https://www.engineeringnews.co.za
R/€ = 16.30 Change: 0.07
R/$ = 14.31 Change: 0.05
Au 1430.20 $/oz Change: 27.68
Pt 814.58 $/oz Change: 4.10
 

Macro and Micro News

Astral Foods secures emergency water arrangement for Mpumalanga facility 

By: Simone Liedtke     24th June 2019 Poultry producer Astral Foods has recently, with the assistance of a number of national government departments, secured an emergency arrangement with the Lekwa municipality as an interim measure to stave off the water crisis affecting its Goldi poultry processing facility in Standerton,... 

Libstar increases its competitiveness with new par-baked goods offering

By: Simone Liedtke     24th June 2019 Food and beverage producer Libstar Group has further increased its competitiveness by expanding its facilities to meet client requirements by converting a section of the group’s Amaro Foods facility, in Epping, into a par-bake facility.   

Libstar increases its competitiveness with new par-baked goods offering

US official outlines conditions for enticing more US firms to Africa

By: Terence Creamer     21st June 2019 US Assistant Secretary of State for African Affairs Tibor Nagy believes there is a window of opportunity for South Africa to attract direct investment from American firms that are currently seeking outlets for billions of dollars in capital, accumulated as a result of strong economic conditions... 

US official outlines conditions for enticing more US firms to Africa

GVK to pay R6m fine in settlement with competition authorities

By: Simone Liedtke     21st June 2019 The Competition Tribunal has ordered local construction firm GVK Siyazama Building to pay an administrative penalty of just over R6-million after the firm admitted to collusive tendering in three construction projects in the Western Cape. The firm’s admission and its agreement to pay the fine,... 

SARB likely to cut rates at next meeting – economist 

By: News24Wire      21st June 2019 The South African Reserve Bank will likely cut the repo rate by about 25 basis points at its Monetary Policy Committee meeting in July and then keep rates flat for a while, Nicky Weimar, senior economist at Nedbank, said on Wednesday. In her view, such a rate cut might lead to some consumer... 

 SARB likely to cut rates at next meeting – economist

R230bn in Eskom funding confirmed 

21st June 2019 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the confirmation by President Cyril Ramaphosa that Eskom will receive R230-billion in funding from government over a ten-year period. 

R230bn in Eskom funding confirmed
R230bn in Eskom funding confirmed

Eskom welcomes Trillian judgment, calls on more firms to come forward 

By: News24Wire      21st June 2019 Eskom has welcomed a high court judgement ordering Trillian to pay back the R595-million it earned in an "unlawful and invalid" contract. The Gupta-linked advisory firm was ordered by the High Court in Pretoria on Tuesday to pay back the money after the utility in March 2018 launched a bid to set... 

 Eskom welcomes Trillian judgment, calls on more firms to come forward

We need detail, and we need it soon, business says in SoNA response 

By: Terence Creamer     21st June 2019 Business Unity South Africa (Busa) has lamented the absence of “real implementation plans” from President Cyril Ramaphosa’s June State of the Nation Address (SoNA) and has urged him to work with business to table a clear implementation plan, with timeframes and milestones, to address South... 

We need detail, and we need it soon, business says in SoNA response
Photo by Creamer Media's Dylan Slater
Busa president Sipho Pityana

Ramaphosa confirms R230bn support for Eskom to be front-loaded

By: Terence Creamer     20th June 2019 President Cyril Ramaphosa announced on Thursday that the R230-billion in fiscal support being directed to debt-laden power utility Eskom over the coming ten years would be structured in a way that ensures a significant portion is provided in the early years. A Special Appropriation Bill would be... 

Ramaphosa confirms R230bn support for Eskom to be front-loaded
President Cyril Ramaphosa

Nigeria to consider its industries in Africa free trade zone decision

By: Reuters     20th June 2019 Nigeria will consider the interests of its industries in deciding whether to sign up to a $3-trillion Africa free-trade agreement, President Muhammadu Buhari said in a meeting with local manufacturers on Wednesday. The African Continental Free Trade Agreement (AfCFTA) encompasses 1.2-billion... 

Naamsa Automotive Conference to boast two themes this year

By: Simone Liedtke     20th June 2019 This year’s iteration of the Naamsa Automotive Conference will feature two themes that will be linked under the overall slogan of ‘Reimagining the future together’. The first theme, ‘Embracing innovation as an indispensable catalyst for prosperity and sustainable growth’, will interrogate how... 

TCTA moves ahead with R12.3bn second phase of Mokolo-Crocodile water scheme 

By: Terence Creamer     19th June 2019 Trans-Caledon Tunnel Authority (TCTA) announced on Wednesday that it had commenced with the implementation of the Mokolo-Crocodile Water Augmentation Project Phase 2A (MCWAP-2A) project, which is strongly associated with minerals and energy projects in the Limpopo province and is, thus, facing... 

