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Latest News

DTI proposes establishment of State-owned industrial parks association

By: Schalk Burger     12th October 2017 A State-owned industrial parks (SOIPs) symposium, hosted by the Department of Trade and Industry (DTI) on Wednesday, resolved that an SOIP association be formed to support the strategic planning of the SOIPs, while enhancing the business experience for firms operating from the SOIPs. The proposed... 

Even Stats SA could fall to State capture – Gordhan, Jonas 

By: News24Wire      12th October 2017 Statistics South Africa is not immune to the State capture project, former finance minister Pravin Gordhan and his former deputy Mcebisi Jonas said on Thursday. The warning comes as Statistician-General Pali Lehohla is set to step down in October, after 17 years in charge of Stats SA. 

Taste Holdings’ H1 loss widens

By: Schalk Burger     12th October 2017 The brutal and sustained decline in consumer spending across almost all categories that fast food and luxury goods company Taste Holdings trades in has overshadowed operational gains made during the six months ended August 31, Taste Holdings CEO Carlo Gonzaga said in a statement on Thursday. The... 

Equites’ logistics focus proves resilient in H1

By: Mia Breytenbach     12th October 2017 JSE-listed specialist logistics property developer and landlord Equites Property Fund’s distributions a share for the six months to August 31, increased by 12.02% year-on-year to 60.98c, which is at the upper end of the company’s guidance of 10% to 12% distribution growth for the 2018 financial... 

Equites’ logistics focus proves resilient in H1

Verimark achieves revenue growth, but lower profit in H1

By: Schalk Burger     12th October 2017 Consumer products company Verimark’s revenue for the six months to August 31 grew by 13.7% to R209.7-million, but its pre-tax profit decreased to R2.2-million, from R3.9-million during the first half of the prior financial year. The lower profit is owing to an increase in new products, which... 

South Africa to woo investors at IMF meetings

By: Reuters     12th October 2017 South Africa's Finance Minister Malusi Gigaba and central bank governor Lesetja Kganyago head to Washington this weekend to meet ratings agencies and international investors in a bid to boost growth in an economy that is emerging from recession. The Treasury said in a statement on Thursday that... 

South Africa to woo investors at IMF meetings
Photo by Duane Daws
Finance Minister Malusi Gigaba

Eskom facing threats on multiple fronts, Maritz acknowledges

By: Terence Creamer     12th October 2017 Eskom’s newest interim group CEO Sean Maritz has acknowledged that the utility is facing threats on multiple fronts in light of rapid changes to the global electricity landscape and the constrained outlook for domestic electricity sales. However, in a statement calling for “space and time to... 

Eskom facing threats on multiple fronts, Maritz acknowledges
Photo by Duane Daws
Eskom interim group CEO Sean Maritz

KZN local cane farmers rally together to survive

By: African News Agency      12th October 2017 South African sugar cane growers in Amatikulu, northern KwaZulu-Natal, have rallied together to raise enough capital to buy Unitrans’ assets in the two operational areas. Longstanding haulier Unitrans’ ceased cane haulage operations in their area, impacting the income of 50 commercial growers and... 

Minergy’s Botswana coal project given quantity, quality boost

By: Martin Creamer     12th October 2017 Coal mining and trading company Minergy on Thursday reported both a quantity and quality boost to its Masama coal project in Botswana. The company, headed by CEO Andre Bojé, plans to build an opencast coal mine at Masama with the potential to produce 2.4-million tonnes of coal a year. 

Minergy’s Botswana coal project given quantity, quality boost
Minergy CEO Andre Bojé

Tullow buys 90% stakes in four onshore blocks in Côte d'Ivoire

By: Reuters     12th October 2017 Tullow Oil said it on Thursday it had bought 90% stakes in four onshore blocks in Côte d'Ivoire while state oil company Petroci holds the remaining 10%. The four blocks cover 5 035 km2 and are located on the coast, mostly to the west of Abidjan. 

Bunch of old bananas or building materials of the future?

By: Reuters     12th October 2017 Potatoes reborn as insulation, peanuts processed into partition boards and mushroom bricks that grow in five days - just some of the ways the building trade could change its wasteful ways and construct virtuous new cities. In a report released on Wednesday, international engineering firm Arup set... 

China says EU, US trade moves lack awareness of WTO rules

By: Reuters     12th October 2017 China's commerce ministry said on Thursday that the European Union's new trade rules against Chinese imports lacked awareness of World Trade Organization (WTO) rules, urging the EU to abide by those requirements. Ministry of Commerce spokesperson Gao Feng made the remarks at a regular briefing in... 

ASSAf awards Fanaroff a gold medal

By: Anine Kilian     11th October 2017 The Academy of Science of South Africa (ASSAf) has recognised astronomer and former leader of the biggest global science project in Africa, the Square Kilometre Array, Dr Bernie Fanaroff with a gold medal at its annual awards ceremony on October 11. Fanaroff received his PhD in radio-astronomy... 

