http://www.engineeringnews.co.za
R/€ = 13.43 Change: 0.01
R/$ = 12.44 Change: 0.03
Au 1245.01 $/oz Change: -3.26
Pt 963.50 $/oz Change: -1.00
 

Topic

Gordhan on getting South Africa’s growth, transformation dynamic right

By: Terence Creamer     24th March 2017 Finance Minister Pravin Gordhan has again responded to questions about whether his ‘inclusive growth’ narrative is at odds with the ‘radical economic transformation’ vision being espoused by President Jacob Zuma. Addressing businesspeople at a function hosted by Deloitte in Johannesburg on... 

Denel heads to court to dispel doubts over legality of Denel Asia JV

By: Natasha Odendaal     24th March 2017 Denel has taken to the High Court of South Africa in Gauteng to clear up doubts over the legal standing of Denel Asia, a joint venture (JV) with VR Laser Asia. The State-owned defence group on Friday applied to the High Court in Pretoria for an order declaring that it obtained approval to form... 

G20’s Compact with Africa launched with widespread support

By: Natasha Odendaal     20th March 2017 Clear support emerged last week from Group of 20 (G20) members’ Finance Ministers and central bank governors for the broadening of international economic and financial cooperation with African countries to “foster sustainable and inclusive growth” in line with the African Union’s Agenda 2063. At... 

Business Leadership South Africa disputes proposed customs functions transfer

By: Megan van Wyngaardt     15th March 2017 Business Leadership South Africa (BLSA) on Wednesday said it opposes the proposed transfer of the South African Revenue Services’ (Sars’) customs functions to a new border management agency, which is what the Border Management Agency Bill, currently before Parliament, proposes. “Sars must remain... 

ANC wants Presidency to have more powers to allocate State resources

By: News24Wire      13th March 2017 The frican National Congress (ANC) has proposed that the Presidency be strengthened to become a "strategic centre of power" in government, driving resource allocation within the state. This is one of the key proposals in the governing party’s policy document on legislature and governance released... 

R150bn small-business opportunity 

By: Terence Creamer     10th March 2017 The new Preferential Procurement Policy Framework Act (PPFA) regulations, which will take effect on April 1, have the potential to provide a significant stimulus to small business development in South Africa. The updated rules explicitly allow for a “set aside” in tenders for firms with a certain... 

Taking the gap

By: Terence Creamer     3rd March 2017 Like a Mamelodi Sundowns striker against a hapless Orlando Pirates defender, Finance Minister Pravin Gordhan skilfully took the gap left by President Jacob Zuma in defining what is meant by “radical socio-economic transformation”. Only days earlier the President had a real opportunity to use the... 

Changes to procurement rules open R150bn opportunity for small firms – Zulu 

By: Terence Creamer     28th February 2017 Changes to South Africa’s preferential procurement regulations, which take effect on April 1, will open a R150-billion opportunity for small businesses and cooperatives, Small Business Development Minister Lindiwe Zulu has acknowledged. The Minister revealed the figure during the Economic... 

World debt to increase to $44tr – S&P

By: News24Wire      27th February 2017 Absolute debt levels of countries continue to increase and total outstanding global sovereign commercial debt stock will rise to reach an all-time high of $44-trillion by the end of this year, according to rating agency Standard & Poor's (S&P). In a report entitled Sovereign Debt 2017, S&P... 

Prevent corruption on government projects through the use of Quantity Surveyors 

     27th February 2017 Government will spend over R50 billion to fund national and provincial economic infrastructure requirements, according to the National Budget 2017 announced on Wednesday by Finance Minister Pravin Gordhan. Noticably, however, according to the Auditor-General report on local government audit... 

Deputy finance minister named in police probe – newspaper

By: Reuters     27th February 2017 Deputy Finance Minister Mcebisi Jonas is being investigated by the Hawks elite police unit as part of a probe into allegations of corruption at state-owned South African Airways (SAA), the City Press newspaper reported on Sunday. As part of the probe into SAA, the unit is investigating... 

Monyane asks Zuma to intervene in finance minister dispute

By: African News Agency      24th February 2017 South African Revenue Service (Sars) Commissioner Tom Moyane on Friday disputed Finance Minister Pravin Gordhan’s assertion that there was a tax collection shortfall of over R30-billion which had contributed to the budget deficit. Instead, Monyane accused his boss, Gordhan, of interfering in the... 

