http://www.engineeringnews.co.za
R/€ = 15.82 Change: 0.05
R/$ = 13.26 Change: 0.03
Au 1293.57 $/oz Change: -1.17
Pt 934.00 $/oz Change: 1.00
 

Economy News

South Africa pushes Angola to pay debt owed to airline SAA

By: Reuters     30th August 2017 South Africa will press the newly-elected Angolan government to pay R850-million it owes struggling South African Airways (SAA), the finance minister said on Tuesday. The airline runs one of Africa's biggest fleets but is loss-making. SAA is owed a total of some R1-billion in revenue earned in... 

Brown tells Eskom to come clean on Trillian in two days

By: African News Agency      29th August 2017 Public Enterprises Minister Lynne Brown on Tuesday, gave Eskom a 48-hour deadline to heed her instruction to clarify its relationship with Trillian, her spokesman said. “In June, Minister Brown requested Eskom’s board to clarify issues relating to its Trillian relationship. Following further... 

Franchise industry’s contribution to GDP grows to 13%

By: Anine Kilian     29th August 2017 The franchise industry’s contribution to gross domestic product (GDP) grew to an estimated R587-million, or 13.3% of the country’s GDP, in 2017, compared with 11.6% in 2016.  Presenting the Franchise Association of South Africa’s (Fasa’s) annual franchisor and franchisee survey results, in... 

Outa lays charges against Singh

By: Natasha Odendaal     29th August 2017 The Organisation Undoing Tax Abuse (Outa) has taken legal aim at State-owned power utility Eskom’s suspended CFO Anoj Singh following revelations that the power utility had allegedly lied about some of the payments made to Gupta-linked firm Trillian. Outa COO Ben Theron on Tuesday said charges of... 

Outa lays charges against Singh
Photo by Duane Daws
Suspended Eskom CFO Anoj Singh

More holistic view of transformation in built environment sector needed

By: Natasha Odendaal     29th August 2017 The skills pipeline in the built environment is a key enabler for transformation in the industry, with a holistic approach to tackling transformative ambitions key to breaking the barriers of the demographically skewed industry. This was one of the key messages emerging from the Council for the... 

More holistic view of transformation in built environment sector needed

Spending on new finance management system frozen – DG Mogajane

By: African News Agency      29th August 2017 Director General of Finance Dondo Mogajane on Tuesday, said he halted all payments in relation to the Internal Finance Management System earlier this month in response to dozens of adverse internal audit findings on the process. Mogajane also told Parliament’s watchdog Standing Committee on... 

South Africa's crop committee raises record maize estimate by 2.7%

By: Reuters     29th August 2017 South Africa will harvest 16.413-million tonnes of maize this season, the biggest crop on record after improved weather conditions across the maize belt boosted yields, the government's Crop Estimates Committee (CEC) said on Tuesday. The estimate is up 2.7% from the CEC's July forecast of... 

Outgoing economic counsellor sees big ‘untapped’ US-SA economic potential

By: Terence Creamer     29th August 2017 The US Embassy’s outgoing Economic Counsellor, Laird Treiber, says there has been a steady stream of American investment into South Africa during his three-year tour and that, notwithstanding the current hiatus in investment activity, economic relations are poised to expand again, owing to the... 

Outgoing economic counsellor sees big ‘untapped’ US-SA economic potential
US Embassy’s Economic Counsellor Laird Treiber

Denel makes push into Eastern Europe

By: Keith Campbell     29th August 2017 South African defence industrial group Denel has announced that it will have a strong presence at next month’s International Defence Industry Exhibition, in the city of Kielce in Poland. The exhibition is known as MSPO for short, from the initials of its name in Polish. “Eastern and Central... 

Denel makes push into Eastern Europe
Photo by Denel
The control room at Denel OTR

New home owners not liable for historical debt, ConCourt rules

By: News24Wire      29th August 2017 The Constitutional Court on Tuesday ruled that new home owners are not liable for historical debt taken over from previous owners. Municipalities such as Tshwane, eThekwini and Ekurhuleni – as well as the cooperative and governance minister - argued against a landmark high court judgment in 2016,... 

 New home owners not liable for historical debt, ConCourt rules

South Africa to emerge from recession this year, but uncertainty remains a risk

By: Natasha Odendaal     28th August 2017 While South Africa is expected to emerge from its recession this year, the persistent policy and political uncertainty remains the nation’s greatest challenge, negatively impacting on business and consumer confidence and blocking any economic growth prospects. The current deeply polarised and... 

South Africa to emerge from recession this year, but uncertainty remains a risk
Photo by Duane Daws
Raymond Parsons

New Transnet, DBSA finance scheme set up to support African rail exports

By: Terence Creamer     28th August 2017 State-owned entities Transnet and the Development Bank of Southern Africa (DBSA) have agreed to create a new facility that will extend favourable financing to African and Middle Eastern buyers of Transnet Engineering’s (TE’s) rail rolling stock and port equipment. The financing scheme will be... 

