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Latest News

Planned Angola LNG plant will find markets – officials

6th December 2002 Angolan and US officials behind a project to construct a flagship liquefied natural gas (LNG) plant in Angola said the fact that a starting date had not been fixed for production did not mean the project was in doubt. 

Strong exports performance from high-voltage firm

6th December 2002 Black economic empowerment (BEE) company, ALSTOM High Voltage Equipment has been successful in maintaining good export business over the past four years into Africa and further afield, including Australia and New Zealand. 

Consolidation moves in Internet service market

6th December 2002 As the dot-com era settles into a less frenetic and overzealous state and the global economies currently flail in the doldrums, the newly published South African Internet Services Market Report 2001-2006, produced by African ICT market research house, BMI-TechKnowledge states that this does not... 

November confidence edges levels upward

6th December 2002 The South African Chamber of Business’s (SACOB) Business Confidence Index (BCI) for November increased by one index point to 105,5 from 104,5 in October. 

Goldleaf files response to SNO bid queries

6th December 2002 Competitor for the 51% strategic equity partnership in the South African Second Network Operator (SNO), Goldleaf, has filed a response to questions raised during the public consultative process of the Independent Communications Authority of South Africa's (ICASA) adjudication of the bid competition. 

SA, India sign Antarctic deal

6th December 2002 South Africa's Minister of Environmental Affairs and Tourism, Mohammed Valli Moosa, and the Indian High Commissioner, S S Mukherjee, yesterday signed a memorandum of understanding (MOU) on Antarctic cooperation between the two countries, which aims to strengthen the good relations between South... 

Scarce seeds and tractors threaten African harvest

5th December 2002 A shortage of seeds and fertilisers could further blight southern Africa, where some 14-million people are already facing acute food shortages, regional security officials said in a report released on Tuesday. 

Peru gas project gets environment-monitoring fund

5th December 2002 The Inter-American Development Bank (IADB) will provide Peru with a $5-million loan to monitor the Camisea natural gas project being developed in the Amazon jungle, Energy and Mines Minister Jaime Quijandria said on Tuesday. 

Zimbabwe awards second fixed phone licence

5th December 2002 Zimbabwe's government has granted local firm TeleAccess a licence to operate the country's second fixed telephone network, breaking a monopoly held by the state telecommunications utility, state media reported yesterday. 

Public Enterprises confident of meeting R12bn target

By: Terence Creamer     5th December 2002 The Department of Public Enterprises (DPE) is confident it will meet the projected R12-billion restructuring-proceeds target set for 2002, with several restructuring deals still set to take place before the end of the fiscal year. 

Core Dorbyl divisions show 39% turnover growth

5th December 2002 South African manufacturing and trading company, the Dorbyl Group, reported a 21% decline in turnover for the six-month period to September 2002 yesterday, when it released its financial results – mainly due to the disposal of several divisions. 

Prism, Altech terminate acquisition talks

5th December 2002 Secure electronic payments company, Prism Holdings, and Allied Technologies (Altech) have terminated discussions that would have resulted in Altech acquiring Prism TranSwitch Services (PTSS) for R47-million in cash. 

LNM claims $175m Iscor offer will benefit auto industry

By: Terence Creamer     4th December 2002 The world’s second-largest steel producer LNM – which yesterday made a $175-million offer for 12,19% of Iscor’s share capital – says the deal will ensure a greater level of access by Iscor to its latest-generation steel making technology, which will be of particular... 

SA company helps Jordan develop new tank turret

4th December 2002 South Africa’s IST Dynamics, the division of the IST group of Pretoria responsible for developing embedded software products for the international defence industry, is assisting Jordan’s King Abdullah II Design and Development Bureau (KADDB) in the development of a new gun turret for... 

Freedom Park awaits Gauteng approval

By: Martin Czernowalow     4th December 2002 To mark the 10th anniversary of democracy in South Africa, the government will, by April 2004, complete the first phase of a multi-million rand tourist attraction in Pretoria – one that is to serve as a tangible record of the country’s historical heritage, as well as a symbol of hope... 

Telkom offer open to all South Africans – govt

4th December 2002 In order to provide greater clarity regarding the South African government’s offer of Telkom shares, government yesterday reiterated its view that all South Africans are eligible to register for the Telkom share offer. 

SA firm wins in Tanzania bank project

4th December 2002 South African construction company, Group Five has been awarded a construction contract in excess of $70-million for the Bank of Tanzania in Dar es Salaam. 

SA’s first gas filling station for Cape Town

4th December 2002 A black economic empowerment (BEE) company, based in Cape Town, will launch its first gas filling station at on December 8, 2002. 

