Economy | Budget | Labour

https://www.engineeringnews.co.za

Advertise on this page? Click Here to Learn More

Economy News

Competition Tribunal dismisses complaint against DME

By: Creamer Media Reporter 8th February 2010 The Competition Tribunal on Monday dismissed the complaint brought forward by mining industry electronics equipment supplier AEC Electronics against the Department of Minerals and Energy (DME). "We neither have the competence to instruct a state functionary exercising a public power to act in a... →

Nationalisation debate less about policy than internal ANC tussles

By: Terence Creamer 8th February 2010 Mine nationalisation in South Africa was not an imminent policy threat, nor even a fully fledged policy consideration. But the debate could be important in helping to shape the future leadership dynamics within the governing African National Congress (ANC), Control Risks senior Southern Africa... →

SA economy lacking ‘vigorous’ recovery anticipated for peers

By: Chanel de Bruyn 8th February 2010 The South African Chamber of Commerce and Industry (Sacci) on Monday expressed concern that the country’s economy had not yet joined in the “vigorous” economic recovery anticipated for other key emerging market economies. With the release of its January business confidence index (BCI), the... →

Correct tools could enable companies  to lower their 2010 credit risks

By: Jacqueline Holman 5th February 2010 There is a wave of expectation and excitement building up to the 2010 Soccer World Cup that may increase positive economic sentiment and result in consumers spending and using credit again, says consumer and business credit monitoring firm Experian senior executive for sales and business... →

SA power consumption up 7,5% in Dec

By: Chanel de Bruyn 4th February 2010 South Africa’s power consumption jumped 7,5% year-on-year to 18 850 GWh in December, its biggest increase since February 2004 when consumption rose 6,9% year-on-year, official data by Statistics South Africa (Stats SA) showed on Thursday. Electricity usage for the three months ended December 31,... →

Engineers confirm nominee for Manuel's new planning body

By: Terence Creamer 4th February 2010 Consulting Engineers South Africa (Cesa) would nominate its incumbent president, Zulch Lötter, for a position on the National Planning Commission (NPC), which the South African government planned to establish by March. Cesa CEO Graham Pirie indicated on Thursday that it was in the process of... →

Power-price shock would hamper already frail factory recovery

By: Chanel de Bruyn 2nd February 2010 South Africa’s already struggling manufacturing sector did not need any other economic shocks, such as the large electricity tariff increases proposed by Eskom, Nedcor chief economist Dennis Dykes asserted on Tuesday. The country’s economy remained under pressure and conditions in many sectors... →

Comair denies price collusion allegations

By: Creamer Media Reporter 29th January 2010 JSE-listed aviation company Comair, which operates the kulula.com and British Airways airlines in the Southern African region, has denied that there has been any collusion between local airlines around pricing for the 2010 FIFA World Cup. In a statement issued on Friday, the company “strongly... →

Limpopo cooperative to produce sanitation systems

By: Jacqueline Holman 29th January 2010 Precast concrete infrastructural products and solutions specialist Rocla, which is part of the Murray & Roberts group, has issued a license to a community-owned and operated factory in Vhembe, in the Limpopo province, for the manufacture of some of its products. →

South Africa set to launch big corridor-based logistics efficiency study

By: Terence Creamer 29th January 2010 The South African government is initiating a R17,2-million study into the state of operational efficiency along the country’s key transport corridors, which it hopes will provide the basis for material performance improvements to help guide infrastructure planning and future investment... →

Gordhan unlikely to announce major tax changes – E&Y

By: Chanel de Bruyn 28th January 2010 The National Treasury was unlikely to make major changes to the individual, corporate or indirect tax rates, but it was also unlikely to announce any new tax incentives when Finance Minister Pravin Gordhan tables the national budget next month, tax advisory firm Ernst & Young (E&Y) said on... →

Anglo American unveils SA job creation plan

By: Creamer Media Reporter 28th January 2010 Diversified miner Anglo American plans to establish 12 new enterprise development hubs in high unemployment areas in South Africa in an attempt to create 25 000 new jobs and up to 1 500 new businesses over the next seven years. The mining group announced on Thursday that it has committed itself... →

