http://www.engineeringnews.co.za
R/€ = 15.63 Change: -0.03
R/$ = 13.73 Change: -0.04
Au 1292.37 $/oz Change: 2.08
Pt 809.21 $/oz Change: 7.06
 

Economy News

Interim results confirm the bad state of Eskom’s financial health 

29th November 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Eskom’s interim financial results and the utility’s plans to turn its financial position around. 

Rand likely to remain volatile, says deputy SARB governor 

By: News24Wire      29th November 2018 Exchange rate forecasts for the rand remain widely dispersed, deputy governor of the SA Reserve Bank (SARB) Daniel Mminele said on Wednesday. It is likely that the rand, along with other emerging market (EM) currencies, will remain volatile, he said at the Bloomberg FX'18 event in Johannesburg. 

 Rand likely to remain volatile, says deputy SARB governor
Photo by Bloomberg
SARB deputy governor Daniel Mminele

Another Eskom equity injection mooted amid R15bn loss warning   

By: Terence Creamer     28th November 2018 South Africa’s debt-laden electricity utility Eskom is in discussions with government about yet another equity injection, as well as various possible “debt-relief” options, as part of a turnaround plan, which chairperson Jabu Mabuza insists needs to be implemented immediately if the company is to... 

Another Eskom equity injection mooted amid R15bn loss warning
Eskom chairperson Jabu Mabuza on the utility's dire financial position and the board's proposed turnaround plan. Camera Work & Editing: Nicholas Boyd. 28.11.18

'Debt-driven' Eskom not ruling out load shedding for remainder of year

By: News24Wire      28th November 2018 Weak financial ratios, reduced generation performance and low coal stock levels have again raised the spectre of load shedding for power utility Eskom. Announcing the interim financial results for the six months ended September 30, CEO Phakamani Hadebe warned that although liquidity had improved,... 

 'Debt-driven' Eskom not ruling out load shedding for remainder of year

AA predicts massive drop in petrol price in December 

By: News24Wire      28th November 2018 Motorists can expect a R1.85 reduction per litre in the price of petrol, with diesel coming down by an estimated R1.40, and illuminating paraffin dropping by R1.28, the Automobile Association (AA) predicted on Wednesday. The association was commenting on unaudited month-end fuel price data... 

 AA predicts massive drop in petrol price in December

Department of Energy to review how it costs basic fuel price 

By: News24Wire      28th November 2018 The department of energy has invited public comments on how it calculates the underlying prices of fuel, diesel and illuminating paraffin, known as the Basic Fuel Price (BFP). This is the price of fuel before taxes, transport, and other costs are added.  

 Department of Energy to review how it costs basic fuel price

Parly committee adopts Eskom inquiry report, recommends top executives testify before Zondo

By: News24Wire      28th November 2018 Parliament’s portfolio committee on public enterprises has adopted its final report into allegations of State capture at Eskom and Transnet, which recommends that some of power utility's former board chairs and top executives be requested to appear before the ongoing judicial commission of... 

Parly committee adopts Eskom inquiry report, recommends top executives testify before Zondo

Ramatlhodi to testify at Zondo commission of inquiry

By: News24Wire      28th November 2018 Former Mineral Resources Minister Ngoako Ramatlhodi will be the fourth minister who served under former president Jacob Zuma to appear before the Zondo commission of inquiry into state capture on Wednesday. News24 understands Ramatlhodi and his former adviser and spokesperson advocate Mahlodi... 

Nema to ensure mines are held accountable, adhere to legal duties – law firm

By: Simone Liedtke     27th November 2018 The gazetting of the overhauled National Environment Management Act (Nema) will ensure more mines are held accountable and meet their obligations in terms of financial provisioning for environmental rehabilitation, says law firm Webber Wentzel environment and natural resources partner Garyn... 

