http://www.engineeringnews.co.za
R/€ = 14.90 Change: -0.06
R/$ = 12.17 Change: -0.04
Au 1331.72 $/oz Change: -4.73
Pt 1012.50 $/oz Change: -0.51
 

Economy News

Ramaphosa rules out IMF assistance for Eskom

By: African News Agency      30th November 2017 Deputy President Cyril Ramaphosa on Thursday emphatically ruled out International Monetary Fund (IMF) assistance for struggling State-owned power utility Eskom, saying it could cost the country in terms of sovereignty. "Eskom is a jewel of our democracy and we need to pay attention to it and we... 

Zuma approves pay hikes for public office bearers

By: African News Agency      30th November 2017 President Jacob Zuma has approved recommendations for salary increases for public office bearers, his office announced on Thursday. "After considering, amongst others, the recommendations of the Commission [for the Remuneration of Public Office-Bearers] and the performance of the economy,... 

Zuma approves pay hikes for public office bearers
President Jacob Zuma

Gordhan joins Wits School of Governance

By: Sane Dhlamini     30th November 2017 The University of the Witswatersrand (Wits) announced on Thursday that it had appointed former Minister of Finance Pravin Gordhan as a visiting professor at the Wits School of Governance, as from Friday. “He has played an integral role in South Africa’s history and we believe that his strong... 

Gordhan joins Wits School of Governance
Photo by Duane Daws
Pravin Gordhan

Academy of engineers calls for nuclear procurement halt until IRP consensus is reached

By: Terence Creamer     30th November 2017 The South African Academy of Engineering (SAAE) has called for a moratorium on the procurement of new electricity generation capacity, including nuclear power, until consensus has been reached on a new Integrated Resource Plan (IRP), which should be the outcome of “proper consultation in an open... 

Academy of engineers calls for nuclear procurement halt until IRP consensus is reached
Photo by Duane Daws
Energy Minister David Mahlobo

Ansys boosts its IP, skills to capture future business

By: Schalk Burger     29th November 2017 AltX-listed digital technology solutions company Ansys has invested in developing its intellectual property (IP) and human capital to capture new business as a result of the digitalisation of operations in the sectors in which it operates, Ansys Group CEO Teddy Daka said during a presentation of... 

Civil rights groups voice opposition to ‘rushed’ Energy Indaba

By: Megan van Wyngaardt     29th November 2017 Twenty-three South African civil rights and environmental activist groups have sent a letter to Energy Minister David Mahlobo seeking clarity on the nature and purpose of the upcoming Energy Indaba, scheduled for December 7 to 8 in Johannesburg. “It appears that the indaba will relate to the... 

Civil rights groups voice opposition to ‘rushed’ Energy Indaba

National Treasury appoints new acting Budget Office DDG

By: Megan van Wyngaardt     29th November 2017 Following Michael Sachs’ request to be transferred to other areas of public service earlier this month, the National Treasury Budget Office has appointed Ian Stuart to succeed Sachs as deputy director-general. Stuart is currently the chief director for fiscal policy in the Budget Office within... 

National Treasury appoints new acting Budget Office DDG

Molefe's R30m pension was unlawful, must pay back – DA

By: African News Agency      29th November 2017 South Africa's official opposition, the Democratic Alliance (DA) on Wednesday told the High Court in Pretoria that the R30.1-million pension granted to former Eskom CEO Brian Molefe was unlawful. "He told the whole nation and the minister [Public Enterprises ... Minister Lynne Brown] that he was... 

 Molefe's R30m pension was unlawful, must pay back – DA
Photo by Duane Daws
Former Eskom CEO Brian Molefe

Highveld agrees to Competition Commission-proposed R1m penalty

By: Creamer Media Reporter      29th November 2017 Embattled steel producer Evraz Highveld Steel has agreed to pay a R1-million administrative penalty for conduct allegedly amounting to price fixing and market allocation with ArcelorMittal South Africa (AMSA). The Competition Commission on Wednesday said it had recommended the approval of the... 

