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Latest News

SA remains set on Telkom listing this fiscal year

12th October 2001 The South African government reiterated its commitment to the initial public offering (IPO) of telephone giant Telkom during the current fiscal year, subject to market conditions. 

UK bargains for SA steel

12th October 2001 UK-based LNM Group, the world’s number-four steel producer, is in talks to buy a stake in South African steelmaker Iscor, an LNM spokesperson said. 

World Bank disects ‘Terror Tuesday’

11th October 2001 The September 11 terrorist attacks in the US will hurt economic growth in developing countries worldwide in 2001 and 2002, condemning as many as ten- million more people to live in poverty next year, and hampering the fight against childhood diseases and malnutrition, the World Bank reports in a... 

Telecoms Bill redraft progresses

11th October 2001 On Tuesday the South African parliament began redrafting a crucial telecommunications Bill that will dismantle the State’s telephone monopoly and lay the basis for privatisation. 

SA’s TMT group has a solid year

11th October 2001 South Africa’s leading telecommunications, multimedia, information technology and power electronics corporation, Altron, reported strong revenue growth of 25,8% from R4-billion to R5-billion Headline earnings per share rose 12% from 45,8 cents to 51,3 cents for the six months to August 31... 

Trade talks in jeopardy – claim

11th October 2001 The EU and the US are locked in a bitter dispute with developing countries which could threaten the launch of a new round of global trade talks next month in Qatar, reports the Guardian. 

Russians to invest in Sudan

10th October 2001 Russian-Belarus oil firm Slavneft said it would invest $126-million in developing an oilfield in Sudan once it has signed a production-sharing agreement with the Sudanese government in January 2002. 

R250m hotel one of the biggest in Africa

10th October 2001 A former Saudi oil minister, Sheikh Yamani, is to build one of Africa’s biggest hotels in Accra. 

Transtel still after SNO stake

10th October 2001 The telecoms arm of transport parastatal Transnet, Transtel, is confident that it will participate in the second national fixed-line operator. 

R450-million upgrade on the cards at paper mill

10th October 2001 Pulp and paper giant Mondi has announced plans to upgrade one of its fine-paper machines, the PM2, and the installation of a multifuel boiler at its Merebank integrated pulp and paper mill located in Durban South. 

Steel output not hurt by protests

10th October 2001 South African steel producer Iscor said production at its Vanderbijlpark plant had not been affected by a five-hour stoppage by workers protesting its plans to split into two divisions. 

Eastern Cape moves ahead with hemp plans

9th October 2001 Hemp farming in the Eastern Cape received a significant boost when R500 000-worth of farming equipment was handed over by the Department of Agriculture. 

Hydrocarbon search offshore Morocco

9th October 2001 Morocco’s state-run Onarep office and Kerr-McGee du Maroc, an arm of US oil and gas company Kerr-McGee, signed an accord over offshore hydrocarbon research in the Western Sahara region. 

Big gas-to-liquids contract awarded

9th October 2001 South African petrochemical company, Sasol, has awarded a large engineering contract for its big gas-to-liquids (GTL) investment planned for Qatar in the Middle East. 

Strike action over company split

9th October 2001 Workers at South African steel and mining firm Iscor will hold a one-day stoppage today over the company’s plan to split into two divisions, their union said. 

Egypt calls for Arab-pipeline urgency

8th October 2001 Egypt’s Prime Minister, Atef Obeid, said that plans to build a pipeline to supply Jordan, Lebanon and Syria with Egyptian natural gas should be accelerated. 

Global bid to boost Africa’s telecoms regulators

8th October 2001 The International Telecommunication Union (ITU) has breathed life into the first African Telecommunications Regulators’ Network (ATRN), which will have as its mandate the fostering of the regulatory preconditions for developing the African Information Society and economic integration on the... 

Africa to be worst hit by terror attacks

8th October 2001 Africa will be the most affected by the expected economic slowdown this year following the September 11 tragedy, as it will condemn two-million to three-million Africans to fall below the poverty line. 

Africa's big gas adventure begins

5th October 2001 Natural gas was, until a few years ago, seen as a nuisance by the energy industry. In fact, it is still often flared against the night sky in spectacular orange plumes wherever it is found on the world's oil fields. 

