http://www.engineeringnews.co.za
R/€ = 14.65 Change: 0.16
R/$ = 12.52 Change: 0.06
Au 1292.14 $/oz Change: -0.74
Pt 901.50 $/oz Change: -0.19
 

Economy News

Standard Bank PMI drops on listeria outbreak, VAT hike

By: Simone Liedtke     4th May 2018 The Standard Bank and IHS Markit Purchasing Manager’s Index (PMI) fell to 50.4 index points in April, from 51.1 in March. While any figure greater than 50 indicates an overall improvement in conditions, the rate of growth was only marginal. 

Suspended Sars commissioner Moyane to face disciplinary charges

By: African News Agency      4th May 2018 Suspended South African Revenue Service (Sars) commissioner Tom Moyane will face disciplinary charges, President Cyril Ramaphosa's office said on Friday. The charges were served on Moyane on Thursday and relate to alleged misconduct in violation of his duties and responsibilities in terms of the... 

Suspended Sars commissioner Moyane to face disciplinary charges
Photo by Creamer Media
Suspended Sars commissioner Tom Moyane

Petroleum product suppliers settle information sharing complaint

By: Marleny Arnoldi     4th May 2018 South African petroleum product suppliers have, under a settlement agreement with the Competition Tribunal, agreed to change how they share information.  

Makhosi Khoza joins Outa 

By: Thabi Madiba     4th May 2018 The Organisation Undoing Tax Abuse (Outa) announced on Friday that former African National Congress Member of Parliament Dr Makhosi Khoza will take up the role of executive director and head of the organisation’s Local Government Programme, beginning June. Outa expanded its mandate in February... 

Makhosi Khoza joins Outa
Former ANC member of parliament Makhosi Khoza

Transnet chair resigns on eve of meeting with government 

By: African News Agency      4th May 2018 The chairperson of Transnet, Linda Mabaso, has resigned with immediate effect, Public Enterprises Minister Pravin Gordhan said on Thursday. Mabaso's resignation comes on the eve of a shareholder meeting called by Gordhan for Friday.  

UK enters financial cooperation and development partnerships with African States

By: Rebecca Campbell     4th May 2018 The Bank of England, the South African Reserve Bank, the Bank of Ghana and the Bank of Sierra Leone (the last two being their countries’ central banks) have entered into a partnership to share their expertise, improve regulation and decrease the risks of banks failing in their respective... 

UK, SA leaders hold bilateral trade talks in London

By: Rebecca Campbell     4th May 2018 South African Trade and Industry Minister Dr Rob Davies met with his British counterpart, International Trade Secretary Dr Liam Fox, on the margins of the recent Commonwealth Heads of Government Meeting in London, to discuss the bilateral trade relationship. They both expressed pleasure at the... 

Hydraulics industry on the rise

By: Paige Müller     4th May 2018 After a two-year-long hydraulic industry slump, the South African Fluid Power Association (Safpa) predicts a sustainable boom in demand for new hydraulic equipment. Safpa VP Dustin Pereira told Engineering News that the hydraulics industry has been in a slump since the last quarter of 2015. He... 

Hydraulics industry on the rise
A BRIGHTER FUTURE The hydraulics industry will enjoy a boom for five to ten years

Exclusive CEO Forum to discuss utilities transformation at AUW

By: Melissa Zisengwe     4th May 2018 CEOs from Africa will meet at the Pan-African Utility CEO Forum to discuss pertinent issues affecting the power, energy and water sectors. The Forum at African Utility Week (AUW), taking place from 15 to 17 May, is the largest of the five forums and is the meeting place for CEOs from across the... 

Exclusive CEO Forum to discuss utilities transformation at AUW
UTILITY CEOs About 40 CEOs from the continent are expected to attend the forum

Japan says economic integration will boost Africa’s investment prospects

By: Terence Creamer     3rd May 2018 The Japanese government has confirmed its support for renewed efforts across Africa towards greater economic integration, which Economy, Trade and Industry Minister Hiroshige Seko says will increase the continent’s “market value” and improve prospects for investment by Japanese companies.... 

Japan says economic integration will boost Africa’s investment prospects
Japan's Economy, Trade and Industry Minister Hiroshige Seko

Coal ‘not like buying bread’, Hadebe says as Eskom reverses policy on cost-plus mines  

By: Terence Creamer     3rd May 2018 In a major policy reversal, State-owned electricity producer Eskom is budgeting to invest in the sustenance of mines that supply coal to the utility on a cost-plus basis. During Brian Molefe’s controversial tenure as Eskom CEO, the utility became hostile to the cost-plus model, which Molefe... 

Coal ‘not like buying bread’, Hadebe says as Eskom reverses policy on cost-plus mines
Eskom acting CEO Phakamani Hadebe on what he told investors on a recent roadshow and why load-shedding is unlikely this winter. Camera Work & Editing: Darlene Creamer. Recorded: 3.5.2018

Wesgro says helps land R1.92bn in film & media productions in the Cape

By: African News Agency      3rd May 2018 Nine film and media declarations contributing R1.92-billion to Cape Town and the entire Western Cape province's economy were facilitated in the 2017/2018 financial year by the film and media promotion unit of Wesgro, the city's tourism, trade & investment promotion agency. In a statement, Wesgro... 

