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Glencore chair Tony Hayward latest to drop out of Saudi conference

By: Reuters     17th October 2018 Glencore said its chairman Tony Hayward will no longer be attending the Future Investment Initiative conference in Saudi Arabia, confirming a report in the Financial Times. He is the latest top executive to pull out of next week's high profile conference, amid widespread concern about the fate... 

More than 2 000 leaders to attend WEF's summer meeting in Tianjin

By: African News Agency      31st August 2018 More than 2 000 leaders from government, business, science and civil society from around the world will join the World Economic Forum’s (WEF's) annual meeting of the new champions in Tianjin, China, in September.  The meeting, taking place on September 18 to 20, will see 111 countries represented... 

Nuclear: “many studies have shown it is the cheapest of all energies”

18th May 2018 South Africans were never informed properly that nuclear power is not as expensive as it is made out to be, a nuclear energy expert said Thursday.

Nuclear energy expert Des Muller dismissed these and other concerns as “propaganda”. He refuted the cost issue but also took aim at corruption... 

Eskom wants to use “lessons” from Medupi and Kusile to drive nuclear

18th May 2018 Written by Alicestine October The power utility Eskom wants to use lessons learnt from the construction of the two mega power stations, Medupi and Kusile, to drive the country’s nuclear build programme. 

Business Leadership SA dismisses merger talks with Black Business Council

By: African News Agency      26th April 2018 Business Leadership South Africa (BLSA) has dismissed reports that it is in talks about a merger with the Black Business Council (BBC).  BLSA is an independent association whose members include the leaders of some of South Africa’s biggest and most well-known organisations, and aims to create... 

Deripaska's fall: From Davos party king to outcast in three days

By: Bloomberg     10th April 2018 At Davos this year, Oleg Deripaska threw a party with champagne, Russian folk dancers and a performance by Enrique Iglesias. Now the Russian billionaire is on an international blacklist usually reserved for terrorists and warlords. On Friday, the US aimed its toughest sanctions at Deripaska’s... 

Fortescue says miners have shut gates on new iron-ore supply

By: Bloomberg     10th April 2018 Global iron-ore miners have turned off the tap on adding new production capacity to feed China’s steel mills as the world’s largest customer is already awash with supplies, according to Fortescue Metals Group. “The reality is that most of the producers, ourselves included, are not actually... 

Num hits out at Radebe on IPP deal, threatens to end ANC support

By: News24Wire      5th April 2018 The National Union of Mineworkers (Num) has threatened to end its support for the African National Congress (ANC) if government continues with its renewable energy programme, saying clean power will destroy jobs and create ghost towns in coal mining areas. “Workers of this country will not... 

World Economic Forum 2018 says global infrastructure roll-out is key

19th March 2018 Motheo Construction Group is ‘heartened’ by the finding in ‘The Future of Infrastructure’ report launched by integrated infrastructure delivery company AECOM at the 2018 World Economic Forum in Davos in January that adequate investment in infrastructure projects is crucial to national prosperity.... 

Oliphant talks up Mantashe's mining pedigree in Toronto

By: Henry Lazenby     15th March 2018 South Africa's Deputy Mineral Resources Minister Godfrey Oliphant talked up the mining pedigree of newly installed Minister Gwede Mantashe during the recent Prospectors and Developers Association of Canada's annual convention, held in Toronto. "His previous mining experience is an advantage for... 

Accéntuate to press on with manufacturing amid rise in SA confidence

By: Irma Venter     9th March 2018 Flooring, water and chemicals specialist Accéntuate experienced a tough six months to December 31, 2017, with the company moving from a R3.5-million profit in the same period in 2016, to a loss of R1.78-million. Accéntuate says its business has suffered on the back of depressed macroeconomic... 

Sacci reports sustained levels of business confidence for February

By: Marleny Arnoldi     7th March 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) for February showed that the improvement in business confidence was sustained, with the index reaching 98.9 points – 3.4 index points higher than in February 2017.  

DA challenges Radebe to say yes or no to nuclear 

By: Kim Cloete     6th March 2018 The Democratic Alliance (DA) has challenged new Energy Minister Jeff Radebe to give the South African public an unequivocal and unambiguous statement on the nuclear deal. This comes after a meeting of the Parliamentary Portfolio Committee on Energy where MPs called for clarity on the status of... 

Rusal quest for value to dent Glencore's aluminium clout

By: Reuters     27th February 2018 Mining giant Glencore's deal to buy aluminium from Rusal will be renewed from 2019, but the tonnage is likely to be much lower as the Russian producer taps into growing demand for value-added products, two sources close to the matter said. Unless it sources from additional suppliers, the... 

Accéntuate aims for recovery as political power changes hands

By: Irma Venter     23rd February 2018 Flooring, water and chemicals specialist Accéntuate experienced a tough six months to December 31, 2017, with the company moving from a R3.5-million profit in the same period in 2016, to a loss of R1.78-million. Accéntuate said on Friday that its business had suffered on the back of depressed... 

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... 

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