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Oct 23, 2014
Updated 33 minutes ago Emerging economies did have the ability to overcome the current difficult economic conditions and slow growth forecast, Brazilian Ambassador Carneiro De Mondonça said on Thursday. Speaking at the South African Chamber of Commerce and Industry (Sacci) 2014 Convention,...
Oct 23, 2014
Updated 43 minutes ago Relevant government departments and solar industry stakeholders represented by the South African Photovoltaic Industy Association (Sapvia) are due to meet next week in Kimberley, in the Northern Cape, to decisively bed down an industry “master plan” that would guide...
Oct 23, 2014
Small Business Development Minister Lindiwe Zulu
Updated 58 minutes ago Government could not take responsibility for radical economic transformation and small business development on its own, Small Business Development Minister Lindiwe Zulu asserted on Thursday. Speaking at the South African Chamber of Commerce and Industry (Sacci) 2014...
Oct 23, 2014
Oct 23, 2014
Updated 3 hours ago The North West provincial government remains steadfast in its commitment to provide clean water to residents in Mahikeng, premier Supra Mahumapelo said on Wednesday. Mahumapelo launched a R300 million project for the upgrading of the Mmabatho Water Treatment Works as...
Oct 22, 2014
Article contains comments
Trade union Solidarity warned on Wednesday that ongoing restructuring and retrenchments in the information and communication technology (ICT) industry continued to put employees in the sector under “immense” pressure. This as the union claimed it had received...
Oct 22, 2014
Directors of investment holding company Combined Motor Holdings (CMH) say they are satisfied with the results achieved in the six months ended August 31, during which time the local economic environment continued to battle impediments to growth and national dealer...
Oct 22, 2014
In the Medium-Term Budget Policy Statement Finance Minister Nhlanhla Nene has outlined concrete plans to consolidate South Africa’s pubic finances and restore macroeconomic balances. The proposed adjustments – lower than planned spending and increased tax revenues -...
Oct 22, 2014
Oct 22, 2014
Oct 22, 2014
Oct 22, 2014
 
 
 
Oct 22, 2014
The Competition Commission on Wednesday announced that it had unconditionally approved the merger between JSE-listed Distribution and Warehousing Network’s (Dawn’s) Watertech and Sanitaryware business with Grohe International. Under the terms of the merger agreement,...
Oct 22, 2014
Article contains comments
Finance Minister Nhlanhla Nene confirmed a further direct allocation to power utility Eskom of at least R20-billion. But he also stressed on Wednesday that the injection would have no impact on the Budget deficit as the capital would be raised through the sale of...
Oct 22, 2014
Government’s plans for reining in the country’s public procurement would be outlined in the Public Procurement Review, which will be published next month. Finance Minister Nhlanhla Nene told Parliament on Wednesday that the document would “clearly” outline the...
Oct 22, 2014
National Treasury this week froze the public personnel headcount and embarked on a review of funded vacancies in an effort to curb State spending and re-establish a sustainable foundation for the public purse. In his inaugural Medium-Term Budget Policy Statement...
Oct 22, 2014
Government aimed to fast-track certain “fast-growing” infrastructure programmes, despite cutting back on expenditure over the next few years, the 2014 Medium-Term Budget Policy Statement (MTBPS) revealed on Wednesday. The MTBPS, released by new Finance Minister...
Oct 22, 2014
Article contains comments
Finance Minister Nhlanhla Nene
Fiscal consolidation could no longer be postponed, Finance Minister Nhlanhla Nene told lawmakers on Wednesday, while also announcing a R25-billion lowering of the expenditure ceiling and flagging plans to raise an additional R27-billion through higher taxes in the...
Oct 22, 2014
Oct 22, 2014
Andrew Parsons
Despite several real estate investment trusts (REITs) extolling the virtues of portfolio diversification, Resolution Capital Australia MD Andrew Parsons has cautioned against this strategy, advising trusts to rather simplify and specialise their asset portfolio....
Oct 22, 2014
Global crude steel output in September, at 134.4-million tonnes, was marginally lower than the 134.5-million tonnes produced in September 2013. According to the World Steel Association (worldsteel), China produced 67.5-million tonnes of crude steel in September,...
Oct 22, 2014
Stand a chance to win a CAT Phone.  Subscribe to Engineering News & Mining Weekly at a 30% discounted rate. The weekly print magazines will be posted to your preferred postal address. Also gain online access to: Project Browser - providing an overview of latest...
 
 
 
