http://www.engineeringnews.co.za
R/€ = 16.79 Change: 0.10
R/$ = 14.30 Change: 0.05
Au 1195.10 $/oz Change: -4.88
Pt 824.50 $/oz Change: -4.29
 
Close

Email me free daily news

Email address

Embattled South African construction firm Aveng reports wider FY operating loss

By: Reuters     Updated 6 hours ago South Africa's Aveng reported on Tuesday a wider annual net operating loss due to declining revenue in two business units in its manufacturing business as well as under-performance of three key contracts in its core mining Moolmans unit. After market close, the construction firm reported a net... 

Embattled South African construction firm Aveng reports wider FY operating loss

Stats SA reports SA lost 69 000 jobs in second quarter

By: News24Wire      Updated 3 hours ago Employment in South African's non-agricultural formal sector dropped by 69 000 between March and June 2018, Stats SA announced on Wednesday in its  latest Quarterly Employment Statistics (QES) bulletin.  The QES results, published quarterly, are based on a sample survey conducted by Stats SA and... 

 Stats SA reports SA lost 69 000 jobs in second quarter

Visa regulation amendments to ease entry for business travellers, tourists

By: Tasneem Bulbulia     25th September 2018 The Department of Home Affairs (DHA) is pursuing new regulations to make it easier for business travellers, tourists and academia to enter South Africa, but South African minors leaving the country will still need consent from both parents when leaving the country. The announcement of the new... 

Visa regulation amendments to ease entry for business travellers, tourists
Photo by Bloomberg
Home Affairs Minister Malusi Gigaba

New Eskom strategy to include pan-African expansion roadmap

By: Terence Creamer     25th September 2018 State-owned electricity utility Eskom has confirmed that its new strategy, which will involve far-reaching changes to its business model, will seek to position the company for opportunities arising in the rest of Africa. “Growth opportunities for Eskom are not restricted to South Africa. To grow... 

New Eskom strategy to include pan-African expansion roadmap

Link Solar launches portable solar panels suitable for outdoor, marine use

By: Simone Liedtke     Updated 4 hours ago There is a lack of portable solar panels in the market, says specialised solar product manufacturer Link Solar, which has released of its own portable solar panel range for outdoor use and marine grade level use. These solar panels, the company explained, are specifically created to serve as an... 

Mastercard introduces cashless payment for SA's prepaid utility services

By: African News Agency      Updated 3 hours ago Mastercard said on Wednesday South Africans could now buy prepaid utility services or pay their accounts from about 600 bill issuers with the new EasyPay mobile app using Masterpass, the global digital payment service from the financial services firm. The initiative marks a milestone in... 

Mastercard introduces cashless payment for SA's prepaid utility services

Wind body seeks right to contest Nersa report on delayed renewables projects

By: Creamer Media Reporter      25th September 2018 The National Energy Regulator of South Africa (Nersa) Tribunal has invited the South African Wind Energy Association (SAWEA) to present its case this week as to why the tribunal should hear the association’s arguments in opposition to a 2017 Nersa panel report. The document in question concluded... 

Wind body seeks right to contest Nersa report on delayed renewables projects

South African portfolio inflows plummet in second quarter

By: Reuters     25th September 2018 Portfolio investments into the South African economy fell sharply in the second quarter, as investor risk aversion towards emerging markets was rising, central bank data showed on Tuesday. Inward investment into South African bonds and equities shrank to R16.6-billion ($1.16-billion) from... 

Ascendis launches new strategic focus, announces positive FY18 results 

By: Nadine James     25th September 2018 JSE-listed pharmaceutical company Ascendis Health on Tuesday announced a new strategic focus prioritising pharmaceutical and consumer healthcare. The company, which also reported on its results for the financial year ended June 30, plans to divest its biosciences businesses. 

CEO Thomas Thomsen discussing the company's new strategy and the need for divestment. Video and editing: Nicholas Boyd

York Timbers lifts FY18 Ebitda by 12%

By: Simone Liedtke     25th September 2018 Despite challenging market conditions, integrated forestry company York Timbers increased its earnings before interest, taxes, depreciation and amortisation (Ebitda) and core earnings by 12% and 59%, respectively, for the full year ended June 30. The company on Tuesday pointed out that the Ebitda... 