Electricity vending goes wireless

4th December 2002 Global vending company, Actaris, has moved to a wireless vending solution running on MTN South Africa's MTNdataLive (GPRS) and the company expects to reduce its transaction costs by almost 80%, while increasing efficiency through real-time exchanges. 

First commercial fuel-cell cars hit streets of Japan

4th December 2002 Automotive giant, Toyota Motor Corporation (TMC), of Japan, announced that the Toyota FCHV has become the first-ever market-ready fuel-cell vehicle to be certified by Japan’s Ministry of Land, Infrastructure and Transport. 

Portugal meeting fails to break Cahora Bassa deadlock

By: Martin Zhuwakinyu     3rd December 2002 A top-level meeting held in Portugal last week failed to break the tariff impasse between Hidroel 

SNO delay will cost R900m – report

3rd December 2002 According to the latest research conducted by African ICT research house, BMI-TechKnowledge (BMI-T), South Africans will end up forking out around R900-million in lost savings due to the relentless delaying of the second network operator (SNO). 

R15m fibre expansion announced

3rd December 2002 Provider of Internet and virtual private network services, MTN Network Solutions (MTNNS), will invest R15-million in fibre optic cable over the next three years – making it one of South Africa's three largest independent suppliers of this high bandwidth technology. 

Morocco’s oil stocks can cover 80 days

3rd December 2002 Morocco's strategic stocks of oil products can cover 80 days of domestic needs, Energy Minister Boutaleb said last week. 

Sao Tome sees Nigeria oil as purchase, not gift

3rd December 2002 Sao Tome e Principe wants to buy oil from Nigeria to help settle a squabble holding up joint development of a potentially lucrative oil zone, the country's president said last week. 

Big Asian telecoms expo to showcase trends

3rd December 2002 Asia-Pacific is home to more than one-third of all of the telecommunication users worldwide, up from 20% a decade ago. 

Three new projects get Sip incentive

3rd December 2002 The South African Department of Trade and Tndustry (DTI) yesterday announced the names of the three new recipients of its industrial investment allowance under the Strategic Industrial Projects (SIP) programme. 

Sasol plans NY listing in April 2003

3rd December 2002 South African synthetic fuels producer Sasol said yesterday its long-awaited secondary listing on the New York Stock Exchange was scheduled for April. 

Toyota's Bert Wessels dies suddenly

3rd December 2002 Bert Wessels, executive chairperson of Toyota South Africa, died suddenly last night of an aneurism near the heart. 

Component maker warns on SA raw material prices

By: Helene Le Roux     2nd December 2002 After a presence of more than half a century the South African-bred automotive component manufacturer with global standing, Bosal, is reaffirming its commitment to the country by investing in its local operations – with one big caution: keep your raw material prices right. 

Denel awarded new SA army contract

2nd December 2002 South Africa’s State-owned defence industrial group, Denel has confirmed that it has been awarded a significant contract for the Local Warning Segment (LWS) of the Ground Based Air Defence System (GBADS) for the South African Army. 

Bank to invest R28m in Joburg CBD

2nd December 2002 Last week, FNB announced that it is investing R28-million in the Johannesburg CBD with the development of a car parkade, which will form part of the bank’s BankCity complex. 

Petronas acquires interest in Iran block

2nd December 2002 Malaysia's state oil firm Petronas said last week it has acquired a 30% stake in Iran's onshore Munir block from Edison International and Lundin Petroleum. 

Morocco refinery on recovery path after fire

2nd December 2002 Morocco's major oil refiner Samir said last week it would restore within 10 days 60% of the output capacity of its 125 000 bpd plant of Mohammedia after a fierce fire last Monday. 

Telecoms sector sinks into alphabet soup

2nd December 2002 So what has South Africa's DOC got to say about the SNO and the IPO? Well, typically, it refers all questions to the DPE. 

African business takes up fight against Aids

2nd December 2002 From South Africa's cavernous gold mines to the lush fields of Kenya's tea estates, Aids is stalking Africa's dreams of an economic renaissance. 

PBMR test-rig start-up a world first

29th November 2002 South Africa’s Pebble Bed Modular Reactor (PBMR) project achieved a major milestone, with the successful start-up of a test-rig for the power conversion system. 

Sasol arranges for $700m finance for Qatar GTL project

29th November 2002 South Africa’s Sasol Synfuels and Qatar Petroleum (QP) have jointly appointed 15 banks as lead arrangers in the $700-million non-recourse debt financing of their gas-to-liquid (GTL) project at Ras Laffan Industrial City in Qatar. 

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