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Latest News

Afrox sets up medical gases business

27th May 2003 Gas, welding and healthcare company, Afrox, has created a stand-alone medical gases business unit. 

SA contractors eye DRC’s big infrastructure spend

By: Martin Zhuwakinyu     27th May 2003 The Democratic Republic of Congo (DRC) is to spend about $1,7-billion on infrastructure-rehabilitaton projects over the next three years, a sizeable proportion of which South African contractors hope to clinch, given the strong emphasis on intra-Africa cooperation in the New Partnership for... 

Court bid to block nuclear reactor delayed

27th May 2003 The Pretoria High Court bid by environmental lobby group Earthlife Africa to block plans to build a peddle-bed modular reactor at Koeberg, on the Cape West Coast, was delayed once again yesterday. 

Numsa embarks on indefinite strike at Iscor

By: Martin Czernowalow     27th May 2003 The National Union of Metalworkers of South Africa (Numsa) said yesterday that close to 18 000 workers would, from today, embark on indefinite industrial strike action at steel giant Iscor. 

DBSA seeks to fill training gap with new institute

By: laurian clemence     27th May 2003 The Development Bank of Southern Africa (DBSA) is in the process of setting up a Training Institute to fill a gaping hole in local-government training throughout Sub-Saharan Africa. 

Energy Africa’s implements hedging programme

27th May 2003 Oil group Energy Africa reported a jump in yearly headline earnings yesterday and said it had implemented a hedging facility to protect it against lower crude oil prices in the future. 

IFC backs Cameroon fuel transporter

27th May 2003 The International Finance Corporation has signed an agreement to provide a $700 000 loan (€688 400) to Cameroon’s petroleum products transporter, Sodetran-Cam Sarl, to expand and upgrade the company’s fleet of fuel transportation trucks. 

ABB unfazed by latest asbestos deal delay

27th May 2003 Swiss engineer ABB said its planned $1,3-billion asbestos deal remains on track despite yet another delay in a crucial US bankruptcy court ruling that will not come before late June at the earliest. 

African oil meeting ends with pledges to reform

27th May 2003 African ministers and industry executives ended a four-day oil and gas conference in the Angolan capital Luanda last Friday with pledges to tackle corruption and improve management of oil revenues. 

SA surveillance equipment for Greece, S Korea

By: Jill Stanford     27th May 2003 THE Government’s Industrial Participation (IP) strategy has boosted Avitronic’s turnover to $16-million (about R125-million) with two additional orders for submarine electronic surveillance equipment. 

Production normal despite strike - Iscor

27th May 2003 Steel giant Iscor reports that production was running normally at all its steel plants, notwithstanding the fact that a number of Numsa members have downed tools. 

Sasol's synthetic jet fuel to gain worldwide approval by August

By: Helene Le Roux     26th May 2003 The world will soon be flying on coal. 

Numsa declares dispute with SA power utility

By: Martin Czernowalow     26th May 2003 The National Union of Metalworkers of South Africa (Numsa) last week declared a dispute, in term of the Labour Relations Act, with power utility Eskom, after the second round of wage talks between the two parties failed to yield positive results. 

Concern over privatisation of services baseless – WTO

26th May 2003 Claims by anti-globalisation groups and labour unions that current global trade negotiations will force privatisation of public services are baseless, a senior developing country envoy said last week. 

KZN to unlock agricultural potential

26th May 2003 KwaZulu-Natal premier Lionel Mtshali said his government had a programme to unlock the province's agricultural potential. 

Graft, poor governance threaten Angola's oil boom

26th May 2003 Angola's offshore oil riches will soon propel the country into the million-barrel-a-day club, but corruption and poor governance threaten billions of dollars in future investment, analysts said on Friday. 

Telkom seals wage deal with third of workers

26th May 2003 South African phone group Telkom said last week it had signed a three-year salary deal with a union representing about a third of workers, but had not reached agreement with the rest. 

Softer rand offers respite to wool prices

23rd May 2003 The rand's retreat from recent highs against the dollar eased the pressure on South African wool prices on Wednesday, market operators said. 

Algeria, Tunisia, Morocco to integrate power markets

23rd May 2003 Algeria, Tunisia and Morocco pledged on Wednesday to integrate their electricity markets, a step towards linking all power grids around the Mediterranean. 