SA's biggest constraint is lack of skilled workforce – survey

By: Creamer Media Reporter 28th January 2010 South African business owners see a lack of skilled workforce as the biggest constraint impeding business growth, a survey found. Grant Thornton’s 2010 International Business Report (IBR) study, which related key constraints on company’s abilities to expand the business, found that 34% of... →

SA producer prices up for first time in 8 months

By: Reuters 28th January 2010 South Africa's producer prices increased by 0,7% year-on-year in November, compared with a 1,2% decrease in November, official data showed on Thursday. Statistics South Africa said on a monthly basis producer inflation, representing domestic output, was at 0,7% compared with 0,8% in November. →

Zuma errs on the side of economic-policy stability at Davos

By: Terence Creamer 27th January 2010 President Jacob Zuma came out on the side of economic-policy stability at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, arguing that "judicious management" of the country's finances had enabled South Africa to respond to its first recession of the post-1994 "democratic era"... →

Emerging economies to grow by 6% in 2010, says IMF

By: Chanel de Bruyn 27th January 2010 Emerging and developing economies, which grew by 2,1% in 2009, would likely see growth of about 6% in 2010, as well as accelerated economic growth in 2011, the International Monetary Fund (IMF) has revealed in its latest World Economic Outlook (WEO) report. The report highlighted that stronger... →

Australia seeks to strengthen ties with South Africa

By: Esmarie Iannucci 26th January 2010 South African International Relations and Cooperation Minister Maite Nkoana-Mashabane and her Australian counterpart, Foreign Affairs Minister Stephen Smith, on Tuesday launched an Australian-South Africa Foreign Minister's dialogue to advance the countries' common interest and to regularly... →

Job creation promises faltering — Vavi

By: Sapa 25th January 2010 Government's promise to create 500 000 employment opportunities is faltering, Congress of South African Trade Unions (Cosatu) general secretary Zwelinzima Vavi said on Monday. "Much more needs to be done to make sure we achieve and preferably surpass this target," he said in a speech prepared... →

Business confidence likely  to trend upwards from  2009 doldrums

By: Chanel de Bruyn 22nd January 2010 Business confidence, which had shown considerable volatility in 2009, would likely reach a higher average this year, after reaching a seven-year low in 2009, the South African Chamber of Commerce and Industry (Sacci) said earlier this month.  Reporting on the results of its Business Confidence... →

SA's economic recovery vulnerable to ‘double-dip' threat

By: Terence Creamer 21st January 2010 The World Bank expects the South African economy, which slumped into its first recession in 17 years during 2009, leading to an estimated 1,8% contraction in gross domestic product (GDP), to grow by 2% during 2010 and 2,7% in 2011 - however, a ‘double-dip' recession would severely undermine the... →

SA failed to evade global FDI slump in 2009, report shows

By: Terence Creamer 19th January 2010 As with the global recession, South Africa failed to escape the effects of a sharp pullback in global foreign direct investment (FDI) flows during 2009, with a new report showing that FDI inflows to South Africa slumped by 24,6% to $6,8-billion last year, from $9-billion in 2008. The estimate,... →

Africa likely to see shift in politics after economic crisis – analyst

By: Esmarie Iannucci 19th January 2010 Although the most pressing signs of the global economic meltdown seems to be ebbing, the political impact of the downturn on Africa would only be seen at a later stage, said the Institute for Global Dialogue (IDG) on Tuesday. Speaking at an event hosted by research and strategy company Frontier... →

Sars enforcement of documentary requirements may increase

By: Eleanor Seggie 15th January 2010 The South African Revenue Service (Sars) has significantly felt the impact of the financial crisis and the budget deficit is expected to reach about R80-billion this year. This has resulted in Sars enhancing collection measures. Exporters are no exception and it may be expected that SARS’... →

Focus on entrepreneurs, incentives needed to boost venture capitalism in SA

By: Jacqueline Holman 15th January 2010 Government needs to develop a more favourable environment for start-up and early stage entrepreneurial companies to grow and provide a solution to unemployment by providing angel investors with tax incentives, say business accelerator Aurik CEO Pavlo Phitidis and director of strategy and business... →