Indian Ocean Rim economies urged to increase trade with each other

By: Shirley le Guern     18th June 2019 It is time to re-energise the Indian Ocean Rim Association (Iora), created by Nelson Mandela in 1997, and transform it into an active body that unlocks tangible business opportunities and helps negotiate the removal of disruptive nontariff barriers between the 22 member States. This was the... 

Cosatu argues for worker representation on PIC board

By: News24Wire      18th June 2019 South Africa's largest trade union federation the congress of South African Trade Unions has argued for worker representation on the board of State-run asset manager the Public Investment Corporation, saying this would help keep looting in check and increase workers' trust. Matthew Parks, the... 

 Cosatu argues for worker representation on PIC board

South Africa finds a credit rating, once lost, is hard to regain 

By: Bloomberg     18th June 2019 Lesetja Kganyago, then the top official at South Africa’s National Treasury, was taking a break at Sugarloaf Mountain in Rio de Janeiro between two G20 meetings in November 2008 when he got the bad news. Barely three years after his country had managed to get its highest-ever investment-grade... 

South Africa finds a credit rating, once lost, is hard to regain
Photo by Bloomberg
Reserve Bank governor Lesetja Kganyago

SA govt urges developing countries to respond to anti-globalisation initiatives

By: African News Agency      18th June 2019 The South African government on Monday, urged the 22 countries that belong to the Indian Ocean Rim Association to discuss how to respond to the anti-globalisation initiatives that were arising from powerful countries in the world. Sipho Zikode, deputy director-general of special economic zones at... 

SA govt urges developing countries to respond to anti-globalisation initiatives
President Cyril Ramaphosa

Good news for SA motorists! Huge 91c fuel price drop – AA

By: News24Wire      14th June 2019 Retreating oil prices have painted a rosier picture for South African fuel users than has been the case for much of 2019.  This is according to the Automobile Association which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund. At this stage of the month,... 

Good news for SA motorists! Huge 91c fuel price drop – AA

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA 

By: Terence Creamer     14th June 2019 Hydrogen and hydrogen-based fuels could help facilitate the decarbonisation of a range of sectors where the pathway for achieving meaningful emission reductions is currently uncertain or difficult, a new global study argues. Released by the International Energy Agency (IEA) at a meeting of G20... 

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA

Kganyago says model shows room for rate cuts 

By: Bloomberg     14th June 2019 The South African Reserve Bank’s forecasting model suggests there might be room for interest-rate cuts in the next year or two, given how weak the economy is, Governor Lesetja Kganyago said. While the central bank can play a role to help economic growth, decisions should be supported by other... 

Kganyago says model shows room for rate cuts
Photo by Bloomberg
Reserve Bank governor Lesetja Kganyago

Collaboration seen as key to unlocking South Africa’s industrial potential

By: Simone Liedtke     14th June 2019 The revival of South Africa’s flagging manufacturing sector is core to President Cyril Ramaphosa’s broader economic recovery plan. The importance attributed to manufacturing can be seen in the President’s decision to appoint the experienced Ebrahim Patel to lead the newly restructured Trade and... 

Collaboration seen as key to unlocking South Africa’s industrial potential

ACSA appoints new acting CFO

By: Simone Liedtke     13th June 2019 Lindani Mukhufwani has been appointed acting CFO of Airports Company South Africa, effective June 13. She succeeds Dirk Kunz, who has been acting CFO since January 2017. 

Low business confidence to remain for foreseeable time – survey

By: Marleny Arnoldi     13th June 2019 The Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) Business Confidence Index (BCI) flatlined at a “worryingly” low 28 in the second quarter of the year. The BER on Thursday stated that seven out of every ten respondents had remained unsatisfied with current business conditions... 

Rescue practitioners seek another extension for Group Five plan 

By: Terence Creamer     13th June 2019 Group Five’s joint business rescue practitioners reported on Thursday that they would be approaching creditors to seek approval for yet another extension to the June 28 deadline for the publication of a business rescue plan. Initially a deadline of April 16 was set in line with a legal... 

Rescue practitioners seek another extension for Group Five plan

Pioneering 1 MW wave-energy pilot project being built in Hermanus 

By: Terence Creamer     13th June 2019 A South African wave-energy start-up is building a pioneering 1 MW pilot project, based on its patented homegrown design, which will supply clean electricity to a large-scale Hermanus abalone farm, in the Western Cape. Mean Sea Level (MSL) is developing the first-of-its-kind project with equity... 

Pioneering 1 MW wave-energy pilot project being built in Hermanus
Photo by Mean Sea Level
Construction of 1 MW wave-energy pilot project under way in Hermanus

CDI Growth Fund opens for new round of applications

By: Simone Liedtke     12th June 2019 A new application round has opened for the R12.8-million Craft & Design Institute (CDI) Growth Fund. The CDI Growth Fund, which is managed by CDI Capital, is a grant fund specifically for growing South African small businesses who need a cash injection to scale up further and create jobs. 

SARB independence threats are 'hand grenade with the pin out' for South Africa's credibility – analyst

By: News24Wire      12th June 2019 The idea of government reviewing inflation targeting in South Africa's low-growth environment, as well as political threats against the independence of the South African Reserve Bank (SARB), amount to "a credibility hand grenade with the pin out". This is the view of Peter Attard Montalto, head... 

