http://www.engineeringnews.co.za
R/€ = 16.46 Change: -0.07
R/$ = 14.23 Change: -0.07
Au 1227.03 $/oz Change: -2.52
Pt 841.00 $/oz Change: -3.14
 

Topic

KPMG will cooperate with damning SARB report 

By: News24Wire      11th October 2018 KPMG has vowed to work on rebuilding trust in its reputation following the release of the South African Reserve Bank's (SARB's) report into VBS Mutual Bank, the global auditing firm said in a statement on Thursday.  The statement was released on Thursday, acknowledging the outcome of the report. 

Hawks, NPA teams already at work on VBS fraud investigation  

By: News24Wire      11th October 2018 The final investigation report into the R1.8-billion fraud at VBS Mutual Bank released on Wednesday cannot be used as evidence to prosecute any individuals, but is serving as a "useful guide" to prosecutors and police investigators. This is according to National Prosecuting Authority spokesperson... 

ANC, opposition parties welcome Mboweni, praise Nene

By: News24Wire      9th October 2018 Former South African Reserve Bank governor and newly appointed Finance Minister Tito Mboweni is highly accomplished and should be able to hit the ground running. This was the sentiment from the ANC and opposition parties after the news broke that Mboweni would replace former minister, Nhlanhla... 

On-The-Air (05/10/2018) 

By: Martin Creamer     5th October 2018 Minerals Minister Gwede Mantashe this week made a strong call for price-hit platinum to be vigorously marketed; Desperately needed mineral exploration has received a major boost by being freed from regulatory red tape; and China is so impressed with South Africa’s mining investment codes that it... 

Recovery is the key word

By: Terence Creamer     5th October 2018 “It’s still in the morning, it’s not a midnight special,” President Cyril Ramaphosa jested ahead of his speech at the Union Building last month to unveil the contents of government’s economic stimulus and recovery plan. While obviously light-hearted, the quirky introduction is important for two... 

SARB keeps repo rate unchanged at 6.5% 

By: News24Wire      20th September 2018 The South African Reserve Bank announced on Thursday afternoon that it will keep the repo rate unchanged at 6.5%.  The announcement was made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria.  

Interest rates likely to stay unchanged as economy struggles

By: African News Agency      20th September 2018 South Africa's central bank is likely to keep interest rates unchanged on Thursday despite inflationary pressures stemming largely from a weaker rand, hamstrung mostly by concerns over the ailing economy. The economy slipped into a recession after gross domestic product contracted by 0.7 percent... 

Oxford’s African Studies Centre to inaugurate International Advisory Board in Oct

By: Marleny Arnoldi     12th September 2018 Oxford University’s African Studies Centre will inaugurate its International Advisory Board (IAB) on October 12, which is set to establish stronger ties with African governments, as well as leaders in business, finance, diplomacy and the arts. Supermarket chain Pick n Pay chairperson Gareth... 

Business confidence falls amid uncertainty

By: Marleny Arnoldi     12th September 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) declined by 4.2 index points in August to 90.5, compared with 94.7 in July. The BCI, nevertheless, remained 0.9 index point above the level of 89.6 recorded in August 2017.  

Standard Bank PMI falls to 29-month low in August

By: Marleny Arnoldi     5th September 2018 Operating conditions in South Africa’s private sector economy deteriorated for the second straight month in August, as business activity and input purchasing decreased in line with an accelerated drop in new orders, says Standard Bank in its Purchasing Managers’ Index (PMI) for August.... 

South Africa in recession for first time since 2009; rand slumps

By: Reuters     4th September 2018 South Africa entered recession in the second quarter for the first time since 2009, data showed on Tuesday, in a stinging blow to President Cyril Ramaphosa's efforts to revive the economy after a decade of stagnation. Statistics South Africa said the economy contracted by 0.7% quarter-on-quarter,... 

Sars shortfall to blame for VAT hike – Treasury 

By: News24Wire      29th August 2018 Treasury would not have needed to increase value added tax by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (Sars), deputy director general at National Treasury Ismail Momoniat told the Nugent Commission of Inquiry on Wednesday.... 

PwC focus on women economists

29th August 2018 When seeing is believing: How SA’s top female economists foster gender parity in their profession When the girl child and young woman encounters few, if any, examples of female economists in her environment, a career in economics may not even cross her mind. But, female role models can negate the... 

Sibanye expects Lonmin competition finality October 

By: Martin Creamer     27th August 2018 Precious metals mining company Sibanye-Stillwater expects Competition Commission finality on its proposed acquisition of platinum company Lonmin in October, following the closure of its transaction with surface gold mining company DRDGold, which is expected to make a positive contribution to... 

