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Feb 12, 2016
The Competition Tribunal on Friday gave a conditional go-ahead for mobile operators Cell C, MTN and Vodacom to buy out their respective subscriber bases, as South Africa’s last independent service provider Altech Autopage calls it a day. The Allied Electronics...
Feb 12, 2016
The drought in Southern Africa could become one of the worst on record should the current below-normal rainfall continue, the United Nations (UN) World Food Programme said this week. The El Niño conditions presently being experienced in the region had resulted in a...
Feb 12, 2016
Kelibone Masiyane has been appointed the new MD of PPC Zimbabwe, succeeding Njombo Lekula, who had recently been redeployed as MD of PPC’s international operations. Masiyane would be supported by new PPC commercial director Iain Sheasby and new PPC GM of finance...
Feb 12, 2016
Government says it hasn’t yet selected the “lead agent” for its R740-million municipal broadband project, despite indications that Telkom could win the deal. At the 2015 State of the Nation Address (Sona), President Jacob Zuma said government had “decided to...
Feb 12, 2016
AMSA's Saldanha Works
ArcelorMittal South Africa is looking for an independent power producer to build an 800 megawatt gas-fired power station on land at its Saldanha steel works to help ensure its survival, CE Paul O'Flaherty said. ArcelorMittal, which is reviewing its Saldanha operation...
Feb 12, 2016
Consulting company Aurecon has appointed Carlos Seara as its Angola country manager, effective March 1. Seara, who has over two decades of experience in the engineering industry, would succeed Tony Barreto dos Santos who would retire at the end of the year.
Feb 12, 2016
Feb 12, 2016
The Western Cape Department of Transport and Public Works has started work on Phase 1 of a R487-million upgrade to the N1 freeway around Cape Town. The main contractor is Martin & East.
Feb 12, 2016
Feb 12, 2016
Feb 12, 2016
Feb 12, 2016
 
 
 
Feb 12, 2016
Jacob Zuma
President Jacob Zuma has said a greater investment in the country’s infrastructure would assist it during tough economic times. Zuma was speaking at the post State of the Nation discussion at the The New Age Business brief held outside Cape Town.
Feb 12, 2016
South Africa's rand weakened on Friday after President Jacob Zuma's state-of-the-nation address that analysts and economists said did not deal with concerns raised by rating agencies. By 0645 GMT the rand had slipped 0.7% to 15.9100 per dollar, pushed lower by the...
Feb 12, 2016
An artist’s impression of two black holes that are about to merge
In a breakthrough which opens a whole new window on the universe, creates a new branch of astronomy, and vindicates the great physicist Albert Einstein once more, scientists at the US-led Laser Interferometry Gravitational-wave Observatory (Ligo) announced on...
Feb 12, 2016
ArcelorMittal South Africa (AMSA) on Friday posted a full-year loss that was 23 times wider than its loss of a year earlier, as the steelmaker grappled with cheap imports from China and rising labour and electricity costs. The ArcelorMittal SA unit, which is...
Feb 12, 2016
President Jacob Zuma has announced that R7-billion has been committed to new port facilities. Delivering his State of the Nation Address in Parliament on Thursday night, Zuma said government was concerned that South Africa did not own vessels while the country was...
Feb 12, 2016
Trade and Industry Minister Dr Rob Davies
South Africa President Jacob Zuma’s State of the Nation Address would be welcomed by investors, the country’s Trade and Industry Minister Dr Rob Davies said on Thursday night. Additionally, Davies predicted that Sona would impact positively on the department’s...
Feb 12, 2016
South Africa’s representative at the Brics New Development Bank, Vice President Leslie Maasdorp, said emphasis on the National Development Plan was the highlight of the State of the Nation Address on Thursday. “What the president did tonight – despite the disruptions...
Feb 12, 2016
Jacob Zuma
South Africa will not reach its growth target of 5% per year, President Jacob Zuma said in his State of the Nation Address. The National Development Plan stipulates that South Africa’s economy needs to grow by at least 5% annually to make a meaningful dent in...
Feb 12, 2016
President Jacob Zuma
President Jacob Zuma’s State of the Nation speech was filled with old ideas, according to Nomura emerging markets economist Peter Attard Montalto on Thursday. The removal of two centres of government has been considered since 1994, but never happened, said Montalto.
Feb 12, 2016
Demand for shipping containers as an alternative building material has increased across South Africa and the continent, with many companies discovering both uses and a wide variety of creative and socially uplifting applications for them, from student accommodation...
 
 
 