Ramaphosa, Mabuza receive report on land reform and agriculture from advisory panel

By: African News Agency      12th June 2019 President Cyril Ramaphosa and Deputy President David Mabuza on Tuesday received the report of the Presidential Advisory Panel on Land Reform and Agriculture.  The task of the panel, which was appointed in September 2018 to support the work of the Inter-Ministerial Committee (IMC) on land reform... 

Ramaphosa, Mabuza receive report on land reform and agriculture from advisory panel
Photo by Creamer Media
President Cyril Ramaphosa

Treasury moves to improve cost containment at municipal level

By: Marleny Arnoldi     11th June 2019 The National Treasury has gazetted cost containment regulations that are aimed at ensuring efficient, effective and economic use of municipal resources. The new regulations will take effect on July 1.  

Manufacturing sector remains resilient, output up 4.6% y/y in April 

By: Marleny Arnoldi     11th June 2019 Despite the encouraging improvement in manufacturing output in April, Steel and Engineering Industries Federation of Southern Africa economist Marique Kruger says there are still concerns about constraints, including exchange rate volatility and rising costs, facing the sector. Statistics South... 

Manufacturing sector remains resilient, output up 4.6% y/y in April
Photo by Creamer Media
Steel and Engineering Industries Federation of Southern Africa economist Marique Kruger

Ramaphosa praises ILO's social justice approach

By: African News Agency      11th June 2019 President Cyril Ramaphosa on Monday commended the contribution of the International Labour Organisation for the contribution and impact it has made to work and the lives of workers in its 100 years of existence. Ramaphosa said that the ILO played a pivotal role during South Africa’s struggle for... 

 Ramaphosa praises ILO's social justice approach
President Cyril Ramaphosa

Renergen dual listing to provide benefit of Australian research, understanding 

By: Simone Liedtke     10th June 2019 Emerging liquid helium and liquid natural gas (LNG) producer Renergen’s recent listing on the ASX will benefit the company by giving it access to Australian research and industry understanding, CEO Stefano Marani tells Engineering News Online. Renergen, which is also listed on the JSE’s AltX,... 

Renergen dual listing to provide benefit of Australian research, understanding
Renergen CEO Stefani Marani discusses the company’s recent ASX-listing and the company’s Virginia gas project with Engineering News Online. Video & Editing: Creamer Media’s Darlene Creamer 10.6.2019

BLSA appalled by threats to SARB independence 

By: Thabi Madiba     10th June 2019 Business Leadership South Africa on Monday said it condemned what it called “deliberate attempts” to undermine the South African Reserve Bank’s legitimacy and called out the African National Congress for threatening to collapse the country’s economy. BLSA said in a statement that the ANC seemed... 

BLSA appalled by threats to SARB independence

SA SME Fund aims to set up South Africa’s first university technology fund by August 

By: Terence Creamer     10th June 2019 The SA SME Fund, created in 2016 by big business to support entrepreneurs and help established small firms expand, is planning to set up a R150-million university technology fund to support the commercialisation of intellectual property developed at South Africa’s tertiary institutions. The... 

SA SME Fund aims to set up South Africa’s first university technology fund by August
SA SME Fund CEO Ketso Gordhan

Busa CEO Tanya Cohen steps down

By: African News Agency      10th June 2019 Tanya Cohen is stepping down as chief executive of Business Unity South Africa after two-and-a-half years at the helm, the apex business organisation announced on Monday. Busa said that after careful consideration and in consultation with the board, Cohen has been granted permission to take leave... 

Busa CEO Tanya Cohen steps down
Photo by Creamer Media's Dylan Slater
Outgoing Busa CEO Tanya Cohen

SA's shrinking economy credit negative for govt, banks – Moody's

By: News24Wire      10th June 2019 Global rating agency Moody's says the contraction of South Africa's GDP in the first quarter is credit negative for SA's government and the country's banks.  Last week Stats SA announced the economy shrank by 3.2% in the first three months of the year, the biggest drop a decade.  

SA's shrinking economy credit negative for govt, banks – Moody's

Trade wars a drag on global economy, says Patel

By: African News Agency      10th June 2019 Trade and Industry Minister Ebrahim Patel said on Monday that heightened uncertainty from growing trade tensions was also placing a drag on an already fragile global economy.  This as Patel returned from Japan where he attended the two-day G20 Joint Trade and Digital Economy Ministers and the G20... 

Steinhoff, Tongaat woes raise South African auditor scrutiny

By: Bloomberg     10th June 2019 Steinhoff International’s financial scandal and sugar maker Tongaat Hulett’s admission it may need to restate results is spurring South African auditors to weigh tougher measures for the profession. While auditors are expected to reassure the public that the financial statements they have signed... 

Steinhoff, Tongaat woes raise South African auditor scrutiny
First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Projects

more

Topics In These Articles

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 for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close