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Latest News

New economy cynics speak out

19th October 2001 The strong productivity gains of the late 1990s were concentrated in only 30% of the private sector and are likely to be whittled away in the coming months and years, according to a study released yesterday by McKinsey & Company, the consulting firm. 

Telecoms law text finalised

19th October 2001 South African legislators finalised the text of a telecoms law that will set the stage for the listing of state-run Telkom, but which critics said pulled the plug on plans to licence a rival phone firm next year. 

SA may borrow R10bn if privatisation falters

18th October 2001 South Africa should achieve economic growth of 2,5% to 3% this fiscal year, higher than analysts’ forecasts, after buoyant growth in exports, Deputy Finance Minister Mandisi Mpahlwa said. 

Mobile network launched in Nigeria

18th October 2001 State-run telecoms company Nitel launched Nigeria’s third GSM digital cellular phone network with an initial 5 000 lines and a pledge to connect 120 000 lines by December. 

R2,2bn grant for water projects

18th October 2001 The Eastern Cape, KwaZulu-Natal and the Northern Province are set to benefit from a R2,2-billion grant for the improvement of water services over the next three years, reports Bua News. 

Call on investment to participate in SA's first heritage site

18th October 2001 International and local investors have been scuba diving, going on safari, whale watching and exploring the cultural riches of Maputaland as the Greater St Lucia Wetland Park Authority in KwaZulu-Natal pulls out all the stops to mobilise millions of Rands in investment. 

Ports concessioning edges closer

18th October 2001 The promotion of private sector involvement in South African harbours, especially in operations, is a key objective of the National Department of Transport’s new Draft White Paper on National Commercial Ports Policy, which was drafted in line with the recommendations of the White Paper on... 

Telkom listing ‘technically ready’

17th October 2001 South Africa was ‘technically ready’ to list part of phone utility Telkom this fiscal year, but market conditions would decide the exact timing of the privatisation move, a senior official said. 

Strong support for WTO talks

17th October 2001 After two days of talks attended by 22 trade ministers from the EU, the US, Japan, Qatar and other countries in Singapore, WTO officials said progress has been made towards agreement to launch a new world trade round, still to be held in Doha, Qatar, from November 9 to 13, reports Le Figaro. 

Consulting confidence on the rise

17th October 2001 The consulting engineering industry has performed better than expected in the first six months of this year, with fee income rising and the confidence index up. However, burning issues remain which can have a negative effect on an industry still under pressure. 

Telecoms Bill to be finalised today

17th October 2001 The South African parliamentary committee on communications failed to finalise the Telecommunications Amendment Bill as planned on Tuesday, but its chairperson said the revised draft would be completed today. 

Hillside smelter strike looms

17th October 2001 The National Union of Metalworkers of South Africa (Numsa) said its members would embark on solidarity industrial action at BHP Billiton’s Bayside and Hillside aluminium smelters from Thursday. 

Dumping cases dropped against SA steel

17th October 2001 South African steel producer Iscor has successfully defended itself against anti-dumping charges in both the United States and Canada. 

Nobel economic prize winner calls for fair world trade

16th October 2001 Nobel Economics laureate Joseph Stiglitz delivered a stinging rebuke of US and European measures to cut trade barriers in areas that help only themselves, reports AFP. 

SA TMT firm eyes two acquisitions

By: Terence Creamer     16th October 2001 Telecoms, multimedia and technology (TMT) group, Altech, is investigating two separate acquisition targets in the telecoms and multimedia industries. 

US ends probe on SA steel sheets

16th October 2001 A US trade panel ended a probe into the dumping of cold-rolled sheets at unfairly traded prices against three countries – Egypt, South Africa and Venezuela – because they said imports from these countries were negligible. 

Steel tie-up talks still on despite expired exclusivity

16th October 2001 UK-based LNM Holdings said it was still interested in acquiring a stake in Iscor even though its exclusivity period for negotiations with the South African group expired on Monday. 

Flagship SDI gets State buy-in

15th October 2001 The Mpumalanga government has reaffirmed its support for the Maputo Development Corridor. 

SA at risk of losing cheapest-power status

15th October 2001 South Africa risks losing its status as one of the world’s cheapest electricity providers regardless of its plans to restructure the State-owned power utility Eskom, industry executives said. 

