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Trade News

Global trade growth strong but at risk if conflict escalates, WTO says

By: Reuters     12th April 2018 World trade in goods is maintaining a robust recovery, but it still might falter if trade tensions escalate further, the World Trade Organization said in its annual forecast on Thursday. Trade in goods will grow 4.4% this year after a decade averaging 3.0% a year following the financial crisis.... 

Boeing wins a trifecta of commercial aircraft orders

By: Rebecca Campbell     11th April 2018 US aerospace giant Boeing has announced a series of orders for its commercial aircraft during this month so far. The orders are for 737 MAX 10 single-aisle and 787 Dreamliner wide-body airliners and 777 freighter aircraft. The three deals have a total value of some $19.94-billion. The first... 

Boeing wins a trifecta of commercial aircraft orders
Photo by Bloomberg
A Boeing 777 (in airliner configuration)

IMF chief optimistic on growth, but warns against trade protectionism

By: Reuters     11th April 2018 The International Monetary Fund (IMF) is optimistic on the outlook for global growth but warned darker clouds are looming due to fading fiscal stimulus and rising interest rates, the fund's Managing Director, Christine Lagarde, said on Wednesday. In a speech in Hong Kong, Lagarde said the top... 

International airline body calls for greater cooperation within Africa regarding aviation

By: Rebecca Campbell     10th April 2018 Collaboration between aviation stakeholders, not least governments, in Africa is essential if the aviation sector is to realise its full potential and accelerate the development of the continent. So asserted International Air Transport Association (Iata) VP: Africa Raphael Kuuchi in his keynote... 

Visa launches challenge to create payment innovations

By: Schalk Burger     6th April 2018 Payment technology multinational Visa launched its global Everywhere Initiative in Africa for financial technology (fintech) start-ups to stimulate payment innovations and the nascent fintech industry in the region. “The goal is to allow for cashless economies and financial inclusion. Visa aims... 

Capital equipment future looks bright

By: Erin Steenhoff-Snethlage     6th April 2018 Sales of new earthmoving and mining equipment are on an upward trend, breaking the three-year downward cycle that the industry has been in since the second quarter of 2014, according to the Construction and Mining Equipment Suppliers’ Association (Conmesa). 

Capital equipment future looks bright
LAWRENCE PETERS An increase in capital equipment sales in 2017 is a positive sign for the future of the industry

M&R independent board issues fair value price range

By: Marleny Arnoldi     4th April 2018 The R15-a-share offer that German investment firm Aton is proposing for JSE-listed Murray & Roberts (M&R) falls well short of what the independent board believes the company is valued at.  

Trade back on the global, African agenda 

29th March 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Africa’s plans to conclude a continental free trade agreement and South Africa’s discussions with the US regarding steel tariffs. 

Trade back on the global, African agenda
Trade back on the global, African agenda

WTO chief sees no sign of US walking away from WTO

By: Reuters     28th March 2018 There is no sign that the United States is distancing itself from the World Trade Organization, and negotiations are underway to avert a global trade war, WTO Director-General Roberto Azevedo said in a BBC interview broadcast on Wednesday. US President Donald Trump has launched a series of... 

M&R board labels Aton offer 'opportunistic'

By: Marleny Arnoldi     27th March 2018 JSE-listed Murray & Roberts’ (M&R’s) independent board review has concluded that German investment holdings company Aton's planned offer of R15 a share is “opportunistic” and that Aton is unlikely to successfully delist M&R after the takeover. M&R reported on Tuesday that Aton’s proposed cash... 

Nigeria to consult before deciding on African trade zone

By: Reuters     27th March 2018 Nigeria decided not join an Africa free trade zone last week because it needs to carry out more consultations at home first, the government said on Tuesday. Other leaders agreed to form a zone encompassing 1.2-billion people, but 11 countries including the continent's biggest economy, Nigeria,... 

South Africa sees T-FTA as building block in continental integration process

By: Terence Creamer     26th March 2018 South Africa fully supports the proposed African Continental Free Trade Agreement (AfCFTA) signed by 44 African countries in Kigali, Rwanda, last week, but Trade and Industry Minister Dr Rob Davies said the “high bar” set by South Africa’s legal framework made it impossible for the country to... 

South Africa sees T-FTA as building block in continental integration process
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

SADC Ministers meet in Pretoria with focus on industrialisation

By: African News Agency      26th March 2018 The Southern African Development Community (SADC) Council of Ministers meeting in Pretoria should explore ways of cooperating to intensify industrialisation in the region to boost economic growth, South Africa’s Minister of International Relations and Cooperation Lindiwe Sisulu on Monday. Sisulu,... 

