http://www.engineeringnews.co.za
R/€ = 17.45Change: 0.11
R/$ = 15.66Change: -0.01
Au 1227.23 $/ozChange: -21.47
Pt 999.00 $/ozChange: -12.00
 

Economy News

Fitch downgrades Mozambique amid hidden debt concerns

By: Anine Kilian     Updated 7 hours ago Ratings agency Fitch Ratings has downgraded Mozambique's long-term foreign and local currency Issuer Default Ratings to CC from CCC, it said in a statement on Tuesday. The disclosure of hidden public debt revealed significant short-term repayment obligations, which could precipitate a near-term... 

Gauteng Transport Authority a step closer – Vadi

By: Natasha Odendaal     24th May 2016 The Gauteng government has made strides in advancing its ambitions of establishing an integrated transport authority and narrowing the fragmentation of the public transport system of South Africa’s most populous province. Addressing media prior to Gauteng Premier David Makhura’s Budget Vote for... 

Gauteng Transport Authority a step closer – Vadi
Photo by Duane Daws
Gauteng Roads and Transport MEC Dr Ismail Vadi

IDC met with Atul Gupta, but never at Saxonwold – CEO

By: News24Wire      24th May 2016 Industrial Development Corporation (IDC) officials met with Atul Gupta and members of his business ahead of providing financial assistance to Oakbay Resources & Energy, it was revealed on Tuesday. IDC CEO Geoffrey Qhena confirmed the meetings took place in a written reply provided by Economic... 

IDC met with Atul Gupta, but never at Saxonwold – CEO
Photo by Duane Daws
Atul Gupta

Zuma signs law to appease provident fund members

By: News24Wire      24th May 2016 President Jacob Zuma has signed the Revenue Laws Amendment Act into law to postpone annuitisation for provident funds, the National Treasury said on Tuesday. The new act affects provident fund members only, by delaying both the requirement for them to purchase an annuity at retirement and the... 

Zuma signs law to appease provident fund members
Photo by Duane Daws
President Jacob Zuma

Eskom, CSIR sign strategic partnership agreement

     24th May 2016 Power utility Eskom and the Council for Scientific and Industrial Research (CSIR) have signed a partnership agreement aimed at synergising the research capabilities of the two State-owned organisations in support of Eskom’s strategic and operational needs.   The five-year agreement was aimed at... 

South Africa's rand retreats as lower commodity price, US rate hike weighs

By: Reuters     24th May 2016 South Africa's rand weakened against the dollar early on Tuesday as a bout of risk aversion triggered by lower commodity prices and renewed expectations of a rate hike in the United Sates cooled investor appetite for emerging market assets. By 0645 GMT the rand had slipped 0.54% to 15.8050 per... 

South Africa's rand retreats as lower commodity price, US rate hike weighs

Transnet appoints chief information officer

     24th May 2016 Transnet has appointed Makano Mosidi chief information officer (CIO), effective June 1. Mosidi will report to group CE Siyabonga Gama in line with the group’s objective of ensuring that digitalisation is central to driving innovation efficiency and cost effectiveness across all operations. She is... 

DTI moving to iron out local-content frustrations around Transnet contracts

By: Terence Creamer     24th May 2016 The Department of Trade and Industry (DTI) has confirmed that it is “concerned” about whether all four of the original equipment manufacturers (OEMs) that have been awarded parts of a R50-billion contract to supply 1 064 electricity and diesel locomotives to Transnet will meet the minimum... 

DTI moving to iron out local-content frustrations around Transnet contracts

S&P's downgrade will tip South Africa into job-shedding recession, bank economist warns 

By: Terence Creamer     23rd May 2016 A downgrade of South Africa’s credit rating to junk was currently only partially priced in, a leading bank economist warned on Monday, arguing that a negative assessment by Standard & Poor’s (S&P’s) on June 3 would most probably trigger a recession and precipitate the shedding on around 200 000... 

S&P's downgrade will tip South Africa into job-shedding recession, bank economist warns
Photo by Duane Daws
Standard Bank chief economist Goolam Ballim

BCCEI calls for engagement with small struggling contractors

By: Creamer Media Reporter      23rd May 2016 The Bargaining Council for the Civil Engineering Industry (BCCEI) on Monday urged smaller contractors unable to comply with all the provisions of the civil engineering sectors’ collective agreements under the statutory body to check if they were eligible for exemption. Five collective agreements,... 

South African police says have no plans to arrest finmin Gordhan

By: Reuters     23rd May 2016 South Africa's elite Hawks police unit has no plans to arrest Finance Minister Pravin Gordhan as part of an investigation into a surveillance unit set up by the revenue service during his time in charge, a spokesman said on Monday. Gordhan, who was reinstated as Finance Minister in December, had... 

South African police says have no plans to arrest finmin Gordhan
Photo by Duane Daws
Finance Minister Pravin Gordhan

CEOs, govt work on initiatives to stave off downgrade

By: Creamer Media Reporter      20th May 2016 Around 90 CEOs were working in conjunction with government to protect South Africa’s investment grade credit rating, the Banking Association South Africa said in a statement on Friday. Led by Telkom chairperson Jabu Mabuza, the National Business Initiative, along with the Department of Finance... 

