http://www.engineeringnews.co.za
R/€ = 14.85 Change: -0.08
R/$ = 12.09 Change: -0.13
Au 1338.10 $/oz Change: -14.69
Pt 928.00 $/oz Change: -22.81
 

Macro and Micro News

Call made for ‘broad coalition’ to reverse South Africa’s premature deindustrialisation

By: Terence Creamer     Updated 1 hour 49 minutes ago A new no-holds-barred study of South Africa’s economic transformation over the past two decades concludes that the country has not only deindustrialised prematurely, but has also failed to materially transform its economic structure to one that encourages inclusive growth and development. Titled... 

Minimum wage Bill now with Labour Dept

By: Thabi Madiba     Updated 2 hours 46 minutes ago The National Minimum Wage Bill is now with the Department of Labour to be redrafted with public input agreed to by the Portfolio Committee on Labour. The committee’s acting chairperson Sharome van Schalkwyk said that the department will now take time to rework the Bill for submission again to the... 

Minimum wage Bill now with Labour Dept

Independent board urges M&R shareholders to reject Aton offer

By: Simone Liedtke     Updated 7 hours ago An independent board established by Murray & Roberts (M&R) to assess the proposal by German family-owned business Aton to acquire all shares in M&R at R15 a share, has again recommended that M&R shareholders reject the offer. In an announcement on Friday, the M&R independent board reiterated that... 

DTI opposed to temporary scrapping of EV duties, but open to EU tariff re-set

By: Terence Creamer     20th April 2018 The Department of Trade and Industry (DTI) has confirmed that it is opposed to reducing protection on the import of electric vehicles (EVs) as a way of increasing domestic demand, arguing that automotive firms should, instead, use the duty offsets available to them through production rebate... 

DTI opposed to temporary scrapping of EV duties, but open to EU tariff re-set

Africa's last absolute monarch renames Swaziland as eSwatini

By: Reuters     20th April 2018 Swaziland's King Mswati III, Africa's last absolute monarch, said on Thursday he was officially renaming the country as the Kingdom of eSwatini. He announced the change to eSwatini, meaning "land of the Swazis", in the local Swati language at Golden Jubilee celebrations of the fifteeth... 

Gauteng province to streamline approval process for projects to boost investment – MEC

By: African News Agency      19th April 2018 The Gauteng provincial government is working at streamlining the process of assessing the environmental impact of projects in order to speed up the approval process for businesses and encourage investment, its member of the executive council for economic development, environment, agriculture and... 

BLSA throws weight behind Ramaphosa's R1.2trn investment drive

By: News24Wire      19th April 2018 President Cyril Ramaphosa’s initiative to raise R1-trillion in new investments over five years could add 4 percentage points to the country’s foreign direct investment, Business Leadership South Africa (BLSA) said Thursday, as it welcomed the plan. "If we achieve these figures, I believe we can... 

 BLSA throws weight behind Ramaphosa's R1.2trn investment drive
Photo by Creamer Media
BLSA CEO Bonang Mohale

Ramaphosa says he'll use his private sector experience to grow SA economy

By: News24Wire      19th April 2018 President Cyril Ramaphosa will approach the task of rebuilding South Africa's image as an attractive investment destination “with a private-sector lens”, he said in an interview with the Financial Times on Wednesday.  The president is in the UK where he is leading South Africa’s delegation to the... 

 Ramaphosa says he'll use his private sector experience to grow SA economy
President Cyril Ramaphosa

Ramaphosa's plan to attract R1.2tr in investment marks potential new dawn

By: News24Wire      18th April 2018 President Cyril Ramaphosa’s plan to raise over R1-trillion in new foreign investment has been hailed by economists as the beginning of a “new dawn” for South Africa after years of low growth and policy uncertainty. On Monday, Ramaphosa announced that South Africa will later this year host a major... 

 Ramaphosa's plan to attract R1.2tr in investment marks potential new dawn
President Cyril Ramaphosa

World Bank sees microgrids playing bigger role in Africa’s electrification as solar costs fall

By: Terence Creamer     18th April 2018 Changes in generation technologies, including the sharp fall in solar photovoltaic (PV) costs, means that the evolution of electricity systems in sub-Saharan Africa (SSA) will need to involve more than one national grid, a new World Bank report argues. “The path to universal electrification will... 

World Bank sees microgrids playing bigger role in Africa’s electrification as solar costs fall
Bank says microgrids have worked well in East and South Asia

Ramaphosa scores R857m UK funding from Prime Minister May

By: News24Wire      18th April 2018 President Cyril Ramaphosa and British Prime Minister Theresa May agreed on a deal worth millions to help South Africa improve its business environment. Ramaphosa is in the UK on a working visit to London to attend the Commonwealth Heads of Government Meeting, which will take place on Thursday and... 

