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Aug 04, 2015
Updated 16 minutes ago South Africa has been shortlisted by The European Outsourcing Association (EOA) for the Offshoring Destination of the Year 2015 award, competing against Bulgaria and Latvia. Now in its sixth year, the EOA Awards recognised and celebrated the efforts of companies who...
Aug 04, 2015
Trade and Industry Minister Dr Rob Davies
Updated 58 minutes ago South Africa planned to offer five reasons as to why it should retain its status as an African Growth and Opportunity Act (Agoa) beneficiary during public hearings scheduled for Friday in Washington DC. The US House of Representatives passed a ten-year extension to...
Aug 04, 2015
Updated 1 hour 4 minutes ago The Competition Commission on Tuesday approved telecommunications giant Telkom’s buy-out of Business Connexion (BCX) with conditions. The conditions included a price freeze on affected products in the upstream by Telkom, a limit on the number of job losses arising...
Aug 04, 2015
Updated 1 hour 7 minutes ago Vacationing was the main reason for tourists to visit South Africa in 2014, with a significant majority of 95.7% of tourists on holiday, while business travel and students made up less than 4% of tourists.
Aug 04, 2015
Updated 1 hour 36 minutes ago Kenya Airways, which reported a record loss in its year ended March, may require a $500-million to $600-million bailout, the Kenyan finance minister said on Tuesday. Profit at the carrier, which is part-owned by AirFrance-KLM, lost 29.71-billion shillings...
Aug 04, 2015
Updated 1 hour 38 minutes ago The City of Cape Town on Tuesday announced it was moving ahead with its plans to sell up land, making space for an industrial park in Khayelitsha, but were not yet able to give a date for the bidding process to begin. “There are many Council processes which would...
Aug 04, 2015
Clinton Ephron
Updated 1 hour 42 minutes ago Financially stricken Optimum Coal has been hit by a double whammy – huge potential penalty claims from State electricity utility Eskom plus a suspension of its mining licence by the Department of Mineral Resources (DMR) for alleged inhumane retrenchment. In the face...
Aug 04, 2015
Updated 2 hours 6 minutes ago Construction on the R1-billion, 50 000 m2 Thavhani Mall, in Thohoyandou, Limpopo, has gotten under way. The mall would be the anchor and catalyst development within a new, bigger commercial development node on a 27 ha site in the Thulamela municipality, dubbed...
Aug 04, 2015
Aug 04, 2015
Aug 04, 2015
Aug 04, 2015
 
 
 
Aug 04, 2015
Gauteng Finance MEC Barbara Creecy
Updated 2 hours 39 minutes ago The Gauteng provincial government (GPG) announced on Tuesday that South African banking firm First National Bank (FNB), a division of First Rand Bank, had been reappointed to manage the multibillion-rand centralised banking services account for the province for the...
Aug 04, 2015
Ompi Aphane
Updated 2 hours 44 minutes ago South Africa could deploy power barges using gas to generate electricity to help overcome chronic supply shortages, a senior government official said on Tuesday. Under the proposal, one of 170 submissions sent to the government after it requested ideas for a...
Aug 04, 2015
Updated 2 hours 49 minutes ago The state of confidence as measured by the Barclays purchasing managers’ index (PMI) in July is heavily distorted by the base effects of the instability in the South African economy, spilling over from the labour unrest in the mining and metals and engineering...
Aug 04, 2015
Updated 3 hours ago Engineering and technology specialist Steinmüller Engineering has opened a branch office in South Africa, which will focus on providing services to the power and industrial markets in South Africa and sub-Saharan Africa. The company was formed in Germany in 2003 and,...
Aug 04, 2015
PetroSA CEO Nosizwe Nokwe-Macamo
Updated 3 hours ago Western Cape High Court judge Dennis Davis has dismissed with costs an urgent application launched by a suspended PetroSA boss. The company’s suspended chief financial officer Lindiwe Mthimunye-Bakoro brought an urgent application to have two of the company’s board...
Aug 04, 2015
Updated 3 hours ago Concern about the free stake the South African government will take in shale gas projects continues to be the main obstacle to foreign investment in exploration in that field, mineral resources officials told MPs on Tuesday. “The definition of free carry interest in...
Aug 04, 2015
Wessel Steffens
Updated 3 hours ago The outlook for the new-vehicle market has deteriorated, with new-vehicle sales declining by 2.5% for the first seven months of 2015, compared with same period last year, says Absa Vehicle and Asset Finance managing executive Wessel Steffens. “Economic growth,...
Aug 04, 2015
Updated 3 hours ago An e-toll collection system (ETC) testing phase has commenced on the N3 Toll Route between Durban and Gauteng. N3 Toll Concession marketing manager, Andy Visser, told Fin24 that the testing phase will continue for two to three months.
Aug 04, 2015
Updated 5 hours ago The Department of Water and Sanitation has announced plans to build a pipeline to supply water to Jericho in the North West where residents have battled with a shortage of drinking water for a number of weeks. The DWS announced a R2.8-million pipeline which would...
Aug 04, 2015
Updated 6 hours ago Global programme management and construction consultancy Turner & Townsend increased its turnover for the financial year to April 30, to R7.2-billion, with turnover in Africa up 3% to more than R290-million. The R7.2-billion was up 11% on the R6.8-billion achieved in...
 