NUM still open to wage talks with Eskom

By: Reuters     20th May 2016 South Africa's National Union of Mineworkers (NUM) is still open to wage talks with government power firm Eskom after rejecting a 5% pay rise, it said on Friday. On Wednesday, the union had seemed to suggest it expected talks to break down because South Africa's energy regulator Nersa had... 

NUM still open to wage talks with Eskom

To regain FDI ranking, South Africa must ‘rebuild trust’ with investors 

By: Terence Creamer     20th May 2016 South Africa’s absence – for the second year running – from the top 25 countries listed in AT Kearney’s annual foreign direct investment (FDI) confidence index is suggestive of heightened investor concern about perceived political, policy and regulatory instability. Africa region head Wim... 

To regain FDI ranking, South Africa must ‘rebuild trust’ with investors

Transnet appoints group executive for R&D

     20th May 2016 State-owned Transnet has appointed Khomotso Phihlela group executive for research and development to spearhead and monetise the company’s intellectual property drive. The group has identified innovation as one of the key drivers of revenue and profitability, operational efficiency and a way of... 

Finance Minister Gordhan 'not the criminal type' – ANC chief whip 

By: African News Agency      20th May 2016 African National Congress (ANC) chief whip in Parliament Jackson Mthembu on Thursday backed Finance Minister Pravin Gordhan, saying he was not the criminal type and called on those who were “peddling lies” about him to be caught. Addressing journalists in Parliament, Mthembu condemned weekend... 

Finance Minister Gordhan 'not the criminal type' – ANC chief whip
Photo by Duane Daws
Finance Minister Pravin Gordhan

Report outlines transformation framework for construction globally

By: David Oliveira     20th May 2016 Thirty measures that form part of a construction industry transformation framework are detailed in a new report called ‘Shaping the Future of Construction: A Breakthrough in Mindset and Technology’, which was compiled by the World Economic Forum (WEC), in collaboration with The Boston Consulting... 

ARV project’s third attempt to supply affordable medicine

     20th May 2016 Government driven initiative the Ketlaphela project, which is aimed at establishing a fully backward integrated pharmaceutical company that bridges the gap between research and development capabilities in South Africa, is going through its third attempt at being implemented. 

Big potential for SA to use ICT investments to stimulate growth

By: Schalk Burger     20th May 2016 South Africa is among the top three developing countries that have the most potential to use information and communication technology (ICT) to boost their economic growth, along with China and Chile, according to the 2015 Global Connectivity Index, says information technology firm In2IT... 

Big potential for SA to use ICT investments  to stimulate growth
SAURABH KUMAR Better ICT infrastructure and connectivity enable South Africa to use ICTs to enable the SME sector to create 70% of new jobs

Five-year funding plan to overcome challenges

     20th May 2016 Independent global charitable foundation, the Wellcome Trust has committed £21-million to the Developing Excellence in Leadership, Training and Science (Deltas) Africa initiative, which aims to improve health in Africa through research driven by the most urgent regional challenges. 

Five-year funding plan to overcome challenges
Photo by Duane Daws
WOMAN RESEARCHERS Female students are being encouraged to join the medical research field

Funding for South African pharmaceuticals research increasing

     20th May 2016 Pharmaceutical company AstraZeneca through its research trust has awarded seven South Africans grants totalling R1.5-million for the 2015/2016 year. This increases the total number of research grants conferred locally by the trust to 18 since its inception in 2014. 

New antibacterial gel can save thousands in developing countries

     20th May 2016 A new antiseptic chlorhexidine gel – antibacterial gel – that can prevent umbilical cord infections (omphalitis) in newborn infants in developing countries has been granted an encouraging scientific judgement from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines... 

New antibacterial gel can save  thousands in developing countries
NEW GEL TECHNOLOGY GSK has created a new antibacterial gel that is cost effective and is easy to distribute to developing countries

Regulations expected to be gazetted later this year

By: Nadine James     20th May 2016 Industry stakeholders are hopeful that the final amendments to the regulations to the Construction Industry Development Board Act will be gazetted by August, says international law firm Clyde & Co’s Johannesburg branch partner Robert Scott. He explains that the proposed amendments – published in... 

Regulations expected to be gazetted later this year
ROBERT SCOTT The Clyde & CO partner believes the success of the amended regulations will rest on the quality of the adjudicators

South Africa’s economy at a crossroads, Sunter warns 

By: David Oliveira     20th May 2016 The Swiss-based International Institute of Management Development’s 2015 ‘World Competitiveness Report’ (WCR) ranked South Africa’s economy 53 out of 63, highlighting that the country’s economy remains a significant player in the global economy, said futurologist Clem Sunter during the 95-year... 

South Africa’s economy at a crossroads, Sunter warns

South African, Indian electronics associations ink skills transfer agreement

By: Kim Cloete     19th May 2016 The South African Electrotechnical Export Council (SAEEC) on Thursday signed an agreement with the Indian Electrical and Electronics Manufacturers Association (IEEMA) to boost business opportunities and transfer skills between India and Africa. The two organisations would work together to boost... 

