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Bombela awarded R624m in Gautrain Sandton station claim

By: Irma Venter     Updated 1 hour ago The arbitration tribunal ruling on the Bombela Concession Company’s (BCC’s) Gautrain Sandton Station cavern claim, has increased it provisional quantum award of R354-million, as set in March, to R624-million (excluding VAT). The award was in relation to a claim lodged by the Bombela Civil Joint... 

Bombela awarded R624m in Gautrain Sandton station claim

Sasol investing $1.4bn to grow Mozambique gas platform

By: Terence Creamer     30th May 2016 Energy group Sasol has started drilling the first of what will be 12 new gas and oil wells in Mozambique where the government recently approved a production sharing agreement (PSA), as well as a field development plan for the resources, which are in the same neighbourhood as Sasol’s producing... 

Sasol investing $1.4bn to grow Mozambique gas platform
Photo by Sasol
Drilling for gas in Temane

R47m spent to service empty government buildings, MPs told

By: News24Wire      Updated 4 hours ago Over R47-million a year is spent on rates and taxes for unused government buildings around the country, the public works department has said. An additional R12-million a year is spent keeping the lights on and water running. 

Nuclear needed to meet climate change targets – expert

By: Reuters     Updated 4 hours ago Nuclear power is needed to meet the climate change targets set at the recent COP 21 climate summit in Paris, Jacques Regaldo, chairperson of the World Association of Nuclear Operators said at the opening of the AtomExpo in Moscow on Monday. Referring to the 20 th anniversary of the Chernobyl... 

Nuclear needed to meet climate change targets – expert

Post-Panama, there are lessons to be learnt in fighting corruption

By: Natasha Odendaal     30th May 2016 The so-called Panama Papers should be used as a launchpad to develop multi-jurisdictional efficiencies and to promote an exchange of best practices globally to fight corruption and mitigate widespread illicit financial flows. Swiss Foreign Ministry public international law and legal adviser and... 

Post-Panama, there are lessons to be learnt in fighting corruption
Corruption Watch director David Lewis

Bidcorp lists on JSE, creates platform for growth

By: Mia Breytenbach     30th May 2016 International broad-line foodservice group Bid Corporation Limited (Bidcorp), which houses the international and local foodservice operations and assets unbundled from Bidvest Group Limited, has listed on the Johannesburg Stock Exchange (JSE) in an attempt to facilitate future growth. Speaking at... 

Sugar drags down record performance of other Tongaat divisions

By: Tracy Hancock     30th May 2016 JSE-listed sugar producer Tongaat Hulett’s cash flow from operations took a significant blow in the year ended March 31, owing to its sugar production reducing by a further 291 000 t to 1.023-million tons from 1.314-million tons and 1.424-million tons in 2015 and 2014 respectively. Tongaat Hulett... 

Sugar drags down record performance of other Tongaat divisions
Tongaat Hulett CEO Peter Staude

Famous Brands yields growth amid adverse trading environment

By: Tracy Hancock     30th May 2016 While the current adverse trading environment is widely acknowledged and reported on, JSE-listed Famous Brands says it remains optimistic and enthusiastic about the opportunities presented by the food service industry in South Africa. The company advised shareholders on Monday that South Africa... 

Famous Brands yields growth amid adverse trading environment

Nigeria's Barkindo frontrunner to become OPEC secretary-general

By: Reuters     Updated 31 minutes ago Organization of the Petroleum Exporting Countries (Opec) is likely to choose Nigeria's Mohammed Barkindo, a former head of state oil firm NNPC, as the next secretary-general of the producer group, three sources with knowledge of the matter said on Tuesday. The Opec has been looking for a... 

New online floor plan launched for Electra Mining Africa 2016

     30th May 2016 For the first time, this year Creamer Media introduced an interactive floor plan and exhibitor listing for Electra Mining Africa 2016, taking pace from 12 to 16 September. The floor plan and exhibitor listing will be hosted on MiningWeekly.com.  

New online floor plan launched for Electra Mining Africa 2016

Brussels attacks disrupt European air traffic – Iata

By: Anine Kilian     30th May 2016 The disruptive impact of the Brussels Airport attack that took place in March weighed on the International Air Transport Association’s (Iata’s) April figures for global passenger traffic, with Iata estimating that passenger demand growth would have been around 5% if the attacks did not happen.... 

Brussels attacks disrupt European air traffic – Iata

Airbus unveils 3D printed unmanned test aircraft

By: Keith Campbell     30th May 2016 European airliner maker Airbus has designed, built and flown an entirely 3D printed unmanned air vehicle (UAV) which it has designated Thor. This was reported by Airbus Head of Emerging Technologies & Concepts Peter Sander at the Innovation Days 2016 media conference on Monday. Thor is an acronym... 

Airbus unveils 3D printed unmanned test aircraft
The Thor 3D-printed aircraft

Air freight markets see April growth

By: Anine Kilian     30th May 2016 The International Air Transport Association (Iata) saw a 3.2% increase in air freight demand in April compared with the same period last year, according to demand growth results for global air freight markets, published on Monday. The increase in demand was broad-based across all regions, with... 