Guinea GDP growth surges on mining sector rebound – IMF

By: Reuters     3rd May 2018 Guinea's economy expanded by more than 8% in 2017 and is on track to grow by around 6% this year on the back of a rebound in the mining sector, the International Monetary Fund (IMF) said on Wednesday. Meanwhile, inflation in the West African country – a major producer of the aluminium ore bauxite... 

Go Life to sell 26% stake to empowerment partner

By: Simone Liedtke     3rd May 2018 Go Life International will sell 235-million shares, which represents 26% of the company’s equity, to private investment holding company Caligraph. Caligraph, which is focused largely on black economic empowerment (BEE) opportunities in South Africa, identified a unique opportunity in Go Life to... 

Seifsa encouraged by Absa PMI improvement

By: Anine Kilian     2nd May 2018 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) is encouraged by the improvement in the Absa Purchasing Managers Index (PMI) for April, released on Wednesday, with the data showing that businesses are slowly responding to a buoyant consumer, business and investor... 

WSU awards Sisa Ngebulana honorary doctoral degree in commerce

By: Simone Liedtke     2nd May 2018 South African property developer and entrepreneur Sisa Ngebulana has been recognised for his contribution to society and the national business landscape with an honorary doctoral degree in commerce, which was bestowed on him by Walter Sisulu University (WSU) at a graduation ceremony in his... 

WSU awards Sisa Ngebulana honorary doctoral degree in commerce
South African property developer and entrepreneur Sisa Ngebulana has been awarded with an honorary doctoral degree in commerce

1 000 SA youths to get healthcare skills

By: African News Agency      2nd May 2018 As many as 1 000 South African youths stand to benefit from a healthcare skills development programme in line with government's call to create opportunities for young people to gain work experience. The opportunities, which have been made available by Netcare, will be spread over a five-year period. 

 1 000 SA youths to get healthcare skills

New-vehicle sales on the rise – TransUnion

By: Simone Liedtke     2nd May 2018 New cars were back in vogue during the first quarter of the year as competitive prices driven by rand strength and lower interest rates and inflation boosted new car demand by consumers on the hunt for enhanced value, credit union TransUnion said on Wednesday. The TransUnion South African Vehicle... 

Johannesburg to launch jobs seekers database, youth artisan training – mayor

By: African News Agency      2nd May 2018 The city council in Johannesburg, which recently introduced "opportunity centres" to boost small businesses, will soon launch a database of job seekers to give residents access to temporary work opportunities on a fair and rotational basis, mayor Herman Mashaba said on Wednesday. In his annual... 

Johannesburg to launch jobs seekers database, youth artisan training – mayor
Johannesburg Mayor Herman Mashaba

Gordhan gets tough on 'largely captured' State entities

By: News24Wire      2nd May 2018 Minister of Public Enterprises Pravin Gordhan told Parliament on Wednesday that his department would hold parastatals on a much shorter leash as they recover from what he called “the phenomenon of State capture”. Among others, he said, captains of South Africa’s State-owned enterprises would have... 

 Gordhan gets tough on 'largely captured' State entities
Photo by Reuters
Public Enterprises Minister Pravin Gordhan

Absa PMI rises in April as new sales orders recover

By: Reuters     2nd May 2018 South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) rose in April, swinging back into positive terrain as new sales orders recover from a decline in the prior month, a survey showed on Wednesday. The index, which is compiled by the Bureau for Economic Research and gauges... 

South Africa views itself as ‘collateral damage’ in global trade war

By: Terence Creamer     2nd May 2018 Department of Trade and Industry (DTI) believes South Africa has become “collateral damage in the trade war of key global economies” after the country was excluded from a list of countries exempted from tariffs imposed by the US on steel and aluminium imports. While insisting that the country... 

South Africa views itself as ‘collateral damage’ in global trade war
US President Donald Trump

Ramaphosa calls for equal pay for men and women #MayDay

By: African News Agency      1st May 2018 African National Congress President Cyril Ramaphosa on Tuesday called for equal pay for men and women in South Africa. Ramaphosa was speaking at a Congress of South African Trade Unions (Cosatu) May Day Rally held at a packed Isaac Wolfson Stadium in Port Elizabeth where he was warmly received... 

Ramaphosa calls for equal pay for men and women #MayDay

Kubayi-Ngubane to unveil Mandela Mining Precinct

By: Nadine James     30th April 2018 Science and Technology Minster Mmamoloko Kubayi-Ngubane will deliver the keynote address at the launch of the Mandela Mining Precinct, a Mining Phakisa initiative aimed at reviving South Africa’s flagging mining sector, on May 4. The Mandela Mining Precinct is aimed at supporting local... 