Nema to ensure mines are held accountable, adhere to legal duties – law firm
Webber Wentzel environment and natural resources partner Garyn Rapson

Ramaphosa grants Sars inquiry two-week extension for final report

By: News24Wire      27th November 2018 President Cyril Ramaphosa has granted the Nugent Commission of Inquiry a two-week extension to file its final report on the state of tax administration and governance at the South African Revenue Service (Sars).  The commission, which was established in May and is chaired by retired judge Robert... 

 Ramaphosa grants Sars inquiry two-week extension for final report

SA still top FDI destination in Africa, but 2017 shows a decline – Brand SA

By: African News Agency      27th November 2018 A recent Ernst & Young (EY) survey shows South Africa has retained its position as the top foreign direct investment  destination in Africa, but Morocco has caught up with it, the country's promotion agency said on Tuesday. The 2018 EY Africa Attractiveness Survey report shows that during 2017,... 

SA still top FDI destination in Africa, but 2017 shows a decline – Brand SA

Treasury loses out on more than R1bn in VAT from drought-stricken farmers

By: News24Wire      27th November 2018 The government has lost out on more than R1-billion in VAT from drought-stricken farmers who were forced to cut production after their irrigation water from the Cape supply dams was radically reduced a year ago. Agri Western Cape CEO Carl Opperman said on Monday this was one of the facts he... 

Treasury loses out on more than R1bn in VAT from drought-stricken farmers

Business confidence falls for third straight quarter – survey

By: Reuters     27th November 2018 South African business confidence fell for the third straight quarter, a survey showed on Tuesday, as country struggles to grow in a recession-bound economy. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic Research fell to 31 points in the fourth quarter... 

SAA needs R7.5bn in working capital from next month  

By: Reuters     27th November 2018 Cash-strapped State-owned airline South African Airways (SAA) will need R7.5-billion from next month to fund day-to-day operations into 2019, a presentation by the airline showed on Tuesday. SAA, which has not generated a profit since 2011, survives on State guarantees and is regularly cited by... 

SAA needs R7.5bn in working capital from next month

African fishing communities face 'extinction' as blue economy grows – experts

By: Reuters     27th November 2018 Fishing communities along Africa's coastline are at a greater risk of extinction as countries eye oceans for tourism, industrial fishing and exploration revenue to jumpstart their "blue economies," UN experts and activists said on Monday. The continent's 38 coastal and island states have in... 

Global airline body calls on African Governments to cooperate with it

By: Rebecca Campbell     26th November 2018 The International Air Transport Association (IATA) has highlighted the benefits to Africa brought by cooperation between it and the Governments across the continent. The aim was to facilitate air connectivity across Africa that is efficient, safe and sustainable. In turn, this would ensure the... 

100 MW Kathu CSP to enter commercial operation in early 2019 

By: Creamer Media Reporter      26th November 2018 The 100 MW Kathu Solar Park concentrated solar power (CSP) plant, in the Northern Cape, has been synchronised to the national grid and the power station is expected to enter into full commercial operation in early 2019. Construction of the parabolic-trough CSP plant began in May 2016, following... 

100 MW Kathu CSP to enter commercial operation in early 2019
The 100 MW Kathu Solar Park

National Minimum Wage a ‘positive step’ towards stable labour relations in South Africa – Busa 

By: Simone Liedtke     26th November 2018 Business Unity South Africa (Busa) says the signing into law of the National Minimum Wage (NMW) Bill is a “positive step” towards stabilising South Africa’s labour relations environment and signals the country’s commitment to social reform. This is against the backdrop of South Africa’s labour... 

National Minimum Wage a ‘positive step’ towards stable labour relations in South Africa – Busa
Photo by Dylan Slater
Busa CEO Tanya Cohen

Ramaphosa signs minimum wage bill into law 

By: Reuters     26th November 2018 President Cyril Ramaphosa has signed into law the national minimum wage bill, his office said on Monday, part of efforts by the government to tackle wage inequality in Africa's most industrialised economy. The National Minimum Wage Act sets South Africa's minimum wage at R20 an hour, equal to R3... 

