http://www.engineeringnews.co.za
R/€ = 13.67 Change: -0.05
R/$ = 12.94 Change: -0.07
Au 1257.21 $/oz Change: 7.96
Pt 1026.20 $/oz Change: 18.20
 

Economy News

IMF's Christine Lagarde found guilty of negligence 

By: News24Wire      20th December 2016 Christine Lagarde, the chief of the International Monetary Fund (IMF), has been found guilty of negligence by a French court over a massive payout to a tycoon when she was the country's finance minister, but will not be fined or face prison. Lagarde was found to be at fault on Monday for failing... 

Railway company investments to facilitate economic growth

By: Sascha Solomons     16th December 2016 The current investments by the Passenger Rail Agency of South Africa (PRASA) and State-owned freight utility Transnet will largely facilitate economic growth in South Africa through major infrastructure projects currently under way, says consulting and auditing firm KPMG infrastructure deal... 

Railway company investments to facilitate economic growth
Photo by Duane Daws
DE BUYS SCOTT investments by the PRASA and Transnet will largely facilitate economic growth in South Africa

Rate of growth in social investment by SA corporates stalled in 2016

By: Dylan Slater     16th December 2016 Private sector companies and State-owned enterprises in South Africa spent R8.6-billion on social development during 2015/16, representing a 6% increase in nominal growth from the previous year, according to corporate social investment (CSI) and sustainability consultancy Trialogue.  

Rate of growth in social investment by SA corporates stalled in 2016
HANDBOOK LAUNCH Trialogue director Cathy Duff presents the findings of research into South African corporate social investment expenditure

Umkhonto missile export programme now in its final stages

By: Keith Campbell     16th December 2016 South African State-owned defence industrial group Denel announced at the end of last month that extensive testing of the Denel Dynamics Umkhonto (“Spear”, in English) naval surface-to-air missile, for an export customer, would take place early next year. The Umkhonto forms part of the armament... 

New African owners of Ibhubesi gas prospect aim to settle Ankerlig supply deal in 2017

By: Terence Creamer     15th December 2016 The new African owners of the Ibhubesi Gas Project (IGP), off South Africa’s West Coast, report that negotiations with Eskom for the supply of gas to the Ankerlig power station are ongoing, with the conclusion of a gas supply agreement (GSA) targeted for the second quarter of 2017. The project... 

New African owners of Ibhubesi gas prospect aim to settle Ankerlig supply deal in 2017
Sunbird executive chairperson Kerwin Rana

UN, Coca-Cola upskill 25 000 women entrepreneurs 

By: Anine Kilian     14th December 2016 The United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), together with The Coca-Cola Company, on Wednesday celebrated the upskilling of 25 000 female micro entrepreneurs in South Africa, achieved through the entities’ project to empower women entrepreneurs through a... 

UN, Coca-Cola upskill 25 000 women entrepreneurs
Department of Small Business Development Edith Vries talks to Engineering News Online about female entrepreneurs in South Africa

DTI-funded manufacturing intern programme saves local industry R6m

By: Megan van Wyngaardt     14th December 2016 Local industry has saved R6-million in resources, including 133 000 kℓ of water, after 16 manufacturing facilities nationwide implemented the Resource Efficient and Cleaner Production (RECP) internship programme, funded by the Department of Trade and Industry (DTI) to conduct onsite resource... 

Weak building environment, transformation deal pushes Group Five into interim loss

By: Megan van Wyngaardt     14th December 2016 JSE-listed construction company Group Five expects to report a loss a share and headline loss a share of at least 170c apiece for the six months to December 31, down from headline earnings of 168c apiece in the comparative period of 2015. In a statement to shareholders published on Wednesday, the... 

Trade conditions remain muted in November

By: Natasha Odendaal     14th December 2016 The South African Chamber of Commerce and Industry (Sacci) trade survey for November, released on Wednesday, showed continued constraints in trade, with the seasonally adjusted Trade Activity Index (TAI) remaining in negative territory at 49 points. The November TAI is a slight uptick on the 48... 

Trade conditions remain muted in November

Foodcorp asks for review of price-fixing charges against it

By: Megan van Wyngaardt     14th December 2016 The Competition Tribunal has given the Competition Commission until January 31, to provide clarity on some of the charges bought against one of four companies in the pelagic fish sector. The commission, in its complaint, alleged that Pioneer Fishing and local food company Foodcorp had entered... 

Solidarity calls for curatorship over bargaining council

By: Megan van Wyngaardt     13th December 2016 In a bid to turn the Metal and Engineering Industries Bargaining Council (MEIBC) around, trade union Solidarity has called for the council to be placed under curatorship and will approach the Labour Court for an order to appoint a curator or trustee with full business rescue powers. Solidarity... 

Agility, innovation key for business survival in 2017

By: Natasha Odendaal     13th December 2016 With 2016 now drawing to a close, the year has left in its wake devastating drought, causing water shortages and restrictions; local political uncertainty; ongoing global macroeconomic instability; increasing cost pressures; and fears of credit rating downgrades, paralysing companies from making... 