EU trade chief hopeful of exemption from Trump tariffs

By: Reuters     22nd March 2018 European Trade Commissioner Cecilia Malmstrom expressed cautious optimism on Thursday that US President Donald Trump would exempt the European Union from import tariffs to be imposed on steel and aluminium. The United States is set to begin charging import duties of 25% on steel and 10% on... 

Ramaphosa: SA borders 'need to be open for Africans to move freely and to promote business'

By: News24Wire      22nd March 2018 South Africa's borders need to be open for people – particularly Africans – to move more freely and to promote business, President Cyril Ramaphosa has said. He also reiterated the need for a single currency on the continent. Ramaphosa told journalists following a summit on the African Continental... 

Ramaphosa: SA borders 'need to be open for Africans to move freely and to promote business'
President Cyril Ramaphosa

Ramaphosa welcomes new continental free trade agreement

By: News24Wire      21st March 2018 President Cyril Ramaphosa has welcomed the adoption by the African Union of an agreement of free trade on the continent as "a new beginning for the continent that will catapult African countries and companies to much higher levels of growth". Ramaphosa returns to South Africa Wednesday night... 

AU ready to sign continental trade treaty without Nigeria

By: African News Agency      20th March 2018 African Union (AU) chairperson Paul Kagame on Tuesday gave a strong indication yet that member states will sign the treaty to create the continental free trade area even if the continent's most-populated country, Nigeria, withdraws from the meeting. At least 53 African Heads of States have... 

AU ready to sign continental trade treaty without Nigeria
Photo by Bloomberg
AU chairperson Paul Kagame

WTO members say US actions threaten trade body's credibility

By: Reuters     20th March 2018 Nearly 50 countries expressed concern on Tuesday about the "serious threat" to the World Trade Organisation posed by unilateral trade actions, a pointed reference to US import tariffs that have caused a global outcry. Delivering concluding remarks after a two-day informal meeting of the WTO... 

Heartwood Properties lists on 4AX

By: Marleny Arnoldi     20th March 2018 Exchange trading platform 4 Africa Exchange (4AX) on Tuesday listed its first issuer operating in the property sector – Heartwood Properties.  

Heartwood Properties lists on 4AX
4AX CEO advocate Fay Mukaddam

PEWA to set stage for African energy investment once again

By: Marleny Arnoldi     16th March 2018 With 600-million people in Africa not having access to electricity, the onus is on Power & Electricity World Africa (PEWA) to provide the platform that will encourage investment in infrastructure and grid connection across Africa.  

PEWA to set stage for African  energy investment once again
POWER UNITED Terrapinn is expecting about 8 000 attendees from more than 40 African countries, including 350 exhibitors and 300 speakers, to attend PEWA 2018

Aerosud Aviation warns of tough times for the South African aerospace industry

By: Rebecca Campbell     16th March 2018 South Africa’s largest private-sector commercial aviation aerostructures manufacturing company, Aerosud Aviation (a wholly-owned subsidiary of Aerosud Holdings), warns that the local aerospace industry is going through tough times and is not receiving the kind of support that competitors in other... 

Kazungula Bridge set to open corridor between Zambia, Botswana

By: African News Agency      14th March 2018 The Kazungula Bridge project is set to open up the transport corridor between Zambia and Botswana, a move which will see Zimbabwe lose out on transit revenue. The project is being carried out with partial financial assistance from the African Development Bank (AfDB). The primary objective of the... 

Busa optimistic of South Africa’s economic prospects

By: Marleny Arnoldi     13th March 2018 Business Unity South Africa (Busa) is optimistic about South Africa’s economic prospects following meetings with investors and ratings agencies in London this week.  

2018 brings renewed optimism for South African stainless steel industry

By: Simone Liedtke     12th March 2018 This year may break the downward trend of reduced consumption in the South African stainless steel industry, says South African Stainless Steel Development Association (Sassda) director John Tarboton. He notes that stainless steel consumption dropped by about 5.6% in 2017, and that the industry... 

Investment tracker points to growing optimism in manufacturing sector

By: Simone Liedtke     12th March 2018 Investment in the manufacturing industry increased in the final quarter of 2017, reflecting a growing optimism and changing sentiment in the sector, the latest Manufacturing Circle Investment Tracker (MCIT) has indicated. In the fourth quarter, the MCIT increased by five index points year-on-year... 

