rank high among the country’s top companies that earn the most for shareholders.   The sector featured strongly overall in the list of the Top 100 Companies on the JSE for performance. South African Reits made up a significant 12% of the Top 100... 

TNPA completes R39m infrastructure upgrade at Port Nolloth

By: Anine Kilian     20th November 2017 The Transnet National Ports Authority (TNPA) has completed the R39-million rehabilitation of the infrastructure of Port Nolloth on the north-western coast of South Africa. The infrastructure upgrade was carried out by contractor Steffanuti Stocks Marine over 14 months, with 25% of the contract... 

Dawn’s turnaround plan starts to yield results

By: Anine Kilian     20th November 2017 Despite tough economic conditions in South Africa, JSE-listed Distribution & Warehousing Network (Dawn) narrowed its loss by 71% to R105-million for the six months to September 30, compared with a loss of R367-million in the first half of the prior financial year. Dawn CEO Edwin Hewitt commented... 

Astral Foods trumps difficult trading period with sterling FY17 results

By: Megan van Wyngaardt     20th November 2017 JSE-listed Astral Foods on Monday attributed the 96.8% increase in headline earnings a share to R18.99 for the year ended September 30 to the recovery in poultry profits during the second half of the financial year. “Stable prices for poultry products during the winter months, together with... 

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