http://www.engineeringnews.co.za
R/€ = 16.85 Change: -0.03
R/$ = 14.34 Change: -0.03
Au 1197.12 $/oz Change: -11.10
Pt 826.50 $/oz Change: -10.49
 

Cartoon OLD SIZE

DEAD WRONG:

By: Darlene Creamer     25th May 2012 JPMorgan Chase CE Jamie Dimon admitted last week that he had been “dead wrong” to dismiss concerns about the US bank’s trading a month before posting a $2-billion loss. Stories began circulating in April of material credit derivatives market losses. Dimon initially dismissed the concerns as a... 

DEAD WRONG:

AUSTERITY SMACK

By: Darlene Creamer     18th May 2012 Voters across Europe made it plain this month that they are more than unhappy with the austerity programmes currently being implemented by their governments to deal with the sovereign debt crisis. In France, a new ‘growth first’ President has been elected, while in the UK the fiscal conservatives... 

AUSTERITY SMACK

STILL HOARDING

By: Darlene Creamer     11th May 2012 It emerged last month that corporate deposits in South Africa exceeded R520-billion in January, as companies decided to hoard cash rather than invest, owing to weak domestic confidence and ongoing global economic uncertainty. The figure is below its peak of about R540-billion recorded in... 

STILL HOARDING

DOSING DESIGNATIONS:

By: Darlene Creamer     4th May 2012 The Department of Trade and Industry has identified a list of more than 70 pharmaceutical products that could be designated for supply from local drug manufacturers for a two-year R2.5-billion oral solid-dosage tender. The pharmaceutical designations for local procurement by the public sector... 

DOSING DESIGNATIONS:

STATISTICAL BLINDFOLDS:

By: Darlene Creamer     27th April 2012 All of us agree that the competition authorities have done a tremendous job in clamping down on anticompetitive behaviour. Their high-profile actions against the steel, construction, airline, automotive, pharmaceuticals, telecoms, petrochemicals and food sectors have certainly helped South Africa... 

STATISTICAL BLINDFOLDS:

MIND SHIFT:

By: Darlene Creamer     20th April 2012 Until a few weeks ago, all things economic seemed to be going in the right direction – despite ongoing dire warnings from certain economists. Global markets had a great first quarter, the US seemed to be growing and creating jobs, and fears about a Chinese slowdown were downplayed. Then, the news... 

MIND SHIFT:

PUNCH DRUNK:

By: Darlene Creamer     13th April 2012 When hearing that a litre of petrol was poised to rise to close to R12 from April 4, some Gauteng motorists initially thought it was a cruel April Fool’s Day joke. But it wasn’t. Some are also still hoping against hope that the e-toll project will be abandoned later in the month. For some... 

PUNCH DRUNK:

BOOK BUILDING:

By: Darlene Creamer     6th April 2012 The immediate outlook remains horrible. But one of the highlights of the recent reporting season among South Africa’s listed construction firms was the steady growth reported in orders. Much of this increase also predates some of the workflow that could arise from the R845-billion public... 

BOOK BUILDING:

BREWING INFLATION:

By: Darlene Creamer     30th March 2012 Most economists still do not believe the South African Reserve Bank will move to raise interest rates any time soon. But governor Gill Marcus has cautioned that inflation pressures are becoming more broad-based and could reflect the emergence of demand pressures. How she will balance this threat... 

BREWING INFLATION:

MUTED APPLAUSE:

By: Darlene Creamer     23rd March 2012 There is little question that Eskom and the Department of Public Enterprises put in an extraordinary effort to help moderate the power tariff increases from April 1, 2012. For their labours, they deserve genuine praise. But the price shocks over the last few years have been dramatic and there is... 

MUTED APPLAUSE:

Syrian Siege:

By: Darlene Creamer     16th March 2012 Last week, people were fleeing the Homs suburb of Baba Amr, in Syria. As they fled, they related stories of serious atrocities by the security forces. It is difficult for the claims to be verified, but tales of summary executions and the cutting of prisoners’ throats are simply too horrific to... 

Syrian Siege:

ON THE ROAD AGAIN:

By: Darlene Creamer     9th March 2012 The opposition remains as vociferous as ever. But the Gauteng e-tolling project appears to be back on the road, literally, with the South African National Roads Agency Limited having received a R5.8-billion fillip from the National Treasury, which has enabled it to reduce the tariff to 30c/km,... 