Kubayi-Ngubane to unveil Mandela Mining Precinct
MMAMOLOKO KUBAYI-NGUBANE The minister will be joined by the Ministers of Mineral Resources, Trade and Industry and Planning, Monitoring and Evaluation

Global risks, opportunities and a new dawn for South Africa – Gordhan

By: Rebecca Campbell     30th April 2018 The global situation posed a number of risks, Public Enterprises Minister Pravin Gordhan cautioned on Monday. He was addressing the India-South Africa Business Summit. These risks include a new global financial crisis and damage to the multilateral trade regime, as well as the readiness (or lack... 

Global risks, opportunities and a new dawn for South Africa – Gordhan
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

Trade balance swings to R9.47bn surplus in March

By: Reuters     30th April 2018 South Africa's trade balance swung to a R9.47-billion surplus in March from a revised deficit of R603-million in February, data from the revenue agency showed on Monday. Exports rose by 9.2% to R98.3-billion on a month-on-month basis in March, while imports fell 2% to R88.8-billion, the South... 

South African, Indian trade ministers stress bilateral opportunities at summit

By: Rebecca Campbell     30th April 2018 India has progressed from having almost no trade with South Africa in 1994 to today being the country's sixth to eight largest trading partner, highlighted South African Trade and Industry Minister Dr Rob Davies on Monday. He was addressing the India-South African Business Summit in Sandton,... 

South African, Indian trade ministers stress bilateral opportunities at summit

Concor targets larger share of infrastructure market as part of big growth push

By: Terence Creamer     30th April 2018 Wholly black-owned construction group Concor, which marked its first year of operations in April, is aiming to materially increase its share of the public infrastructure market as part of an ambitious plan to increase its order book to R10-billion by 2020. The company, which has a Level 1... 

Concor targets larger share of infrastructure market as part of big growth push
Concor CEO Riaz Saloojee

Ramaphosa defends national minimum wage

By: African News Agency      27th April 2018 President Cyril Ramaphosa has defended the proposed national minimum wage of R20 per hour or R3 500 a month, saying that it was a victory for workers. On Wednesday, the country came to a standstill when thousands of workers joined in on the general strike organised by the South African... 

 Ramaphosa defends national minimum wage

Govt committed to accelerating land redistribution - Ramaphosa

By: African News Agency      27th April 2018 President Cyril Ramaphosa said on Friday that government was committed to accelerating land redistribution, adding that economic freedom means that the land that was taken from black South Africans needs to be returned. "We are committed to accelerate the redistribution of land, both in urban... 

Govt committed to accelerating land redistribution - Ramaphosa
South African President Cyril Ramaphosa

Unions at odds over SAA business rescue

By: Rebecca Campbell     27th April 2018 Trade union Solidarity believes that business rescue is the only way that jobs can be saved at embattled State-owned national flag-carrier South African Airways (SAA) and the company put back on a sustainable footing. This was made clear at the media briefing at the union's head office on... 

Reformist SA, French Presidents increase mutual investment attraction

By: Rebecca Campbell     27th April 2018 French companies are confident in the South African market and in its future, French Embassy Economic Counsellor William Roos assured South African journalists at a recent briefing. He pointed out that some 400 French companies had already set up business in South Africa and others are interested... 

New technology being used to immortalise Mandela in centenary coins

By: Anine Kilian     27th April 2018 The South African Mint, a subsidiary of the South African Reserve Bank, will roll out a series of three collectable and one circulation coin depicting the life of distinguished statesman and global icon, Nelson Mandela, whose centenary is being commemorated this year. A bimetallic R5 circulation... 

New technology being used to immortalise Mandela in centenary coins

Petrol going up 49c/l in May

By: News24Wire      26th April 2018 The price of petrol will increase by 49c a litre on Wednesday 2 May, Minister of Energy Jeff Radebe announced on Thursday afternoon. Diesel (0.05% Sulphur) will increase by 59c/l increase, while diesel with 0.005% Sulphur will go up 58c/l. 

 Petrol going up 49c/l in May

Wiese sues Steinhoff for $5bn

By: Reuters     26th April 2018 South African businessman Christo Wiese has launched a $5-billion lawsuit against crisis-hit Steinhoff, a retail company in which he was a board member and biggest shareholder until earlier this year, his company Titan Group said. Wiese resigned as chairperson in December last year, days after... 

New association aims to raise level of debate on energy economics in South Africa

By: Terence Creamer     26th April 2018 A new independent professional organisation was launched in Pretoria on Thursday with the aim of raising the level of research and debate on energy economics in South Africa, where policy and regulatory uncertainty remain a major constraint to investment. Named the South African Association for... 

New association aims to raise level of debate on energy economics in South Africa
Photo by Dylan Slater
SAAEE president Professor Roula Inglesi-Lotz

HMI postpones publication of provincial findings report

By: Anine Kilian     26th April 2018 The Health Market Inquiry (HMI) has postponed the publication of its provisional findings and recommendations report to May 31, to afford HMI experts sufficient time to assess and interrogate submissions raised in stakeholder responses, which were submitted in April. The report was due to be... 

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
Free daily email newsletter Register Now
Register Close