Altron to post double-digit growth in H1 earnings

By: Natasha Odendaal     25th September 2018 JSE-listed Allied Electronics (Altron) on Tuesday said it expects a double-digit improvement in earnings for the six months ended August 31. Following the restructure of a number of core businesses, and the financial division of continuing and discontinued operations, the bulk of Altron’s... 

KSB Pumps and Valves obtains Level 1 BBBEE certification

By: Simone Liedtke     25th September 2018 Global pump manufacturer KSB Pumps and Valves has obtained Level 1 broad-based black economic empowerment (BBBEE) certification. This follows the acquisition of a 30% equity stake in the company by black women-owned firm Insikazi Synergies, which has joined the KSB board to play an active role in... 

KSB Pumps and Valves obtains Level 1 BBBEE certification

Tullow Oil abandons first Namibian well, keeps options open

By: Reuters     25th September 2018 Africa-focused Tullow Oil will abandon its first well in Namibia, but data gathered in the project indicated it might strike lucky in another attempt, it said on Monday. "The Cormorant-1 exploration well in the PEL-37 licence, offshore Namibia, encountered non-commercial hydrocarbons and the well... 

Global crude steel production rises 2.6% y/y in August

By: Simone Liedtke     25th September 2018 Global crude steel production increased by 2.6% year-on-year to 151.7-million tonnes in August, the World Steel Association (worldsteel) reports. According to the data, which was released on Tuesday, China’s crude steel production for August was 80.3-million tonnes, an increase of 2.7% compared... 

Hyatt Hotels to more than double its Africa hotels by 2020

By: Reuters     Updated 32 minutes ago Hyatt Hotels Corp plans to more than double its hotels in Africa by 2020 to capitalise on improved travel links and robust economic growth that is boosting demand for rooms, the company's regional vice president said on Wednesday. Hyatt currently has nine hotels in Africa but lags far behind... 

Interest rates would hurt South African economy, central banker says

By: Reuters     Updated 34 minutes ago South Africa's central bank should stick to targeting inflation rather than trying to stimulate the economy, because an abrupt change in policy would damage its credibility and push up prices, a policymaker at the bank said late on Tuesday. The speech by Deputy Governor Francois Groepe came after... 

Howden Africa considers possible delisting from JSE

By: Simone Liedtke     Updated 36 minutes ago Industrial equipment supplier Howden Africa is considering delisting from the JSE. In a statement published on Wednesday, Howden says its board of directors has been considering the continued viability of the company’s listing on the main board of the JSE. 

EU regulators to rule on Thyssenkrupp, Tata Steel venture by Oct 30

By: Reuters     Updated 36 minutes ago European Union (EU) antitrust regulators will decide by October 30 whether to allow Germany's Thyssenkrupp and India's Tata Steel to create Europe's No. 2 steelmaker, the European Commission said on Wednesday. The companies unveiled their plan for a steel joint venture in July after two years of... 

Three UCT lecturers participate in international Solar Decathlon competition

By: Simone Liedtke     Updated 43 minutes ago Thee lecturers from the University of Cape Town (UCT) are part of Team Mahali, the only team representing sub-Saharan Africa in the international Solar Decathlon competition, which will be held in Morocco next year. The Solar Decathlon is an international competition to design and build a fully... 

Fastjet flags dwindling cash resources, may end Tanzania operations

By: Reuters     Updated 45 minutes ago African airline Fastjet said on Wednesday its available cash resources were minimal and said it was in talks with major shareholders regarding potential equity fundraising. The company also said it was evaluating its Tanzanian operations and could cease operations in country. 

Opec will balance oil markets, but spare capacity limited – Nigerian official

By: Reuters     Updated 48 minutes ago The Organization of the Petroleum Exporting Countries (Opec) will act to balance the market after oil prices hit their highest in four years, but its options may be limited by available spare capacity, a Nigerian oil industry official said on Wednesday. "It's obvious that if you have high prices... 