ON THE ROAD AGAIN:

Mighty Smack:

By: Darlene Creamer     2nd March 2012 Perhaps the only hitting similar in its venom to Richard Levi’s record-breaking performance in Hamilton, New Zealand, was a smack dished out by President Jacob Zuma in response to some outlandish land claim comments made by his Agriculture, Forestry and Fisheries Deputy Minister Pieter Mulder.... 

Mighty Smack:

NO EASY ROAD:

By: Darlene Creamer     24th February 2012 The emphasis given to infrastructure development by President Jacob Zuma in his State of the Nation address has been widely applauded. But Zuma and his Presidential Infrastructure Coordinating Commission have some way to go if they are to close a credibility gap that has emerged in the... 

NO EASY ROAD:

LAST NAIL, BUT . . . :

By: Darlene Creamer     17th February 2012 The African National Congress’s (ANC’s) long-awaited report into mine nationalisation may officially still be a ‘study without status’. But it most certainly can be seen as the beginning of the end for a policy proposal that would have been an ‘unmitigated disaster’ for the South African economy... 

LAST NAIL, BUT . . . :

MIND THE APP

By: Darlene Creamer     10th February 2012 In January, Apple launched its iBooks textbooks for the iPad tablet, leaving school authorities globally to consider whether or not to adopt such materials. Some South African schools have already decided to take the leap, with many of the early adopters being the more well-heeled independent... 

MIND THE APP

TURNING OFF THE TAPS

By: Darlene Creamer     3rd February 2012 Internal African National Congress politics aside, most South Africans are relieved that the National Treasury is finally taking active steps to deal with poor financial controls, fraud and corruption in Limpopo. It is unfortunate that the intervention has become politically tainted, which is why... 

TURNING OFF THE TAPS

Screeching Halt:

By: Darlene Creamer     27th January 2012 The proposed February implementation date for the controversial Gauteng e-tolling system was unceremoniously scrapped in early January by the newly appointed South African National Roads Agency Limited board. No promise was made about abandoning tolling entirely, though. Instead, the board said... 

Screeching Halt:

ENTER THE DRAGON:

By: Darlene Creamer     20th January 2012 The Chinese New Year, which will be celebrated on January 23, will herald the start of the ‘Year of the Dragon’ – one of the 12 animals featured in the Chinese zodiac. The dragon is considered especially auspicious and it is, thus, expected that many Chinese families may seek to bear a child... 

ENTER THE DRAGON:

SUNSET CLAUSE

By: Darlene Creamer     16th December 2011 As the sun sets on 2011, there is already an economic disclaimer attached to prospects for 2012 – and it’s not even in the fine print. Every newspaper, every economic commentator and just about every politician is warning that it’s going to be a tough year. The eurozone crisis will continue to... 

SUNSET CLAUSE

FEELING EMPOWERED

By: Darlene Creamer     9th December 2011 A total of 6 209 Kumba Iron Ore workers became pretax half millionaires last week, when the JSE-listed group paid out R2.7-billion as part of the first phase of an employee share ownership plan, or Esop. What is more is that all the beneficiaries are below the managerial level. The success of the... 

FEELING EMPOWERED

BLACKOUT TUESDAY

By: Darlene Creamer     2nd December 2011 There is no doubt that the Justice Portfolio Committee did some sound work in refashioning the Protection of State Information Bill into something that was almost acceptable.  

BLACKOUT TUESDAY

NATIONALISATION RIP

By: Darlene Creamer     25th November 2011 It seems the nails are finally being hammered into the mine nationalisation coffin. Not only does the proposed policy of nationalisation without compensation run counter to South Africa’s Constitution and the country’s prevailing mining legislation, but it is also hitting political and societal... 

NATIONALISATION RIP

TOLL TUSSLE

By: Darlene Creamer     18th November 2011 The fight over the implementation of the Gauteng toll roads entered a new phase last week. The Department of Transport and the South African National Roads Agency Limited (Sanral) seemed to be singing from the same hymn sheet in terms of the system going ahead. But the confusion caused by... 

TOLL TUSSLE

BUY SOUTH AFRICAN

By: Darlene Creamer     11th November 2011 Government, business, labour and community organisations signed a potentially far-reaching ‘buy local’ accord last week. An aspirational target of 75% was set for local procurement by government, State-owned entities and even business (but on a voluntary basis). Defining what exactly constitutes... 