Eskom insists Koeberg not affected by manufacturing anomalies afflicting French reactors 

By: Terence Creamer     13th December 2016 South African electricity utility Eskom insisted on Tuesday that the Koeberg nuclear power station, located in the Western Cape, is not affected by manufacturing anomalies that have afflicted the French nuclear industry this year, resulting in several reactor outages. The State-owned company... 

Eskom insists Koeberg not affected by manufacturing anomalies afflicting French reactors

Gordhan lashes Eskom in address to Numsa

By: African News Agency      13th December 2016 Finance Minister Pravin Gordhan on Monday criticised State-owned enterprises for obstructing government’s objectives through corruption, as he addressed the tenth conference of the National Union of Metalworkers of SA (Numsa). “Not all boards are working for us…They must work for South Africa... 

Gordhan lashes Eskom in address to Numsa
Photo by Reuters
Finance Minister Pravin Gordhan

Unionist Vavi tells Numsa delegates proposed minimum wage is an ‘insult’

By: African News Agency      13th December 2016 Unionist Zwelinzima Vavi on Monday told delegates to the National Union of Metalworkers of South Africa’s (Numsa) tenth national congress in Cape Town that the proposed national minimum wage was an “insult”. The former General Secretary of the Congress of South African Trade Unions (Cosatu) told... 

Unionist Vavi tells Numsa delegates proposed minimum wage is an ‘insult’
Photo by Duane Daws
Unionist Zwelinzima Vavi

Sars commissioner faces fraud charges

By: Sane Dhlamini     12th December 2016 Nonprofit anticorruption organisation Corruption Watch (CW) has laid criminal charges against South African Revenue Services (Sars) commissioner Tom Moyane for fraud and corruption. The charges relate to the matter involving alleged fraud and corruption committed by senior Sars employees, Jonas... 

Sars commissioner faces fraud charges
Photo by Duane Daws
SARS Commissioner Tom Moyane

Employment increases 1% in Q3, says Stats SA

By: African News Agency      12th December 2016 Employment in South Africa increased by 93 000 between June and September on a quarter-on-quarter basis, Statistics South Africa (Stats SA) said on Monday. This reflected a net quarterly increase of one% between June and September, following a revised decrease of 96 000 employees between March... 

South Africa can learn from SADC neighbours about policy – Leon 

By: Megan van Wyngaardt     12th December 2016 Despite being a small, agriculturally marginal, predominantly semi-arid, landlocked nation, Botswana has experienced rapid economic development, owing to the correct policies being in place. This, Herbert Smith Freehills Africa practice cochairperson and partner Peter Leon said, showed what can... 

South Africa can learn from SADC neighbours about policy – Leon
Photo by Duane Daws
Herbert Smith Freehills Africa practice cochairperson and partner Peter Leon

Zambia eyes energy diversification, reviews South Africa's progress

By: Natasha Odendaal     9th December 2016 Zambia has started reviewing its options to reverse the country's current energy constraints and diversify its own energy mix, leaving no viable potential initiatives off the table as it seeks to become a "power trader". The mostly hydropowered Southern African country is currently battling... 

Zambia eyes energy diversification, reviews South Africa's progress
Zambian President Edgar Lungu

Former President Mbeki appointed Unisa chancellor

By: Samantha Herbst     9th December 2016 In an effort to sustain the reputable profile of outgoing University of South Africa (Unisa) chancellor Judge Bernard Ngoepe, who served the university for 15 years before stepping down this week, Unisa has appointed former South African President Thabo Mbeki its new chancellor. In a media... 

Former President Mbeki appointed Unisa chancellor
Former President Thabo Mbeki

Consolidation provides opportunity for development

By: Robyn Wilkinson     9th December 2016 With low growth in the South African economy, there is a trend in both the commercial office and industrial property sectors towards consolidation and the relocation of existing operations to well-connected locations, says consulting engineering firm Arup. 

Consolidation provides opportunity for development
DIGITAL DESIGNS The design of Pricewaterhouse Coopers’ new headquarters showcases the benefits of using digital software such as parametric modelling

Consulting engineers ready to help with irregular expenditure fight

By: Dylan Slater     9th December 2016 Firms that are members of nonprofit organisation Consulting Engineers South Africa (Cesa) made known at the yearly Cesa Infrastructure Indaba, that they are ready to partner with government to reduce irregular expenditure.  

Importance of energy efficiency highlighted at DoE conference

By: Simone Liedtke     9th December 2016 The importance of energy efficiency as part of policy is increasing in many countries, subsequently making it important to develop and maintain well founded indicators to better inform policymaking. 

Importance of energy efficiency highlighted at DoE conference
Photo by Simone Liedtke
ENERGY CONFERENCE The conference was hosted by the Department of Energy, in partnership with the National Business Initiative and Business Unity South Africa

Property developers shift focus to manage economic risk

By: Robyn Wilkinson     9th December 2016 There has been a slowdown in the development of commercial properties as developers shift their focus to residential, healthcare and industrial projects to best manage risks in South Africa’s economic climate, says business management consultant WSP | Parsons Brinckerhoff Africa regional director... 

