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Latest News

Human Rights Commission becomes more muscular in tackling water violations 

By: Natasha Odendaal     23rd November 2018 The South African Human Rights Commission (SAHRC) is taking seriously its role as a leader in protecting basic human rights as it steps up to probe a purported case of the violation of the right to access clean water, a clean environment and human dignity. The institution is strengthening... 

Komatsu Africa Holdings unveils multimillion-rand campus

By: Tasneem Bulbulia     22nd November 2018 Komatsu Africa Holdings, the Southern African division of global capital equipment player Komatsu, has opened a new industrial hub, built to the tune of R985-million, in Germiston, Johannesburg. The campus was officially unveiled on Thursday, at a ceremony attended by local and international... 

Komatsu Africa Holdings unveils multimillion-rand campus

Ramaphosa merges Ministries in Cabinet reshuffle 

By: Sashnee Moodley     22nd November 2018 President Cyril Ramaphosa announced on Thursday in his much anticipated Cabinet reshuffle the merging of the Telecommunications and Postal Services Ministry with the Communications Ministry, under the leadership of Minister Stella Ndabeni-Abrahams. The merger will take place after the 2019... 

Ramaphosa merges Ministries in Cabinet reshuffle
President Cyril Ramaphosa

Emira boosts US retail property portfolio with another acquisition

By: Simone Liedtke     22nd November 2018 Emira Property Fund on Thursday announced that it has grown its portfolio in the US to five value-orientated assets in thriving states. The JSE-listed real estate investment trust co-invests in the US with its in-country partner, Rainier Group of Companies. 

Emira boosts US retail property portfolio with another acquisition
Woodlands Square in Tampa, Florida

Stenprop on track to achieve multi-let transition goal over next two years

By: Simone Liedtke     22nd November 2018 Dual-listed property investment company Stenprop, which is focused on growing its multi-let industrial (MLI) portfolio, posted basic earnings of £13.2-million for the six months ended September 30. Net rental income of £16-million, excluding Switzerland, remained broadly flat compared with the... 

JSE listing to unlock shareholder value, says Motus

By: Marleny Arnoldi     22nd November 2018 Motus Holdings, which was recently unbundled from Imperial Holdings, says its independent listing on the JSE enables improved strategic focus, operational efficiency and has unlocked shareholder value. Motus listed in the specialised retail sector of the JSE on Thursday, with a starting trade... 

JSE listing to unlock shareholder value, says Motus
Photo by Dylan Slater
Motus acting CEO Ockert Janse van Rensburg celebrates the JSE listing of Motus

SA central bank raises benchmark repo rate to 6.75% 

By: African News Agency      22nd November 2018 South Africa's central bank on Thursday raised the benchmark repo rate by 25 basis points to 6.75% despite weak economic growth, saying delaying the adjustment could cause inflation expectations to become entrenched at higher levels. "The Committee continues to assess the stance of monetary... 

 SA central bank raises benchmark repo rate to 6.75%
SARB governor Lesetja Kganyago

Economist warns of impact of rising debt on global financial market

By: Creamer Media Reporter      22nd November 2018 A decade on from the start of the global financial crisis (GFC), and markets have rebounded considerably; however, investors should brace for a bumpy road ahead, as the debt overhang that sparked the worst economic disaster in modern history has yet to be resolved, says Citadel chief economist... 

BP to invest $1bn in South Africa, including refinery upgrade

By: Reuters     22nd November 2018 BP Southern Africa (BPSA) will invest $1-billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said on Thursday. The 180 00 barrels per day SAPREF refinery, South Africa's... 

Siyabonga Gama loses court bid to interdict dismissal as Transnet CEO 

By: African News Agency      22nd November 2018 Former Transnet chief executive Siyabonga Gama on Thursday lost his Labour Court application to have his dismissal by the board of the state-owned freight and rail company set aside, and was ordered to pay the costs for Transnet, including two of its lawyers.   Labour Court judge Connie Prinsloo... 

Siyabonga Gama loses court bid to interdict dismissal as Transnet CEO
Photo by Creamer Media
Former Transnet CEO Siyabonga Gama

Service delivery tied to job creation – Ramaphosa

By: News24Wire      22nd November 2018 President Cyril Ramaphosa has urged municipalities to adhere to standardised levels of service delivery so they can create the type of environment that will attract investors. Speaking on Thursday at a National Council of Provinces sitting in Alberton, south of Johannesburg, Ramaphosa said... 

Service delivery tied to job creation – Ramaphosa
President Cyril Ramaphosa

Global carbon dioxide levels hit a new record in 2017, UN says

By: Reuters     22nd November 2018 The amount of carbon dioxide in the atmosphere hit a new record last year with emissions showing no sign of slowing down, the UN World Meteorological Organization said on Thursday. The annual Greenhouse Gas Bulletin dashed hopes for a slowdown in emissions of CO2 – the byproduct of burning fossil... 

R1bn Dunnottar facility boosts Nigel economy, youth employment  

22nd November 2018 Last month, President Cyril Ramaphosa officially opened the R1-billion, 78ha Gibela train manufacturing facility at Dunnottar Park, in Johannesburg. The facility will manufacture, assemble, test, commission and deliver 580 new X’Trapolis Mega commuter trains for Prasa. Nadine James tells us more. 

