https://www.engineeringnews.co.za
R/€ = 17.00 Change: -0.06
R/$ = 16.27 Change: -0.03
Au 1816.87 $/oz Change: 0.28
Pt 920.00 $/oz Change: -5.50
 

Economy News

Nxesi appeals to skilled professionals to join Public Works 

By: Natasha Odendaal     4th July 2012 Public Works Minister Thulas Nxesi on Wednesday appealed to the private construction sector technical professionals to partner with government to help the Department of Public Works (DPW) improve. Speaking at the Construction Industry Development Board (CIDB) national stakeholder forum, held in... 

Artisans at the heart of SA’s economic growth, training a priority 

By: Megan van Wyngaardt     4th July 2012 South Africa would have to step up artisan training to meet the demand that government’s big infrastructure investment push would create, Higher Education and Training Minister Blade Nzimande said on Wednesday. “These projects will need qualified artisans, and unless we accelerate artisan... 

Proposed ANC mines policy ‘wrong approach’ to meet 'laudable goals' – Anglo 

By: Terence Creamer     3rd July 2012 Mining group Anglo American says the State Intervention in the Minerals Sector (Sims) report, which was commissioned by the African National Congress (ANC) in 2010 following strong calls for mine nationalisation, relies “fundamentally on the wrong approach to achieve some laudable goals” and... 

R827bn tax collection target set  

By: Natasha Odendaal     2nd July 2012 Finance Minister Pravin Gordhan on Monday stated that South Africa’s tax base, which comprised citizens and business engaging in taxable activities, such as excise, personal income tax, value-added tax (Vat) and corporate tax, was not wide enough. Speaking at the official opening of the 2012 tax... 

Failure to agree on health, education as essential services 

By: Sapa     29th June 2012 The ANC cannot agree on whether education and health should be classified as essential services, officials said at the party's policy conference in Midrand on Friday. "The commission resolved that... the process should continue to find a consensus around this matter of declaring education an... 

Job seekers grant proposed – Mashatile

By: Sapa     29th June 2012 The idea of a job seekers grant was proposed during commission discussions around the ANC's social transformation policy document, Gauteng chairman Paul Mashatile said on Thursday. "In the commission there was no support for the youth subsidy as initially proposed. We have proposed the job... 

Gauteng sees partnerships as key to industrial revival vision

By: Schalk Burger     29th June 2012 Gauteng has partnered with the private sector, academia and with industries from industrialised countries to boost manufacturing as part of the province’s economy, said Gauteng Economic Development member of the executive committee Qedani Mahlangu in her speech to the provincial legislature in June. 

School building programme receiving top-level attention, but implementation details remain vague

By: Schalk Burger     29th June 2012 Recent high-profile media reports have exposed some the serious backlogs in the provision of basic educational infrastructure. 

Economist warns that global corporate insolvencies could rise

29th June 2012 The ongoing deterioration in the economic outlook of Europe has impelled European credit insurance company Euler Hermes to revise its 2012 outlook for global corporate insolvencies from the earlier expectation of a 5% fall to a 3% rise. 

Court dismisses appeal against Omnia, Yara

By: Idéle Esterhuizen     28th June 2012 The Constitutional Court this week dismissed a direct appeal by the Competition Commission against a decision by the Competition Appeal Court in a ten-year cartel complaint of collusion against fertiliser producers and Omnia Fertiliser and Yara South Africa. Costs were awarded to Omnia and... 

Local procurement accord to reverse deindustrialisation

By: Megan van Wyngaardt     28th June 2012 The local procurement accord, which business, government and the private sector signed last year, would go a long way in building the capacity to reindustrialise the economy, speakers at the South African Supplier Diversity Council (SASDC) conference said on Thursday. Policy adviser to the... 

ANC questions second transition media reports

By: Sapa     28th June 2012 It will not reflect badly on President Jacob Zuma if the so-called second transition proposal is rejected, the ANC said on Thursday. "Why would it, when one terminology is questioned, reflect on the president?" asked African National Congress spokesman Jackson Mthembu. 

