https://www.engineeringnews.co.za
R/€ = 18.26 Change: -0.07
R/$ = 16.14 Change: -0.08
Au 1783.47 $/oz Change: 13.77
Pt 936.31 $/oz Change: -8.19
 

Macro and Micro News

Manufacturing production grows less than expected

By: Chanel de Bruyn     8th April 2010 South Africa’s manufacturing output rose by 2,7% year-on-year in February, and while below market expectations, this was still considered a positive move. Efficient Group economist Freddie Mitchell commented on Thursday that the figures were below the market expectations of 4,7%, but said this... 

Absa upgrades SA growth outlook, but warns on power

By: Terence Creamer     8th April 2010 South African investment bank Absa Capital announced an upgrade to its 2010 growth forecast for the South African economy on Thursday, from 3,1% to 3,3%, but also warned that South Africa's electricity shortages could constrain future mining and industrial investment and undermine future growth... 

SA should step up participation in global trade

By: Creamer Media Reporter      8th April 2010 With the global and local economy improving, South Africa had to ensure that it increased its participation in international trade, as this was critical for economic growth, the South African Chamber of Commerce and Industry (Sacci) said on Thursday. With the release of its business confidence... 

Strikes, high-profile murders don’t bode well for investor perception – Sacci

By: Chanel de Bruyn     7th April 2010 Not only did the recent local taxi and labour strikes, high-profile murders and “ill-conceived utterances” from political figures risk potentially deterring visitors from attending the 2010 FIFA World Cup, but this also did not bode well for investor perception, the South African Chamber of... 

CEO confidence improved in Q1, survey shows

By: Creamer Media Reporter      7th April 2010 The level of confidence among South African CEOs has again improved in the first quarter of this year, indicating that the local economic recovery was indeed under way. The latest Merchantec CEO Confidence Index recorded its third consecutive quarterly improvement in the first quarter of this... 

SA would ‘cope' should World Bank fail to grant Eskom loan  

By: Terence Creamer     1st April 2010 South Africa remained "optimistic" that the World Bank would approve a $3,75-billion loan for State-owned power utility Eskom on April 8, 2010, Finance Minister Pravin Gordhan said on Thursday. However, he said that the country, which had hitherto refrained from accepting loans from the bank,... 

Revenue performance was phenomenal – Gordhan 

By: Sapa     1st April 2010 South Africa's revenue performance for the 2009/10 fiscal year was "phenomenal", Finance Minister Pravin Gordhan said on Thursday. "By midnight last night [Wednesday] Sars had collected R598,5-billion in revenue for the financial year 2009/10 - R8,1-billion more than the revised estimate... 

Fixing the exchange rate will be hard – Kganyago

By: Loni Prinsloo     23rd March 2010 A fixed exchange rate regime would not be a solution for South Africa, National Treasury director general Letsetja Kganyago said on Tuesday, pointing out that it would be hard to implement and that it would carry a range of economic costs. "Such a regime would require South Africa to give up its... 

State should seize iron-ore initiative and move debate into developmental realm

By: Terence Creamer     12th March 2010 Without question, there is very little sympathy out there for ArcelorMittal South Africa in its fight to hold on to a favourable 25-year iron-ore arrangement with Sishen Iron Ore Company (SIOC). The main reason is that the benefits of the 2001 Iscor unbundling agreement - engineered primarily to... 

Business confidence returns to precrisis level

By: Creamer Media Reporter      9th March 2010 While the 15-point climb in the Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) quarterly Business Confidence Index (BCI) for the first quarter of 2010 was “heartening”, RMB chief economist Ettienne le Roux warned that the improvement remained patchy and “heavily leveraged” towards... 

IMF working on $100bn ‘green fund’ – Strauss-Kahn 

By: Chanel de Bruyn     8th March 2010 The International Monetary Fund (IMF) was “working on the idea of a green fund” to raise $100-billion a year by 2020 to mitigate the impacts of climate change on developing economies, IMF MD Dominique Strauss-Kahn told a conference in Kenya on Monday. He noted that climate change could “well be... 