South Africa to win from Hungarian fighter choice

5th October 2001 The decision by Hungary to adopt the Saab Gripen as its new fighter aircraft will benefit the South African avionics industry, even though the central European country will be acquiring second-hand aircraft, Engineering News can report. 

$10 bn needed to rehabilitate West African energy plants

5th October 2001 West African countries need about $10-billion to rehabilitate and construct new electricity generation plants and to update and build new high-voltage transmission lines in the next 15 years, reports the News Agency of Nigeria. 

Algeria strikes new oil, gas reserve

4th October 2001 Algeria had discovered a new oil and gas province where reserves could be as large as those in the promising Hassi Berkine basin. 

SA, Lesotho get biodiversity support

4th October 2001 Grant funding worth $15,24-million has been approved to the governments of South Africa and Lesotho for the five-year Maloti-Drakensberg Transfrontier Conservation and Development Project. 

Algerian, Venezuelen leaders to talk oil

4th October 2001 Venezuelan President Hugo Chavez will discuss OPEC’s oil price strategy with his Algerian counterpart, Abdelaziz Bouteflika, when the two leaders meet in Algiers this month, Venezuela’s foreign minister said. 

Africa to quadruple cellphone density in five years

4th October 2001 The number of mobile phone subscribers in Africa will more than quadruple in the next five years, but with huge regional differences, a survey found. 

Railways-restructuring framework this month

By: Terence Creamer     3rd October 2001 It is anticipated that a final announcement on the restructuring model for State-owned railways company, Spoornet, will be made towards the end of this month. 

Some developing countries concerned about WTO drafts

3rd October 2001 Developing countries voiced disappointment over an outline plan from World Trade Organisation (WTO) officials aimed at getting new global trade liberalisation talks launched later this year. 

New SA airports boss

3rd October 2001 As of November 1, Monhla Hlahla, currently regional manager, employees benefits, for Old Mutual and a non-executive director of Airports Company South Africa (ACSA), has been appointed CEO of ACSA. 

Mozal strike looms

3rd October 2001 Unionised workers at Mozambique’s Mozal aluminium smelter have threatened to strike today in a dispute over wages. Union leaders said they had called the strike to pressure management to negotiate on a list of union demands presented on August 23. 

Nigeria issues anti-flaring oil-permit preconditions

2nd October 2001 Determined to make good its target of attaining complete eradication of flaring its natural gas associated with oil and gas exploration in the country, the Nigerian federal government has issued fresh conditions for granting new exploration permits . 

CSIR raises private income flow to 62%

2nd October 2001 National research council the CSIR exceeded its targeted external operating income of R450,4-million by R33,7-million, reflecting a year-on-year growth of 13,5%, during a year in which conditions remained competitive. 

Agri deal ahead of Doha meeting

2nd October 2001 The Agriculture Committee of the World Trade Organisation (WTO) agreed on three implementation issues that are part of the preparation for the Doha Ministerial conference in November. 

Risk agency expects tough 2002

2nd October 2001 Export risk agency Credit Guarantee has reported healthy results in its financial year to June, offsetting underwriting losses of the previous two years to put the credit insurer in a strong position to withstand expected tough local and international trading conditions for the current period. 

Tenth of GDP lost to ineffective SHE practices

1st October 2001 Companies which do not have effective safety, health and environment (SHE) management systems in place are costing South African industry some R80-billion yearly in losses, says National Education Research Safety and Health Consultancy (Nershco) CE Dr Johan Schoeman. 

Oz could host next gas-to-liquids plant

1st October 2001 Fuel producer Sasol Chevron is racing against time for the establishment of its proposed multibillion-dollar gas-to-liquids (GTL) plant in Australia. 

East Africa offshore oil project gets go-ahead

1st October 2001 East African fledgeling oil industry has received a boost with the announcement of an oil exploration project off the Tanzanian coast. 

SA's manufacturing industry: Where has all the growth gone?

28th September 2001 Researchers at the National Institute for Economic Policy (NIEP), a Johannesburg-based non-governmental organisation, have published a critical analysis of the South African manufacturing sector. The document, entitled 'Where has all the growth gone? South African Manufacturing Industry... 

30% of State engineer on auction block

28th September 2001 Thirty per cent of the shareholding of each of Rotek Industries subsidiaries Rotek Engineering (RE) and Roshcon will be owned privately from February next year, a Johannesburg firm appointed to advise the government on the long-awaited restructuring tells Engineering News. 

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