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Latest News

Nepad drives Africa's future - Mbeki

14th May 2002 President Thabo Mbeki has told the Norwegian nation that a massive struggle against poverty, underdevelopment and socio-economic marginalisation is hotting up in Africa to turn around the continent's prospects. 

Bush signs controversial Farm Bill

14th May 2002 US President George W Bush signed a 10-year, $190-billion farm bill Monday that expands subsidies to growers, turning aside criticism from fellow Republicans who called the measure a budget-busting step backward in agriculture planning. 

State financier outlines support criteria

14th May 2002 The State-owned Industrial Development Corporation (IDC), which provides finance for the establishment and expansion of economically viable manufacturing industries, has restated its financing criteria. 

Export boom leads to ports crisis

14th May 2002 A dramatic increase of nearly 24% in the number of containers passing through Cape Town harbour has created a crisis in the port with costly delays of up to 60 hours being experienced. 

Electronics group reports 28% rise in earnings

14th May 2002 The slowdown of the global telecoms and information technology (IT) markets appeared to have little effect on the Altron group which has produced a solid set of results amid a substantial transformation process. 

Japanese auto giant makes SA press investment

14th May 2002 As part of its programme of integration into the global Toyota manufacturing chain Toyota South Africa is rapidly expanding its production capabilities with new world class facilities. 

King II: the buck stops with business leaders

By: Joanne Delaurentis     13th May 2002 Despite having what is hailed to be the most advanced and comprehensive code on corporate governance in the world, South Africa still needs to develop a culture of good governance. 

US farm subsidies will rob Africans of jobs

13th May 2002 The US Senate last week gave final approval to a controversial Farm Bill that will boost federal government support for agriculture by at least $82-billion over the next 10 years. 

Big new fishing quota, new patrol vessels

13th May 2002 South Africa has announced record high quotas for local companies to catch pilchards and anchovies, and at the same time ordered four new coastal patrol vessels to combat poaching. 

Final prep meeting in Indonesia for Joburg Summit

13th May 2002 The fourth preparatory committee meeting , for the World Summit on Sustainable Development (WSSD) in Indonesia, from 27 May to 7 June, will be a pivotal point in determining government's commitment to sustainable. development, the United Nations said in a statement. 

Public Works spends rural-infrastructure budget

13th May 2002 The Public Works department has successfully spent its entire poverty-alleviation and rural-infrastructure development budget in the last financial year. 

Engineering council moves to allay public fears

13th May 2002 The Engineering Council of South Africa (Ecsa) – which represents the South African Association of Consulting Engineers (Saace), the South African Institution of Civil Engineering (Saice), the Institution of Municipal Engineers of Southern Africa (Imesa), and the Institute of Timber... 

Global attack on Sasolburg waste incinerator

13th May 2002 The Global Anti-incinerator Alliance – representing 109 environmental and civil society groups from 45 countries – has written a letter of appeal to President Thabo Mbeki against the erection of a proposed rotary kiln incinerator in Sasolburg, Free State for hazardous waste. 

SA escapes US steel pipe ban

13th May 2002 The US International Trade Commission on has voted, 4-1, against imposing countervailing or anti-dumping duties on imports of steel pipe and other tubular goods used in oil production. 

Egypt mobile firm in Tunisia deal

13th May 2002 Cairo-based regional mobile phone operator Orascom Telecom (OT) has reported that it has signed its delayed Tunisian GSM mobile licence deal and deposited the first instalment of the licence fees. 

SA lags in laser investments

By: Keith Campbell     10th May 2002 There is considerable scope for investing in laser machines in South Africa. 

SA amends enviro-study rules

10th May 2002 The amendments to the current environmental impact assessment (EIA) regulations will be published on today in the Government Gazette. 

Big restructuring for energy-supply firm

10th May 2002 In a bid to streamline and focus on core business processes, Babcock Borsig Power Steinmuller Africa (BBP-SA) has undergone a restructuring programme in line with global trends, competitive positioning and black empowerment goals. 

Nigerian State oil firm to be commercialised

10th May 2002 Nigeria said that State-run Nigerian National Petroleum Corporation (NNPC) will now operate as a commercial entity and assume responsibilty for cash call payments to the country’s oil joint venture partners. 

