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Donald Trump’s gratuitous slur

By: Martin Zhuwakinyu     9th February 2018 A few weeks ago, US President Donald Trump was at it once again, using vulgar language to disparage the home countries of African, Haitian and El Salvadorian immigrants. As is his wont, he subsequently denied ever uttering the offensive remarks. Last week, he issued a statement full of praise for... 

Disrupting mindsets

By: Terence Creamer     9th February 2018 The main disruption in the global energy milieu over the past five years has been a “disruption in the mindset,” Engie CEO Isabelle Kocher asserted during a recent panel discussion at the World Economic Forum in Davos, Switzerland. In fact, she argued that this shift in thinking (about the role... 

Mbazima urges immediate dialogue on rail, port expansion

By: Martin Creamer     5th February 2018 South Africa’s ability to revitalise crucial infrastructure, especially rail and port networks, is among the key actions needed to bring investment back into the South African mining industry, Anglo American South Africa deputy chairperson Norman Mbazima said on Monday. Speaking on first day of... 

Oo, oo, oo, the tide is turning

By: Riaan de Lange     2nd February 2018 Has the tide really turned? Well, it depends on your perspective. Is the tide turning for the better of for the worse? Before exploring further, let me confess that I typed away with Roger Waters’ The Tide Is Turning adding to my keyboard’s sounds. Only minutes before, I had read Oxfam’s report... 

WARM EMBRACE

     2nd February 2018 South African Reserve Bank governor Lesetja Kganyago may have been feeling the cold in Davos, Switzerland, last week, where he participated in the World Economic Forum. However, the rest of the world has embraced him warmly, with the International Monetary Fund (IMF) having appointed Kganyago as... 

Money won't curb #DayZero, we must adapt – Mokonyane

By: Reuters     29th January 2018 Water and Sanitation Minister Nomvula Mokonyane says that throwing money at the looming #DayZero crisis is not the answer, but rather Capetonians need to adapt to the situation. Mokonyane and deputy director general Trevor Balzer were addressing the Cape Town Press Club on Sunday on the prospect... 

As global economy hums, Davos turns bullish on commodities

By: Bloomberg     27th January 2018 The last two editions of the World Economic Forum were somber affairs for oil industry chieftains and commodities tycoons. The consensus in Davos was that oil was going to stay low, OPEC would fail to lift prices, and the mining industry faced a difficult time. Roll forward to 2018 and there’s... 

‘Any nuclear new build a poor choice for South Africa’, not just a Russian build

By: Terence Creamer     26th January 2018 Not just Russian but any nuclear new build is a poor choice for South Africa, Rocky Mountain Institute chief scientist Amory Lovins and University of Cape Town (UCT) emeritus professor Anton Eberhard argue in a newly release occasional paper published by the UCT Graduate School of Business.... 

South African mining seen a winner as Ramaphosa woos investors

By: Reuters     26th January 2018 South Africa's embattled mining industry could be first in line to benefit from a boost in foreign direct investment (FDI) if the new leader of the ruling party Cyril Ramaphosa implements measures seen as vital to draw in more cash, analysts said. The governing African National Congress (ANC)... 

Steinhoff scandal shows need for activist shareholding – JSE CEO 

By: Reuters     26th January 2018 An accounting scandal involving retailer Steinhoff has highlighted the need for more activist shareholding and more vigorous oversight by boards, the chief executive of South Africa's stock exchange operator said on Friday. Steinhoff, which owns more than 40 brands including Poundland in Britain... 

Alrosa CEO, Angolan President discuss Catoca shareholding

By: Megan van Wyngaardt     26th January 2018 Alrosa CEO Sergey Ivanov and Angolan President João Lourenço this week held their second meeting to discuss issues related to the closing of the transaction to increase Alrosa's shareholding in Catoca Mining to 41%. "Recently, we have seen positive changes related to increasing of transparency... 

IMF's Lagarde welcomes Mnangagwa's promise to revive Zimbabwe economy

By: Reuters     26th January 2018 IMF chief Christine Lagarde on Thursday welcomed a commitment by Zimbabwe's new President Emmerson Mnangagwa to stabilise the country's economy and work to improve relations with the international community. Lagarde met with Mnangagwa on the sidelines of the World Economic Forum in Davos,... 