Air freight markets see April growth

Mining ‘most transparent’ – Corruption Watch

By: Martin Creamer     30th May 2016 The Chamber of Mines of South Africa on Monday welcomed the Corruption Watch report on transparency in corporate reporting, which found that South Africa’s most transparent companies came from the mining sector. Gold Fields, BHP Billiton and Anglo American Platinum come out tops in the report,... 

Mining ‘most transparent’ – Corruption Watch
Chamber CEO Roger Baxter

Acsion revenue increases fourfold to R453.3m

By: Anine Kilian     30th May 2016 Releasing its maiden results since listing on the JSE last year, real estate investment trust Acsion reported a 322% increase in revenue year-on-year for the year ended February 29, with the company’s 2015/16 revenue pegged at R453.3-million, compared with a revenue of R107.4-million recorded in... 

Acsion revenue increases fourfold to R453.3m

$60m boost to Zambia power grid

By: Martin Creamer     30th May 2016 Mining is poised to receive a spinoff benefit from Monday’s announcement that the power grid in Zambia is to be boosted by a $60-million investment. In this latest transaction, Standard Chartered bank has partnered with the United States Agency for International Development (USAID) to provide a... 

$60m boost to Zambia power grid
Zesco CEO Victor Mundende, Standard Chartered Bank Zambia CEO Andrew Okai and Zambia’s Deputy Energy Minister Charles Zulu

Drought persists despite May rainfall

By: Reuters     30th May 2016 South Africa's is still suffering the effects of a drought despite increased rainfall in May, leaving dam water levels low and crop supplies scant, the agricultural ministry said on Monday. The persistence of a severe drought across southern Africa will result in widening cereal deficits due to... 

Drought persists despite May rainfall

Mixed bag for Q1 cross-border M&A activity

By: Creamer Media Reporter      30th May 2016 The weaker rand is expected to result in a slowdown in South Africa’s outbound mergers and acquisitions (M&A) activity into developed countries and shift outbound investment toward developing countries. Law firm Baker & McKenzie partner Morné van der Merwe on Monday said a weaker rand should,... 

Botswana's economy to return to growth this year – central bank

By: Reuters     30th May 2016 Botswana's economy will return to growth this year after contracting in 2015 as water and electricity supply stabilise, the central bank said on Monday. Consumer prices in the southern African country will remain within the bank's target of between 3% and 6%, the Bank of Botswana's Kealeboga... 

Eskom on track to meet winter electricity demand

By: Natasha Odendaal     30th May 2016 State-owned power utility Eskom has reiterated its commitment to keeping unplanned breakdowns below 4 000 MW and ensuring no load-shedding for the rest of the year, as it revises its weekend maintenance plans in line with dropping temperatures. As winter temperatures start to set in, the... 

Eskom on track to meet winter electricity demand

Ansys records FY surge on Parsec acquisition

By: Natasha Odendaal     30th May 2016 JSE-listed Ansys on Monday reported across-the-board double-digit growth for the 12 months to February 29, bolstered by the nine-month inclusion of technology investment group Parsec, which it bought in 2015. Group headline earnings a share increased 11.5% from 4.44c in 2015 to 4.95c in the 2016... 

Huge hike in petrol, diesel prices

By: News24Wire      30th May 2016 The pump price of petrol will rise by 52c/l for all grades, while diesel will increase by a whopping 76 c/l, the department of energy announced on Monday. The main reasons for the spike are the continued upward march of international petroleum prices and the weakening rand / US dollar exchange rate. 

Huge hike in petrol, diesel prices

Airbus: new design airliner soon unlikely, but not impossible

By: Keith Campbell     30th May 2016 European airliner manufacturer Airbus, part of the wider Airbus Group, is not currently planning a new airline design. But that does not mean that there is no thinking about a new design. "If there is [to be] a new plane, it will be a single-aisle [airliner]," Airbus Germany board chairperson... 

Airbus: new design airliner soon unlikely, but not impossible

G7: Global economic growth an 'urgent priority'

By: News24Wire      30th May 2016 The leaders of the G7 group have said the world economy is an urgent priority and warned that a British vote to leave the European Union would seriously threaten global growth. In a statement following a two-day summit in the Japanese resort of Ise-Shima, the world's seven leading industrial... 

SA on 'almost inevitable' path to junk – economist 

By: News24Wire      30th May 2016 South Africa is on an "almost inevitable" path to junk status without a large enough crisis to jolt it into gear and engender fundamental change in how things are done, Peter Attard Montalto, emerging markets economist at Nomura, said on Friday. "It is a story of the grinding underperformance of... 

SA on 'almost inevitable' path to junk – economist

Police deny Gordhan inquiry moved to new unit

By: Reuters     30th May 2016 South Africa's elite Hawks police unit denied on Sunday a report that an investigation involving Finance Minister Pravin Gordhan, which has helped to weaken the rand, has been transferred to another part of the force. Citing an unnamed source, the City Press newspaper said the police crime... 