UK business worried about over-regulation in SA

23rd May 2003 Provincial agency, the Gauteng Economic Development Agency (GEDA), has released results from a study commissioned into the attitude of UK business towards foreign investment and global regions that companies are considering for investment. 

Miller restructuring benefits will take time

By: Martin Czernowalow     23rd May 2003 Brewer SABMiller yesterday reported a solid set of financial results for the year to March 31, a period highlighted by strong organic earnings growth and expansion. 

Novel GM cotton crop to be tested in SA

23rd May 2003 An application to plant, grow and test a new type of genetically engineered cotton in South Africa has recently been lodged by a subsidiary of Monsanto Corporation, responsible for over 90% of the worlds genetically engineered (GE) crops. 

Sacu-Efta trade talks could be a prototype for US deal

By: Keith Campbell     23rd May 2003 The negotiations for a free trade agreement (FTA) between the South African Customs Union (Sacu – Botswana, Lesotho, Namibia, South Africa and Swaziland) and the European Free Trade Association (Efta – Iceland, Leichtenstein, Norway and Switzerland) mark the first time country and its... 

CSIR acquires rights to AECI technologies

23rd May 2003 The CSIR has reported that it has acquired certain intellectual property relating to AECI’s biotechnology and fine chemicals development programmes. 

Nigeria oil output hemmed in by ageing facilities

23rd May 2003 Nigeria, Africa's biggest crude oil producer, will not be able to swiftly make up for huge production losses incurred after ethnic violence due to ageing facilities, a company official said yesterday. 

Nepad support for engineering capacity project

22nd May 2003 The New Partnership for Africa’s Development (Nepad) secretariat has indicated its willingness, together with the African Development Bank, to support a capacity building initiative, in respect of the Group of African Member Associations (Gama) of the International Federation of Consulting... 

SA maize crop expected to come in at 8,9mt

22nd May 2003 South Africa will enjoy an 8,908-million tonne maize crop in 2002/03, the country's national crop estimates committee said on Tuesday, lowering its estimate for the harvest slightly from last month's figure. 

Chad oil project hits enviro snag

22nd May 2003 A $4-billion ExxonMobil Corp-led oilfield project in Chad encountered a major environmental mishap but remains on track for a mid-year startup, the company said on Tuesday. 

Datatec posts loss, sees improvement

22nd May 2003 South African networking group Datatec reported a slide to a headline loss yesterday as a firmer rand hurt foreign earnings, but said it expected its performance to improve in the medium term. 

Numsa warns of major strike action

By: laurian clemence     22nd May 2003 The stage was set yesterday for prolonged and difficult wage negotiations between the National Union of Metalworkers of South Africa (Numsa) and the Steel and Engineering Industry Federation of South Africa (Seifsa). 

California port group visits SA

22nd May 2003 Executives from the Port of Stockton in California, are participating in a trade mission to South Africa, led by port director Richard Aschieris. 

Durban sets aside R400m to revamp roads

22nd May 2003 eThekwini Municipality has announced that Durban has pumped R404-million into upgrading its ailing road infrastructure over a period of two years. 

IST wins three Eskom contracts

22nd May 2003 The power engineering division of the IST group, IST Energy, has been awarded three new Eskom Distribution National Contracts (ENCs) for the supply of complete protection schemes. 

Chapman’s Peak concession deal signed

22nd May 2003 Western Cape transport, public works and property management MEC Tasneem Essop has signed a 30-year concession deal between the department and Capstone 252 designing. 

Barloworld positions itself to weather tough-market storm

By: Martin Czernowalow     21st May 2003 International industrial brand-management company Barloworld delivered a strong performance at the operating level for the half-year to March 31, 2003, although earnings were affected by the strength of the rand. 

Bearing Man hits billion-rand turnover

21st May 2003 Southern African distributor of engineering components Bearing Man has announced that it has continued its strong earnings performance and reached over its R1-billion a year turnover target. 

BEE critical for economic growth

21st May 2003 Director-general in the department of Trade and Industry Lionel October said at the Black Economic Empowerment (BEE) conference on Tuesday that BEE in South Africa is a crucial element needed for economic growth in the country. 

Rand a double-edged sword for Spescom

21st May 2003 JSE Securities Exchange-listed multinational technology innovator Spescom yesterday said revenues for continued operations increased by 20% from R154-million to R186-million, over the corresponding period last year, for the interim period ending March 31. 

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