SA is an attractive investment destination − Zuma 

By: Chanel de Bruyn     4th March 2010 The prospects for South Africa’s economic recovery was promising, while the country remained an “excellent destination” for investment in all sectors, including the manufacturing and mining sectors, President Jacob Zuma told the British Parliament on Thursday. Zuma had undertaken his first State... 

Stringent conditions placed on SA bail-out beneficiaries

By: Jade Davenport     2nd March 2010 Those financially distressed companies that have received or are seeking State support have to comply with stringent conditions, covering everything from executive bonuses to limiting job cuts, Economic Development Minister Ebrahim Patel said on Tuesday. 

Cabinet to consider new growth plan by midyear

By: Jade Davenport     2nd March 2010 Government's economic sectors and employment cluster, which has been mandated to grow the economy and create jobs, is in the process of developing a ‘Growth Plan' for consideration during the mid-year Cabinet lekgotla. Speaking at a media briefing in Cape Town on Tuesday, Science and Technology... 

Minister Davies to seek urgent meetings with Kumba, ArcelorMittal and Anglo

By: Terence Creamer     27th February 2010 Trade and Industry Minister Dr Rob Davies will seek urgent meetings with Kumba Iron Ore (KIO), Anglo American (KIO's majority shareholder) and ArcelorMittal South Africa to discuss the reasons for, as well as the implications of, KIO's announcement that it would cancel the cost plus 3% iron-ore... 

Surprises, even some unhappy ones, in the so-called Budget of no surprises 

By: Terence Creamer     26th February 2010 The conventional wisdom surrounding Finance Minister Pravin Gordhan’s inaugural Budget is that it was a sound “business as usual” Budget, with few surprises. But closer analysis reveals a number of surprises, some of which could be considered unhappy ones. The first surprise (happy for some, but... 

SA big business wants growth-driven 2040 vision to be new national goal 

By: Terence Creamer     23rd February 2010 Big business in South Africa has initiated a campaign, loosely dubbed 'Vision 2040', which sets out as its overall goal the transformation of the country from a developing to developed one over 30 years. To achieve that, a target of doubling gross domestic product (GDP) per person over the period... 

SA economy grows 3,2% as manufacturing picks up

By: Chanel de Bruyn     23rd February 2010 South Africa’s gross domestic product (GDP) fell by 1,4% year-on-year in the fourth quarter of 2009, while GDP growth for the year was down 1,8% on that of 2008, Statistics South Africa (Stats SA) reported on Tuesday. However, the country's GDP expanded by 3,2% in the final three months of the... 

Africa's economic growth may reach 7% in 2011

By: Jade Davenport     22nd February 2010 Economic growth in Africa was expected to rise to 5% this year and could reach 7% in 2011, African Development Bank (AfDB) president Donald Kaberuka said on Sunday. Kaberuka was addressing a panel of finance ministry and bank officials at the AfDB's Committee of Ten (C10) meeting in Cape Town at... 

Industrial policy success hinges on job creation, Davies says

By: Jade Davenport     18th February 2010 An estimated 825 706 direct and 2,5-million indirect jobs could be created over the next ten years through the successful implementation of South Africa's now much-vaunted Industrial Policy Action Plan (Ipap), the second round of which would run from 2010/11 to 2012/13, Trade and Industry... 

R3,6bn more for industry incentives, but big industrial plan will need off-Budget fillip

By: Terence Creamer     17th February 2010 The South African government has set aside an additional R3,6-billion for the Department of Trade and Industry (DTI) to partly support the second version of its Industrial Policy Action Plan, or Ipap2, which will run from April 1, 2010, through to March 31, 2013 - details on the much discussed... 