Police deny Gordhan inquiry moved to new unit
Finance Minister Pravin Gordhan

South Africa needs to 'reduce noise' in its political system – Treasury official

By: Reuters     27th May 2016 South Africa has to reduce the "noise" in its politics in order to attract investment and improve confidence, a senior Treasury official said on Friday. "We have got to reduce the amount of noise in our political system, especially as it pertains to various policies that are under consideration... 

Swiss, French agencies establish €3m programme to help finance S African renewable-energy projects

     27th May 2016 The Swiss State Secretariat for Economic Affairs (Seco) and Agence Française de Développement  (AFD) have agreed on a €3-million technical assistance programme to assist banks in financing small-scale renewable-energy and energy efficiency projects in South Africa. The finance would be provided... 

Nigerian billionaire pledges to transform agriculture in Africa 

By: African News Agency      27th May 2016 Nigerian billionaire businessman and philanthropist Tony Elumelu on Friday pledged his support to transforming the agricultural sector in Africa, saying entrepreneurs in agriculture should be up-skilled with more focus given to vocational and technical education. Elumelu, chairperson of Heirs... 

Nigerian billionaire pledges to transform agriculture in Africa

NDP credibility needs to be rebuilt, consistency key 

By: Natasha Odendaal     27th May 2016 There is an urgent need to revive and rebuild the credibility and certainty afforded by – and more rapidly and consistently implement – South Africa’s National Development Plan (NDP), as potential downgrades by credit agencies further threaten the country’s economic growth. North West University... 

NDP credibility needs to be rebuilt, consistency key
Photo by Duane Daws
North West University School of Business and Governance Professor Raymond Parsons

Zuma not 'at war' with Gordhan – Presidency 

By: Reuters     27th May 2016 South Africa's President Jacob Zuma is not "at war" with Finance Minister Pravin Gordhan over the control of the National Treasury, the presidency said on Friday in response to widespread media reports. Recent media reports have spoken of a clash between Zuma and Gordhan, who is embroiled in an... 

Zuma not 'at war' with Gordhan – Presidency
Photo by Duane Daws
President Jacob Zuma

mLab partners with CSIR to foster mobile health development

By: Anine Kilian     27th May 2016 Mobile solutions laboratory mLab Southern Africa has joined forces with the Council for Scientific and Industrial Research (CSIR) to stimulate more open innovation and development within the mobile health (mHealth) and wellness sector. The partnership, announced Friday, would include a number of... 

mLab partners with CSIR to foster mobile health development

Huge Group lifts FY headline earnings 45%

By: Anine Kilian     27th May 2016 The headline earnings a share of JSE-listed Huge Group increased by 45% year-on-year to 18.5c for the year ended February 29. Revenue increased by 6% to R216.5-million, compared with R204.6-million in the prior period. The group’s Huge Telecom division was its biggest revenue and profit generator. 

DTI hopeful of continental free trade area agreement conclusion in two years

By: Natasha Odendaal     27th May 2016 South Africa’s Department of Trade and Industry (DTI) is hopeful of concluding the continental free trade area agreement within two years to facilitate Africa-wide ease of trade among country peers. Speaking on the final day of the Southern African Metals and Engineering Indaba, held in Sandton,... 

DTI hopeful of continental free trade area agreement conclusion in two years
Photo by Duane Daws
DTI chief director for Africa multilateral economic relations Wamkele Mene

New-look Kyalami to host first race in October

By: Irma Venter     27th May 2016 The Kyalami Grand Prix Circuit on Friday announced that the first race event to be held on the refurbished, new-look track would take place from October 21 to 23. The October race meeting would form part of the Motorsport South Africa Extreme Festival National Racing Roadshow, and would feature... 

New-look Kyalami to host first race in October

Audi, VW owners happiest new-car buyers, shows survey

By: Irma Venter     27th May 2016 Audi and Volkswagen new-car buyers are happiest with their purchasing experience, while much the same is true for new Isuzu, Nissan, Toyota and Volkswagen light commercial vehicle (LCV) owners in South Africa. The newest annual Ipsos customer satisfaction survey also awarded Audi the top customer... 

Audi, VW owners happiest new-car buyers, shows survey

Cleaver is new De Beers CEO

By: Martin Creamer     27th May 2016 Bruce Cleaver, 51, is the new CEO-designate of De Beers. He will take over from Philippe Mellier on July 1. After a half-decade at the helm, Mellier, who is ten years Cleaver’s senior, has honoured his commitment to step down as CEO after five years. 

SA won't end up like Venezuela – Gordhan

By: News24Wire      27th May 2016 South Africa will not turn into “another Venezuela”, Finance Minister Pravin Gordhan said in Parliament on Thursday. “We are miles away from Venezuela. We are a well-managed fiscus,” Gordhan said at the end of a long debate on South Africa's economy. 

SA won't end up like Venezuela – Gordhan
Finance Minister Pravin Gordhan

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