Firms team up in maths, science and engineering drive

By: Jacqueline Holman 15th January 2010 Human capital investment company Infundo Consulting, engineering technology company Bentley Systems incorporated and the Royal Netherlands Embassy have partnered to enhance mathematics and science teaching skills in South Africa through an e-learning computer-aided design (Elcad) programme where... →

PetroSA awards bursaries to boost engineering, science skills

By: Chanel de Bruyn 14th January 2010 In an effort to increase the skills availability in the engineering, science and commerce fields of South Africa, national oil company (NOC) PetroSA has awarded bursaries to 30 matriculants and university students to study commerce and science at higher learning institutions. The bursaries were... →

Steady trade activity recovery expected in 2010

By: Creamer Media Reporter 14th January 2010 Despite the Trade Activity Index (TAI) having slipped back into negative territory in December amid a normal seasonal decline in trade activity, the South African Chamber of Commerce and Industry (Sacci) expected the steady recovery of the index at the end of 2009 to be sustained into 2010, given... →

Contraction in SA manufacturing output slowed in Nov

By: Chanel de Bruyn 12th January 2010 Local manufacturing output contracted by 4,7% year-on-year in November, the least negative growth rate recorded, to date, in 2009, Statistics South Africa (Stats SA) reported on Tuesday. Efficient Group economist Freddie Mitchell noted that this was “all in all a good figure” with a definite... →

Business confidence dropped to 7-yr low in ’09

By: Chanel de Bruyn 7th January 2010 Business confidence, which had shown considerable volatility in 2009, would likely reach a higher average this year, after reaching a seven-year low in 2009, the South African Chamber of Commerce and Industry (Sacci) said on Thursday. Reporting on the results of its Business Confidence Index... →

IMF’s Lipsky cautious despite improved economic prospects for 2010

By: Creamer Media Reporter 5th January 2010 While economic data, financial market performance and improved economic forecasts pointed to improved economic prospects for 2010, the International Monetary Fund (IMF) first deputy MD John Lipsky has warned that there was still reason to be cautious. In a note on the IMF’s website, he said that... →

New Act will require far-reaching changes  at companies

By: Jacqueline Holman 11th December 2009 Companies need to start considering the practical effects the new Companies Act, of 2008, will have on them when implemented next year. →

Eskom tariff hike will dent growth and job creation, Busa warns

By: Esmarie Iannucci 9th December 2009 Business Unity South Africa (Busa) warned on Wednesday that, should State-owned electricity producer Eskom’s push for a 35% tariff increase be approved by the regulator, it would have a detrimental effect on South Africa’s growth and employment outlook. Speaking to journalists at a function to... →

Court dismisses milk processors’ appeal in cartel case

8th December 2009 The Competition Appeal Court (CAC) has again dismissed an application by milk processors Milkwood Dairy and Woodlands Dairy to have the ongoing milk cartel case against a number of milk processors, including themselves, set aside. The CAC this week dismissed an application by Milkwood and... →

Vavi, Godsell urge workers to make use of training layoff scheme

By: Esmarie Iannucci 8th December 2009 The Congress of South African Trade Unions (Cosatu) said on Tuesday that it was disappointed in the number of employees and employers that have taken up government’s training layoff scheme initiative. President Jacob Zuma said last week that the R2,4-billion scheme had saved around 4 482 jobs.... →

Merseta signs skills development deal with E Cape university

By: Creamer Media Reporter 7th December 2009 The Nelson Mandela Metropolitan University (NMMU) and the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) have signed a multi-million rand agreement to boost skills training in the Eastern Cape. The agreement would entail the promotion of women... →

German-backed SWH training facility launched in Soweto

By: Christy van der Merwe 7th December 2009 A solar water heater (SWH) installation and maintenance training centre was launched on Monday, in Soweto at the Builders Training Centre, with the ambition of increasing local capacity for solar energy installation. The project is part of a German public-private partnership. It is partially... →

SA’s R&D spend as percentage of GDP slowed – Pandor

By: Chanel de Bruyn 7th December 2009 Science and Technology Minister Naledi Pandor on Monday expressed concern about a decline in the percentage of gross domestic product (GDP) spent by South Africa on research and development (R&D) in the 2007/8 financial year. She pointed out during a media briefing in Pretoria that investment on... →

About

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

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

Newsletters

Sign up for our FREE daily email newsletter

Receive daily sector news alerts

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