Public sector pay talks on hold 

By: Sapa     27th June 2012 Parties involved in public sector pay talks were still "consulting", the public service ministry said on Wednesday night. "The parties have gone for consultation....Once we have something to report, we will report," ministerial spokesman Ndivhuwo Mabaya said. "Cosatu has asked for two weeks to... 

Supplier diversity to boost economic growth, job creation 

By: Megan van Wyngaardt     27th June 2012 Promoting sustainable supplier diversity would spur job creation and boost economic growth in South Africa, Klein Inc Management Consultants owner Venete Klein said on Wednesday. Speaking at the South African Supplier Diversity Council’s (SASDC’s) first yearly conference, held in Johannesburg,... 

Despite economic weakness, current commodity slump ‘disproportionate’

By: Terence Creamer     27th June 2012 Recent sharp falls in commodity prices are “disproportionately” large when compared with prevailing weaknesses in the global economy and a number of prices are, thus, likely to recover during the second half of 2012, Absa Capital economist Jeff Gable argues. Having tracked the growth performance... 

IMF loan gives SA global influence – Minister 

By: Sapa     25th June 2012 South Africa's $2-billion (about R16.58-billion) loan to the IMF will help the country gain influence, International Relations Minister Maite Nkoane-Mashabane said on Monday. "This pledge by BRICS countries is in line with the provision to transform institutions of global governance," she told... 

ANC mining policy should focus on 'capturing rents' not nationalisation  

By: Terence Creamer     25th June 2012 Strengthening the fiscal linkages to South Africa's mining industry through a new resource rents tax (RRT), which would effectively target super profits earned by domestic miners, was preferable to ‘blanket nationalisation’, which could not be pursued in the absence of compensation, a co-author... 

SA should do more to prepare for skills loss as professors approach retirement 

By: Natasha Odendaal     22nd June 2012 South Africa has the potential and talent to reach the highest levels of scientific achievement, but half of the country’s professors and associate professors were retiring within the next ten years, and not enough has been done to adequately prepare for their replacement, said Science and... 

Eskom moves to secure five-year tariff visibility as it initiates MYPD3 process 

By: Terence Creamer     22nd June 2012 Eskom confirmed on Friday that its third multiyear price determination (MYPD3) application to the National Energy Regulator of South Africa (Nersa) would be for a five-year period, rather than the three-year horizon that prevailed during the first two MYPD periods. In other words, the... 

SA needs to accelerate expert welder training programmes

By: Schalk Burger     22nd June 2012 Expert training programmes to develop internationally accredited welding personnel are needed for South Africa’s manufacturing industry to compete on the international stage and to meet South Africa’s infrastructure development aspirations, says University of Pretoria welding expert and... 

Espousing the virtues of SA’s vocational training option

By: Nomvelo Buthelezi     22nd June 2012 The value of South Africa's new National Certificate (Vocational), or NC (V), as an alternative to matric in the context of the country's chronic technical skills shortages came under the spotlight at a recent seminar hosted by False Bay College. 

Homegrown initiative using chess to bolster the analytical prowess of South African youth 

By: Natalie Greve     22nd June 2012 The game of chess is not well known for its ability to disregard socioeconomic barriers and appeal to the most disadvantaged in society, but a recently launched South African-borne initiative is attempting to use the game do just that – and it appears to be succeeding. 

Opportunities, obstacles for small firms keen on entering Internet economy

By: Schalk Burger     22nd June 2012 There is significant potential for South African small, medium-size and microenterprises (SMEs) to harness the Internet to improve productivity and expand their markets. Coordinated efforts are needed, however, to drive Internet access across the country, information and communication technology... 

SA's IMF money not a gift – Presidency 

By: Sapa     20th June 2012 South Africa's $2-billion (about R16.4-billion) commitment to an International Monetary Fund (IMF) "firewall" was not a gift but a sound financial investment, the Presidency said on Wednesday. "If the IMF uses the funds, the money is lent to the IMF and not a gift... [and] for all of this time... 

Key SA bond yield hits record low, rand gains

By: Reuters     20th June 2012 Yields on South African government bonds dropped to multi-month lows on Tuesday, extending a three-week rally as investors returned to riskier emerging market assets and helped push the rand though a firm resistance level against the dollar. The three-year bond yield dropped to a record 6.05... 