Ramaphosa scores R857m UK funding from Prime Minister May
President Cyril Ramaphosa & British Prime Minister Theresa May

IMF makes positive about-turn on SA growth outlook after January slash

By: News24Wire      17th April 2018 The International Monetary Fund (IMF) is upbeat about South Africa's Gross Domestic Product (GDP) growth in 2018, raising its forecast to 1.5% after cutting its prediction to 0.9% in January. The international lender released its World Economic Outlook report in Washington DC on Tuesday, ahead of... 

 IMF makes positive about-turn on SA growth outlook after January slash

DA calls for each sector to have its own minimum wage

By: News24Wire      17th April 2018 The DA has rejected the idea of a "blanket, universal" minimum wage, calling for each sector to have its own minimum wage instead. DA leader Mmusi Maimane, policy head Gwen Ngwenya and labour spokesperson Michael Bagraim briefed the media on the party's policy outcomes adopted at its seventh... 

Ramaphosa team to seek $100bn investment for South Africa

By: Reuters     17th April 2018 South African President Cyril Ramaphosa appointed a team of business and finance experts on Monday to hunt the globe for $100-billion in investment to boost the ailing economy. The team of economic envoys includes two former finance ministers – Trevor Manuel and Pravin Gordhan, who now holds the... 

Ramaphosa team to seek $100bn investment for South Africa
Photo by Creamer Media
President Cyril Ramaphosa

DBSA appoints new CFO

By: Anine Kilian     16th April 2018 Boitumelo Mosako has been appointed CFO of development finance institution the Development Bank of Southern Africa (DBSA), effective April 1. Prior to joining the DBSA, she served as the CFO at the South African Bureau of Standards. 

KPMG South Africa reviewing work done by its partners

By: Reuters     16th April 2018 KPMG South Africa is reviewing work done by its partners in the wake of the resignation of two partners who faced disciplinary charges, its chief executive said on Sunday, another setback for the firm whose work is under scrutiny by authorities. CEO Nhlamulo Dlomu said the resignation of partners... 

Sense of optimism for greater industrialisation in Africa prevails – DTI

By: Simone Liedtke     13th April 2018 Regardless of barriers to trade between African countries, Department of Trade and Industry (DTI) African integration and industrial development chief director Nigel Gwynne-Evans believes there is currently a sense of far greater optimism among heads of State that these issues can be overcome.... 

Trade conditions remain muted – Sacci

By: Anine Kilian     12th April 2018 South Africa’s trade conditions remained constrained in March with the Trade Activity Index (TAI) of the South African Chamber of Commerce and Industry’s (Sacci’s) Trade Conditions Survey having decreased to 43 in March, from 44 in February. The TAI was also three index points lower than in March... 

Global trade growth strong but at risk if conflict escalates, WTO says

By: Reuters     12th April 2018 World trade in goods is maintaining a robust recovery, but it still might falter if trade tensions escalate further, the World Trade Organization said in its annual forecast on Thursday. Trade in goods will grow 4.4% this year after a decade averaging 3.0% a year following the financial crisis.... 

Namibia scraps plan to force white-owned businesses to sell 25% stake to blacks

By: Reuters     12th April 2018 Namibia has scrapped a clause in its economic empowerment framework that would have forced white businesses to sell a 25% stake to previously disadvantaged blacks, President Hage Geingob said on Wednesday. Making the announcement during his state of the nation address, Geingob said a revised... 

ABB forms digital research, innovation partnership with Wits

By: Schalk Burger     11th April 2018 Power management multinational ABB on Wednesday signed a research and development and innovation partnership agreement with the University of the Witwatersrand (Wits) with the view to support and tap into digital innovation to augment its own research, development and engineering work, said ABB... 

IMF chief optimistic on growth, but warns against trade protectionism

By: Reuters     11th April 2018 The International Monetary Fund (IMF) is optimistic on the outlook for global growth but warned darker clouds are looming due to fading fiscal stimulus and rising interest rates, the fund's Managing Director, Christine Lagarde, said on Wednesday. In a speech in Hong Kong, Lagarde said the top... 

South Africa's growth recovery at risk from lack of policy clarity – SARB

By: Reuters     11th April 2018 South Africa's recent economic growth turnaround is unlikely to last as 2017's boom fades and the outlook for reform remains murky, the South African Reserve Bank (SARB) said on Tuesday. The South African economy expanded by a surprising 1% in 2017 as agriculture recovered from a drought the year... 

Extreme inequality in South Africa is constraining growth and investment 

By: Terence Creamer     10th April 2018 New analysis by the World Bank has confirmed that South Africa’s is not only the world’s most unequal country, but that extreme inequality has become a major constraint to higher levels of economic growth, because it is undermining policy certainty and depressing investment. The bank’s latest... 