'We have excess power and no money' – Ramaphosa on nuclear plan

By: African News Agency      25th January 2018 South Africa's Deputy President Cyril Ramaphosa on Thursday reiterated that a proposed nuclear build programme will only be considered in the broad context of affordability, but warned "we have excess power and we have no money". Ramaphosa, who was asked at a press conference at the World... 

Ramaphosa says State capture probe will go to the 'depths' of corruption 

By: African News Agency      25th January 2018 South Africa Deputy President Cyril Ramaphosa on Thursday described the pending commission of inquiry into State capture as a "huge plus", as "we are now going to go to the depths of what corruption has been taking place in our State-owned enterprises". Ramaphosa was speaking during a press... 

Cyberattacks pose risk to financial stability, SARB warns

By: Terence Creamer     25th January 2018 Rising cybersecurity risks could undermine financial stability, South African Reserve Bank (SARB) deputy governor Francois Groepe warns. Speaking in Cape Town at the thirteenth Basel Committee on Banking Supervision – Financial Stability Institute high-level meeting for Africa, Groepe said the... 

Cape Town held up as example of climate change disaster at WEF

By: African News Agency      25th January 2018 Cape Town and its desperate battle to avoid running out of water is a climate change disaster, the World Economic Forum (WEF) in Davos, Switzerland, has heard. At a WEF session on environmental risks, experts urged the world to move faster on climate change to avoid disaster, as extreme weather... 

Ramaphosa to engage British PM and other world leaders at WEF

By: African News Agency      25th January 2018 South Africa's Deputy President Cyril Ramaphosa will hold bilateral meetings with a range of world leaders, including British Prime Minister Theresa May and Danish Prime Minister Lars Løkke Rasmussen, at the World Economic Forum on Thursday, as the country continues its drive to assure partner... 

China's Belt and Road initiative the future of global collaboration

By: African News Agency      25th January 2018 China's Belt and Road Initiative (BRI) which seeks to build structural linkages and cooperation between countries has been held up as a model of global collaboration. Initially set up as a framework for cooperation between Eurasian countries, the BRI is being hailed as being perfectly in sync... 

Gigaba warns country will feel pain of tough budget

By: Reuters     25th January 2018 South Africa's budget has involved making tough decisions to stabilise the country's debt and the country will feel some pain as a result, its finance minister said on Wednesday. The South African economy, Africa's second largest and most industrialised, has slowed to a near standstill. 

South Africa's new political certainty boosting rand – Kganyago

By: Reuters     24th January 2018 The appointment of a new leader of South Africa's ruling party has removed political uncertainty that contributed to the depreciation of the rand currency and has been welcomed by investors, the country's central bank governor said on Wednesday. The new leader of the ruling African National... 

South African Ministers in Davos welcome tough action on SOEs

By: African News Agency      24th January 2018 South African Ministers in Davos for the World Economic Forum have welcomed the tough line and decisive action taken on state-owned enterprises, in particular Eskom which last week saw a shake-up at board and executive level. SA Trade and Industry Minister Dr Rob Davies, speaking to the African... 

South Africa must seize on optimism around growth prospects – Davies

By: African News Agency      24th January 2018 South Africa's Minister of Trade and Industry Dr Rob Davies said on Wednesday there was optimism around the country's growth prospects, partly helped by a more stable political outlook after the ruling ANC's December conference. Davies, who is in Davos, Switzerland, as part of the South African... 

IMF chief meets Ramaphosa in Davos to discuss economy

By: Reuters     24th January 2018 IMF chief Christine Lagarde said on Tuesday she had met with South African Deputy President Cyril Ramaphosa on the sidelines of the World Economic Forum in Davos and agreed that structural challenges were a burden to economic growth in Africa's largest economy. Their meeting comes a day after the... 

Ramaphosa leads Team SA in range of engagements at WEF

By: News24Wire      24th January 2018 The South African delegation to the World Economic Forum (WEF) in Africa has held engagements with government and business leaders as it seeks to boost the country's image as an investment destination, trade partner and member of the international community. In a statement on Tuesday night, the... 

Tech revolution will see 'serious winners and losers', warns Davies

By: African News Agency      23rd January 2018 There will be "serious winners and losers" as a result of the Fourth Industrial Revolution and South Africa needs to be properly prepared and positioned to reap the benefits, or be saddled with the negative consequences. This was according to Trade and Industry Minister Dr Rob Davies who said... 

