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Latest News

UK engineering group to sell two divisions

21st February 2002 The British engineering group that has axed thousands of jobs in a battle to restore its fortunes, Invensys, said it would chop $2- billion from its debt pile by selling two divisions. 

Manuel goes for infrastructure growth

By: Terence Creamer     21st February 2002 Finance Minister Trevor Manuel has, for the second year running, increased funding of physical construction. Speaking in parliament yesterday, Manuel said the Budget recognised the need to reinforce the growth momentum of the economy by invigorating several key policy initiatives. 

State announces new support for manufacturers, small business

By: Terence Creamer     21st February 2002 In a move to promote direct investment, Finance Minister Trevor Manuel yesterday announced a scheme, which enables manufacturers to accelerate depreciation for newly-acquired plant and equipment – but specified that awards would be conditioned on projects enhancing competitiveness and... 

Iscor announces R1,7bn rights offer

21st February 2002 Africa’s leading steel producer, Iscor, formally announced the details of a R1,7- billion rights offer planned for March and April this year. 

Six European firms in Nigeria power push

20th February 2002 A consortium of six European power and engineering companies have put together a package to build three power stations in Nigeria, a development that is expected to significantly bolster electricity supply in the country. 

Kenya wants Nile construction veto reviewed

20th February 2002 A senior Kenyan minister has called for a review of the 1929 British colonial treaty which gave Egypt the right to veto construction projects of countries which sought to use the headwaters of the Nile. 

Reshuffle in leading construction firm

20th February 2002 The merger of the two construction companies, Grinaker and LTA, has progressed well and, as a further refinement of the merger process, Frank Crowley, the MD of the merged group, Grinaker-LTA has announced some changes within the group. 

Joburg's plan for top-city status by 2030

20th February 2002 Johannesburg's residents will enjoy a quality of life similar to the populations of London and San Francisco in 2030, according to a city council report released today. 

Saldanha Steel's CE moves on

20th February 2002 Saldanha Steel today announced that its chief executive Martiens Mulder will relinquish his executive role at the West Coast steel mill, having put in place all the turnaround strategies required for the future successful operation of the plant. 

Engineers not to blame for off-ramp death

20th February 2002 No engineering failure was to blame for the collapse of scaffolding at the Stormvoel Road off-ramp in Pretoria yesterday, when a truck rammed into support structures where upgrading was taking place. 

SA’s gas masterplan unfolding

19th February 2002 Minerals and Energy Minister Phumzile Mlambo-Ngcuka unveiled a three-stage vision in the development of the South African gas industry during her briefing to Parliament last week. 

R950m earmarked for electrification

19th February 2002 Government will spend R950-million this year to electrify 300 000 households, 700 schools and 100 clinics, said minerals and energy minister Phumzile Mlambo-Ngcuka. 

Govt land sales on fast track

19th February 2002 Government is looking at fast-tracking the sale of redundant State property to achieve socioeconomic objectives. 

SA-US discuss free-trade deal

19th February 2002 During the first-ever visit by a United States Trade Representative (USTR) to South Africa, USTR Ambassador Robert Zoellick met with Trade and Industry Minister Alec Erwin yesterday, as part of the SA-US Trade and Investment Framework Agreement (Tifa). 

Techno giant ready to enter DR Congo

By: Martin Creamer     18th February 2002 The Democratic Republic of Congo (DRC) is the next country in which Siemens Southern Africa intends establishing a presence, CEO Dr Klaus D 

Fight looms over Bush's emissions policy

18th February 2002 The Bush administration's plan for industry to voluntarily cut one of the worst air pollutants faces a battle in the Democratic-led Senate, which has been eyeing its own proposal to force companies to meet tough new standards. 

SA carrier plans $1,5bn aircraft purchase

18th February 2002 South African Airways (SAA), Africa's largest air carrier, has stated that it plans to spend up to $1,5-billion on new aircraft to upgrade its ageing long-haul fleet. 

Micro-economic strategies bearing fruit - Erwin

18th February 2002 Micro-economic structural changes introduced to the South African economy by government since 1994 are bearing fruit, Trade and Industry Minister Alec Erwin said in Parliament late last week. 

Metal sector jobs conundrum

15th February 2002 Thousands of metalworkers are continuing to lose jobs in the engineering, steel, aluminium, motor, automotive, tyre and component-manufacturing industries. 