Extreme inequality in South Africa is constraining growth and investment
World Bank program leader Sebastien Dessus and country director Paul Noumba Um on the negative impact that extreme inequality in South Africa is having on growth and investment. Camera Work & Editing: Darlene Creamer. Recorded: 10.4.2018

Gauteng open for business as InvestSA OSS launched

By: Simone Liedtke     10th April 2018 Boosting investor confidence is critical to positioning South Africa as a premium destination for foreign direct investment. To assist in achieving this, Trade and Industry Minister Dr Rob Davies, together with Gauteng Premier David Makhura, on Tuesday launched the InvestSA One Stop Shop (OSS) in... 

Feb manufacturing output disappoints on firmer rand, bottlenecks

By: Reuters     10th April 2018 South Africa's manufacturing output came in below expectations in February following a run of five months of robust growth, with analysts pointing to a stronger rand and various bottlenecks, including the cost of doing business. Manufacturing output rose 0.6% year-on-year in February, well below... 

‘High priority’ IRP update to be published soon

By: Terence Creamer     10th April 2018 Department of Energy (DoE) director-general Thabane Zulu says the updated Integrated Resource Plan (IRP) is undergoing a final set of processes and consultations, as stipulated by Cabinet in December, before being published in the Government Gazette. Speaking at the Africa Power Roundtable in... 

‘High priority’ IRP update to be published soon
Photo by Dylan Slater
Department of Energy director-general Thabane Zulu

Aton makes formal offer to M&R shareholders

By: Simone Liedtke     10th April 2018 German family-owned business Aton has made a formal offer to Murray & Roberts (M&R) shareholders to acquire all shares in M&R at R15 a share. The company on Tuesday said it had already acquired a further 3.1% stake in M&R from a top ten shareholder and that it will soon buy a further 6.5%... 

Monale Ratsoma appointed as Brics bank Africa region director-general

By: Simone Liedtke     10th April 2018 The National Treasury’s deputy director-general for economic policy Monale Ratsoma has been appointed director-general of the Brazil, Russia, India, China and South Africa, or Brics, New Development Bank (NDB) Africa Regional Centre. The appointment is effective from April 16. 

Saftu submits first parliamentary objection to minimum wage

By: News24Wire      9th April 2018 The parliamentary committee on labour has accepted the submission by the South African Federation of Trade Unions (Saftu) on both the minimum wage and proposed amendments to the labour laws.  The minimum wage was initially supposed to be introduced on May 1. However, this has been delayed. 

 Saftu submits first parliamentary objection to minimum wage

Rand spikes on Nene comments, renewed trade war fears

By: News24Wire      9th April 2018 The rand's weakening of over 1% to the US dollar just after noon on Monday has economists puzzled. At least one analyst attributed the spike to a knee-jerk reaction to comments made by Finance Minister Nhlanhla Nene on Monday morning. 

 Rand spikes on Nene comments, renewed trade war fears

Global IT spending to grow to $3.7tr in 2018 amid new growth cycle – Gartner

By: Schalk Burger     9th April 2018 The total global spend on information technology (IT) is projected to rise by 6.2% to $3.7-trillion this year, indicating a new growth cycle, a forecast released by market research multinational Gartner, on Monday, reveals. “This is the highest annual growth rate that Gartner has forecast since... 

Govt to launch investment centre in Gauteng

By: African News Agency      9th April 2018 South African government is set to launch a provincial InvestSA One Stop Shop (OSS) in Gauteng in a bid to attract investment in the province, the Department of Trade and Industry (the dti) said on Monday.  The dti said that the objective of the provincial InvestSA OSS is to provide professional... 

Govt to launch investment centre in Gauteng
Photo by Creamer Media
DTI Minister Rob Davies

SA public servants association warns of 'drastic measures' in wage discussions

By: African News Agency      6th April 2018 South Africa's Public Servants Association (PSA) on Friday called on workers to resort to "drastic measures" to force the government to conclude 2018 wage negotiations. "The negotiations process which has been delayed numerous times before by the employer continued on April 4 and 5 in the form of... 

 SA public servants association warns of 'drastic measures' in wage discussions

Visa launches challenge to create payment innovations

By: Schalk Burger     6th April 2018 Payment technology multinational Visa launched its global Everywhere Initiative in Africa for financial technology (fintech) start-ups to stimulate payment innovations and the nascent fintech industry in the region. “The goal is to allow for cashless economies and financial inclusion. Visa aims... 

Tangible results needed to maintain business confidence momentum – Sacci

By: Simone Liedtke     5th April 2018 Although an improved business mood is still present, it has to be augmented by an improvement in the real economy and further focus on better financial conditions, the South African Chamber of Commerce and Industry (Sacci) said on Thursday, releasing the results of its latest business confidence... 

WWF welcomes energy minister signing renewable energy contracts

By: African News Agency      5th April 2018 The World Wide Fund for Nature (WWF) on Thursday applauded South African Energy Minister Jeff Radebe's signing off of a R56-billion contract with Independent Power Producers (IPPs). Radebe on Wednesday signed the hotly-contested renewable energy agreements with 27 independent power producers on... 

WWF welcomes energy minister signing renewable energy contracts
Energy Minister Jeff Radebe
First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Projects

more

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close