R1bn Dunnottar facility boosts Nigel economy, youth employment
R1bn Dunnottar facility boosts Nigel economy, youth employment

Tiger Brands to spin off 42% stake in Oceana

By: Reuters     22nd November 2018 Tiger Brands, which is recovering from a food contamination crisis, said on Thursday it will spin off its 42.1% stake in Oceana Group worth $330-million to focus on growing its core food and drinks business. "The decision was taken following a review of Oceana's fit with the group's core business... 

Tiger Brands food revenues decline 52% to R1.1bn after products recall due to listera outbreak

By: African News Agency      22nd November 2018 Packaged goods company Tiger Brands said on Thursday that its food revenue declined 52% to R1.1-billion for the year ended 30 September.  The company said it suffered abnormal losses of R422-million in this period, including the significant impact of the value-added meat products (VAMP) recall of... 

Motus’ empowerment scheme lists on EESE

By: Marleny Arnoldi     22nd November 2018 Broad-based black economic empowerment (BBBEE) scheme Ukhamba 2 on Thursday listed on the Equity Express Securities Exchange (EESE). Ukhamba 2 is JSE-listed Motus’ employment empowerment scheme. Motus was unbundled from Imperial Holdings earlier this year and listed on the JSE on Thursday.  

Cabinet approves extension of motor industry support programme to 2035 

By: Irma Venter     22nd November 2018 Cabinet announced on Thursday that it had approved the extension of the Automotive Production and Development Programme (APDP) from 2021 to 2035. The government support programme for the domestic vehicle manufacturing industry was originally scheduled to come to an end in 2020. 

Cabinet approves extension of motor industry support programme to 2035

Risk of remote cyber control of vehicles growing, says cybersecurity firm VP 

By: Irma Venter     22nd November 2018 The risk of remote cyber control of vehicles is growing as more cars become constantly connected to the Internet via a cellular link, says Inside Secure strategy VP Asaf Ashkenazi. Inside Secure is a France-based mobile and connected devices security solutions provider. 

 Risk of remote cyber control of vehicles growing, says cybersecurity firm VP
Asaf Ashkenazi

Education, Health, Public Works finances are in a bad way, says Auditor-General

By: Kim Cloete     22nd November 2018 Auditor-General Kimi Makwetu has warned that the financial health of the provincial departments of health, education and public works are in a bad way and need urgent intervention. “Urgent intervention is needed to prevent the collapse of these key service delivery departments,” said Makwetu in... 

Audit outcomes of State-owned entities continue to regress

By: Kim Cloete     22nd November 2018 The audit outcomes of State-owned entities (SOEs) have regressed over the past financial year compared with both the previous year and 2014/15. The 2017/18 general report for the Auditor-General South Africa (AGSA) said there was an increase in noncompliance of the 16 SOEs it audited. It also... 

Carbon Tax Bill provides for tax-free allowances of up to 95%, but concern over impact persists 

By: Terence Creamer     22nd November 2018 South Africa’s National Treasury has included several transitional tax-free allowances in the Carbon Tax Bill tabled in Parliament this week. The allowances will result in an effective carbon tax rate of between R6/t and R48/t for carbon dioxide-equivalent (CO2e) emissions released by industrial... 

Carbon Tax Bill provides for tax-free allowances of up to 95%, but concern over impact persists

Ramaphosa to announce Cabinet reshuffle

By: News24Wire      22nd November 2018 President Cyril Ramaphosa is expected to announce changes to the National Executive at the Union Buildings, Pretoria, at 15:00 on Thursday. In a statement issued on Thursday morning the Presidency said "these changes have been occasioned by the passing away in September 2018 of the Minister of... 

Ramaphosa to announce Cabinet reshuffle
President Cyril Ramaphosa

Nissan ousts Ghosn as chair after arrest, NHK reports

By: Bloomberg     22nd November 2018 Nissan Motor’s board removed Carlos Ghosn as chairperson, the NHK reported, as the directors moved to contain the damage from the iconic executive’s shock arrest. Japan’s national broadcaster didn’t provide further details. A Nissan spokesman declined to comment. The board was meeting Thursday to... 

PIC's Matjila offers to resign

By: Bloomberg     22nd November 2018 Daniel Matjila, head of South Africa’s Public Investment Corporation (PIC), has offered to resign from his role at Africa’s largest money manager, according to the country’s Ministry of Finance. The offer must now be considered by the PIC’s board and then approved by Finance Minister Tito... 

Cell C turns to Blue Label, banks to refinance onerous debt

By: Bloomberg     22nd November 2018 Cell C said it’s refinanced R1.4-billion ($100-million) of debt on better terms with loans from its biggest shareholder and a consortium of banks as the South African wireless carrier considers a listing in 2020. South Africa’s third-largest operator is also in talks with vendors including Huawei... 

China and US accuse each other of hypocrisy as WTO litigation begins

By: Reuters     22nd November 2018 The United States and China clashed on Wednesday at a World Trade Organization meeting with a US envoy accusing Beijing of using the WTO to pursue "non-market" policies and a Chinese official saying it was Washington that was flouting the rulebook. US President Donald Trump has outraged US... 

