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Latest News

Port congestion on agenda of marine convention

25th October 2002 Representatives from all across Southern Africa are expected to attend the South African Ports, Shipping and Freight Convention that will take place at the International Convention Centre in Durban on November 27 and 28. 

R1,2bn finance package for KZN casino

25th October 2002 Various agreements have been concluded between Investec Bank and Tsogo Sun Kwazulu-Natal (Proprietary) giving effect to a financing package of R1,275-billion for the development of the Suncoast Casino and Entertainment World in Durban 

Stunning results from steel group

25th October 2002 South African steel group Iscor reported better-than-expected first-quarter results on Thursday, thanks to stronger steel prices and a fully ramped up Saldanha plant, and its shares set a year high. 

Telecoms group, unions agree on strategy

25th October 2002 South African telecommunications group, Telkom and the Alliance of Telkom Unions (ATU) have reached an agreement on Telkom's proactive alternative strategy to prevent job losses and to create new career opportunities for Telkom employees. 

Oil explorer in talks with other bidders

By: Martin Czernowalow     25th October 2002 South African oil and exploration group, Energy Africa announced last week that it was in talks with bidders who are interested in some 34,7% of the company, the only portion not held by Malaysain State-owned oil company Petronas. 

Engineering group optimistic on Gautrain involvement

By: Laura Franz     24th October 2002 Local specialist in energy and transport infrastructure Alstom SA remains hopeful that the Gauliwe Consortium, consisting of Alstom International (Alstom), Dragados Concesiones, Grinaker-LTA, Siemens and Canac, will be the winning bidder for the construction of the R7-billion Gautrain Rapid Rail... 

SA telecoms partners likely to stay after listing

24th October 2002 South African state phone company Telkom's US and Malaysian shareholders are likely to be obliged to retain their stakes for a time when the firm is part-privatised next year, a senior executive said on Tuesday. 

All sectors face BEE shake-up

24th October 2002 South Africa plans to introduce charters in all sectors of its economy mapping out plans to give blacks a bigger stake, a senior government official said on Tuesday. 

Central Karoo receives R18m for projects

24th October 2002 The Western Cape provincial government has handed over R18-million to the Central Karoo to uplift and empower people in the region. 

KZN casino construction on schedule

24th October 2002 The initial phase of Durban’s newest entertainment complex, the art-deco themed Suncoast Casino and Entertainment World, is firmly on target to open at the end of November. 

Engineering group won’t go bust – CEO

24th October 2002 European engineering group, ABB’s CEO Juergen Dormann told a Swiss newspaper that the embattled engineering group was not threatened with bankruptcy and that it did not intend to raise fresh capital for the time being. 

Salaries, wages not keeping pace with inflation

24th October 2002 Salary and wage increases are lagging inflation for the first time in a decade and the discrepancy is going to get worse before it gets better some time next year, says a leading human resources consultancy. 

Govt spending improving, but underspending continues

24th October 2002 Government departments have been given a pat on the back for significantly improving their spending capacity. Cabinet yesterday received a report on trends in expenditure across government, which included a study on under spending and unauthorised expenditure. 

Auto industry's stainless steel use growing rapidly

By: marisa rodrigues     23rd October 2002 Last year, Columbus Stainless supplied 33 000 t of stainless steel to the automotive industry, making this sector the stainless-steel industry's largest consumer. 

Nigeria extends bids deadline for steel plants

23rd October 2002 Nigeria said on Monday it had extended the deadline for international steel producers to express interest as core investors in its three inland steel rolling plants. 

Global steel body unhappy with pace of reform

23rd October 2002 The board of directors of the International Iron and Steel Institute (IISI) expressed its disappointment with the lack of progress on negotiating a subsidies code for the steel industry, when it met in Rome for an annual conference recently. 

SA petrochem firm plans to turn Chinese coal into petrol

23rd October 2002 South African fuel company Sasol is in talks with the Chinese government over a multi-billion-dollar plan to turn Central Asia's vast coal reserves into petrol and other liquid fuels, according to press reports. 

Engineering group cuts earnings target, shares plunge

23rd October 2002 European engineering group ABB hurled a fresh bombshell at hard-pressed investors on Monday, cutting its earnings targets and raising the spectre of bankruptcy at a US unit tainted by asbestos suits. 

Gauteng truck curtailment programme extended

23rd October 2002 Monday marked the beginning of the second stage of the Department of Transport’s holistic roads congestions management programme. 