Tax administration developments ‘deeply disturbing’, Davis warns 

By: Terence Creamer     24th February 2017 Judge Dennis Davis, who heads Davis Tax Committee, set up in 2013 to assess South Africa’s tax policy framework, has added his voice to concerns about the state of tax administration in South Africa, particularly in light of the R30-billion under-recovery in 2016/17 relative to the estimate... 

Busa welcomes Budget, commits to playing a role in country’s economic transformation

By: Megan van Wyngaardt     23rd February 2017 Business Unity South Africa (Busa) on Thursday welcomed the prioritisation of education and social spending, as well as the reforms in public procurement outlined by Finance Minister Pravin Gordhan in his Budget speech on Wednesday. Busa believes these measures will generate improved efficiencies... 

Solidarity to launch campaign to support the local steel industry

By: Megan van Wyngaardt     23rd February 2017 Trade union Solidarity has set its sights on the expansion and sustainability of South Africa’s domestic steel industry for the year ahead and will soon launch a Support Our Steel (SOS) campaign. The domestic steel industry had suffered significant setbacks in recent times, particularly after the... 

Sasa calls for greater public input in sugar tax deliberations

By: Anine Kilian     23rd February 2017 The South African Sugar Association (Sasa) believes there has been insufficient public involvement in discussions on the implementation of the proposed tax on sugar-sweetened beverages. Finance Minister Pravin Gordhan on Wednesday confirmed that the proposed tax, which will be levied at a rate of... 

Chamber notes Gordhan’s bemoaning of Section 54 stoppages 

By: Martin Creamer     22nd February 2017 The Chamber of Mines of South Africa has described Finance Minister Pravin Gordhan as having done an effective job of maintaining fiscal discipline with a budget deficit of 3.1% in these most trying of times. The chamber comments that the 2017/18 Budget demonstrates the truism that sustaining and... 

Continued support for renewables IPPs an economic boost – Sarec 

By: Megan van Wyngaardt     22nd February 2017 The South African Renewable Energy Council (Sarec) has welcomed the confirmation by Finance Minister Pravin Gordhan that the continuation of South Africa’s independent power producer (IPP) programme was imperative, given the need to boost investment in the short term. In a statement following... 

Nuclear deal – The calm before the storm? 

By: News24Wire      22nd February 2017 National Treasury’s 2017 Budget Review and Finance Minister Pravin Gordhan’s speech kept a wide berth from mentioning nuclear energy, following President Jacob Zuma’s cue in his 2017 State of the Nation Address.As anti-nuclear energy protesters chanted "no, no nuclear power" outside Parliament on... 

2017 Budget 

     22nd February 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the highlights of the 2017 Budget that was presented by Finance Minister Pravin Gordhan on Wednesday. 

Seifsa welcomes R95m steel development fund

By: Megan van Wyngaardt     22nd February 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) on Wednesday welcomed Finance Minister Pravin Gordhan’s R95-million allocation towards the establishment of a Steel Development Fund in the 2017 National Budget. The fund will be controlled by the Industrial Development... 

IPP programme identified as imperative for boosting investment

By: News24Wire      22nd February 2017 Eskom’s delay in signing power purchase agreements with renewable energy independent power producers (IPPs) whose bids were approved by the Department of Energy could result in manufacturers going out of business, National Treasury warned in its 2017 Budget Review. “Lack of clarity on Eskom’s... 

Budget makes room for more housing opportunities

By: News24Wire      22nd February 2017 Government is to spend R29.8-billion on housing, according to the National Budget. Finance Minister Pravin Gordhan delivered Budget 2017 in parliament on Wednesday. He said it was important to have intergovernmental cooperation between the different spheres to improve delivery of services such as... 

Agriculture outlook positive, says Gordhan

By: African News Agency      22nd February 2017 Agriculture output is expected to increase as South Africa recovers from a crippling drought, which National Treasury is hoping will boost job creation in the sector. According to the 2017 budget review tabled by Finance Minister Pravin Gordhan on Wednesday, two successive seasons of drought had... 

Higher education secures a further R5bn in funding

By: Natasha Odendaal     22nd February 2017 As the National Treasury allocates a further R5-billion to support financially-strapped students, new ways are being examined to develop a clear roadmap to mitigate the magnitude of the student funding challenge faced by young South Africans. Finance Minister Pravin Gordhan on Wednesday said... 

Government to proceed with the introduction of a sugar tax 

By: Natasha Odendaal     22nd February 2017 South African consumers of sugar-sweetened drinks are set to feel the impact of the proposed sugar tax later this year as the relevant legislation is finalised for Parliamentary approval. The National Treasury on Wednesday confirmed a proposed tax rate of 2.1c/g of sugar content in excess of 4... 

