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Latest News

Shell urges 'finger pointing' of Nigerian crude

25th June 2003 Shell Nigeria, which says it is losing substantial volumes of Nigerian crude to thieves, is seeking certification or "finger printing" of Nigerian blends for easy tracking, officials said yesterday. 

Sugar industry in black empowerment talks

By: Martin Czernowalow     25th June 2003 The South African Sugar Association (Sasa) has initiated discussions within the local sugar industry on the country’s black economic empowerment (BEE) framework proposal and will support various sections within the industry, while responding to the legislation and ensuring that its own... 

US court backs ABB deal subject to more detail

25th June 2003 ABB shares were volatile yesterday after a US court mostly approved a key asbestos settlement, paving the way for an asset sale needed to cut the firm's debt, but left some unresolved loose ends. 

Sugar industry needs level playing field

By: Martin Czernowalow     25th June 2003 A more level playing field would result in higher world sugar prices, fairer trade and greater access to lucrative markets, the South African Sugar Association (Sasa) said yesterday, adding that it was optimistic about an improvement of international competitiveness within the sugar industry in... 

JSE to launch exchange for small firms

By: Martin Czernowalow     24th June 2003 The JSE Securities Exchange yesterday announced the first alternative exchange in Africa that will list small and medium growing companies. 

Europeans bid for stakes in Algerian cement plants

24th June 2003 France's Lafarge and Portugual's Cimpor on the weekend bid for 51% stakes in three medium-size Algerian cement plants up for part privatisation in a market seen expanding in coming years. 

Union concerned about fate of wheel-company workers

24th June 2003 The National Union of Metalworkers of South Africa (Numsa) yesterday claimed that close to 200 workers at Smith Wheels manufacturing company in Germiston had been locked outside the company gates. 

Air Products wins Qatar GTL contract

24th June 2003 Gas giant Air Products yesterday announced it had been selected by South African energy company Sasol and Qatar Petroleum as the nominated supplier for an oxygen facility at the Qatar gas-to-liquids (GTL) project in Qatar. 

Africa seeks new agri technology

24th June 2003 A delegation of South African educators, scientists and farmers scored a triumph during a press briefing in Washington DC yesterday, when they appealed to US policymakers to help Africa gain faster access to new agricultural technologies, including biotechnology, which the continent needed to... 

Telkom to keep tight rein on capex

By: Terence Creamer     24th June 2003 South African telecoms giant Telkom, which recently introduced a stringent capital-expenditure approval process, announced yesterday that it had slashed its fixed-line capex-to-revenue ratio to 13,5% from more than 24% in 2002, and that, even though the figure would rise in 2004, the ratio was... 

Sappi warns on Q3 earnings

24th June 2003 Global pulp and paper firm Sappi yesterday warned that third quarter earnings would be half of the previous quarter because of tough trading conditions, sending its shares skidding. 

Cell-C raises $530m for rollout

24th June 2003 South Africa's third-biggest mobile phone operator Cell-C has raised $530-million in debt and equity to finance the rollout of its GSM network, arrangers Citigroup South Africa said yesterday. 

Statoil buys BP gas stakes in Algeria

24th June 2003 Statoil ASA, Norway's biggest energy firm, said yesterday it had agreed to buy gas assets in Algeria from BP for $740-million to keep growth going as its North Sea base matures. 

Ncube makes real economy investment

By: elizabeth rebelo     23rd June 2003 The ebullient Don Ncube, one of the pioneers of investment-based black economic empowerment (BEE) in South Africa, is turning to real-economy ownership in a new phase of BEE development aimed at eventual local manufacture, Engineering News can today exclusively report. 

Past partners cloud Nigeria-Sao Tome oil sale

23rd June 2003 The tiny West African island nation of Sao Tome and Principe faces a tricky sell in its first tender for offshore oil concessions, launched together with neighbouring Nigeria, industry sources said last week. 

WTO sets up advisory group on multilateralism

23rd June 2003 World Trade Organization (WTO) director-general Supachai Panitchpakdi has established a consultative board chaired by BP’s Peter Sutherland to advise him on the challenges and opportunities confronting the organisation and the multilateral trading system. 

US to file with WTO after EU biotech talks fail

23rd June 2003 The US will ask the World Trade Organization to overturn Europe's ban on new biotech foods and other goods, claiming the policy violates global trade rules, the Bush administration said last week. 

Netanyahu says Iraq-Israel oil line not pipe-dream

23rd June 2003 Israeli Finance Minister Benjamin Netanyahu said he expects an oil pipeline from Iraq to Israel to be reopened in the near future after being closed when Israel became a state in 1948. 

