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Latest News

Syria-Cyprus gas link depends on Mideast pipeline

     16th October 2002 Cyprus's decision to build a gas pipeline to bring gas from Syria could depend on whether a much larger $1-billion grid linking Syria to gas producer Egypt will be completed, a government source said on Monday. 

Software empowerment deal announced

     16th October 2002 Electronics firm and part of Spescom group, Leseding Electronics Investments, has, in conjunction with Spescom Software (UK), announced a deal that will see the eB document management software suite distributed in South Africa by black economic empowerment (BEE) company TSS (Tactical Software... 

Centre established to tackle money laundering

     16th October 2002 The new Financial Intelligence Centre Act (FICA) addresses money laundering head-on for the first time in South Africa. 

SA to provide training solutions to Angolan telecoms firm

     16th October 2002 Several members of Telkom SA's Centre for Learning and Organisational Capacity (CFL & OC) Division are currently in Luanda to assess the training and development requirements of Angola Telecom, following a Memorandum of Understanding (MoU) signed by both parties in August this year to pave the... 

Industrial group to sell auto finance unit

     16th October 2002 South African diversified industrial group Barloworld said yesterday it would sell its motor vehicle finance book to Wesbank, for around R830-million ($79,6-million). 

Work begins at Coega

     16th October 2002 Site preparation for the construction of the Coega port in the Eastern Cape has started, with actual construction expected to commence next year. 

Angola says new refinery work on schedule

     15th October 2002 Angola's government-owned oil firm Sonangol said on Sunday that work on its $3,6-billion 200 000-barrels-a-day oil refinery in Lobito was on course and construction would start on schedule early next year. 

Aid irrelevant unless rich countries cut subsidies – World Bank

     15th October 2002 Efforts by institutions such as the World Bank to tackle poverty are irrelevant unless wealthy countries cut farm subsidies, Agence France-Presse and Lib 

Abalone exemption issued to subsistence fishers

     15th October 2002 The South African Government has announced that it will issue the first abalone exemptions to subsistence fishers in the Eastern Cape this week. 

SA oil explorer in growth phase

By: Martin Czernowalow     15th October 2002 South African-based international oil and gas exploration and production company, Energy Africa, which is listed on the Johannesburg and Luxembourg Stock Exchanges, reports an increase in cash flows to $61-million and increased average production to 22 540 bpd, in its interim annual report. 

Chemical group sells food-additives firm

     15th October 2002 Chemical group AECI has announced that it has concluded an agreement in terms of which it has sold its subsidiary, AECI Aroma and Fine Chemicals (AAFC) to a consortium comprising certain of the management of AAFC and Business Partners Limited. 

Technology group shows growth in tough market

By: Martin Czernowalow     15th October 2002 Electronics firm Altron Group – now transformed from an investment holding company to an operating company as a result of the acquisition of the Fintech and Powertech minorities – has shown continued strong resilience to challenging local and international trading conditions with good... 

SA group in Red Sea resort deal

     15th October 2002 Kuwait's Kharafi Group said last Friday it had signed contracts with Sun International for the South African company to hold shares and help manage a multi-million dollar resort project on Egypt's Red Sea coast. 

133 abalone permits issued to subsistence fishers

     15th October 2002 The South African Government today launched National Marine Week in Hamburg in the Eastern Cape, issuing more than 130 abalone exemptions to subsistence fishers and launching the first South African Fisheries transformation milestone report. 

SA well placed to attract job-intensive investment

     15th October 2002 Government representatives, big business from South Africa and abroad, as well as members of the International Investment Council (IIC) commended the progress made in the country's marketing strategy and gave further suggestions for sharpening the marketing message. 

SA firm to produce AIDS drug

     15th October 2002 The South African arm of drugs giant Boehringer Ingelheim said today it had granted a licence to a South African pharmaceutical firm to allow it to produce, distribute and sell the antiretroviral drug nevirapine. 

Rocky times for SA's nuclear pebble

By: Keith Campbell     14th October 2002 The end of this year will mark a crucial point in the history of South Africa's innovative pebble-bed modular reactor (PBMR) nuclear power plant project, for it is then that the partners in the programme will decide whether or not to move on to the next phase of the project, Engineering News can... 

Funds set aside for ‘backyard’ farming

     14th October 2002 The KwaZulu-Natal Department of Agriculture and Environmental Affairs has made available R1-million for a Backyard Farming Campaign and challenges the private sector and donor agencies to match it. 