South African, Indian electronics associations ink skills transfer agreement

MPC wise to leave interest rates unchanged – Parsons

By: Anine Kilian     19th May 2016 The Monetary Policy Committee’s (MPC’s) decision to leave interest rates unchanged at 7% was the right one in present economic circumstances, said North West University School of Business and Governance Professor Raymond Parsons. He noted that the South African Reserve Bank (SARB) had yet again... 

MPC wise to leave interest rates unchanged – Parsons

Transnet Engineering targets big rise in third-party orders as OEM strategy evolves

By: Terence Creamer     19th May 2016 The engineering unit of State-owned Transnet has set a target of securing 40% of its revenue from third-party orders by 2021, which would represent a material increase from current levels of around 12%. The bulk of Transnet Engineering’s R10-billion in yearly revenues is currently derived from... 

Transnet Engineering targets big rise in third-party orders as OEM strategy evolves
Photo by Duane Daws
Transnet chief advanced manufacturing officer Thamsanqa Jiyane

EU eases black-spot rules on South African citrus destined for juicing

By: Terence Creamer     19th May 2016 The European Union (EU) has announced plans to partially relax citrus black spot (CBS) regulations on fruit exported from South Africa from June 1. The European Commission decided earlier this month that South African citrus exports destined exclusively for industrial processing into juice would... 

EU eases black-spot rules on South African citrus destined for juicing

Exchange rate volatility a big concern for African CEOs – survey 

By: Anine Kilian     19th May 2016 Exchange rate volatility is one of the biggest concerns for African CEOs and their global peers, a survey has found. PwC’s Africa Business Agenda survey, published on Thursday, showed that CEOs were also worried about governments’ response to fiscal deficits and debt burdens, as well as about... 

Exchange rate volatility a big concern for African CEOs – survey

DTI identifies first five companies in industrialist programme 

By: Irma Venter     19th May 2016 Government had identified the first five companies that would benefit from its Black Industrialists (BI) programme, said Department of Trade and Industry (DTI) incentive development and administration division deputy director-general Malebo Mabitje-Thompson on Thursday. Speaking to Engineering... 

Bill to aid retrenched workers gets one step closer

By: News24Wire      19th May 2016 The Unemployment Insurance Act amendment bill is one step closer to becoming a reality after it was passed in the National Assembly on Thursday. The bill, which was introduced by Labour Minister Mildred Oliphant, was widely supported as a safety net for those who lose their jobs. 

Bill to aid retrenched workers gets one step closer
Photo by Duane Daws
Labour Minister Mildred Oliphant

Call for snap debate on attack against Gordhan

By: News24Wire      19th May 2016 The Democratic Alliance (DA) on Thursday called for a snap debate on what it called the political assault against Finance Minister Pravin Gordhan and the National Treasury. DA shadow minister of finance David Maynier said in a statement that he has sent a request to Speaker of the National... 

Call for snap debate on attack against Gordhan
Photo by Reuters
Finance Minister Pravin Gordhan

Gordhan spy charges could be unconstitutional – law expert

By: News24Wire      19th May 2016 The 1982 Protection of Information Act, which would reportedly be used to charge Finance Minister Pravin Gordhan with espionage, could be unconstitutional. According to criminal law expert James Grant, Sections 3 and 4, which prohibit obtaining and disclosing certain information, deal with... 

Gordhan spy charges could be unconstitutional – law expert
Photo by Duane Daws
Finance Minister Pravin Gordhan

Minister outlines 2016/17 gas IPP, FSRU procurement plans 

By: Terence Creamer     18th May 2016 Energy Minister Tina Joemat-Pettersson indicates that the procurement processes for the gas-to-power (GTP) programme and associated gas infrastructure will begin taking shape during the course of the 2016/17 financial year, with a request for proposals scheduled for the fourth quarter.... 

Minister outlines 2016/17 gas IPP, FSRU procurement plans

National Assembly approves Presidency budget 

By: News24Wire      18th May 2016 The National Assembly on Wednesday voted to approve the Presidency budget. The budget was presented by President Jacob Zuma in Parliament on May 4. 

National Assembly approves Presidency budget
President Jacob Zuma

SA debt not unsustainable – Gordhan 

By: African News Agency      18th May 2016 South Africa’s debt had not reached unsustainable levels and the deficit was being managed well, Finance Minister Pravin Gordhan said on Wednesday. “We kept our promise that we will consolidate our fiscus ever further and above all we said we would make sure that our debt is sustainable. 

SA debt not unsustainable – Gordhan
Finance Minister Pravin Gordhan

Gordhan does not know if Gupta family under investigation

By: Reuters     18th May 2016 South Africa's Finance Minister Pravin Gordhan said on Wednesday he did not know whether a wealthy family with close ties to President Jacob Zuma was under investigation on allegations of illegally moving money out of the country. The main opposition Democratic Alliance says it has written to the... 

Gordhan does not know if Gupta family under investigation
Photo by Duane Daws
Finance Minster Pravin Gordhan
First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Projects

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $149 Close