Gordhan provides details on R846bn infrastructure plan

By: Chanel de Bruyn     17th February 2010 While the public sector continued with plans to spend R845,6-billion on infrastructure over the next three years, government had also started with extensive planning and consultation on the required infrastructure programmes for the coming ten to 20 years, Finance Minister Pravin Gordhan said on... 

Gordhan holds steady on inflation target, but hints to broader SARB mandate

By: Terence Creamer     17th February 2010 The South African Reserve Bank (SARB) will continue to target inflation within a range of 3% to 6%, Finance Minister Pravin Gordhan confirmed in his inaugural Budget address to Parliament in Cape Town on Wednesday. He also stressed that government was committed to the Constitutional stipulation... 

Gordhan likely to take small steps in first Budget

By: Sapa     16th February 2010 Economists expect little real intervention from Finance Minister Pravin Gordhan when he pronounces on the thorny issues of inflation targeting and the exchange rate in his first annual Budget on Wednesday amid sustained public debate on both. Econometrix chief economist Azar Jammine said calls... 

New industrial plan to outline sector job targets and timeframes 

By: Terence Creamer     15th February 2010 The second version of South Africa's much-debated Industrial Policy Action Plan, or Ipap2, will include specific timeframes for the achievement of sectoral job-creation targets and will seek to kick-start so-called "green industries", Trade and Industry Minister Dr Rob Davies told Parliament on... 

SA economy seen growing in 2010, CPI to fall below 6% 

By: Chanel de Bruyn     15th February 2010 While South Africa was likely to see gross domestic product (GDP) growth of about 2,7% this year and 3,5% in 2011, the Bureau for Economic Research (BER) on Monday warned that the global economy could suffer a growth relapse at the end of this year or early in 2011. In a quarterly economic... 

Chabane moots regulator for the regulators

By: Christy van der Merwe     12th February 2010 A single regulatory coordinator, under the Competition Commission, was being considered by the South African government to enhance consistency and quality of regulation, Minister in The Presidency Collins Chabane said on Friday. The announcement was met with enthusiasm and surprise among the... 

Davies to unveil expanded industrial policy plan next week

By: Terence Creamer     12th February 2010 South Africa's Trade and Industry Minister Dr Rob Davies will provide insight into the newly approved Industrial Policy Action Plan (Ipap), for the period 2010 to 2013, at a briefing on Thursday. The briefing will take place in Cape Town the day after Finance Minister Pravin Gordhan is scheduled... 

Chabane outlines plan to improve govt performance

By: Creamer Media Reporter      12th February 2010 Minister in the Presidency for Performance Monitoring and Evaluation Collins Chabane on Friday outlined some of the 12 performance outcomes that government has set itself. He noted that Cabinet had already approved nine of the 12 outcomes last year, with the remaining three to be discussed in... 

Zuma's speech unlikely to have big Budget implications

By: Sapa     12th February 2010 Minister in the Presidency Collins Chabane on Friday rejected notions that policy initiatives announced in President Jacob Zuma's sState of the nation address would have a major impact on the Budget tabled next week. Chabane said Finance Minister Pravin Gordhan's first budget would be informed... 

SA’s growth likely to exceed Treasury’s forecast – economist

By: Chanel de Bruyn     11th February 2010 While this year’s budget would be a “challenging” one for the National Treasury, it could be pleasantly surprised in terms of the country’s growth, Deloitte economist Kay Walsh said on Thursday. She noted during a pre-budget media briefing that the National Treasury had initially expected South... 

Zuma to leave economic details to Ministers

By: Sapa     10th February 2010 President Jacob Zuma will indicate a change in industrial policy in his state of the nation address, but leave an expected announcement on monetary policy to the National Treasury, Minister in the Presidency Collins Chabane said on Thursday, Chabane said Finance Minister Pravin Gordhan was best... 

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... 

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... 

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... 

 

Latest News

more

Latest Videos

more

Projects

more

 
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