Non-wage issues emerge as key strike trigger

23rd October 2002 The number of workdays lost as a result of shop floor strike action – excluding socio-economic protest action – rose from 130 000 workdays at the end of June to 890 000 workdays at the end of September 2002, according to a report. 

Resources group signs China LNG sales, purchase deals

23rd October 2002 Resources group BHP Billiton, together with the other participants in the North West Shelf Venture, recently signed sales and purchase agreements with the companies comprising the Guangdong LNG Project for the purchase and supply of liquefied natural gas (LNG), from the North West Shelf (NWS) in... 

State moves to accelerate ports restructuring

By: Terence Creamer     23rd October 2002 Government is moving to accelerate the restructuring of South Africa’s troubled ports, despite serious objections from organised labour. 

Erwin moots auto-type plan for aerospace

By: Martin Czernowalow     23rd October 2002 Speaking at the official opening of Auto Africa Expo 2002 last night, South African Minister of Trade and Industry, Alec Erwin, said the phenomenal growth of the local automotive industry should serve as an example to other sectors. 

Biotech venture fund backs medical-implant firm

23rd October 2002 South Africa's first biotechnology (biotech) venture capital fund, Bioventures, has made its third investment in a company producing medical implants that have found ready acceptance in the international market. 

SA oil group to lift Gabon crude in Nov

23rd October 2002 Petrochemical group Sasol has announced that oil production from the Etame Field, offshore southern Gabon, is exceeding expectation and the first lifting of crude oil is expected in early November. 

R230m table-grape empowerment deal

By: Terence Creamer     22nd October 2002 An innovative R230-million table-grape empowerment project is to be developed on 500 ha along the Orange River, near Upington in the Northern Cape. 

Auto showcase revs up

By: Martin Czernowalow     22nd October 2002 The Auto Africa Expo 2002, the biennial Africa International Automotive Trade Exhibition and Conference, started yesterday at the Nasrec expo centre in Johannesburg. 

Enviro green light for Gautrain

By: Martin Czernowalow     22nd October 2002 Gautrain rapid-rail link has been given the go-ahead in an environmental impact assessment (EIA). 

Three join gold miner in steel-price fight

By: Joanne Delaurentis     22nd October 2002 Three other companies have joined Harmony Gold Mining, supported by Durban Roodepoort Deep, in a case against Iscor launched with the Competition Commission. 

Mbeki signs new customs agreement

22nd October 2002 President Thabo Mbeki yesterday signed a new customs agreement with four neighbours that would open the way to fairer trade, his office said. 

OPEC may raise quota levels for Algeria, Libya

22nd October 2002 OPEC would examine Algeria's request to increase its quota to 1,1-million barrels per day (bpd) from 693 000 bpd curently when its meets on December 12, the official Algerian news agency APS said. 

Iron-ore railer wins logistics awards

22nd October 2002 Iron-ore railer Spoornet’s heavy haul unit Orex, was nominated as joint, overall winner at the 2002 Logistics Achiever Awards in Johannesburg on October 15. 

Sweden to support SA ICT sector

22nd October 2002 The Swedish and South African governments have agreed to support increased business relations and a greater exchange of experience between the two countries in the field of Information and Communication Technology (ICT). 

Productivity challenge: SA still has far to go

By: Joanne Delaurentis     21st October 2002 South Africa's overall productivity, measured as gross domestic product (GDP) per person employed, recorded the sixth-highest increase in 2001 out of 49 countries surveyed by the World Competitiveness Yearbook. 

Utility regulators form association

By: Terence Creamer     21st October 2002 An association of utility regulators was launched on Friday, in a bid to coordinate regulatory activities in key infrastructure sectors. 

Finnish navy selects SA missles

21st October 2002 The Finnish Navy has signed a multi-million rand contract with Denel’s Kentron division last week, for the supply of Umkhonto-IR surface-to-air missiles (SAMs) and associated fire control equipment. 

R1,2bn sugar mill proposed for KZN

21st October 2002 Several new investments, including a R1,2-billion sugar mill, are being considered for the Makhathini Flats, in the remote north-east of KwaZulu-Natal, according to the province’s Minister of Agriculture and Environmental Affairs, Narend Singh. 

SA a partner in global earth study

21st October 2002 From October 16 to 31, the 26 m radio telescope at Hartebeesthoek is forming part of a global network of eight radio telescopes studying the earth. 

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