Formal employment up but factories shed jobs

By: Reuters     19th June 2012 Employment in South Africa's formal sector edged up 0.1% in the first quarter of 2012 compared with the previous quarter, with job increases in the mining sector and a fall in manufacturing, Statistics South Africa said on Tuesday. Africa's biggest economy is struggling to create jobs and reduce... 

$500bn infrastructrue plan to be presented to SADC leaders in August

By: Terence Creamer     19th June 2012 A Southern African Development Community (SADC) Regional Infrastructure Master Plan (RIMP), which could involve cross-border projects with a combined investment value of up to $500-billion, has been finalised and will be presented to the subregion’s heads of State for offical sanction at an... 

National artisan conference planned for July 

By: Megan van Wyngaardt     19th June 2012 Higher Education and Training Minister Dr Blade Nzimande will host a national artisan development conference on July 4 and July 5. His department said in an advertisement this week that the conference would seek to establish a formal, national platform under the Minister of Higher Education and... 

DPE to set up database of potential directors for SoEs 

By: Natasha Odendaal     19th June 2012 Public Enterprises Minister Malusi Gigaba has called for the nomination of suitable candidates to be added to a Department of Public Enterprises’ (DPE’s) database of potential State-owned enterprises’ board directors. As part of the DPE’s strategy for the companies it managed, the department... 

Engineers confident of their future but skills a concern

By: Natasha Odendaal     18th June 2012 Despite a number of initiatives aimed at dealing with the critical skills shortage in South Africa, a survey found that engineering professionals did not believe this was sufficient and remained concerned about the skills shortages in their relevant professions. The quarterly survey, undertaken... 

IMF board agrees terms for using $430bn

By: Reuters     18th June 2012 The International Monetary Fund agreed on Friday that it would only draw on the $430-billion in extra resources committed by member countries to fight the global economic crisis once it has tapped existing funds. Twelve countries plus the euro area pledged over $430-billion in April to almost... 

‘Visegrad Group’ seeks to build trade relations with SA

By: Megan van Wyngaardt     15th June 2012 The Visegrad Group, which is made up of European Union countries including Poland, Slovakia, the Czech Republic and Hungary, is looking to increase its trade and investment partnership with South Africa. With Europe being South Africa’s biggest trade and investment partner, the group aims to... 

Combining electrician training with workplace experience seen as critical

By: Schalk Burger     15th June 2012 Learnership programmes, where artisans in training work under a qualified and registered electrician, must effectively supplement formal artisan training by providing practical experience underpinned by the official quality and safety standards, says accredited electrician training centre P & T... 

Facts of business transfer determine labour law applicability

By: Schalk Burger     15th June 2012 The facts around the transfer of a business, specifically whether the business and services continue after the transfer, will determine whether Section 197 of the Labour Relations Act, No 66 of 1995 (LRA) is applicable, in which case the employees must continue to be employed by the new employer... 

No intention to intervene on rand – Gordhan

By: Reuters     14th June 2012 South Africa's government has no intention of intervening in the foreign exchange market to influence the level of the rand, Finance Minister Pravin Gordhan said in a written reponse to questions in Parliament dated last month but released on Thursday. Both the government and the Reserve Bank... 

Power tariff application to be submitted to Nersa in July 

By: Terence Creamer     14th June 2012 State-owned power utility Eskom will submit its third multiyear price determination period (MYPD3) application to the National Energy Regulator of South Africa (Nersa) during July, CE Brian Dames has confirmed. He says Eskom is taking its cue from President Jacob Zuma’s State of the National... 

NWU opens new engineering faculty

By: Megan van Wyngaardt     13th June 2012 South Africa needs at least 25 000 engineering graduates each year, for the country to be truly economically competitive, the North-West University said this week, as it opened a new 18 000 m² engineering faculty, at its Potchefstroom campus. Acting dean Professor Jan de Kock said the faculty... 

Latest News

more

Latest Videos

more

Projects

more

 
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
Free daily email newsletter Register Now