Stainless body seeks to replace holloware imports

23rd June 2003 Southern Africa Stainless Steel Development Association (Sassda) has embarked on an initiative to reduce the total imports of stainless-steel hollowware into South Africa to the benefit of local manufacturers and consumers. 

Biotech fund announces fifth investment

23rd June 2003 South Africa’s biotechnology venture capital fund Bioventures last week announced that it had made a joint investment with the Industrial Development Corporation (IDC) into Synexa Life Sciences. 

Auto plastics deal concluded

23rd June 2003 Chemical products company Plastamid – a member of the Chemical Services Group – and Dow Automotive SA, a division of Dow Southern Africa, reached an agreement for the manufacture of the automotive range of Dow Polypropylene Inspire compounds, it was announced on Friday. 

Persimmon packing plant opened

23rd June 2003 Agriculture and Land Affairs Minister Thoko Didiza opened a fruit packing plant on Friday that is set to create job opportunities for the communities of Swellendam, in the Western Cape. 

SA sees 02-03 maize crop at 8,896mt

23rd June 2003 South Africa will have an 8,896 million-tonne maize crop in 2002-03, the country's national crop estimates committee said last week, lowering its estimate slightly from last month's figure. 

Competition body forces liquor firm to give up brands

20th June 2003 The South African Competition Tribunal this week ordered that Distell relinquish control of two key brands in the country’s proprietary spirits market, namely Martell and KWV. 

Trade chiefs aim to boost flagging world talks

20th June 2003 Top trade ministers meet in Egypt this weekend to give a push to global talks that have become bogged down on tough issues such as farm reform and access to life-saving medicines for poor countries. 

Firm sees Africa LNG project rivaling Trinidad

20th June 2003 Marathon Oil wants to turn its foothold in West Africa's Equatorial Guinea into one of the world's biggest natural gas production and export centers, the keystone of plans to create a top-tier gas business. 

Plans being put in place to limit Spoornet job-losses

By: laurian clemence     20th June 2003 The Department of Public Enterprises (DPE) has revealed that it is working with labour and management in a bid reduce the impact of Spoornet’s restructuring programme, which could see 8 000 jobs being cut at the rail utility over the next few years. 

Global meeting of ICT standard makers next month

20th June 2003 International information and communication technology (ICT) standards making bodies ITU has convened a summit of ICT standards-makers in San Francisco, July 24 and 25, 2003 to discuss opportunities for industry-wide effort coordination. 

Plastic bags standard to be released today

20th June 2003 The Department of Environmental Affairs and Tourism (DEAT) has announced that the SABS standard prescribing the required thickness for plastic bags used in South Africa would be published today. 

Toyota climbs auto league table

20th June 2003 Japan’s Toyota Motor Corporation is having on of the best years in its 65-year history, both in terms of sales and profits. 

MTN's earnings rocket 97%

20th June 2003 South African mobile phone operator MTN reported yesterday its full-year earnings rose by 97% and said it was confident of satisfactory future earnings growth if current market conditions persist. 

R200m Aventura privatisation deal signed

By: Martin Czernowalow     20th June 2003 The South African Department of Public Enterprises (DPE) on Friday officially signed off the sale of the remaining eight Aventura resorts to the Forever Siyonwaba Consortium, for a total of R200-million. 

IT solutions firm in BEE partnership

19th June 2003 Integrated business solutions provider M-Five Software has added black empowerment company Liquid Thought to its network of value-adding implementation partners. 

SA’s mohair prices fall at season’s end

19th June 2003 South African mohair prices fell on Tuesday at Mohair South Africa's last auction of the season, helped by a stronger rand and a larger offering. Prices were mixed although most categories fetched less than at the last sale. 

EU looks for quick end to US steel tariffs

19th June 2003 The European Union expects the US to end its controversial steel tariffs quickly if they are again ruled illegal by the World Trade Organization, a top EU official said this week. 

SA will build more large dams

19th June 2003 Government says it will build more large dams in areas of South Africa where it believes they are needed, although it has pledged to do so in a technically, environmentally and socially responsible way. 

Fakie to make arms deal submission to parliament soon

19th June 2003 Parliament's public accounts committee (Scopa) will await a special report from the Auditor General Shauket Fakie before probing allegations of editing and omission in the final report of the arms deal investigation. 

Vodacom reports solid rise in earnings

19th June 2003 Africa's top mobile phone group Vodacom posted a 17,8% rise in core annual earnings on Wednesday, driven mainly by growth in its home market, South Africa. 

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