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India’s crude oil imports from Iran, Venezuela come under US pressure

By: Ajoy K Das     Updated 3 hours ago India is negotiating with the US for exemptions from “extended sanctions” to maintain its current level of crude oil imports from Iran, but the country is also under pressure from the US administration to halt all crude purchase from Venezuela. According to officials here familiar with ongoing... 

Zuma says nuclear could've solved load-shedding

By: News24Wire      Updated 3 hours ago Former president Jacob Zuma, whose administration has been blamed for the current power outages, has said the power crisis could have been averted if the country had built nuclear reactors.  In an interview with Business Day on Friday, Zuma said the costly nuclear build programme he supported... 

Boeing makes safety change, Indonesian airline cancels order

By: Reuters     Updated 7 hours ago Indonesian airline Garuda said on Friday it would cancel a $6-billion order for Boeing 737 MAX jets, citing concerns over passenger confidence, as Boeing tried to quell safety worries by making a previously optional cockpit warning light compulsory. National carrier Garuda is the first airline to... 

Company positive in flat construction market

By: Mamaili Mamaila     22nd March 2019 Despite there being no capital expenditure on projects in the construction sector, construction equipment supplier SANY GM Barry Owen says the company sees good opportunity to grow the SANY brand in a rather stagnant market. 

Demand prompts company expansion

By: Mc'Kyla Nortje     22nd March 2019 Owing to the high demand for its products in the US and Canada, local pumps manufacturer Hazelton Pumps will expand its pumps manufacturing facilities by extending work space in Sunderland Ridge, Centurion, says Hazelton Pumps marketing director Niel Wehmeyer. “We are erecting a 12.5 t crane,... 

Fluor JV completes EPC work at Sasol’s US petrochem complex

By: Marleny Arnoldi     20th March 2019 NYSE-listed engineering construction multinational Fluor Corporation, in a joint venture (JV) with TechnipFMC, has completed its engineering, procurement and construction (EPC) management services scope of work at Sasol’s petrochemicals complex, in Westlake, Louisiana, in the US. The JV... 

Kinross acquires 9.7% of Wolfden Resources

By: Marleny Arnoldi     20th March 2019 TSX-V-listed Wolfden Resources’ share price shot up 5% to C$0.18 apiece, following its announcement that Kinross Gold would take a 9.7% stake in the junior miner. The subscription agreement entails a nonbrokered private placement of about 12.5-million common shares of Wolfden at a price of... 

Climate challenge harder than it seems, JP Morgan executive warns

By: Bloomberg     20th March 2019 The world isn’t cutting carbon emissions anywhere near quickly enough, a senior executive at JP Morgan Asset Management told clients this week – and changing that will require far harder choices than most people realise. In his annual 'Energy Outlook' report, Michael Cembalest, chairperson of... 

US sanctions Venezuela gold mining company for backing Maduro

By: Reuters     20th March 2019 The United States imposed sanctions on Tuesday against Venezuela's State-run gold mining company Minerven and its president, Adrian Perdomo, accusing them of illicit operations and propping up the government of President Nicolas Maduro. The announcement comes days after Uganda said it was... 

Financial markets driven by politics, rather than economic fundamentals – Peregrine

By: Marleny Arnoldi     19th March 2019 The world is in an era of populism and nationalism, marked by the rapid rise of politicians echoing the message of a “selfish” State, effectively making the geopolitical landscape a treacherous one, says Peregrine Treasury Solutions. Corporate treasury manager Bianca Botes noted in a release... 

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