Construction tender activity picks up

     14th October 2002 The South African civil engineering industry has continued to expand in the second quarter, supporting views that the sector has embarked on a longer-term growth period. 

French oil major denies interest in Peru gas project

     14th October 2002 French oil major TotalFinaElf last week denied it was interested in taking a stake in Peru's Camisea natural gas project at present, despite earlier comments from a representative of the company in Peru that it was in talks with Argentina's Pluspetrol to do so. 

US auto firms to jointly develop new transmission

     14th October 2002 US carmakers General Motors and Ford Motor Company said last week they will join forces in an unprecedented alliance to develop a new 6-speed transmission, saving millions of dollars in costs. 

African pulp and paper week attracts interest

     14th October 2002 Every two years the world joins the local pulp and paper industry for its African Pulp and Paper Week conference and exhibition, which was held in Durban between October 8 and 10 this year. 

Name change for cellular group

     14th October 2002 It was announced last week that the M-Cell Limited name change to MTN Group Limited is effective from today. 

Millers urge SA to speed maize tariff cuts

     14th October 2002 South Africa's National Chamber of Milling urged the government last week to remove import duty on maize – and quickly. 

Moosa calls on Africa to support SA’s ivory stockpile sales 

     14th October 2002 A strong plea was made to the business and diplomatic community in Botswana last week, by Mohammed Valli Moosa, South African Minister of Environmental Affairs and Tourism, to support South Africa's proposal to CITES (Convention on International Trade of Endangered Species of Wild Fauna and Flora). 

Steel price surge endangering fastener exports

By: nkolola halwindi     11th October 2002 The escalating price of steel, with an about 42% increase in just nine months, has not only increased the cost of production, but has also resulted in the cancellation of some export deals, laments Nedschroef Johannesburg MD Peter Swanson. 

Engineering privatisation moves ahead

By: Deborah Spicer     11th October 2002 Binding offers for a 26% share in Eskom Enterprises-owned engineering firm Roshcon were expected to be received on September 25, following the receipt of eight non-binding offers on July 24. 

Further rates hike will hurt building sector - report

     11th October 2002 An analysis of the latest official statistics pertaining to overall building activity indicates that real growth in the industry is slowing. 

New chemical engineering facility for UCT

     11th October 2002 Work has begun on a multi-million rand project to construct a new building to house the University of Cape Town’s (UCT) renowned Chemical Engineering department. 

Malaysian offer for oil group ‘too low’

     11th October 2002 South African oil group Energy Africa put the group's value at R72,51 a share yesterday, which it said was a 66 percent premium to an offer to shareholders by Malaysia's state-run Petronas. 

State intervenes to curb food price increases

     11th October 2002 Government has announced various interventions to alleviate the impact of high food prices on the lives of all South Africans, especially the poor. 

Tanzania approves $20m SAA purchase

     11th October 2002 Tanzania's government said it has approved a $20 million bid by South African Airways (SAA) for 49% of state-owned Air Tanzania Corporation. 

Bill aims to ensure integrated planning in Gauteng

     11th October 2002 The Department of Development Planning and Local Government has finalised the Gauteng Planning and Development Bill. 

US bank backs Nigerian gas project

     10th October 2002 The Nigerian Liquefied Natural Gas (NLNG) company has secured a $135-million guarantee from the US Export-Import Bank to procure American equipment for its expansion programme, an official statement said on Tuesday. 

EU’s African fishing policy slammed

     10th October 2002 Conservation group WWF International slammed the European Union on Tuesday for buying fishing rights from poor African countries like Angola, saying it was depleting stocks vital to poor coastal communities. 

Construction group in R150m fundraising

     10th October 2002 South African construction group Aveng said on Wednesday it had raised R150-million through a three-month commercial paper issue, as part of its programme to diversify its funding source. 

Triple-B rating for power utility's bonds

     10th October 2002 Standard & Poor's Ratings Services said today it assigned its triple-'B'-minus long-term senior secured debt rating to the South African electricity utility Eskom's EUR200-million bonds due 2005. 

SA to sign trade deal with Slovakia

     10th October 2002 The South African Deputy Minister of Trade and Industry, Lindiwe Hendricks, led a business delegation to Slovakia and concluded negotiations on a trade agreement between South Africa and Slovakia. 

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