Climate-related financial disclosure becoming more mainstream – G20 task force

By: Reuters     Updated 50 minutes ago Climate-related disclosure is becoming mainstream as more firms support and align their financial reporting to recommendations by a global task force though few disclose the financial impact on the company, a survey shows. The Task Force on Climate-Related Financial Disclosures (TCFD) was set up... 

Harmony Gold shows off growing portfolio quality in Denver

By: Martin Creamer     Updated 4 hours ago Harmony Gold’s Moab Khotsong mine in South Africa and Hidden Valley mine in Papua New Guinea will together produce a third of the guided 1.5-million ounces in the 12 months to end June, with the projected 500 000 oz from these two operations being produced at an all-in sustaining cost of $950/oz,... 

Harmony Gold shows off growing portfolio quality in Denver
Photo by Creamer Media
Harmony Gold CEO Peter Steenkamp

Kibo’s shares rise as Mbeya coal mine recommended for special mining licence

By: Simone Liedtke     Updated 4 hours ago Aim- and JSE-listed Kibo Energy’s share price on the LSE increased by 10.69% on Wednesday morning after the company announced that the Mbeya coal mine, which comprises the mining component of the Mbeya coal-to-power project (MCPP), has been recommended for the grant of a special mining licence... 

Mantashe to unpack finalised Mining Charter on Thursday

By: News24Wire      Updated 4 hours ago Minister of Mineral Resources Gwede Mantashe will on Thursday morning brief members of the media on the finalised version of the Mining Charter. The long-awaited release of a renewed charter comes a week after Minister of Communications Nomvula Mokonyane confirmed that it had been approved by... 

Mantashe to unpack finalised Mining Charter on Thursday
Mineral Resources Minister Gwede Mantashe

Rand steady ahead of Fed rates announcement on Wednesday

By: News24Wire      25th September 2018 The rand held steady over the long weekend, opening at R14.37 on Tuesday morning following the public holiday on Monday. The local currency was trading at R14.38 to the greenback by 11:23. 

 Rand steady ahead of Fed rates announcement on Wednesday

South Africa to relax visa rules to boost investment, tourism

By: Reuters     25th September 2018 South Africa will ease some immigration rules, including agreeing visa waiver agreements with more countries, in an effort to boost investment and tourism, Home Affairs Minister Malusi Gigaba said on Tuesday. The changes are part of a broader economic turnaround programme announced by President... 

South Africa to relax visa rules to boost investment, tourism
Home Affairs Minister Malusi Gigaba

South African phosphate miner plans London IPO by year-end – CEO

By: Reuters     25th September 2018 South African phosphate miner, Kropz, is on track to list on London's Aim Stock Exchange by the end of the year as it prepares for first production from its main asset in 2019, its chief executive said on Tuesday. Kropz wants to raise cash to pay down debt and further develop its Elandsfontein... 

PRASA 'indefinitely' suspends trains in KZN

By: News24Wire      25th September 2018 There will be no trains in the entire province of KwaZulu-Natal on Tuesday, the Passenger Rail Agency of South Africa (PRASA) confirmed to News24 on Monday evening. PRASA provincial spokesperson Zama Nomnganga said they have indefinitely suspended all their operations in KZN. "Yes, we have done... 

Government announces memorial and funeral service dates for late Edna Molewa

By: News24Wire      25th September 2018 Government has announced the dates for the official memorial and funeral services of late Environmental Affairs Minister Edna Molewa. Molewa passed away on Saturday, at the age of 61. Her official memorial service will take place in Pretoria on Wednesday, government announced on Monday night.... 

Government announces memorial and funeral service dates for late Edna Molewa
Photo by Creamer Media
The late Environmental Affairs Minister Edna Molewa

Gigaba expected to share details of amendments to visa regulations

By: News24Wire      25th September 2018 Home Affairs Minister Malusi Gigaba is expected to share more details of government's amendments to the visa regulations on Tuesday in Pretoria. This follows an announcement by President Cyril Ramaphosa on Friday on changes to the visa regime as part of the economic stimulus and recovery plan.... 