Zambia's economic targets unrealistic – analysts

10th May 2002 Zambia’s inflation and growth targets for the next three years are grandiose and unlikely to be met because of uncertainty in the key mining sector and food shortages, analysts said. 

Germany finances electrification programme

10th May 2002 South Africa has entered into a R100-million financing agreement with Germany, to fund an electrification programme in two provinces. 

New head for telecoms firm

10th May 2002 South African mobile phone operator M-Cell said on Thursday its chairman, Phuthuma Nhleko, would take over from Paul Edwards as group chief executive on July 1, in a move which surprised industry analysts. 

Telecoms boost electronic, electrical group's sales

9th May 2002 Electronics and electrical group, Reunert’s headline earnings for the six months to March, were up 24% on the comparative period, while headline earnings per share grew 30%. 

New telecoms service obligations to be introduced

9th May 2002 South Africa will later this year redraft the potentially expensive obligations applying to telecommunications operators under a Bill passed last year, Communications Minister Ivy Matsepe-Casaburri said. 

Tenders out for infrastructure work on Angola oilfield

9th May 2002 Oil firm TotalfinaElf has issued three key tenders for infrastructure work on its huge Dalia oilfield in Angola, but the target date for starting production there has slipped again, a spokesperson said. 

Nigerian gov to assess impact of oil partner mergers

9th May 2002 The Nigerian Federal Government has ordered a fresh audit of all the assets held by its four joint venture oil partners, Mobil, Chevron, Texaco and Elf. 

Cement producer in R340m enviro drive

9th May 2002 Cement manufacturer, Alpha, is to invest R340-million over a period of three years in efficiency and environmentally focused capital projects. 

Erwin to meet OECD Ministerial Council

9th May 2002 At the invitation of the Belgian Prime Minister, Mr Verhofstadt, who is currently chairing the Ministerial Council of the Organisation for Economic Co-operation and Development (OECD), and Mr Johnston, the OECD’s Secretary-General, Trade and Industry Minister Alec Erwin will be attending... 

SA tech group reports 85% rise in operating profit

9th May 2002 Substantial improvements have been achieved in virtually all the operational areas at Bytes Technology Group (BTG) resulting in a good set of year end results, said executive chairperson David Redshaw. 

R1,4bn Cape dam gets approval

9th May 2002 Cabinet has approved the construction of the long-awaited R1,4-billion Skuifraam dam on the Berg River, near Franschhoek in the Western Cape. 

R42m for Tembisa magistrates court

8th May 2002 The community of Tembisa on the East Rand is to receive a Magistrates Court, to the tune of R42-million, as part of the department of Justice and Constitutional Development’s commitment to improving service delivery. 

Plans move ahead at Coega

8th May 2002 Three months after being given the provisional operator’s licence, the Coega Development Corporation (CDC) has stepped up plans for the development of the 12 000 hectare Coega Industrial Development Zone outside Port Elizabeth. 

US farm Bill flouts consensus on helping third world

8th May 2002 Of all the problems that plague the world's poor in the age of globalisation, few are so widely condemned as the subsidies that rich countries provide their farmers. 

Algeria offers as project to foreign investors

8th May 2002 Algerian State-owned gas and oil firm Sonatrach will offer the 255-billion cubic metres Gassi Touil liquefied natural gas and condensate project for foreign investors to bid for it, company officials said. 

SA paper giant forecasts improving price trend

8th May 2002 Pulp and paper group Sappi’s headline earnings per share (EPS) for the three months to end-March rose 86% on the previous quarter and said it expected quarterly results to improve further on firming paper and pulp prices. 

Power electronics firm reports 11% rise in turnover

8th May 2002 One of the largest power electronics groups, Power Technologies, a member of the Altron Group and in Southern Africa, has reported a pleasing set of results with an increase in turnover from operations of 11,5% to R3,7-billion (R3,4-billion) for the year ended February 28. 

Plan to convert hospital, prisons to electricity

7th May 2002 South Africa’s energy parastatal, through electrical advisory service Elektroserve, is intent on converting 60% of coal-fired steam-generating systems used in correctional service facilities and government hospitals, to electrical point-of-use systems in three years. 

Positive outlook for oil offshore Egypt

7th May 2002 Independent oil and gas producer Apache Corporation said it had completed its first deepwater well offshore Egypt and will test for potentially productive natural gas deposits in the coming weeks. 

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