 
Feb 11, 2016
Article contains comments
President Jacob Zuma
President Jacob Zuma unveiled the skeleton of what he described as an economic “turnaround plan” in a State of the Nation Address dominated by the current plight of the South African economy, which was unlikely to grow by more than 1% in 2016 and would not nearly...
Feb 11, 2016
South Africa’s Competition Commission has recommended the Competition Tribunal conditionally approve the proposed merger between Gupta-owned Tegeta Exploration, Glencore’s Optimum coal mine and six target firms. The commission found that the proposed transaction was...
Feb 11, 2016
Incoming joint Sasol CEO Bongani Nqwababa
Incoming joint Sasol CEO Bongani Nqwababa believes “simplistic” correlations of the company’s performance to the oil price will become less relevant in coming years as the revenue and profit contribution of its chemicals business rises in line with its large North...
Feb 11, 2016
Despite ending the year better than expected, South Africa’s manufacturing production prospects for 2016 remained “dim”, stated BNP Paribas securities economist Jeffrey Schultz on Thursday. Manufacturing production ticked up 0.4% year-on-year in December 2015,...
Feb 11, 2016
Cement and concrete manufacturer Lafarge South Africa has confirmed that about 800 of its employees will embark on a protected strike on Thursday evening. Following extensive negotiations, the company and the National Union of Mineworkers (NUM), had not been able to...
Feb 11, 2016
Kobus van Zyl
Daimler Trucks & Buses Southern Africa (DTBSA) announced on Thursday that it had expanded its area of responsibility from South Africa, Lesotho, Botswana, Namibia and Lesotho, to also include Malawi, Mozambique, Zimbabwe and Zambia, through the formation of the...
Feb 11, 2016
Following six years of negotiations between governments, the aviation industry and environmental group observers, the International Civil Aviation Organisation (Icao) has designed the world’s first carbon dioxide (CO2) efficiency standard for aircraft. The standard,...
Feb 11, 2016
JSE-listed ceramic tiles manufacturer Italtile has reported a systemwide turnover increase of 13% to R3.08-billion, while same-store revenue improved by 11% in its financial overview of the six months ended December 31, 2015. During the period, six new TopT stores...
Feb 11, 2016
Little Foot
Two new specimen have been found in a chamber at the Sterkfontein Caves, Witwatersrand University said on Thursday. The specimen, a finger bone and a molar, are part of a set of four specimens associated with early stone tools dated to 2.18-million years ago, the...
Feb 11, 2016
South Africa’s current strained trade conditions “closely resembled” the conditions experienced post the financial recession in 2007/8, the South African Chamber of Commerce and Industry’s (Sacci’s) latest survey found. The January edition of the Trade Conditions...
 
 
 
 
Feb 11, 2016
JSE-listed Accentuate on Thursday renewed its cautionary after confirming suspicions of alleged fraudulent activities at one of its subsidiaries. While investigations were still ongoing into “suspicious activities” at subsidiary Floorworx Africa, Accentuate assured...
Feb 11, 2016
President Jacob Zuma
The rand weakened slightly to R15.92 at 09:55 ahead of President Jacob Zuma’s State of the Nation speech on Thursday, which will be watched closely by local investors hoping for a sign that the country can stave off a credit rating downgrade to “junk status”. “While...
Feb 11, 2016
Feb 11, 2016
Feb 11, 2016
Article contains comments
Zambia's economy is expected to expand by 3.7% this year, largely stable from last year but could grow more than four% in 2017, the deputy finance minister said on Wednesday. An electricity shortage in Africa's no 2 copper producer has stunted the mining sector,...
Feb 11, 2016
Globally, governments have taken steps to ensure that consumption taxes on crossborder transactions, including electronic services to private consumers, are paid in the country where the services are consumed. According to a report released on Thursday by advisory...
Feb 10, 2016
Steel producer Evraz Highveld Steel and Vanadium announced on Wednesday that the Department of Labour had put a “pause” to Training Layoff Scheme (TLS) payments in response to confirmation that the proposed sale of the business to International Resources Limited...
Feb 10, 2016
About 2 000 workers at LafargeHolcim's South African unit will on Thursday launch an open-ended strike over pay, a labour union said on Wednesday. "The industrial strike would encompass the entire workforce and it will be a total withdrawal of labour by our members...
Feb 10, 2016
French Economy, Industry and Digital Affairs Minister Emmanuel Macron has announced the creation of six new French tech hubs in Cape Town, San Francisco, London, Tokyo, New York and Hong Kong. “I am delighted that Cape Town has been designated as a French tech hub....
Feb 10, 2016
Amid declining nuclear costs, more nuclear power stations are being constructed now than in any other time in history, according to Australian energy major Peninsula Energy Limited (PEN) CEO Gus Simpson. Addressing delegates at the 2016 Investing in African Mining...
 
 
 
 
Feb 10, 2016
President Jacob Zuma
Addressing economic concerns and unveiling the policy imperatives of government should be a top priority for this year’s State of the Nation Address (Sona), the South African Chamber of Commerce and Industry (Sacci) said in a statement on Wednesday. Speaking ahead of...
Feb 10, 2016
With confirmation that government and the steel industry are close to finalising a package of measures designed to preserve the future of the embattled primary steel sector, there are concerns that domestic steel consuming industries could be squeezed between...
Feb 10, 2016
Trade union Solidarity on Wednesday called on Public Protector Thuli Madonsela to investigate South Africa’s State-owned defence industrial group Denel’s new joint venture (JV) Denel Asia’s link to the Gupta family. The JV, established in Hong Kong in partnership...
Feb 10, 2016
The Tshwane Metropolitan Police Department (TMPD) took delivery on Wednesday of three RG-12 Nyala armoured internal security vehicles from manufacturer Denel Land Systems. The ceremony took place at TMPD headquarters in Pretoria West. (The metropolitan city of...
Feb 10, 2016
After bouncing back into the black last year, JSE-listed Jasco Electronics has continued its strong performance in the first half of the current financial year on the back of a strong order book and prudent cost management. Headline earnings and headline earnings a...
 
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