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Latest News

300 workers down tools at Germiston plant

24th February 2004 The National Union of Metalworkers of South Africa (Numsa) reported today that 300 of its member workers at Alstom electrical elements manufacturing company, based in Germiston, are on an eight-day protected strike. 

Farm exporters to step up pressure in WTO talks

23rd February 2004 Leading farm exporters will step up pressure on the US and Europe to kickstart stalled world trade talks by tackling issues over agriculture, Australia said on Friday. 

India, Brazil, SA set up multitrillion-dollar power bloc

By: Keith Campbell     23rd February 2004 It would be no exaggeration to describe the India, Brazil, South Africa Dialogue Forum (IBSA for short, but more popularly the G3, for Group of Three) as a significant new force in global affairs. 

SA set to launch second green court

23rd February 2004 South Africa's Minister of Environmental Affairs and Tourism, Mohammed Valli Moosa, and the Minister of Justice and Constitutional Development, Penuell Maduna, will be launching the country's second environmental court in Port Elizabeth tomorrow. 

Gas cylinders to be made from stainless-steel soon

23rd February 2004 Heavy gas cylinders for domestic and recreational use manufactured from carbon steels may soon be no more, said the South African Stainless-Steel Development Association (Sassda) on Friday. 

Seifsa hosts initiative to promote employment

23rd February 2004 The Nedlac Fund for Research into Industrial Development Growth and Equity (Fridge), that commissioned a R2-million research study in 2002 to examine the reasons for job losses in the metal and engineering industry, alongside the Steel and Engineering Industries Federation of South Africa... 

Technip to increase capacity of Total refinery

23rd February 2004 Engineering firm Technip has been awarded a turnkey contract worth €260-million to increase the conversion capacity of petrochemical company Total’s Normandy refinery, located near Le Havre, France. 

Tongaat’s earnings to be hit by rand, hedging

23rd February 2004 Annual results for South African sugar, crops and aluminium producer Tongaat-Hulett are expected to expose a firm battered by the strong rand, hedging losses and lower sugar prices. 

ABB sells Swiss building systems unit

23rd February 2004 Engineering group ABB said on Friday it had sold its Swiss building systems unit for undisclosed terms as it continued its divestment programme to cut debt and focus on core businesses. 

Environmental conference starts in Durban

23rd February 2004 The 8th World Congress on Environmental Health kicked off in Durban today as part of Environmental Health Month currently underway in South Africa. 

China lead, zinc exports capped by local demand

20th February 2004 Soaring international prices for lead and zinc have not distracted Chinese metal suppliers from their domestic market, where sales prices remain higher, smelter officials said yesterday. 

ABB sees better 2004 after steep loss, shares rise

20th February 2004 ABB said yesterday it expects to return to profit this year with better sales of robots and power systems and as cost cutting bears fruit, boosting its shares despite a steep loss in 2003. 

SA among world players in Mozambique development

20th February 2004 Mozambique is one of southern Africa’s fastest developing countries and is attracting world players in infrastructure development, as international financial institutions fund major projects – worth millions of rands – in the region, said engineering consultant SRK Consulting. 

Corobrick workers prepare for strike action

20th February 2004 Members of the National Union of Mineworkers (NUM) announced yesterday that they would embark on strike action at brick manufacturer Corobrik, in Kwazulu-Natal. 

Group Five has big African ambitions

By: Martin Czernowalow     20th February 2004 South African broad-based infrastructural firm Group Five has embarked on a drive to increase its participation in cross-border work as a means of counteracting the slump in the local mining industry. 

New group to promote Maputo Corridor

20th February 2004 The Maputo Corridor Logistics Initiative (MCLI) said yesterday that, as a new private sector group, it has taken the initiative to promote the Maputo Corridor, in Mozambique, as a ‘first choice’ transportation route, linking South Africa’s landlocked northern provinces and... 

Group Five’s restructuring underpins earnings growth

20th February 2004 Broad-based infrastructural company Group Five yesterday said that, despite a 3% decrease in revenue, to R2-billion, earnings per share increased by 13% for the six months to December 2003 – the fifth consecutive year that earnings per share have increased. 

Sasol, Petronas explore liquid fuels merger

20th February 2004 South African synthetic fuels firm Sasol said yesterday it had agreed principles on a merger with Malaysia's state-oil firm Petronas of their liquid fuels businesses. 

Wine industry probes illegal use of flavourants

By: Jill Stanford     19th February 2004 With the 2004 harvest just beginning, the South African wine industry is testing for flavourants which could be used illegally to enhance the character of Savignon blanc wines. 