 
 
 
Aug 04, 2015
Us President Barack Obama
Updated 7 hours ago Alpha Natural Resources Inc, one of the largest US coal companies, became the latest in the hard-hit industry to seek bankruptcy on Monday. The move comes as President Barack Obama is expected to unveil tough new measures to cut greenhouse gas emissions from...
Aug 04, 2015
Coal mine into business rescue
Updated 7 hours ago Business rescue proceedings are to begin at both Optimum Coal Holdings and Optimum Coal Mine after attempts to renegotiate a 22-year-old lossmaking supply agreement with Eskom ended in the State electricity utility asserting its rights to past and future penalty...
Aug 04, 2015
Updated 7 hours ago The ailing Free State dairy industry received a breather from a milk broker who agreed to buy from regional farmers, following the closure of the 27-year-old Montic Clocolan milk depot. Martin Swanepoel, CEO of Montic holding company Sontic, told Fin24 that the...
Aug 04, 2015
The Democratic Alliance (DA) has come out in support of an independent inquiry into the management of the Department of Telecommunications and Postal Services (DTPS). Telecommunications and Postal Services Minister Dr Siyabonga Cwele and the Public Service Commission...
Aug 04, 2015
The Opposition to Urban Tolling Alliance (Outa) has derided Minister of Transport Dipuo Peters’ report on statistics showing an increase in e-toll collections. According to Outa, Peters' comparison of e-toll collections for May and June with the preceding seven...
Aug 04, 2015
Management instability continues unabated at South African Airways (SAA) where the human resources GM Thuli Mpshe has now been appointed to run the airline on a temporary basis and a dispute rages over the validity of the renewed contract of CFO Wolf Meyer‚ Business...
Aug 04, 2015
This eight-page brief is a synopsis of key developments in the electricity industry over the past 12 months, including details of South Africa’s constrained power system; State-owned power utility Eskom’s financial status and tariffs, capacity expansion programme,...
Aug 03, 2015
The Department of Labour (DoL) will on Tuesday start hosting a series of national public hearings to review the farming and forestry sectors’ minimum wages and conditions of employment as prescribed in Sectoral Determination (SD) 13. The department explained in a...
Aug 03, 2015
The Independent Communications Authority of South Africa (Icasa) on Monday announced that it was “eager” to “reinitiate” the licensing process for the assignment of the high-demand spectrum. Icasa, which was responsible for the allocation of spectrum to broadcasting...
Aug 03, 2015
Lien Visage, a community development worker at Donkerbos, near Rietfontein, has won the Witzenberg regional of the 2015 Farmworker of the Year competition, an initiative celebrating excellence in the Western Cape’s agricultural sector. “South Africa has earned a...
 
