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Latest News

Paper group’s 2002 earnings seen down on weak prices

29th October 2002 South African paper giant Sappi is likely to report 2002 headline earnings per share (EPS) down at least 11,5%, bruised by poor prices and the global economic slowdown, analysts said yesterday. 

Canadian firm fined in Lesotho corruption case

29th October 2002 A Canadian engineering firm, embroiled in a high-profile bribery case in Lesotho, said yesterday it would appeal against a $2,2-million fine handed down by the country's high court. 

Black business still not using State incentive schemes

By: Martin Zhuwakinyu     28th October 2002 Perhaps realising that much-needed economic growth and employment creation will be driven by the private sector, the government has gone out of its way to encourage the establishment of new businesses owned by foreigners and locals alike and to support existing ones. 

Africa looks south for waste-oil solutions

28th October 2002 Over 32 delegates, from English-speaking African countries that are signatories to the Basel Convention on the Transboundary Movement of Toxic and Hazardous Waste, were hosted in Cape Town in October to prepare a plan of action for managing waste oils in Africa and their own countries. 

Stainless industry in white-goods drive

By: marisa rodrigues     28th October 2002 The local stainless-steel industry continues to be one of the fastest-growing markets in the world and it is expected that local consumption will grow from 120 000 t last year to 300 000 t by 2006 and a million tons by 2010. 

SA, India share advanced computing know-how

28th October 2002 Indian advanced computing specialists and decision-makers arrived in the country this weekend in preparation for a two-day Indo-SA Advanced Computing Workshop, staged in Pretoria. 

State to fast-track learnership programmes

28th October 2002 The Department of Public Service and Administration (DPSA) is using the government's leadership and internship programmes to train public servants in project management and to prepare graduates to enter the labour market. 

Nigeria votes to ease tension over oil cash

28th October 2002 The Nigerian senate passed a law last week giving the country's oil-producing states a share of revenues from offshore oil wells, in a move intended to defuse tension in such states over revenue sharing. 

Electricity regulator mulls tariff-increase plan

25th October 2002 The board of National Electricity Regulator (NER) meets today to consider new tariff proposals from State-owned electricity utility Eskom. 

Telecoms regulator needs urgent strengthening

By: Martin Czernowalow     25th October 2002 The Independent Communications Authority of South Africa (ICASA) is planning to adopt a proactive approach in the near future, with a view to promote stability and innovation within the local telecommunications sector. 

Delay in telecoms rival costs SA dearly – analyst

25th October 2002 Long delays in introducing a competitor to phone utility Telkom have probably cost South Africa at least R900-million ($88,4-million), a leading research house said on Wednesday. 

Anti-dumping investigations decline in first half of 2002

25th October 2002 The World Trade Organisation (WTO) Secretariat reported that in the period January 1 to June 20 this year, 17 members initiated 104 anti-dumping investigations against exports from a total of 39 different countries or customs territories. 

PCs diverted from landfill to schools

25th October 2002 The first of around 150 000 personal computers destined for landfill sites were rolled out to schools in South Africa on Wednesday, as part of efforts to make the country's children web-savvy. 

Engineering group to sell energy division

25th October 2002 Europe's biggest engineering group ABB announced fresh cost cuts yesterday and plans to sell its big oil, gas and petrochemicals division within 12 months as it fights to regain investor confidence. 

Young scientist in talks with power utility 

25th October 2002 Winner of the Catalyst Innovation Competition run by Catalyst Innovation Incubator, Acorn Technologies and Deloitte & Touche, Wernich de Villiers of Stellenbosch University, is presently in discussion with Eskom to examine the further development and assessment of his invention. 

SA firms seek opportunities in East Africa

25th October 2002 Economies of countries in East Africa have been undergoing a steady, yet almost unnoticed growth and many enterprising South African organisations have been quick to take advantage of the development, with local exports of goods and services into East Africa multiplying exponentially. 

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. 

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