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Jul 30, 2014
Updated 1 hour 55 minutes ago South African electricity tariffs are likely to increase by more than the 8% already sanctioned for the year starting April 1, 2015, after the energy regulator determined on Wednesday that Eskom had under recovered R7.82-billion in revenue between 2010 and 2013. The...
Jul 30, 2014
Updated 2 hours 16 minutes ago Thailand Automotive Parts Manufacturers Association (Tapma) president Achana Limpaitoon has expressed interest in partnering and forming joint ventures (JVs) with the organisation’s South African counterparts to grow the automotive manufacturing industries of both...
Jul 30, 2014
Updated 3 hours ago Trade and Industry Minister Dr Rob Davies has issued, for public comment, the application for the designation of an industrial development zone (IDZ) at Tshiame, in Harrismith, in the Free State, as well as the granting of an operator’s permit for an IDZ. The...
Jul 30, 2014
Updated 4 hours ago Tullow Oil drifted into the red after writing off more than $400-million in exploration costs but the Africa-focused explorer remained confident that its strategy will pay off. A disappointing run of oil wells exploration in Mauritania, Ethiopia and Norway over the...
Jul 30, 2014
Updated 4 hours ago In its first monthly decrease since February, the South African Chamber of Commerce and Industry’s (Sacci’s) Copper Theft Barometer level has contracted to R12.2-million in June from R15.4-million in May, coinciding with a drop in the volumes of copper stolen...
Jul 30, 2014
Updated 5 hours ago Integrated shipping and logistics group Grindrod and black-owned investment firm Brimstone Investment Corporation have successfully concluded a black economic-empowerment (BEE) transaction, which has resulted in a Brimstone-led consortium acquiring an 8.4% interest...
Jul 30, 2014
Gibela CEO Marc Granger
Updated 5 hours ago Gibela has three main challenges in executing the R51-billion contract to supply the Passenger Rail Agency of South Africa (PRASA) with 600 new trains, says CEO Marc Granger.   The first is to complete the design engineering of the X’Trapolis MEtric GAuge (Mega)...
Jul 30, 2014
Updated 5 hours ago The Obama administration on Tuesday pushed for Congress to renew a 14-year-old trade programme giving African countries duty-free access to US markets, warning that allowing the programme to expire would disrupt trade flows between the two regions. US Trade...
Jul 30, 2014
Jul 30, 2014
Jul 29, 2014
Jul 29, 2014
 
 
 
Jul 29, 2014
The Western Cape High Court will on Monday hear a Sanral application for information about the proposed N1/N2 Winelands Toll Highway Project to be kept secret, the City of Cape Town said. The application would be heard behind closed doors, mayoral committee member...
Jul 29, 2014
Striking National Union of Metalworkers of South Africa (Numsa) members had until Wednesday to report for duty at the Ngqura Container Terminal or face dismissal, Transnet warned on Tuesday. The Labour Court this week declared the 14-week Numsa-led strike at the port...
Jul 29, 2014
Japanese trading house Mitsui & Co is in talks to sell its stake in Equatorial Guinea's liquefied natural gas (LNG) export project, a senior source with direct knowledge of the matter said. Mitsui's 8.5% stake in the country's LNG facility may be snapped up by one or...
Jul 29, 2014
AECI CEO Mark Dytor
AECI’s explosives arm AEL has branched out into Australia as it teams up with undisclosed customers for the supply of explosives into this new market. An AECI office had been established in Brisbane, while preparations were under way to ship a bulk emulsion plant...
Jul 29, 2014
Article contains comments
South Africa’s unemployment rate rose by 0.3 of a percentage point, or 87 000 persons, quarter-on-quarter to 25.5% during the three months ended June to reach its highest level since 2008, Statistics South Africa (Stats SA) revealed on Tuesday in its Quarterly...
Jul 29, 2014
Article contains comments
The Gauteng Department of Infrastructure Development (DID) has been allocated R4.9-billion to implement capital and maintenance projects, mainly for the health and education departments, in the province. Delivering her Budget Vote, on Tuesday, the MEC for...
Jul 29, 2014
Article contains comments
State-owned electricity producer Eskom reported on Tuesday that a five-point recovery plan was being introduced in a bid to place its underperforming power station fleet on a “sustainable path”. However, Eskom cautioned that an additional 7 400 MW of capacity...
Jul 29, 2014
Top Indian mobile carrier Bharti Airtel posted a 61% rise in quarterly profit on Tuesday but fell short of analyst estimates as its African business continued to weigh. Bharti Airtel's African business has been a drag on the company, four years after it spent...
Jul 29, 2014
Gwede Mantashe
Society needs to debate solutions to strikes that last too long, ANC secretary general Gwede Mantashe said on Tuesday. "Such a debate must not be seen as an attack on workers' rights and an affront on the right to strike but rather an important step towards...
Jul 29, 2014
Public Enterprises Minister Lynne Brown
Public Enterprises Minister Lynne Brown told the Joint Parliamentary Committee on Energy and Public Enterprises on Tuesday that the new Eskom CEO would be appointed within weeks. She said she was “treating the appointment of a permanent CEO with urgency”.
 