Defence Minister to visit Vaal river system rehabilitation project

By: Natasha Odendaal     22nd November 2018 Defence and Military Veterans Minister Nosiviwe Mapisa-Nqakula will on Friday visit the Vaal river system rehabilitation project that is currently under way in Sebokeng. This followed the deployment of the South African National Defence Force technical teams to restore infrastructure, including... 

Central bank set to keep interest rates unchanged

By: African News Agency      22nd November 2018 South Africa's central bank is likely to keep interest rates unchanged on Thursday as inflation remains contained within target while economic growth is worryingly anaemic. The South African Reserve Bank's (SARB) monetary policy committee (MPC) is currently holding its last of six annual meetings... 

Central bank set to keep interest rates unchanged
Photo by Reuters
SARB governor Lesetja Kganyago

Audit results of government departments show a shocking decline 

By: Kim Cloete     21st November 2018 The Auditor-General has been given more powers to crack down on national and provincial government department and their entities. This follows another year of overall decline in their audit results, with a rise in wasteful and irregular expenditure and weak financial controls. Releasing his... 

Audit results of government departments show a shocking decline
Auditor-General Kimi Makwetu

TPT, AFGRI to enter concessions for port terminals

By: Tasneem Bulbulia     21st November 2018 Transnet Port Terminals (TPT) will enter into a 15-year concession agreement with AFGRI Operations for the operation and maintenance of landside operations. The agreement will focus on two strategic agri-ports in the country – the East London Grain Elevator in the Port of East London and the... 

Study under way to help shape policy needed to transition from coal-based to renewable energy systems

By: Simone Liedtke     21st November 2018 As more renewable energy capacity is added globally, thermal coal-fired power stations are likely to, in future, operate only for short periods of time to balance the shortfall in electricity when renewable capacity is not available, University of Johannesburg professor Bilainu Oboirien said at... 

Study under way to help shape policy needed to transition from coal-based to renewable energy systems
Photo by Dylan Slater
University of Johannesburg professor Bilainu Oboirien

SAHRC steps up efforts in water sector 

21st November 2018 Creamer Media's Chanel de Bruyn speaks to Creamer Media Senior Deputy Editor Natasha Odendaal about the South African Human Rights Commission’s investigation into the alleged violation of citizens’ right to clean water and a clean environment. 

SAHRC steps up efforts in water sector
SAHRC steps up efforts in water sector

Countries urged to embrace greener energy sources 

By: Simone Liedtke     21st November 2018 Amid rising global energy demand, University of the Witwatersrand visiting adjunct professor Adam Luckos urges developing countries to embrace greener energy principles. To do this without jeopardising economic growth, he suggests that developing countries, where coal is the most viable... 

Countries urged to embrace greener energy sources
Photo by Dylan Slater
University of the Witwatersrand visiting adjunct professor Adam Luckos

WTO to set up panels to rule on US tariff disputes

By: Reuters     21st November 2018 The US and opponents of President Donald Trump's steel and aluminium tariffs both confirmed their wish to litigate on Wednesday, triggering the procedure for World Trade Organization dispute hearings, a Geneva trade official said. China, the European Union, Canada, Mexico, Norway, and Russia all... 

Coal to remain significant part of South Africa’s energy generation mix  

By: Simone Liedtke     21st November 2018 Notwithstanding recent and continued advances in the roll-out of renewable energy and energy efficiency measures, South African National Energy Development Institute (Sanedi) GM for cleaner fossil fuel use Professor Tony Surridge expects coal will continue to form a significant component of South... 

Coal to remain significant part of South Africa’s energy generation mix
South African National Energy Development Institute GM for cleaner fossil fuel use Professor Tony Surridge speaks to Mining Weekly Online about South Africa's status quo surrounding carbon dioxide storage and utilisation. Video & Editing: Nicholas Boyd

Brazil, India to defy global slowdown of iron-ore production up to 2027

By: Marleny Arnoldi     21st November 2018 The global iron-ore market will stay well supplied up to 2027, supported by expanding output in Brazil and India, says Fitch Solutions’ Macro Research unit. Global iron-ore production will grow modestly from 3.36-billion tonnes to 3.41-billion tonnes by 2027, representing a yearly growth rate... 

PwC unpacks possible outcomes of final 2018 MPC meeting

By: Marleny Arnoldi     21st November 2018 The South African Reserve Bank’s (SARB’s) last Monetary Policy Committee (MPC) meeting for this year is under way, with SARB governor Lesetja Kganyago expected to announce the outcome on Thursday. Policymakers are considering the possibility of a rate hike in November, against the backdrop of... 

Eskom warns its debt could reach R550bn 

By: African News Agency      21st November 2018 Eskom's financial situation will remain dire for the next few years with a risk its debt burden would grow from R400-billion to some R550-billion in the foreseable future, the power utility's CEO Phakamani Hadebe conceded on Wednesday. "The institution is really under severe financial strain,"... 

 Eskom warns its debt could reach R550bn
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

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