Aluminium: where low-cost output is key

15th February 2002 Big African aluminium expansion moves by BHP Billiton made good sense even as a poor world market forced US legend Kaiser Aluminium into bankruptcy, analysts said. 

State to buy back 20% SAA stake

15th February 2002 The South African government said that it had agreed to buy back the 20% stake in South African Airways (SAA) held by the failed Swissair Group for R382,5-million. 

Historic ban placed on SA engineer

15th February 2002 The South African engineering watchdog, the Engineering Council of South Africa (ECSA), approved, for the first time, a recommendation by a committee of inquiry to disqualify a professional engineer permanently from registration due to gross misconduct. 

North American aluminium producer files for bankruptcy

14th February 2002 Crippled by a heavy debt load and low aluminium prices Kaiser Aluminum Corporation has filed for bankruptcy, a move that will likely lead to further consolidation in the ailing aluminium industry. 

Six week salvage plan for telecoms privatisation

14th February 2002 Nigerian officials tried to save Africa’s largest-ever privatisation by giving their chosen bidder six more weeks to pay the $1,3-billion it had offered for State telecoms company Nitel. 

Cape's gas prospects improve on deal

14th February 2002 The South African Government’s Department of Minerals and Energy and Shell International Gas, represented by Shell South Africa, announced the signing of a letter of intent for developing a sustainable natural gas industry in the Cape Provinces of South Africa. 

ABB South Africa performs well as group takes a hit

14th February 2002 ABB South Africa, the local arm of the global power and automation group ABB, increased its revenues by 19% last year to R1,6-billion, although trading conditions were described as “difficult.” 

Black empowerment central to telecoms deal

14th February 2002 Black South Africans are looking to join forces to bid for the 19% stake set aside for so-called historically disadvantaged groups in a telecoms licence to rival fixed-line monopoly Telkom. 

$1,3bn Nigerian telecoms privatisation offer extended

13th February 2002 Africa’s largest privatisation, a $1,3-billion deal for control of Nigeria’s State telecommunications company Nitel, collapsed on Monday after the chosen bidder missed the final payment deadline, officials said. 

SA awards global group deep-sea oil prospecting licence

13th February 2002 Global Offshore Oil Exploration South Africa, a wholly-owned affiliate of Global Energy Holdings, has announced the formal approval of its prospecting sublease Agreement for block 3B/4B from the Ministry of Minerals and Energy and the South African Agency for Promotion of Petroleum Exploration... 

Auto sector boosts country's manufacturing output

13th February 2002 Manufacturing production for the year 2001 reflected an increase of 3,4% compared with the year 2000, while higher production was reported by 18 of the 27 manufacturing divisions. 

SA aluminium producer approves $449m expansion

13th February 2002 Diversified resources group BHP Billiton said it has approved the $449-million expansion of its Hillside aluminium smelter at Richards Bay in South Africa. 

Poor countries to benefit most from trade talks

12th February 2002 Three-quarters of the benefit of future reductions in industrial tariffs would be in favour of developing countries, predicts World Trade Organisation (WTO) Director- General Mike Moore. 

Helping hand in exports for SMEs

12th February 2002 In response to identified reasons for many small and medium-sized companies’ inability to maximise export potential, it was announced by Sacob director: Trade and Investment James Lennox that the chamber and a leading listed financial services company have agreed to cooperate in assisting... 

Top steel-producing countries mull 117,5m-ton cut

12th February 2002 Representatives of top steel-producing countries agreed to recommend that global output be cut by 117,5-million tons by the end of 2005 to cope with a severe market glut. 

Tip for Trevor: it's time for growth

11th February 2002 The call from economists from across the ideological spectrum is for Finance Minister Trevor Manuel to announce a growth Budget on February 20. 

Global group in SA projects worth R4bn

11th February 2002 The global aerospace, marine and energy company, Rolls-Royce, extended its Strategic Partnership Agreement (SPA) with South Africa after signing agreements on two projects which could generate exports worth more than R4-billion over the next seven years. 

SA to join global fisheries deal

11th February 2002 South Africa will soon join 20 other countries to ensure that fisheries, a vital source of food, employment, trade and economic wellbeing to people throughout the world, are conducted in a responsible manner. 

R250m equipment deal ahead of telecom duopoly

11th February 2002 Swedish telecoms equipment maker Ericsson has won a R250-million deal to roll out a network for South Africa’s Transtel, which will take part in the planned new fixed-line phone operator to rival utility Telkom. 

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