Investment tracker points to growing optimism in manufacturing sector
Photo by Creamer Media
Manufacturing Circle executive director Phillipa Rodseth

South Africa commits to new continental trade agreement

By: Megan van Wyngaardt     12th March 2018 The African Ministers of Trade (Amot) last week considered and approved – for submission to the extraordinary summit of the African Union (AU) Heads of State and Government – an agreement establishing the African Continental Free Trade Area (AfCFTA), as well as the protocols on trade in goods and... 

South Africa commits to new continental trade agreement

South Africa to make tariffs submission as Trump leaves door open for exclusions

By: Terence Creamer     9th March 2018 The Department of Trade and Industry (DTI) says it is studying US President Donald Trump’s proclamations to impose a new 10% tariff on aluminium products and a new 25% tariff on steel products from March 23. However, the department also confirmed that it would be making a formal submission to the... 

South Africa to make tariffs submission as Trump leaves door open for exclusions
Photo by Bloomberg
US President Donald Trump

Tribunal approves Sinopec’s $900m acquisition of Chevron SA with conditions

By: Nadine James     9th March 2018 The Competition Tribunal has approved Hong Kong-based Sinopec’s proposed $900-million acquisition of a 75% interest in Chevron South Africa (CSA), subject to a range of employment, investment and other public interest conditions. Sinopec and CSA had tendered a set of proposed conditions, which... 

WTO says there is still time to discuss US tariff move

By: Reuters     9th March 2018 World Trade Organization (WTO) members still have time to discuss the US tariffs on steel and aluminium imports signed by President Donald Trump on Thursday, and it is up to them what happens next, WTO spokesperson Dan Pruzin told reporters on Friday. "Certainly there is still time to discuss... 

Standard rail network can foster intercountry trade

By: Melissa Zisengwe     9th March 2018 Linking African countries with a standard rail network will assist in growing inter-country trade and, subsequently, foster Africa’s economic growth, says engineering consultancy WSP Africa Group. 

Standard rail network can  foster intercountry trade
VISHAAL LUTCHMAN Africa needs to start leading and building itself

S&P makes case for positive blockchain disruption, amid cryptocurrency concern

By: Schalk Burger     9th March 2018 Global ratings agency Standard and Poor’s (S&P’s) currently views cryptocurrencies as speculative instruments that will have an “insignificant effect on global financial stability if its value were to collapse”, but that blockchain – a shared digital transaction ledger – presents an opportunity... 

Domestic drugs manufacturing could benefit from increased local demand

By: Dylan Slater     9th March 2018 The South Africa pharmaceutical manufacturing industry is “well positioned” to assist in contributing to the economy with an increase in local manufacturing, which needs to be driven by a decrease in importing drugs and consequent increase in local manufacturing, says local procurement lobby... 

Africa should avoid forfeiting sovereignty to China over loans – Tillerson

By: Reuters     8th March 2018 US Secretary of State Rex Tillerson said on Thursday that African countries should weigh Chinese loans carefully, while adding that Washington was not trying to keep Chinese investment away from the continent. Tillerson, a former Exxon chief executive, is seeking to bolster security alliances on... 

EU warns Trump of trade war, China raises concerns at WTO

By: Reuters     7th March 2018 Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminium. The departure of Gary Cohn, seen as a bulwark against Trump's... 

South African steel, aluminum firms watchful, but not overly anxious, as US tariff hikes loom

By: Terence Creamer     6th March 2018 South African steel and aluminium firms remain watchful and uncertain about the effects that proposed increased US trade protection could have on their businesses. However, the companies also indicate that they will seek to mitigate the risk through export diversification, as well as a continued... 

South African steel, aluminum firms watchful, but not overly anxious, as US tariff hikes loom
US President Donald Trump

WTO chief urges States to stop first dominoes of trade war

By: Reuters     6th March 2018 The head of the World Trade Organization (WTO) told member states on Monday they must prevent "the fall of the first dominoes" in a trade war and warned of a real risk of triggering an escalation of global trade barriers and a deep recession. World trade policy is in turmoil because of US... 

WTO chief urges States to stop first dominoes of trade war
Photo by Reuters
WTO director general Roberto Azevedo

The DTI leads black industrialists on trade mission to Mozambique

By: African News Agency      5th March 2018 The Department of Trade and Industry (dti) is leading a black industrialists business delegation to Mozambique on a mission to identify and explore trade and investment opportunities from March 4 to 10. Also in the delegation are representatives of the Development Bank of Southern Africa, the... 

 The DTI leads black industrialists on trade mission to Mozambique
Photo by Duane Daws
Trade & Industry Minister Rob Davies

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