Urgent need to recycle, reuse natural resources – report

By: Natasha Odendaal     23rd January 2018 A new global circularity metric unveiled in Davos, Switzerland, has revealed an urgent need to use the world’s resources more efficiently and create policies and economic infrastructure that encourages the recycling and reuse of natural resources. The Circle Economy’s first ‘Circularity Gap’... 

Infrastructure development a key driver of South African economy – Patel

By: African News Agency      23rd January 2018 Infrastructure development is a key driver of South Africa's growth prospects, with rail and water infrastructure focal areas. This is according to Economic Development Minister Ebrahim Patel, who is in Davos for the World Economic Forum (WEF), as part of the South African delegation looking to... 

Fractured, complex world presents growth opportunities for South Africa

By: African News Agency      23rd January 2018 The fractured state of the world is an opportunity for South Africa to exploit if it can show a compelling growth story. This is according to Economic Development Minister Ebrahim Patel, who is in Davos for the World Economic Forum (WEF), as part of the South African delegation looking to... 

Agarwal plans to keep his Anglo American stake for a long time

By: Bloomberg     23rd January 2018 Anil Agarwal, the Indian commodities billionaire, said the rally in Anglo American vindicated his personal bet in the mining group, adding that he plans to own the shares for a long time. Agarwal surprised Anglo’s management last year when he took a 21% stake in the company, becoming its top... 

World’s richest 1% held 82% of global wealth in 2017 – Oxfam

By: Anine Kilian     22nd January 2018 Eighty two per cent of the wealth generated in 2017 went to the richest 1% of the global population, while the 3.7-billion people who make up the poorest half of the world saw no increase in their wealth. A new report, entitled ‘Reward Work, No Wealth’, released by charity organisation Oxfam, on... 

Ramaphosa and SA delegation depart for WEF in Davos, Switzerland

By: African News Agency      22nd January 2018 Deputy President Cyril Ramaphosa and his delegation departed from Johannesburg on Sunday evening to participate at the World Economic Forum (WEF) annual meeting in Davos, Switzerland, the presidency said. The WEF meeting in Davos-Klosters is scheduled for January 23 to 26, under the theme... 

Governments need to respond nimbly to tech advances, says WEF founder

By: African News Agency      19th January 2018 Governments and world leaders need to be nimble and adaptable when it comes to the governance of technological advances in order to fully harness its potential to solve critical global challenges. This is according to Professor Klaus Schwab, the founder and executive chairperson of the World... 

Eskom challenges need to be addressed urgently, or South Africa will sink – Gigaba

By: Megan van Wyngaardt     18th January 2018 Finance Minister Malusi Gigaba on Thursday painted a grim picture of the financial challenges facing power utility Eskom, stating that the national fiscus would be unable to bail the State-owned enterprise (SOE) out in the event of a default. Speaking at a pre-World Economic Forum (WEF)... 

Capture of State-owned enterprises totally unacceptable – Ramaphosa

By: African News Agency      18th January 2018 South Africa's deputy president and new leader of the ruling African National Congress (ANC), Cyril Ramaphosa, said on Thursday it was "totally unacceptable" that State-owned companies had fallen prey to criminal elements, resulting in sovereign credit rating downgrades to sub-investment status.... 

WEF 2018 meeting to feature record number of world leaders

By: African News Agency      18th January 2018 A record number of heads of state, government and international organisations, as well as leaders from business, civil society, academia, the arts and media, are set to attend the World Economic Forum’s (WEF) 48th annual meeting taking place in Davos-Klosters, Switzerland, from January 23 to 26.... 

Davos paper attacks Trump's views on trade

By: Reuters     17th January 2018 US President Donald Trump's view of world trade will be challenged next week when he visits the World Economic Forum (WEF) at Davos, judging by a paper seen by Reuters on Wednesday that is aimed squarely at his "America First" stance. The "Strategic Brief on Misconceptions around Trade Balances"... 

Ramaphosa to lead South African delegates at World Economic Forum

By: Dylan Slater     10th January 2018 Deputy President Cyril Ramaphosa, who is also the recently elected president of the incumbent African National Congress, will lead a South African delegation to the forty-eighth edition of the World Economic Forum’s yearly meeting, which will be held in Davos-Klosters, in Switzerland, from... 

Precipitous platinum price plunge putting industry at risk 

By: Martin Creamer     5th May 2017 This week’s precipitous platinum price plunge to as low as $893/oz is putting the entire platinum industry at risk, making it essential that steady hands are placed on the tiller to ensure that a national patrimony is protected. While the entire industry has been accepting a lower-for-longer... 

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