 
 
 
Aug 03, 2015
Article contains comments
Sanral CEO Nazir Alli
State-owned South African National Roads Agency Limited (Sanral) is undertaking 32 projects, totalling R2.2-billion, in the Eastern Cape, this year.
Aug 03, 2015
One of South Africa’s most dangerous roads, the Moloto Road which runs north of Pretoria and passes through three provinces, has been incorporated into the South African National Roads Agency (Sanral) road network. The government gazette announcing the incorporation...
Aug 03, 2015
State-owned freight logistics group Transnet says it will begin executing its ‘Africa Strategy’ during the current financial year, having already grown cross-border revenues from R1.5-billion in 2013/14 to R2.6-billion in 2014/15. The company on Monday distributed...
Aug 03, 2015
American Eagle gold coins
Eagle gold bullion coin sales were up fourfold-plus in the US in July and gold volumes up twofold-plus on the Shanghai Gold Exchange, Mitsubishi Corporation International noted on Monday. Last month the US Mint sold 170 000 oz, the highest number of coins in more...
Aug 03, 2015
Due to increased electricity demand and a shortage of generation capacity, Eskom will implement stage 2 load shedding this afternoon. This after the power system was constrained but stable for much of Monday.
Aug 03, 2015
Minister of Telecommunications and Postal Services Siyabonga Cwele
Minister of Telecommunications and Postal Services Siyabonga Cwele says he agrees with the Public Service Commission’s recommendation that there should be an independent inquiry into the management affairs of the department. The Minister is considering placing...
Aug 03, 2015
Karsten Wellner
Health and care brands group Ascendis Health on Monday announced its first international acquisition – an initial 49% stake in Spanish pharmaceutical group Farmalider for R210-million.
Aug 03, 2015
Sanaco secretary-general Thulani Mabuza
A three-year-old memorandum of understanding (MoU) has progressed to its midway point, as the Energy and Water Sector Education and Training Authority (Ewseta) and South African National Apex Cooperatives (Sanaco) kicked off the next phase of their deep rural skills...
Aug 03, 2015
New-vehicle sales in July declined by 6.1%, to 54 112 units, compared with the same month last year. Sales numbers released by the Department of Trade and Industry on Monday, showed that new passenger car sales plummeted by 8.8% in June, to 36 506 units.
Aug 03, 2015
Thuli Madonsela
There have been "defiant trends" against the Public Protector and this is eroding the office's ability to do its job, Thuli Madonsela said on Monday. She told National Assembly Speaker Baleka Mbete, through the media at a briefing in Pretoria, that there was...
 
 
 
 
Aug 03, 2015
Article contains comments
Hong Kong-listed Shanghai Zendai – the group that plans to develop its expansive Modderfontein-based property into a 22 km2 mixed-use ‘city’ – has held a series of public consultations to brief the public on its plans for the proposed development, spelling out the...
Aug 03, 2015
Article contains comments
Energy Minister Tina Joemat-Pettersson
The Democratic Alliance says it is planning to call on parliament’s portfolio committee on energy to summon Minister of Energy Tina Joemat-Pettersson to provide details on the country’s multi-billion rand Nuclear Build Programme. DA energy affairs spokesman Gordon...
Aug 03, 2015
The seasonally adjusted Barclays Purchasing Managers’ Index (PMI) remained unchanged at 51.4 index points in July, following a strong gain, albeit from very depressed levels in May, and a further rise in June. Barclays Africa economist Miyelani Maluleke explained...
Aug 03, 2015
Perched on the muddy bank of a river meandering through rolling green hills, the Lemurs' Park near Madagascar's capital is rated one of the city's top attractions, but you would not know it from the number of visitors. On a Saturday in what is meant to be high...
Aug 03, 2015
Eastern Trading, the controlling shareholder of AH-Vest, known as All Joy Foods, has acquired Winplas Packaging to add to the larger group’s backward integrated model of producing its own cans and tomato paste. The company stated on Monday that it had bought Winplas,...
 
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