EnviroServe continues with efficiency drive

19th February 2004 Waste-management group EnviroServ yesterday announced a 12% improvement in headline earnings during the six-months to December, despite what it described as a weak industrial-waste market - earnings per share rose to 17,5 cents from 15,6 cents in the corresponding period of 2002. 

Banda resigns as Eskom Enterprises CE

19th February 2004 The non-regulated-arm of State-owned electricity parastatal Eskom, Eskom Enterprises, announced yesterday the resignation of its CEO Enos Banda. 

Africa pushes bid to rescue global trade talks

19th February 2004 Efforts to rescue global free trade talks were put to the test in Africa on Wednesday when some of the world's poorest countries sought common ground with the richest. 

Many benefits will flow from LNM takeover - Iscor

By: Terence Creamer     19th February 2004 South African steel producer Iscor is optimistic that its main shareholder LNM will receive approval from the competition authorities to advance its position in the company to beyond the 50% level, but says its will review its entire consolidation strategy if the takeover bid fails. 

Nepad projects on course-Nkuhlu

19th February 2004 The revival of Africa's infrastructure and economy is fast gaining momentum with scores of new sponsored projects, especially on agriculture, science and technology, getting off the ground. 

Iscor H1 earnings tumble 65%, outlook positive

19th February 2004 South Africa's largest steel producer Iscor boosted its shares after posting a smaller-than-expected fall in half-year profits yesterday and forecasting stronger earnings in US dollar terms 

Defence spending to hit R20,3b

19th February 2004 South Africa's defence spending will increase to R20,3-billion in the 2004/05 financial year, according to figures tabled by Finance Minister Trevor Manuel during his Budget speech in the National Assembly yesterday. 

GDP expected to grow by 2,9% in 2004 – Manuel

By: Martin Czernowalow     19th February 2004 Although the exchange rate volatility remains a concern, the South African economy is in a much stronger position to take advantage of the emerging global economic recovery than it was a decade ago, Finance Minister Trevor Manuel said during his 2004 Budget Speech in Parliament yesterday. 

Provinces get a larger piece of the pie

19th February 2004 National Treasury transfers to provincial governments will increase substantially to R181,1-billion in 2004/05, up from last year's revised estimate of R161,5-billion. 

Court restructuring high priority in budget

19th February 2004 Major restructuring of courts, improving the child maintenance system and facilitating access to justice are some of the main expenses within the justice and constitutional development vote, which increases to R5,1-billion in 2004/05. 

R327bn revenue-collection target set

By: Martin Czernowalow     19th February 2004 South African Finance Minister Trevor Manuel said the country�s revenue projection for the next fiscal year is R327-billion. 

Transnet workers in solidarity strike

19th February 2004 The Gauteng region of the South African Transport and Allied Workers Union (Satawu) has reportedly called a solidarity strike of all workers at the transport parastatal Transnet today. 

$730m contract for Angolan sub-sea development

19th February 2004 Engineering company Technip, in consortium with Stolt Offshore, has reportedly been awarded a contract by petroleum group BP worth $730-million, for the development of the Greater Plutonio field, located offshore Angola in Bloc 18, between 1 200 and 1 500 m water depth. 

Manuel sets fixed-investment target at 25% of GDP

By: Steven Chiaberta     19th February 2004 Finance Minister Trevor Manuel wants the level of fixed investment in the economy to rise from its present 16% of gross domestic product (GDP) to 25%, which could assist in halving the unemployment rate by 2015. 

Level of SA-funded excess cost on FDI increased

By: Martin Czernowalow     19th February 2004 Although the level of South African funds allowed to be used by local companies to finance approved foreign direct investment will remain unchanged, Finance Minister Trevor Manuel yesterday announced an increase in the percentage of excess cost that can be funded from South Africa, from 10% to 20%. 

The Budget and HIV/Aids, health and social spending

By: Steven Chiaberta     19th February 2004 The 2004/5 Budget promises to extend and improve spending on health services, including increasing expenditure on HIV/Aids, while it simultaneously looks to progressively extend the social security system, and to pay particular attention to the needs of children. 

Further R8,9m for station refurb

19th February 2004 State-owned property managers Intersite Property Management Services (Intersite) is to spend a further R8,9-million on the second phase of the upgrade of Mabopane Station. 

Transnet confirms suspension of Metrorail execs

19th February 2004 Transnet yesterday confirmed that three Metrorail senior executives had indeed been suspended. 

Comments invited on safeguard regulations

18th February 2004 South Africa’s International Trade Administration Commission (Itac) is inviting all interested parties to comment on its draft safeguard regulations. 

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