Ramaphosa signs minimum wage bill into law
President Cyril Ramaphosa

Following Mandela’s management style will aid in land reform – Ramaphosa 

By: News24Wire      26th November 2018 President Cyril Ramaphosa invoked the management style of Nelson Mandela on Sunday evening when speaking of how the State would manage land reform, saying the matter needed to be addressed for SA to move forward. Ramaphosa was a guest at the Gauteng Conference of the South African Jewish Board of... 

 Following Mandela’s management style will aid in land reform – Ramaphosa
President Cyril Ramaphosa

BRI a conduit for Chinese engagement, trade, development with Africa and the world 

By: Schalk Burger     23rd November 2018 The Belt and Road Initiative (BRI), which is an infrastructure development and integration initiative championed and mainly funded by China, has emerged as a conduit for translating China's growing influence into trade, development and cultural engagements and partnership with the global South.... 

MPs pledge to work with new Home Affairs minister to solve department's problems

By: African News Agency      23rd November 2018 New Home Affairs Minister Siyabonga Cwele has some tough challenges ahead of him, Parliament's oversight committee said on Friday. In a statement, the home affairs portfolio committee welcomed Cwele's appointment and said MPs were eager to work with him to solve the problems bedevilling the home... 

MPs pledge to work with new Home Affairs minister to solve department's problems
Home Affairs Minister Siyabonga Cwele

Zuma's Nene sacking cost SA 148 000 jobs, 1% of GDP 

By: News24Wire      23rd November 2018 Treasury Director-general Dondo Mogajane has told the judicial commission of inquiry into allegations of State capture that when Nhlanhla Nene was removed in 2015 there was a reduction of about R378-billion in market capitalisation on the JSE.   "Business confidence was at its lowest following... 

Zuma's Nene sacking cost SA 148 000 jobs, 1% of GDP
Former Finance Minister Nhlanhla Nene

Renergen says higher fuel prices strengthen its business case

By: Simone Liedtke     23rd November 2018 Higher fuel prices have helped to strengthen the business case for using natural gas as a cheaper alternative to more expensive liquid fuels, JSE- and ASX-listed Renergen said on Friday. Reporting on its results for the six months ended August 31, it added that pressure on corporate... 

Transnet halts Durban port berths project over tender probe  

By: Reuters     23rd November 2018 Transnet said on Friday it would stop a R7-billion ($505-million) project to deepen berths at Africa's biggest container terminal in the port city of Durban until a dispute over the awarding of a contract is resolved. Transnet, which operates nearly three-quarters of the African rail network,... 

Africa missing out on boom in Chinese tourism

By: Reuters     23rd November 2018 African countries are missing out on a boom in Asian tourism, mainly from China, and must ease visa and entry requirements to tap into a historic shift generating billions of dollars in revenue, government officials and industry leaders said. Over 97-million Chinese travelled abroad last year,... 

Africa missing out on boom in Chinese tourism

Repo rate hike will be hard-felt by consumers – financial service firm

By: African News Agency      23rd November 2018 The decision by the South African Reserve Bank to raise the repo rate will be hard-felt by consumers, most of whom are already struggling to make ends meet, a financial service provider said on Friday. South Africa's central bank on Thursday raised the benchmark repo rate by 25 basis points from... 

Repo rate hike will be hard-felt by consumers – financial service firm

Firm’s design breathes new life into industry

By: Simone Liedtke     23rd November 2018 Multidisciplinary consulting engineering firm Arup was commended for its finalist entry of the V&A Grain Silo Complex façade in the architectural category at the 2018 South African Steel Awards, held last month. The R500-million V&A Grain Silo project, once an agricultural silo for grain storage... 

Firm’s design breathes  new life into industry
CROWN JEWEL The V&A Grain Silo Complex project was once an agricultural silo for grain storage, and is now features prominently in the silo district development

Solid relations between India and South Africa good for bilateral trade and investment

By: Rebecca Campbell     23rd November 2018 South Africa and Indian already have a solid framework for strong relations, not least in the areas of trade and investment, Indian High Commissioner to South Africa (Ms) Ruchira Kamboj tells "Engineering News". "India and South Africa are old friends  and historical partners," she highlights.... 