R233bn price-tag on 14 State assets

15th October 2001 South Africa could earn up to R182-billion rand from selling off key state assets, but the pace of privatisation remains slow, an independent consultancy said. 

Erwin seeks steel quality boost

15th October 2001 South African Trade Minister Alec Erwin said on Friday the country wanted to reduce its dependence on German steel imports and was seeking a foreign investor to boost the quality of locally produced steel. 

Debate on US energy grid heats up

12th October 2001 Utility executives and lawmakers debated the need for federal energy regulators to force US utilities to combine their electricity transmission networks. 

South African ports face a 'supermax' onslaught

12th October 2001 SA's new National Ports Authority represents a radical reform which is coming just in time to meet new challenges. 

Steel consolidation some way off

12th October 2001 While the resolution of the stalemate between mining and steel company Iscor and the Industrial Development Corporation (IDC) regarding the unbundling of the former may have raised hopes that the way has been paved for the consolidation of South Africa’s steel industry, observers caution... 

State financier in R6bn African project Safari

12th October 2001 The Industrial Development Corporation (IDC) has since 1996 pumped nearly R6-billion into a wide range of projects north of the Limpopo, underscoring its belief that Africa is a worthwhile investment destination. 

SA remains set on Telkom listing this fiscal year

12th October 2001 The South African government reiterated its commitment to the initial public offering (IPO) of telephone giant Telkom during the current fiscal year, subject to market conditions. 

UK bargains for SA steel

12th October 2001 UK-based LNM Group, the world’s number-four steel producer, is in talks to buy a stake in South African steelmaker Iscor, an LNM spokesperson said. 

World Bank disects ‘Terror Tuesday’

11th October 2001 The September 11 terrorist attacks in the US will hurt economic growth in developing countries worldwide in 2001 and 2002, condemning as many as ten- million more people to live in poverty next year, and hampering the fight against childhood diseases and malnutrition, the World Bank reports in a... 

Telecoms Bill redraft progresses

11th October 2001 On Tuesday the South African parliament began redrafting a crucial telecommunications Bill that will dismantle the State’s telephone monopoly and lay the basis for privatisation. 

SA’s TMT group has a solid year

11th October 2001 South Africa’s leading telecommunications, multimedia, information technology and power electronics corporation, Altron, reported strong revenue growth of 25,8% from R4-billion to R5-billion Headline earnings per share rose 12% from 45,8 cents to 51,3 cents for the six months to August 31... 

Trade talks in jeopardy – claim

11th October 2001 The EU and the US are locked in a bitter dispute with developing countries which could threaten the launch of a new round of global trade talks next month in Qatar, reports the Guardian. 

Russians to invest in Sudan

10th October 2001 Russian-Belarus oil firm Slavneft said it would invest $126-million in developing an oilfield in Sudan once it has signed a production-sharing agreement with the Sudanese government in January 2002. 

R250m hotel one of the biggest in Africa

10th October 2001 A former Saudi oil minister, Sheikh Yamani, is to build one of Africa’s biggest hotels in Accra. 

Transtel still after SNO stake

10th October 2001 The telecoms arm of transport parastatal Transnet, Transtel, is confident that it will participate in the second national fixed-line operator. 

R450-million upgrade on the cards at paper mill

10th October 2001 Pulp and paper giant Mondi has announced plans to upgrade one of its fine-paper machines, the PM2, and the installation of a multifuel boiler at its Merebank integrated pulp and paper mill located in Durban South. 

Steel output not hurt by protests

10th October 2001 South African steel producer Iscor said production at its Vanderbijlpark plant had not been affected by a five-hour stoppage by workers protesting its plans to split into two divisions. 

Eastern Cape moves ahead with hemp plans

9th October 2001 Hemp farming in the Eastern Cape received a significant boost when R500 000-worth of farming equipment was handed over by the Department of Agriculture. 

Hydrocarbon search offshore Morocco

9th October 2001 Morocco’s state-run Onarep office and Kerr-McGee du Maroc, an arm of US oil and gas company Kerr-McGee, signed an accord over offshore hydrocarbon research in the Western Sahara region. 

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