Highveld agrees to Competition Commission-proposed R1m penalty

Pretoria court to hear application for Molefe to reimburse Eskom

By: African News Agency      29th November 2017 Former Eskom CEO Brian Molefe’s court action to repay his R30.1-million pension, has been set down to be heard in Pretoria’s North Gauteng High Court for three days, starting on Wednesday. Molefe was taken to court by Solidarity, the Democratic Alliance and the Economic Freedom Fighters, which... 

Koko disciplinary hearing 'fair and transparent' - Eskom

By: African News Agency      29th November 2017 Stung by criticism, Eskom on Wednesday issued a statement declaring that it's disciplinary hearing of its suspended group executive, Matshela Koko, was being conducted in "a fair, professional, and transparent manner". The power utility said it "has noted with great concern" some media reports... 

Grid operators turning to batteries as costs fall and need for flexibility rises

By: Terence Creamer     28th November 2017 The standalone cost of battery energy storage remains above South Africa’s prevailing, albeit rising, electricity tariffs, but could already be commercially viable in some instances when the “stacked benefits” of the technology are taken into account. A levelised cost of electricity (LCOE) study... 

Grid operators turning to batteries as costs fall and need for flexibility rises
Photo by Duane Daws
Eskom's battery energy storage test site at Rosherville, in Gauteng

DTI warns large-scale job creation not as simple as it seems

By: Dylan Slater     28th November 2017 The structure of the South African economy does not allow for the creation of large numbers of jobs, nor can it support a large number of new jobs at appropriate skills levels, the ‘State of Manufacturing 2017’ report has shown. One of the major reasons for the inability to create a large number... 

AfDB launches youth advisory group to tackle joblessness

By: African News Agency      28th November 2017 The President of the African Development Bank Group (AfDB) in Côte d'Ivoire, Akinwumi Adesina, has launched the Presidential Youth Advisory Group (PYAG) to provide insights and innovative solutions for job creation for Africa’s youth. In a statement on Tuesday, AfDB said the “Jobs for Youth in... 

MPs call for Parliamentary probe into Transnet–Gupta links

By: African News Agency      28th November 2017 Members of Parliament (MPs) from across the political divide on Tuesday called for a probe into allegations of State capture at South African State-owned freight and logistics company, Transnet. Transnet group chief executive Siyabonga Gama and his team appeared before Parliament’s standing... 

Ramos hits back after Public Protector guns for ABSA

By: News24Wire      28th November 2017 ABSA CEO Maria Ramos said the bank will seek a punitive cost order if Public Protector Busisiwe Mkhwebane continues to defend the Bankorp/CIEX report. This was revealed in ABSA’s responding affidavit in the North Gauteng High Court on Monday, which accused Mkhwebane of unlawful conduct in her... 

 Ramos hits back after Public Protector guns for ABSA
ABSA CEO Maria Ramos

Rand bulls hold sway, at least until ANC's December ballot

By: News24Wire      28th November 2017 Rand bulls will win out over rand bears, at least for the next few weeks. That’s the view of analysts from Credit Agricole CIB and Toronto-Dominion Bank on the back on the rand’s best day in almost two years after Moody’s Investors Service kept South Africa’s local rating investment grade.... 

 Rand bulls hold sway, at least until ANC's December ballot

BAIC’s investment into South African vehicle assembly project bolstering bilateral investment

By: Anine Kilian     28th November 2017 Chinese vehicle manufacturer Beijing Automotive Group’s (BAIC’s) decision to invest in a vehicle assembly plant, in the Coega Industrial Development Zone (IDZ), near Port Elizabeth, could help drive further investment by Chinese firms in South Africa. This is according to South African Embassy in... 

BAIC’s investment into South African vehicle assembly project bolstering bilateral investment
BAIC D20 hatchback

Mkhwebane has abused Public Protector office – Sarb

By: News24Wire      28th November 2017 The South African Reserve Bank (Sarb) has applied for a declaratory order from the North Gauteng High Court that Advocate Busisiwe Mkhwebane abused the office of the Public Protector, and wants her to pay legal costs independently. This was revealed in Sarb’s responding affidavit on Monday, which... 