Gigaba expected to share details of amendments to visa regulations
Photo by Reuters
Home Affairs Minister Malusi Gigaba

Selling off assets won't save SAA, says DA

By: African News Agency      24th September 2018 Reported plans to sell off certain assets will not save the South African Airways (SAA) and the airline needs to be put into business rescue, the Democratic Alliance said on Sunday. The DA was not surprised by media reports on Sunday that SAA was contemplating selling off assets as a result of... 

Parliament's Environmental Affairs committee pays tribute to late Minister Edna Molewa

By: African News Agency      24th September 2018 Parliament's environmental affairs portfolio committee has joined others in paying tribute to environmental affairs minister Edna Molewa, who died at the age of 61 in a Pretoria hospital on Saturday after a short illness.  "The committee is saddened by the passing of the minister, as she has... 

South African investment mission to Japan 'successful', says acting Invest SA head

By: African News Agency      24th September 2018 Many Japanese companies are keen to invest in South Africa and others are interested in expanding their investments, Invest South Africa acting head Yunus Hoosen said on Sunday. . In a statement after returning from an investment mission by the trade and industry department (DTI), together with... 

Air traffic control undergoing a digital revolution

By: Rebecca Campbell     21st September 2018 The dramatic advances in information and communications technology, electro-optical technologies and digitalisation have enabled a revolution to take place in terms of airport air (and ground) traffic control. This was highlighted in a briefing at the Africa Aerospace and Defence 2018 exhibition... 

Air traffic control undergoing a digital revolution
Photo by Dylan Slater
Saab VP: Civil Security Middle East and North Africa region David Schomar

Recycled PET use held back by collection rates

By: Schalk Burger     21st September 2018 Beverage multinational subsidiary Coca-Cola Bottling South Africa (CCBSA) uses 10% recycled polyethylene terephthalate (rPET) and has completed technical and production validation of 25% rPET content, but are constrained by the availability of rPET, Coca-Cola Bottling Gauteng and Inland regional... 

Recycled PET use held back by collection rates

Initiative seeks to further local procurement in franchising

By: Tasneem Bulbulia     21st September 2018 The Franchise Association of South Africa (Fasa) has partnered with Proudly SA to increase the local procurement of goods and services within the franchising sector by facilitating collaboration between suppliers, franchisors and franchisees. This joint enterprise development initiative was... 

Franchising sector records positive growth

By: Tasneem Bulbulia     21st September 2018 Franchising continues to show growth and resilience despite challenging socioeconomic and political challenges in the country. The industry has an estimated turnover of R721-billion in the last financial year, the Franchise Association of South Africa (Fasa) reported on Friday. 

Latest News  by  

more

Company Article

more

Latest Videos and Audio

Ascendis launches new strategic focus, announces positive FY18 results

Africa’s metals, engineering cluster needs to do more to attract investment

Ramaphosa announces economic stimulus and recovery plan

On-The-Air (21/09/2018)

Phosa says South Africa should be ‘plotting’ a credible economic strategy

Vodacom showcases 5G capabilities in official launch

Mandela Mining Precinct to bolster mining sector

DST prioritises innovation in new draft White Paper

more

Manufacturing News

Capital Equipment

Chemicals & Pharmaceuticals

Clothing & Textiles

Food & Beverage

Foundries, Forges & Die-Casting

Furniture & Wood products

Hydraulics

Industrial Filters & Filtration

Instrumentation & Control

Manufacturing

Metals & Engineering

Paper, Plastics, Packaging, Printing

Pipes & Tubes

Pumps

Rubber

Valves

Welding & Cutting

Services News

Architecture

Business Process Outsourcing

Consulting Engineers

Corrosion Control

Education & Skills Development

Financial

Legal

Maintenance

Material Handling

Quality Assurance & Standards

Quantity Surveyors

Company Announcements

more

Research Reports

Projects

more

Press Office

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
Subscribe Now for $119 Close