Property developers  shift focus to manage  economic risk
WILLIAM JOHNSTON Best practice designs that incorporate a holistic and sustainable approach to property development is becoming entrenched among South Africa developers

South African commercial aviation sector outperforming economy, index shows

By: Keith Campbell     9th December 2016 The South African commercial aviation sector “is alive and well and outperforming most other sectors of the economy by a considerable margin” reported the Commercial Aviation Association of Southern Africa (Caasa) in a statement released on November 29. The release marked the publication of the... 

Consumer confidence still in negative territory

By: Megan van Wyngaardt     8th December 2016 The Bureau for Economic Research (BER) consumer confidence index (CCI) registered -3 in the third quarter. Although still negative, it was a significant improvement, after slipping to -11 the previous quarter. Nevertheless, the index remains well below its long-term average of 4 and has now been... 

Africa squandering its potential, head of UN agency tells UK Parliament

By: African News Agency      8th December 2016 Africa is a world leader in poverty and hunger due to a lack of committed leadership and rampant corruption, said Dr Kanayo F. Nwanze, president of the International Fund for Agricultural Development (IFAD), in an address to the upper house of the UK Parliament on Wednesday. Britain is a founding... 

Africa squandering its potential, head of UN agency tells UK Parliament

DoE urged to re-run IRP base case without ‘artificial constraints’ 

By: Terence Creamer     8th December 2016 A call has been made for the Integrated Resource Plan (IRP) base case to be re-run in order to generate a “least-cost” outcome that is free from the “artificial constraints” imposed on renewable energy in the current draft. The base case, published by the Department of Energy (DoE) on November... 

DoE urged to re-run IRP base case without ‘artificial constraints’

SA-Zambia cement economic ties

By: African News Agency      8th December 2016 South African and Zambian officials committed to strengthen cooperation in trade and investment, science and technology, defence and energy following high level discussions in Pretoria on Thursday. “We further committed to actively encourage both South African and Zambian companies to take full... 

SA-Zambia cement economic ties

CompComm cracks down on oils, margarine manufacturers

By: Megan van Wyngaardt     8th December 2016 The Competition Commission on Thursday conducted a search and seizure operation at the premises of five South African companies involved in the manufacture and distribution of refined edible oils, baking fats and margarine, operating in Gauteng and Kwazulu-Natal. The commission noted that it had... 

South Africa’s economic, political landscape 

     8th December 2016 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about South Africa’s economic and political performance in 2016 and what the country can expect in 2017. 

South Africa’s economic, political landscape
South Africa’s economic, political landscape

Southern Africa faces worst drought in decades

By: African News Agency      8th December 2016 Nearly 14-million people in southern Africa are in need of emergency humanitarian assistance as the region faces the worst El Nino induced drought in decades. United Nations (UN humanitarian agencies and partners launched a revised action plan to outlining their response to the needs of an... 

Southern Africa faces worst drought in decades

UK seeks to strengthen ties with S Africa amid Brexit

By: Megan van Wyngaardt     7th December 2016 To deepen the already strong economic ties with one of its key trade partners, UK Chancellor of the Exchequer Philip Hammond has committed up to £35-million for an ambitious new prosperity programme over the next four years, which will support inclusive economic development in South Africa, by... 

Public consultations for IRP, IEP get under way as DoE attracts criticism over timelines, pricing basis 

By: Natasha Odendaal     7th December 2016 Planned nationwide public consultations got under way in Boksburg on Wednesday for the Department of Energy’s (DoE’s) long-awaited draft Integrated Energy Plan (IEP) and updated Integrated Resource Plan (IRP), drawing some industry criticism regarding timelines and an outdated pricing structure.... 

Public consultations for IRP, IEP get under way as DoE attracts criticism over timelines, pricing basis

Ratings agencies not overly influenced by political turbulence, Ramaphosa says 

By: African News Agency      7th December 2016 International credit rating agencies have shown themselves not to be overly concerned by South African’s “robust” politics, Deputy President Cyril Ramaphosa said on Wednesday. “In the end the political noise that they observe is not their main consideration,” Ramaphosa told the National Assembly... 

Ratings agencies not overly influenced by political turbulence, Ramaphosa says
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Building confidence index ticks up, but conditions unsatisfactory

By: Megan van Wyngaardt     7th December 2016 The First National Bank (FNB)/Bureau for Economic Research Building Confidence Index reached its highest level in a year, at 40 points, in the fourth quarter.  This was two points higher than the 38 points recorded in the third quarter, bolstered by confidence being higher in all but two of the... 

Building confidence index ticks up, but conditions unsatisfactory

Numsa reiterates rejecting minimum wage, throws shade at Ramaphosa 

By: African News Agency      7th December 2016 The National Union of Metalworkers (Numsa) on Wednesday reiterated its rejection for the proposed national minimum wage and also said that it did not support the endorsement of deputy president Cyril Ramaphosa as the next president of the African National Congress (ANC). In a fiery media briefing... 

Numsa reiterates rejecting minimum wage, throws shade at Ramaphosa

Latest News

more

Latest Videos

more

Projects

more

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 $119 Close