 Mkhwebane has abused Public Protector office – Sarb
Photo by Reuters
Public Protector Busisiwe Mkhwebane

Mahlobo’s call for ‘modular’ electricity roll-out at odds with nuclear ambition

By: Terence Creamer     27th November 2017 Energy Minister David Mahlobo’s latest Parliamentary reply, in which he argues that there is no longer a need to build large generation units, owing to the availability of low-cost smaller generation options, is at odds with his support for a large-scale nuclear build programme. In response to... 

Mahlobo’s call for ‘modular’ electricity roll-out at odds with nuclear ambition
Photo by Duane Daws
Energy Minister David Mahlobo

New initiative aims to create 100 000 jobs for the youth in 2018

By: Natasha Odendaal     27th November 2017 With unemployment in South Africa reaching crisis levels that further threaten an already embattled economy, a new initiative, bringing together 20 industries, aims to create at least 100 000 jobs for unemployed youth in 2018. Launched on Monday, the multisector Jobs Summit initiative aims to... 

Growing domestic demand at heart of plan to create a million manufacturing jobs 

By: Terence Creamer     24th November 2017 The Manufacturing Circle released a plan on Friday outlining how South Africa could create a million jobs over a ten-year period through pursuing a series of reforms designed at stimulating demand for South African manufactured products and improving the investment climate. The 48-page document,... 

Growing domestic demand at heart of plan to create a million manufacturing jobs
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies and Manufacturing Circle chairperson André de Ruyter

Fitch is giving South Africa a chance to address issues – National Treasury

By: African News Agency      24th November 2017 Fitch ratings agency’s decision on Thursday, to maintain South Africa’s long-term foreign and local currency debt rating at BB+ has given the country a chance to address issues in a manner that will see an upward revision in its ratings, National Treasury said. It said the reprieve could not see... 

Fitch is giving South Africa a chance to address issues – National Treasury

Hawks probing Brian Molefe's R30m pension payout claims

By: News24Wire      24th November 2017 Trade Union Solidarity announced on Thursday that it would launch legal proceedings to force former Eskom CEO Brian Molefe to repay the "unlawful" R30-million pension payout he received. "Unlawful actions must bear consequences. An apology and even pay back [from Molefe], is not enough,"... 

Hawks probing Brian Molefe's R30m pension payout claims
Photo by Duane Daws
Former Eskom CEO Brian Molefe

Support Ramaphosa and we will not see a downgrade – Gordhan

By: News24Wire      24th November 2017 Former Finance Minister Pravin Gordhan on Thursday endorsed Deputy President Cyril Ramaphosa, saying he should be given a chance to implement his "New Deal" proposal. "If we support Ramaphosa I can guarantee you we will not see a downgrade," said Gordhan. 

Support Ramaphosa and we will not see a downgrade – Gordhan
Photo by Reuters
Former Finance Minister Pravin Gordhan

Company embraces industry trends and challenges

By: Nica Schreuder     24th November 2017 The major  trend in steel construction globally is very much towards high-end automation driven by integrated software solutions, which has led to local industrial manufacturer and distributor First Cut’s embracing this trend through energy- efficient  capital equipment and consumables from their... 

Company embraces  industry trends  and challenges
TIMED INVESTMENT The Bystronic laser, a significant capital investment, is one that is best done at the downturn of the industry, or just after the upturn

Declining industry could compromise steel industry quality standards

By: Nica Schreuder     24th November 2017 Cost-cutting measures have been forced upon companies that wish to remain in business in the steel construction and cladding sector, however, this could have a major impact on product safety and performance, with price considerations often taking precedence over quality and safety.... 

Declining industry could  compromise steel industry  quality standards
DODDS PRINGLE Clients must be aware of advertised quality standards in the steel construction industry

Steel Awards 2017 confirms LSFB growth

     24th November 2017 This year’s annual Steel Awards, hosted by the Southern African Institute of Steel Construction, showed excellent growth for the South African light steel frame building (LSFB) industry, with more than 25 000 m2 represented in category entries. The awards, which took place on September 13, saw 19... 