New Transnet, DBSA finance scheme set up to support African rail exports
Photo by Duane Daws
Transnet chief officer in advanced manufacturing Thamsanqa Jiyane

Gauteng residents, businesses owe Gauteng municipalities R49bn – MEC

By: News24Wire      28th August 2017 Gauteng municipalities are owed approximately R49-billion by residents and commercial customers, Finance MEC Barbara Creecy said on Sunday. A household debt of R31.8-billion, for services and taxes by residents, was the largest amount outstanding. 

Water department proposes up to 14.6% increase in raw water tariffs for 2018/19

By: Mia Breytenbach     25th August 2017 The Department of Water and Sanitation (DWS) has proposed water tariffs for the 2018/19 financial year, with a proposed increase of up to 14.6% throughout the spectrum of raw water users. The DWS proposed the increase at its final national raw water consultation, held in Boksburg, Ekurhuleni, on... 

Water department proposes up to 14.6% increase in raw water tariffs for 2018/19

Govt urged to sell loss-making SAA

By: News24Wire      25th August 2017 Government should get out of the commercial airline space and sell the loss-making South African Airways (SAA), according to Cape Chamber of Commerce and Industry president Janine Myburgh. “SAA has become a black hole that is simply consuming the resources of the country, and it would be... 

Govt urged to sell loss-making SAA

Denel exits controversial Asia joint venture

By: Keith Campbell     25th August 2017 South Africa's State-owned Denel defence industrial group has exited the Denel Asia joint venture (JV) company. This was announced on Friday by Denel acting Group CEO Zwelakhe Ntshepe, addressing a media briefing (about the company's financial results) at the group's head office in Centurion,... 

Denel exits controversial Asia joint venture
Photo by Duane Daws
Zwelakhe Ntshepe

SA has a role to play in the Middle East - Zuma

By: News24Wire      25th August 2017 South Africa can play a role in the Middle East and will help resolve conflicts there if given the opportunity, President Jacob Zuma said on Friday. “This world must be at peace with itself and I hope there will be more time to discuss the solutions,” he said while receiving letters of credence... 

SA has a role to play in the Middle East - Zuma
President Jacob Zuma

Land redistribution must go beyond populism - Jonas 

By: News24Wire      25th August 2017 Land redistribution must be a product of inclusive growth and not a response to populist calls for expropriation without compensation, former deputy finance minister Mcebisi Jonas said on Thursday. Direct redistribution of assets, such as land, could improve economic growth, but only if done... 

Land redistribution must go beyond populism - Jonas
Photo by Reuters
Former Deputy Finance Minister Mcebisi Jonas

British Trade Policy Minister again assures Southern Africa over future trade

By: Keith Campbell     25th August 2017 Following his recent trip to South Africa for talks with senior representatives of the countries of the Southern African Customs Union (SAC) – Botswana, Lesotho, Namibia, South Africa, and Swaziland – (plus Mozambique), UK Trade Policy Minister Lord Price wrote a column which was issued by the... 

Changes made to keep up with economic uncertainties

By: Victor Moolman     25th August 2017 Despite challenging economic conditions, the local food and beverage industry continues to constantly change its menus and atmosphere to fit the latest spending trends of the middle class, says Cape Town-based restaurant Strolla co-founder Brendon Crew. 

Fire risk assessments ideal to improve fire risk management

By: Simone Liedtke     25th August 2017 Fire risk assessments are the ideal way to develop and improve fire risk management, from documenting findings, categorisation of risk areas, recommendations or requirements for improvement as well as prioritisation of risk improvement measures, says the Fire Protection Association of Southern... 

Fire risk assessments ideal to improve fire risk management
Photo by Bloomberg
CRITICAL PROTECTION Fire risk assessments are critical in the protection of life, assets and in ensuring the continuity of business operations

Fire-protection equipment and ongoing maintenance provided by consultant

     25th August 2017 With the National Building Standard and Building Regulations Act stating that all buildings – including shopping centres – should meet the South African National Standards (SANS) 10400 part ‘T’ fire-protection standards requirements, fire risk management and support consultant ASP Fire supplies... 

Fire-protection equipment and ongoing maintenance provided by consultant
MICHAEL VAN NIEKERK ASP Fire has completed a number of risk assessments in shopping centres

Ghana procurement agency appoints SA-linked supply chain specialist

By: Mia Breytenbach     25th August 2017 The University of South Africa (Unisa) Graduate School of Business Leadership’s (SBL’s) first-ever professor extraordinaire for supply and value chain management in Africa Professor Douglas Boateng has been appointed independent chairperson of the Public Procurement Authority (PPA) by Ghana... 

Ghana procurement agency appoints SA-linked supply chain specialist
DOUGLAS BOATENG Procurement strategies are increasingly becoming influential in informing and ensuring successful industrialisation

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) is key to diversifying the regional economy away from its current reliance on export of raw commodities and to supporting economic growth and employment creation. There is broad acceptance that SADC... 

Infrastructure key to unlocking trade  and value chains across SADC region

South African companies urged to prepare for Brexit

By: Keith Campbell     25th August 2017 Analysts with international professional (including legal and financial) services group Herbert Smith Freehills have urged South African companies doing business with the UK to take care that their interests would be protected as Britain leaves the European Union (EU) – a process popularly known... 