Treasury agrees, in principle, to substantial capital injection for SAA

By: Natasha Odendaal     22nd February 2017 The National Treasury on Wednesday announced it had agreed, in principle, to a substantial capital injection into troubled South African Airways (SAA); however, it could not confirm the amount or timeline for the capital injection. Treasury confirmed in the National Budget that, during 2017/18,... 

Treasury says investor confidence in Sanral improves

By: Natasha Odendaal     22nd February 2017 Despite ongoing uncertainty surrounding fee collection for the much-contested e-tolling of certain Gauteng freeways by the South African National Roads Agency Limited (Sanral), the National Treasury believes investor confidence in the agency has returned following the conclusion of two successful... 

Gordhan weaves growth into radical economic transformation vision 

By: Terence Creamer     22nd February 2017 A growing economy makes more rapid transformation possible, Finance Minister Pravin Gordhan argued in a 2017 Budget address set against the backdrop of sluggish economic performance, ongoing rumours about his dismissal and President Jacob Zuma’s call for “radical socioeconomic transformation”.... 

New top tax bracket emerges amid revenue underperformance 

By: Terence Creamer     22nd February 2017 Finance Minister Pravin Gordhan announced a new top personal income bracket of 45% for taxable incomes above R1.5-million in his 2017 Budget address as part of tax proposals designed to raise the additional R28-billion required to sustain the fiscal consolidation framework promised in previous... 

Industry Desperate for Certainty on Carbon Tax

     22nd February 2017 Leading energy consultancy Cova Advisory has warned that there is a desperate need for certainty over South Africa’s planned Carbon Tax.   The warning came in the run-up to this week’s Budget, when Finance Minister Pravin Gordhan is widely expected to give an update on plans for the new tax.... 

Industry Desperate for Certainty on Carbon Tax

By: Creamer Media Reporter      22nd February 2017 Leading energy consultancy Cova Advisory has warned that there is a desperate need for certainty over South Africa’s planned Carbon Tax.   The warning came in the run-up to this week’s Budget, when Finance Minister Pravin Gordhan is widely expected to give an update on plans for the new tax. “On... 

Sacci outlines Budget expectations

By: Creamer Media Reporter      21st February 2017 With Finance Minister Pravin Gordhan preparing to deliver his 2017 National Budget speech on Wednesday, the South African Chamber of Commerce and Industry (Sacci) weighed in on its expectations at a time when South Africa is experiencing subdued economic growth. Amid the Reserve Bank having... 

Fiscal consolidation, tax increases, SoE cost containment critical for pro-poor Budget - Busa

By: Natasha Odendaal     20th February 2017 Fiscal consolidation, considered and careful tax increases and parastatal cost containment will be critical elements for a pro-poor, pro-inclusive-growth Budget for South Africa for the year ahead. While there is a limit to what can be achieved through an effective Budget, Business Unity South... 

Certainty on Carbon Tax needed from this year’s Budget – Cova

By: Creamer Media Reporter      20th February 2017 With expectations of the long-awaited Carbon Tax being implemented in 2018, much more clarity and certainty will be needed from the 2017 Budget, which will be delivered by Finance Minister Pravin Gordhan on Wednesday. Currently, much uncertainty exists, with industry questioning policy certainty,... 

Efforts to salvage wind-tower plant shut in wake of Eskom’s refusal to sign new IPP contracts

By: Terence Creamer     17th February 2017 The Industrial Development Corporation (IDC) is hoping to salvage the domestic manufacturing capability established to produce wind-tower sections in the Eastern Cape that was set up in response to government’s demand for higher levels of local content in the renewable-energy sector. However, it... 

NATURAL PREOCCUPATION

     17th February 2017 French Minister of Finance and Economy Michel Sapin says it is natural for South Africa to be preoccupied with the issue of nuclear affordability; an issue that he confirmed was raised during his February 3 meeting with South Africa’s Finance Minister Pravin Gordhan. He used the meeting to offer... 

KPMG hopeful of bold steps in Budget 2017

By: Natasha Odendaal     15th February 2017 As the 2017 Budget draws near, there is growing anticipation that Finance Minister Pravin Gordhan, who is possibly facing his toughest Budget yet, will take some bold steps to direct the country’s economy along a  sustainable path. Speaking at a pre-Budget roundtable on Tuesday, professional... 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

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 Close