Early days for stainless steel in cladding, construction industry

By: Simone Liedtke     23rd November 2018 The South African stainless steel in construction and cladding market is in an early developmental stage, despite many architectural projects having been completed over the past few decades, says South African Stainless Steel Development Association (Sassda) Western Cape regional manager Michel... 

Early days for stainless steel in cladding, construction industry
INTO FOCUS Stainless steel in cladding construction brings the advantages into focus

Trade wars costly to long-term construction projects

By: Simone Liedtke     23rd November 2018 Owing to the global trade war in steel prices, local manufacturers, such as local steel fabricator Fabcon, are finding it difficult to quote for long-term construction projects. “The stockholding of any steel company is dramatically reduced, as companies are unwilling to hold stock for a longer... 

Trade wars costly  to long-term construction projects
ANDREW VAN GOOL Companies are unwilling to hold stock for a longer period of time

Stimulus plan, more efficient processing to promote steel construction growth

By: Simone Liedtke     23rd November 2018 With the new stimulus plan announced under President Cyril Ramaphosa’s leadership, South Africa’s economy is poised for an upturn, which will inevitably promote growth in the steel construction sector, says cutting consumables and capital equipment distributor First Cut MD Andrew Poole. “This... 

Stimulus plan, more efficient processing to promote steel construction growth
SOLUTIONS PROVIDER First Cut supplies processing solutions, which comprise its latest-generation fribelaser solutions that cut sheet steel

Industry associations offer innovative opportunities for precast manufacturers

By: Shannon de Ryhove     23rd November 2018 Leading construction materials company AfriSam, who has been producing quality construction materials for over 80 years, strongly believes that industry bodies, such as the Concrete Manufacturers Association (CMA), have the opportunity to build the knowledge base and positively contribute towards... 

Steel construction, cladding industry demand to continue increasing

By: Simone Liedtke     23rd November 2018 The demand for steel in South Africa’s construction and cladding sector will continue to increase, owing to its myriad of applications and ease of installation, says steel gratings, stair treads, pressed floors and safety handrails manufacturer Vital Engineering technical director Glen Pringle.... 

Steel construction, cladding industry demand to continue increasing
DIVERSIFIED PRODUCT OFFERING Vital Engineering supplies various items, including stainless steel handrails, GRP products, galvanised steel gratings and stainless steel gratings

Signs of positive change in steel sector

By: Simone Liedtke     23rd November 2018 The drive to import certain quantities of steel has gained impetus during 2018, as a result of some doubts in the steel manufacturing industry about the ability of local mills to produce the required level of quality of certain products they require, steel processor and supplier Allied Steelrode... 

Signs of positive change in steel sector
WARNE RIPPON There has also more recently been a concerted effort made by the primary steel producer to improve its product quality

Cryptocurrencies gaining traction

By: Schalk Burger     23rd November 2018 Cryptocurrencies, which are blockchain-enabled and digitally encrypted representations of financial value, are gaining more prominence among the general populace and have moved beyond solely speculative assets, a survey commissioned by cryptocurrency trading platform Luno says. Luno South Africa... 

Cryptocurrencies gaining traction
MARIUS REITZ Cryptocurrencies are suitable for use in a digital economy

Ramaphosa merges Ministries in Cabinet reshuffle 

By: Sashnee Moodley     22nd November 2018 President Cyril Ramaphosa announced on Thursday in his much anticipated Cabinet reshuffle the merging of the Telecommunications and Postal Services Ministry with the Communications Ministry, under the leadership of Minister Stella Ndabeni-Abrahams. The merger will take place after the 2019... 

Ramaphosa merges Ministries in Cabinet reshuffle
President Cyril Ramaphosa

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