BUY SOUTH AFRICAN

POLICY RESERVE

By: Darlene Creamer     4th November 2011 The headline from the latest Medium Term Budget Policy Statement, released by Finance Minister Pravin Gordhan last week, was the rise in the deficit to help support the economy, which had lost momentum. But there was also a strong underlying theme of wanting to rebuild a fiscal policy reserve,... 

POLICY RESERVE

NO LIFEBOAT

By: Darlene Creamer     28th October 2011 A Nedgroup Investment report estimates that corporate deposits stood at a whopping R470-billion in June. But, given the prevailing uncertainty about prospects for the domestic and the global economy, there is little chance that this cash will be deployed as part of any countercyclical stimulus... 

NO LIFEBOAT

POWER DELAY

By: Darlene Creamer     21st October 2011 Eskom confirmed last week that the first unit at its 4 800 MW Medupi power station project, in Limpopo, may not be delivered by the end of next year as planned. Whether any delay will result in the lights going off or not will depend materially on the outlook for economic growth. Should South... 

POWER DELAY

TROUBLED TIMES

By: Darlene Creamer     14th October 2011 The news flow changes from day to day and markets are reacting, mostly negatively, to the slightest hint of possible new risks. Sadly, the double-dip threat appears increasingly real and the lack of clarity from the eurozone about how it plans to prevent Greece’s woes from spreading has done... 

TROUBLED TIMES

TURNING THE TABLES

By: Darlene Creamer     7th October 2011 For years, leaders in Africa, Asia and Latin America were forced to doggedly implement painful, sometimes poisonous, structural adjustment programmes to reduce debt and improve financial management. Now it’s the turn of leaders in Europe and the US to do likewise, the African delegates to the... 

TURNING THE TABLES

GATHERING STORM

By: Darlene Creamer     30th September 2011 The eurozone debt cloud continues to hang menacingly over the world economy. Last week, the level of distress was raised another notch when Standard & Poor’s cut its unsolicited ratings on Italy, which is far larger than the highly vulnerable Greek economy. The downgrade placed yet more pressure... 

GATHERING STORM

MOVING ON

By: Darlene Creamer     23rd September 2011 South African energy group Sasol confirmed last week that it had decided to pull back from a coal-to-liquids project it had been pursuing in China together with the Shenhua Ningxia Coal Industry Group. New CEO David Constable insisted that the group was still keen on pursuing growth in the... 

MOVING ON

FALLING SAFE:

By: Darlene Creamer     16th September 2011 During the first weeks of this month, the global markets were akin to a falling safe, which nobody was prepared to catch. More worryingly, the gloom in the financial markets was also increasingly being reflected in the real economy. The fall in South African business confidence, together with... 

FALLING SAFE:

CHANGE AND PAIN

By: Darlene Creamer     9th September 2011 The political momentum, which began in Tunisia and swept through much of North Africa and the Middle East, became unstoppable in Libya towards the end of August as the rebels swept into Tripoli and as the international community began recognising the National Transitional Council. But this change... 

CHANGE AND PAIN

ECONOMIC ROLLER COASTER:

By: Darlene Creamer     2nd September 2011 Fears that the world economy is headed for a ‘double-dip recession’ have resurfaced in recent weeks. Low-growth prospects, together with high sovereign debt in Europe and the US, are weighing on sentiment and on markets. The only real beneficiary has been gold, the price of which has breached... 

ECONOMIC ROLLER COASTER:

FIGHT GOES ON:

By: Darlene Creamer     26th August 2011 The biggest squabble in town is undoubtedly the infighting within the African National Congress, the outcome of which will determine whether or not President Jacob Zuma will remain leader after the elective conference of 2012. But the second-biggest probably relates to the ongoing fight over... 

FIGHT GOES ON:

REALITY CHECK:

By: Darlene Creamer     19th August 2011 The world’s stock markets, which fell dramatically in early August, offered an outward sign of growing internal angst about prospects of a ‘double dip’ recession. But in South Africa, there is also growing concern about our future competitiveness. The power price path is out of control, logistics... 

REALITY CHECK:

BODY BLOWS:

By: Darlene Creamer     12th August 2011 African National Congress Youth League president Julius Malema has received a number of body blows over the past few weeks. First, he tried, and failed, to muzzle a City Press article delving into how he finances his lavish lifestyle. Then, his nationalisation rhetoric, which is having a damaging... 

BODY BLOWS:

Editorial Insight

more

News This Week

more

Business Leader

more

Photo of the week

more

Company Profile

more

Latest Videos and Audio

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