Transport key to continental integration, says minister 

By: Anine Kilian     11th October 2017 Intercontinental integration is not feasible without transport playing a critical and strategic role in ensuring that African countries are linked through roads, railway lines, shipping routes and air transport connections, says Deputy Transport Minister Sindisiwe Chikunga. Speaking at the... 

Transport key to continental integration, says minister
Deputy Transport Minister Sindisiwe Chikunga talks about intercontinental integration

Embraer to open Johannesburg aviation training centre

By: Schalk Burger     11th October 2017 Aviation systems engineering and manufacturing firm Embraer will open an aviation training centre at the OR Tambo International airport, in Johannesburg, in the first half of next year. The facility will be the first of its kind in Africa to provide this range of training for qualified pilots,... 

CoM shows off potential of rooftop agriculture in Johannesburg inner city

By: Ilan Solomons     11th October 2017 The Chamber of Mines (CoM) on Wednesday hosted the launch of the Urban Agriculture Initiative, which is aimed at creating a vibrant urban agricultural ecosystem by “innovatively” repurposing disused rooftops and making use of hydroponics and aquaponics to produce agricultural produce for... 

CoM shows off potential of rooftop agriculture in Johannesburg inner city
Photo by Chamber of Mines
The Chamber of Mines is participating in and has funded a pilot project to assess the feasibility of growing herbs and vegetables on the rooftops

One year into new trade deal, European commissioner urges South African firms to take fuller advantage

By: Terence Creamer     11th October 2017 European Commissioner for Trade Cecilia Malmström will use her upcoming visit to South African to urge business to take fuller advantage of the recently concluded trade agreement between the European Union (EU) and six Southern African countries. The deal came into force just over a year ago on... 

One year into new trade deal, European commissioner urges South African firms to take fuller advantage
European Commissioner for Trade Cecilia Malmström

Fresh produce market agents, association referred to Competition Tribunal for prosecution

By: Schalk Burger     11th October 2017 Fourteen fresh produce market agents and association, the Institute for Market Agents of South Africa, have been referred to the Competition Tribunal for prosecution in relation to charges of alleged price-fixing and fixing trading conditions in contravention of the Competition Act, the... 

AB InBev focusing on its public interest commitments as it celebrates one year as megabrewer

By: Schalk Burger     11th October 2017 Brewing multinational Anheuser-Busch (AB) InBev has worked hard over the past year to meet its public interest commitments following the business combination with SAB in late 2016, SAB and AB InBev Africa zone president Ricardo Tadeu said in a statement on Wednesday. The public interest... 

South Africa should consider agromining – US professor 

By: Martin Creamer     11th October 2017 South Africans, who have been mining for metals for more than a century, were this week urged to farm for metals. South African-born Stephen Haggerty, a distinguished research professor of Florida International University in the US who spoke to Mining Weekly Online while in Johannesburg, outlined... 

South Africa should consider agromining – US professor
Florida International University distinguished research professor Stephen E Haggerty talks to Mining Weekly Online’s Martin Creamer on the potential to farm for metals. Photographs: Duane Daws. Video and Video Editing: Lionel de Silva.

MPs dismayed as chief procurement officer silent on Eskom contracts

By: African News Agency      11th October 2017 Acting chief procurement officer Willie Mathebula apologised to Parliament’s standing committee on finance on Wednesday for giving a “sub-standard presentation” after members expressed dismay that he claimed no direct knowledge of the withdrawal of a damning report on Eskom’s coal contracts with... 

MPs dismayed as chief procurement officer silent on Eskom contracts

20% growth not outpacing the market, says Cartrack CEO

By: Irma Venter     11th October 2017 Despite compound five-year revenue growth of 20%, fleet management and vehicle tracking group Cartrack CEO Zak Calisto is not as happy as one expects him to be. “We want to grow faster than this. We are doing what the market is doing.” 

20% growth not outpacing the market, says Cartrack CEO
Zak Calisto

Oil rises on tighter market, but doubts swirl on sustainability

By: Reuters     11th October 2017 Oil prices rose for a third day on Wednesday as Opec said the market was gradually tightening after years of oversupply, but the 2018 outlook was less certain. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $56.80 per barrel at 1129 GMT, up 19 cents. Brent... 

Testimony in Parly probe into Eskom / Gupta links to start next week

By: African News Agency      11th October 2017 The list of names of witnesses to be called to testify at a parliamentary inquiry into state capture at South Africa’s sole power utility, Eskom, has been finalised and the probe officially kicks off on October 17, a statement from the national legislature said on Wednesday. “The Portfolio... 

Testimony in Parly probe into Eskom / Gupta links to start next week

China's top coke producer to curb output in pollution war

By: Reuters     11th October 2017 China's top coke producer Shanxi Coking will slash output for coke and some chemical products including tar and methanol during the coming winter months as part of Beijing's campaign against air pollution. The company will trim around 900 000 t of coke and 360 000 t of chemicals from production... 