Specialist still major contributor to industry

     25th August 2017 Having been a major contributor to uplifting the quality and safety standards of fire protection equipment for over 25 years, fire protection specialist Centa Group has a thorough understanding of the science of fire and is equipped with the knowledge pertaining to fire protection equipment legal... 

Specialist still major contributor to industry
SOLUTION OFFERING Solutions are custom designed to suit specific environments and include design layout, installation and maintenance

Supplier development can help create employment in South Africa

By: David Oliveira     25th August 2017 South Africa needs jobs and economic development, but with government coming under increasing pressure to reduce its wage bill and the corporate sector similarly pushing for greater efficiency in a recessionary economy, the only remaining hope for employment growth is in the small, medium-sized... 

Cape Town, New York sign city partnership agreement

By: African News Agency      24th August 2017 In a first for the African continent, the City of New York and the City of Cape Town signed a historic city-to-city partnership agreement on Wednesday to boost tourism and business between the two iconic destinations. NYC & Company President and CEO Fred Dixon and Cape Town Tourism’s CEO Enver... 

Seifsa, unions ink three-year wage agreement 

By: Natasha Odendaal     23rd August 2017 For the first time in a decade, the metals and engineering sector has settled a three-year wage agreement without resorting to industrial action, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) said on Wednesday. While none of the parties who signed the agreement are... 

Seifsa, unions ink three-year wage agreement
Photo by Duane Daws
Seifsa CEO Kaizer Nyatsumba

Tribunal hears settlement agreement involving wire cable industry association

By: Anine Kilian     23rd August 2017 The Competition Tribunal is considering a settlement agreement involving the Association of Electric Cable Manufacturers South Africa (AECMSA), which has admitted to fixing the selling price of electric power cables, largely affecting State-owned power utility Eskom, as well as large industries... 

Gordhan calls for urgency on State capture probe as Guptas dump assets

By: News24Wire      23rd August 2017 Pravin Gordhan, former finance minister and current African National Congress MP, asked Parliament on Wednesday to look into the disposal of assets by the Gupta family as part of its inquest into State capture. Although Gordhan did not mention any names, it can be assumed that he was referring to... 

 Gordhan calls for urgency on State capture probe as Guptas dump assets
Photo by Duane Daws
Former Finance Minister Pravin Gordhan

Guptas sell Tegeta to Swiss owner

By: News24Wire      23rd August 2017 Gupta-owned Oakbay Investments has sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97-billion, it announced on Wednesday. This is the second sale announced by the Guptas this week. They announced on Monday that Oakbay would sell its media assets, broadcaster ANN7 and... 

Guptas sell Tegeta to Swiss owner

ConCourt ruling opens way for Nersa to process further clawback claims – Eskom

By: Terence Creamer     22nd August 2017 The Constitutional Court has refused an application by several Eastern Cape businesses for leave to appeal a Supreme Court of Appeal (SCA) ruling relating to implementation of the Regulatory Clearing Account (RCA) mechanism in South Africa’s multiyear price determination (MYPD) electricity... 

ConCourt ruling opens way for Nersa to process further clawback claims – Eskom

Zuma signs Financial Sector Regulation Act into law 

By: African News Agency      22nd August 2017 President Jacob Zuma signed the Financial Sector Regulation Act, 2017 into law, the Presidency said on Monday. “The Act establishes two new financial sector regulators, the Financial Sector Conduct Authority and the Prudential Authority with jurisdiction over all financial institutions, and to... 

SEZ board members undertake study tour to China

By: Anine Kilian     21st August 2017 Members of South Africa’s Special Economic Zones (SEZs) Advisory Board are participating in a week-long study tour in China to learn from the Chinese experience in the planning, development and management of SEZs.   The group will gain insight into the implementation and impact of the SEZ model... 

Sasol turns to courts after Sars slaps it with tax bills worth R12.8bn 

By: Terence Creamer     21st August 2017 JSE-listed energy and chemicals group Sasol will approach the Supreme Court of Appeal (SCA) to resolve a tax dispute with the South African Revenue Service (Sars), which has slapped it with assessments for outstanding tax liabilities and penalties worth R12.8-billion. The company made a... 

Sasol turns to courts after Sars slaps it with tax bills worth R12.8bn
Sasol CFO Paul Victor on the group's tax dispute with the South African Revenue Service. Camera Work & Editing: Nicholas Boyd. Recorded: 21.8.2017

Guptas sell ANN7 and The New Age to Mzwanele Manyi  

By: News24Wire      21st August 2017 A firm owned by Mzwanele Manyi has bought Gupta-owned media units ANN7 and The New Age, it was announced on Monday. Gupta-owned Oakbay Investments said in a statement that Manyi-owned Lodidox bought ANN7 (Infinity Media) for R300-million and The New Age (TNA Media) for R150-million. 

 Guptas sell ANN7 and The New Age to Mzwanele Manyi

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