 
 
 
Jul 29, 2014
The first stage of the definitive mining feasibility study (DMFS) for Tanzania-focused mineral exploration and development company Kibo Mining’s Rukwa Coal to Power project (RCPP) would be completed by the end of November, the company reported on Tuesday. Kibo...
Jul 29, 2014
Paper and packaging group Mondi said on Tuesday that it expects basic earnings a share for the half-year ended June 30 to be between €0.49 and €0.54, remaining largely flat on the €0.49 posted in the first half of the prior year. Similarly, basic headline...
Jul 29, 2014
Management, engineering and development consultancy Mott MacDonald said on Tuesday that it was providing the construction and operational monitoring, environmental assessments and independent water compliance auditing for the R1.8-billion Mamba cement plant project....
Jul 29, 2014
Article contains comments
A 1.2 MW solar photovoltaic (PV) plant, positioned on the rooftop of a Cape Town office block, would feed excess electricity into the City of Cape Town’s electrical distribution network. The Black River Park solar project would sell electricity back to the city for...
Jul 29, 2014
While the Steel and Engineering Industries Federation of Southern Africa (Seifsa) celebrated the end of the month-long engineering and metals industry strike, fellow employer organisation, the National Employers’ Association of South Africa (Neasa), stated that it...
Jul 29, 2014
Public Enterprises Minister Lynne Brown and Northern Cape Premier Sylvia Lucas have officially opened Transnet’s wagon refurbishment facility. The two officially launched the Transnet Wagons Refurbishing Facility in De Aar on Monday, which will maintain various...
Jul 29, 2014
Despite the five-month strike in the platinum sector impacting AECI’s half-year performance, the sale of its Modderfontein property and improved performance from the chemical cluster hiked headline earnings per share (HEPS) by 10%. The JSE-listed group’s...
Jul 29, 2014
US President Barack Obama
US President Barack Obama on Monday gave a preview of a summit he will hold with African leaders next week, saying African nations should look inward for solutions to economic woes and not make "excuses" based on a history of dependence and colonisation. Speaking to...
Jul 29, 2014
Communications Minister Faith Muthambi
There was nothing wrong with Cabinet members having business interests as long as there was no conflict of interest, Communications Minister Faith Muthambi said. "Government has noted media reports which highlight the private business interests of President Jacob...
Jul 29, 2014
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
 
 
 
 
Jul 28, 2014
Numsa general secretary Irvin Jim
South African engineering union Numsa has agreed to end a four-week strike after accepting a wage increase offer from employers, union leader Irvin Jim said on Monday. Numsa, South Africa's largest union, has accepted a 10% annual pay rise fixed for three years for...
Jul 28, 2014
Trade union Solidarity on Monday accepted the Steel and Engineering Industries Federation of Southern Africa’s (Seifsa’s) revised wage offer. The three-year wage agreement, settled within the Metal and Engineering Industries Bargaining Council (MEIBC), comprised...
Jul 28, 2014
Rob Davies
South Africa will use the upcoming US-Africa Leaders' Summit, which will also encompass the 2014 edition of the Africa Growth and Opportunity Act (Agoa) Forum, to appeal for a 15-year extension of the nonreciprocal trade arrangement, as well as South Africa’s...
Jul 28, 2014
According to forecasts, electricity demand is expected to increase significantly over the evening peak on Monday owing to cold weather, with “no cushioning” should anything unexpected occur, energy utility Eskom has cautioned. “We urge customers to reduce their...
Jul 28, 2014
Sapoa legal officer Eugenia Makgabo
The South African Property Owners Association (Sapoa) would contact the Department of Water and Sanitation (DWS) to raise concerns relating to the issuing of water use licences and the risk the current issuing process posed to development activity. In a statement on...
Jul 28, 2014
Despite the continued reconfiguration of the new Department of Telecommunications and Postal Services (DTPS), “things are not going to fall through the cracks”, DTPS director-general Rosey Sekese has assured Parliament. Presenting the department’s strategic...
Jul 28, 2014
Exxaro CEO Sipho Nkosi
Black-controlled mining company Exxaro is to acquire the South African coal mines of French petroleum giant Total to create 100% black-owned coal assets. The JSE-listed Exxaro, headed by CEO Sipho Nkosi, has entered into a binding sale and purchase agreement with...
Jul 28, 2014
President Jacob Zuma
South Africa and Lesotho are expected to strengthen bilateral relations when President Jacob Zuma kicks off his working visit to Lesotho, on Tuesday.  During the visit, Zuma is expected to discuss bilateral cooperation and regional and multilateral matters with the...
Jul 28, 2014
A global survey of 3 500 businesses in 40 countries has found that 81% of executives worldwide believe the implementation of a proposed new intergovernmental action plan to shape equitable international tax systems will not be successful. The 15-point international...
Jul 28, 2014
Delta International has embarked on a programme that would see the recently reverse-listed property fund potentially acquire $250-million of assets across Africa. The Africa-focused group raised more than $87-million through a private placement to kick-start its...
 
 
 
 
Jul 28, 2014
Already home to the No 1 and No 2 Silo developments, the final phase of the Cape Town-based V&A Waterfront’s Silo district – which would see the addition of the No 3, No 4, No 5 and No 6 Silo projects – was on track for an early 2017 completion, after receiving...
Jul 28, 2014
State-owned freight logistics group Transnet has awarded integrated solutions provider Tenova Mining & Minerals South Africa a contract for the supply of three reverse-pulse bagfilters. Two of the filters would be installed on multiproduct rail tipplers and one on a...
Jul 28, 2014
Liquidators have now been appointed to wrap up the liquidation of financially distressed civil engineering group Protech Khuthele Holdings. Theodor Wilhelm van den Heever, Mark Abraham Christian, Irene Susan Ponnen and Mohamed Ismail Patel have been appointed to...
Jul 28, 2014
Aluminium products supplier Hulamin, which on Monday reported a 42% year-on-year lift in earnings for the first half of 2014, has revealed that it is preparing an application for reciprocal import tariff protection, which it plans to lodge shortly with the...
Jul 28, 2014
Basil Read CEO Neville Nicolau
Construction, mining, development and engineering group Basil Read on Monday announced the appointment of Neville Nicolau as CEO and executive director of the company as from September 1. Nicolau, a former CEO of Anglo American Platinum and a former COO and executive...
 
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