SA black consumer body urges regulator to reject Eskom’s tariff hike application

By: African News Agency      11th October 2017 The National Black Consumer Council (NBCC) on Wednesday said that it opposed Eskom’s proposed application for a 20% electricity tariff increase next year. TheNBCC urged the National Energy Regulator of South Africa (Nersa) to reject the troubled power utility’s application and rather grant it “a... 

South Africa vulnerable to any sharp rise in global rates, World Bank warns

By: Terence Creamer     11th October 2017 A quicker and sharper-than-expected normalisation in interest rates in the US could trigger a reversal in capital flows to South Africa, the World Bank’s latest ‘Africa’s Pulse’ warns, adding that any sharp increase in global interest rates could also complicate debt dynamics for sub-Saharan... 

South Africa vulnerable to any sharp rise in global rates, World Bank warns
In September, Fed chairperson Janet Yellen said she was 'wary of moving too gradually' on normalisation

Echo Polska acquires Polish retail property portfolio

By: Schalk Burger     11th October 2017 JSE-listed Echo Polska Properties has acquired a portfolio of 12 retail properties – of which eight are shopping centres and four are retail parks, with more than 620 stores – across Poland. The portfolio has an aggregate gross lettable area (GLA) of about 450 000 m2 – doubling the GLA of Echo... 

ARM appoints two nonexecutive directors

By: Martin Creamer     11th October 2017 Diversified mining company African Rainbow Minerals (ARM) on Wednesday announced the appointment of two new nonexecutive directors. They are David Noko, who has been appointed as an independent nonexecutive director, and Jan Steenkamp, who has been appointed as a nonexecutive director. 

ARM appoints two nonexecutive directors
David Noko

Cost, currency pressures to weigh marginally on Mondi’s FY results

By: Schalk Burger     11th October 2017 Continuing cost pressures and negative currency impacts affecting packaging and paper multinational Mondi are expected to result in an underlying performance for the full year modestly below market expectations, despite expectations of a strong final quarter supported by generally higher average... 

Durban harbour remains closed after devastating storm

By: News24Wire      11th October 2017 Durban harbour was still closed on Wednesday morning with authorities having spent Tuesday night refloating five vessels that were pushed aground and emergency services were still on high alert after a massive storm that killed at least six people. "[Emergency Medical Services] are still on high... 

Durban harbour remains closed after devastating storm

Kobe Steel shares plunge as data fabrication concerns deepen

By: Reuters     11th October 2017 Kobe Steel shares tumbled a further 16% on Wednesday after it admitted it may have fabricated data on iron powder products and media reported the possible sale of its real estate business. The latest disclosure comes after Japan’s No.3 steelmaker said on the weekend it had falsified data to show... 

CSIR seeking to develop new methods to improve local infrastructure production  

By: Keith Campbell     11th October 2017 The Council for Scientific and Industrial Research (CSIR) continues to research innovations and initiatives to transform the local construction industry. This was reported by CSIR principal researcher Llewellyn van Wyk at the recent sixth CSIR Conference in Pretoria. He noted that the country has... 

Cape Town's groundwater plan targets 'impossible' 

By: News24Wire      11th October 2017 Key partners in the extraction of groundwater to augment the City of Cape Town's water supply believe that the city's current 100-million litres per day target is impossible. Speaking as an audience member at a Muizenberg Festival gathering on Tuesday, Umvoto earth sciences consultancy director... 

Uber says committed to Egypt, announces $20m investment

By: Reuters     11th October 2017 Uber is committed to Egypt despite challenges presented by sweeping economic reforms and record inflation, the company said on Tuesday as it announced $20-million of investment in its new support centre in Cairo. The Egyptian pound has lost half its value and fuel prices have jumped by up to 50%... 

Rand will rebound against dollar by end of 2017 - analysts

By: News24Wire      11th October 2017 Analysts at Rand Merchant Bank and ING Groep predict that the rand, the second-worst emerging-market performer in the past month, will rebound against the dollar by year-end as the pull of improving fundamentals and the hunt for yield support buyers amid lingering political and fiscal risks. The... 

 Rand will rebound against dollar by end of 2017 - analysts

South Africa's economic woes domestic, downgrade risks high – deputy SARB governor

By: Reuters     11th October 2017 South African deputy central bank governor Kuben Naidoo said on Tuesday domestic factors are the main cause of a frail economy and the risk of further credit downgrades is "quite significant". Painting a bleak picture during a monetary policy forum in Cape Town, Naidoo said a downgrade to South... 

South Africa's economic woes domestic, downgrade risks high – deputy SARB governor
SARB deputy governor Kuben Naidoo

South African nuclear deal to boost debt – Safcei 

By: African News Agency      11th October 2017 The Southern African Faith Communities’ Environment Institute (Safcei) told South African President Jacob Zuma and the Minister of Energy on Tuesday that it was worried about the country’s planned nuclear deal triggering a surge in debt. The faith-based NGO said it had delivered a letter to the... 

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