Steel Awards 2017  confirms LSFB growth
SUMMIT PLACE The Assupol Building, the 11-storey winning office block in the Summit Place development

Steel company’s optimism fuels technology investment appetite

By: Nica Schreuder     24th November 2017 Steel supplier and processing company Allied Steelrode’s optimism regarding long-term prospects for South Africa’s economy and steel industry has prompted it to continually invest in quality steel equipment. Such an investment was made through the buying of the BLM Adige LT20 jumbo tube laser in... 

Steel company’s optimism fuels technology investment appetite
Photo by Bloomberg
TUBULAR INNOVATION The LT20 creates new possibilities and innovation for architects and structural designers

More than 600 students register for renowned trade qualifications

By: Nadine James     24th November 2017 Witbank-based artisan training facility the Colliery Training College (CTC) has received a significant number of registrations for trade and mining qualifications. CTC MD Johan Venter says more than 600 students registered on September 18, with classes having started on September 20. 

More than 600 students register for renowned trade qualifications
MULTIFACETED The facility offers training for trades such as electricians, fitters, millwrights, welders, rigger-ropesman, miners and mineral processing plant operators

Active pharmaceutical ingredients pilot plant marks important step for SA industry

By: Keith Campbell     24th November 2017 A pilot plant for the manufacture of generic active pharmaceutical ingredients (APIs) has been officially opened in Pretoria. A R50-million joint project between local company CPT Pharma (CPT standing for Chemical Process Technologies), the Industrial Development Corporation (IDC) and the... 

Modest recovery in South African commercial aviation activity consolidated

By: Keith Campbell     24th November 2017 The Commercial Aviation Association of Southern Africa (Caasa) has reported that its Aviation Activity Index (Caai) for the third quarter of this year had “consolidated its modest recovery from a disappointing first quarter”. The Caai is a composite index created to provide an indicator of... 

Tax, spend, squander provide toxic backdrop for nuclear plans

By: Keith Campbell     24th November 2017 On November 7, France ran out of money. Or, rather, France ran out of its own money; that is, it ran out of all the money the French State had gathered in taxes and other imposts. Between November 7 and December 31, the French State is running on borrowed money. This fascinating calculation was... 

Microgrids add new arrow to Africa’s electricity access quiver

By: Mia Breytenbach     24th November 2017 The launch of a R25-million solar energy, lithium-ion battery storage microgrid on Robben Island – the World Heritage Site in Table Bay, Cape Town, which, until recently, relied on diesel to generate electricity – not only showcases the versatile advantages of microgrid technology, but also... 

Microgrids add new arrow to Africa’s electricity access quiver

GirlCode floats ambitions of becoming world’s largest women's digital agency

By: Dylan Slater     23rd November 2017 Nonprofit organisation (NPO) GirlCode, which aims to empower women in the technology sector, on Thursday revealed its new programmes for 2018, as well as its Vision 2030 ambitions, which includes reaching ten-million women by 2030. GirlCode chairperson Zandile Keebine commented that reaching that... 

AMSA welcomes designation of local steel for rail sector  

By: Creamer Media Reporter      23rd November 2017 ArcelorMittal South Africa (AMSA) on Thursday welcomed the latest designations by the Department of Trade and Industry (DTI) of the local content threshold for local production and content in the rail permanent way sector. A permanent way is the structure, comprising the rails, fasteners,... 

What is next for Zimbabwe? 

     23rd November 2017 As Zimbabwe enters the post-Mugabe era, Creamer Media Senior Deputy Editor Martin Zhuwakinyu tells Creamer Media’s Chanel de Bruyn more about Zimbabwe’s new interim President Emmerson Mnangagwa and what changes he may implement to reignite economic growth in the country. 

What is next for Zimbabwe?
What is next for Zimbabwe?

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