 
Oct 21, 2014
The Cape Town International Convention Centre (CTICC) has outperformed its targets over the past financial year and contributed R3.1-billion to the gross domestic product in the 2013/14 financial year. CTICC CEO Julie-May Ellingson said the convention centre had been...
Oct 21, 2014
Public Enterprises Minister Lynne Brown
Public Enterprises Minister Lynne Brown has released details of the remuneration of the chairpersons and nonexecutive directors of the various State-owned company boards falling under her Ministry. The remuneration figures, which are attached, are based on figures...
Oct 21, 2014
Article contains comments
Installed wind power capacity could swell by 530% to 2,000 gigawatts (GW) by 2030, supplying up to 19% of global electricity, a report from a trade association and Greenpeace said on Tuesday. It said installed wind energy capacity totalled 318 GW at the end of last...
Oct 21, 2014
Grindrod rail divisional CE James Holley
JSE-listed Grindrod’s rail division on Tuesday vowed to make rail operations more cost-effective in Africa, as Grindrod Locomotives unveiled its new, cost-effective fit-for-purpose shunting and short-haul locomotive. The new GS7, launched at Rovos Rail in Pretoria,...
Oct 21, 2014
Article contains comments
The Department of Small Business Development (DSBD) would soon invite applications from local municipalities to apply for incentives to cover the building or renovation of infrastructure that could support small, medium-sized and microenterprises (SMMEs), DSBD acting...
Oct 21, 2014
Trade and Industry Minister Dr Rob Davies has reiterated his department’s support for agroprocessing, saying on Monday that it had injected some R1.2-billion into the industry since 2009. Government’s Industrial Policy Action Plan had identified the agroprocessing...
Oct 21, 2014
Article contains comments
Public Works Minister Thulas Nxesi has established a task team comprising construction and property industry stakeholders to develop concrete, workable plans to accelerate transformation in the built environment and establish processes to monitor and evaluate its...
Oct 21, 2014
Trade and Industry Deputy Minister Mzwandile Masina says the department has so far registered 18 qualifying black industrialists in a range of sectors to grow the South African economy. “We will continue to accept applications from industrialists, as we have set a...
Oct 21, 2014
Article contains comments
The small business development department stood by the national government's position on e-tolls, while the e-toll advisory panel continued its work, Minister Lindiwe Zulu said on Tuesday. "We've got a national government position on that [e-tolls] but there is a...
Oct 21, 2014
Article contains comments
South Africa’s national oil company PetroSA produced 14% less refined product in 2013/14 than budgeted, owing to diminishing gas feedstock. The State-owned group also warned that that inadequate feedstock would remain a constraint on its future performance. The...
 
 
 
 
Oct 21, 2014
Internet access in east Africa is still relatively slow and costly but a Djibouti-based technology start-up company has ambitions to help change that. Djibouti Data Center (DDC), set up by a group of local and international investors 18 months ago, is the first data...
Oct 21, 2014
Article contains comments
Small Business Development Minister Lindiwe Zulu
Ensuring that small, medium-sized and microenterprises (SMMEs) were included in the mainstream economy had to form part of the “radical economic transformation” targeted by the current administration, Small Business Development Minister Lindiwe Zulu said on Tuesday....
Oct 21, 2014
Uganda could rely on income from future oil exports to finance an $8-billion railway if funding talks with China fail to bear fruit, its president said. Yoweri Museveni confirmed that Uganda had started negotiations with China on building the line that would link to...
Oct 21, 2014
JSE-listed materials supplier Afrimat expects to report basic earnings per share (EPS) of between 59c and 64c, when it releases its interim results for the six months ended August 31. This would be between 20% and 30% higher than the EPS of 49.1c recorded in the...
Oct 21, 2014
JSE-listed Freedom Properties has appointed Jan Francois (Franky) Pretorius as CFO and FD to succeed Richard Eaton, who resigned on October 17. Pretorius is a qualified chartered accountant and completed his articles with KPMG, where he was eventually promoted to...
Oct 21, 2014
Certain regulatory approvals remain outstanding in Telkom’s proposed R2.67-billion takeover of JSE-listed Business Connexion (BCX). BCX noted in a statement to shareholders that the Namibian Competition Commission had given its approval of the deal on October 8 and...
Oct 21, 2014
Total CEO Christophe de Margerie
The CE of French oil major Total, Christophe de Margerie, was killed when a business jet collided with a snow plough during takeoff at Moscow's Vnukovo International Airport, the company and airport officials said. The collision occurred late on Monday, just minutes...
Oct 20, 2014
A former employee of the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) and his accomplice have each been sentenced to 20 years imprisonment after being found guilty of fraud by the Specialised Commercial Court, in...
Oct 20, 2014
The Richards Bay Bulk Terminal, in KwaZulu-Natal, loaded 1.49-million tons of cargo in September, exceeding its monthly target of 1.32-million tons, Transnet Port Terminals (TPT) said on Monday. TPT said the reaching of vessel targets ahead of deadline created...
Oct 20, 2014
Article contains comments
Judge Dennis Davis
The revenue implications for South Africa of ‘base erosion and profit shifting’ by corporate taxpayers are firmly in the crosshairs of the Davis Tax Committee (DTC) and Judge Dennis Davis hinted on Monday that recommendations were being considered to “detect and...
 
 
 
 
Oct 20, 2014
The South African Road Federation (SARF) has expressed concern over the increasing number of road accident-related deaths on South African roads and has appealed for road safety to become an urgent priority, reiterating its commitment to offer its assistance to...
Oct 20, 2014
JSE-listed Metair Investments on Monday assured shareholders that no member of its group had been implicated or listed in connection with the Competition Commission’s investigation into alleged collusion within the South African automotive component industry. The...
Oct 20, 2014
Energy company Shell has handed over rare, high-quality three-dimensional (3D) seismic data, collected off the west coast of South Africa, to the universities of the Western Cape and Cape Town to be used for the advancement of research and skills development relevant...
Oct 20, 2014
Resources, financial services and healthcare companies faced significant threats arising from changing legislation and political policy, a recent study by professional services firm Deloitte of the JSE’s top 100 companies has shown. To produce its Dissecting...
Oct 20, 2014
Article contains comments
Violence and intimidation during times of employee strike action has become commonplace and altering South Africa’s legislation is unlikely to end the aggressive stance taken by disgruntled workers. South Africa’s “root problem” was not only the consequence of a...
 
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