Uncertainty over land expropriation to deter investment – IHS Markit

By: Marleny Arnoldi     24th August 2018 The threat of land expropriation without compensation (EWC) is likely to deter investment up until the 2019 elections and a while afterwards, says global information provider IHS Markit. “Uncertainty over property rights is likely to deter fixed investment, limit government revenue and lower... 

One in three chance of South Africa recession this year

By: Reuters     23rd August 2018 South Africa's economy probably struggled to gain traction in the second quarter after shrinking at the start of 2018, according to a Reuters poll of economists who said there was a one in three chance of recession this year. Around 30 economists polled expect Africa's second-largest economy to... 

Mint Directors Conference to reach South African shores in 2020

By: Simone Liedtke     20th August 2018 The biennial Mint Directors Conference (MDC) will return to South African shores in 2020, says South African Reserve Bank (SARB) subsidiary, the South African (SA) Mint. The event, which is expected to attract more than 300 guests, will be held in both Cape Town and Pretoria, in April 2020. 

Leftists rattle rand with plan to nationalise South Africa's SARB

By: Reuters     17th August 2018 Opposition firebrand Julius Malema introduced a bill to nationalise South Africa's central bank, raising pressure on the ruling ANC to go through with a plan it shelved this year and rattling markets wary of threats to the institution's independence. The rand fell more than 1 percent overnight... 

Hawks investigate cases related to Gupta-loot worth more than R40bn

By: News24Wire      16th August 2018 The Hawks are investigating cases related to the Guptas' state capture project that involves more than R40 billion which has been plundered from state coffers. Lieutenant General Godfrey Lebeya presented the Hawks' progress in several cases of state capture to the Portfolio Committee on Police on... 

South Africa's 2018 growth to be 'much lower' than initial forecasts – SARB

By: Reuters     15th August 2018 South Africa's economic growth this year will be "much lower" than initial expectations, the South African Reserve Bank (SARB) said in a presentation to Parliament on Wednesday, calling any recovery "weak and choppy". The SARB added that fixed investment was not expected to pick up meaningfully... 

Mining production increases 2.8% y/y in June

By: Marleny Arnoldi     14th August 2018 Mining production increased by 2.8% year-on-year in June, from a 1.8% decline in May, with the largest positive contributor being platinum group metals (PGMs), which rose by 28.2% and contributed 5.9 percentage points, says Statistics South Africa (Stats SA). Other positive contributors were... 

Rand rebounds two percent as Turkey-led rout eases

By: Reuters     14th August 2018 South Africa's rand gained more than 2% on Tuesday, bouncing off a two-year low struck a day before, when investors dumped emerging market assets because of fears over the Turkish economy. At 0705 GMT, the rand traded at 14.0800 versus the dollar, around 2.3% stronger on the day and more than 11%... 

SARB 'nowhere near' intervention on rand – deputy governor

By: Reuters     13th August 2018 The South African Reserve Bank was surprised by the magnitude of the rand weakness early on Monday but forex market conditions where "nowhere near" requiring the bank to intervene, deputy governor Daniel Mminele told Reuters. The rand slid more than 10% to a two-year low against the dollar in... 

SARB does not see Q2 economic contraction

By: Reuters     27th July 2018 South African Reserve Bank (SARB) Governor Lesetja Kganyago said on Friday he does not expect economic growth to contract in the second quarter, after a 2.2% contraction in the first quarter of this year. Africa's most industrialised economy grew by 3.1% in the final quarter of 2017, but... 

SARB’s reduced economic growth forecast ‘troubling’ – Parsons

By: Marleny Arnoldi     20th July 2018 The announcement by the South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MCP) that it has reduced its forecast for South Africa’s gross domestic product growth for this year sends a troubling message, says North-West University business school economist Professor Raymond Parsons.... 

SARB keeps repo rate unchanged, downgrades growth projection

By: News24Wire      19th July 2018 The South African Reserve Bank's (SARB's) monetary policy committee has left the repo rate unchanged at 6.5% in a unanimous decision.  The announcement, made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria on Thursday afternoon, was in line with expectations of... 

Mandela centenary commemorated with banknotes and R5 coin 

19th July 2018 To commemorate late Statesman Nelson Mandela’s centenary, the South African Reserve Bank has launched commemorative banknotes and a R5 coin into circulation, depicting the most significant occasions in Mandela’s life. Marleny Arnoldi attended the launch. 

SA annual consumer inflation accelerates to 4.6 percent in June - stats agency

By: African News Agency      18th July 2018 South Africa’s annual consumer price inflation quickened to 4.6 percent in June from 4.4 percent in May, data from the national statistics agency showed on Wednesday. On average, prices increased by 0.4 percent between May and June, Statistics South Africa said. 

SARB launches commemorative Mandela notes, R5 coin for circulation

By: Marleny Arnoldi     13th July 2018 The South African Reserve Bank (SARB) on Friday hosted a commemorative occasion at Freedom Park, in Pretoria, to introduce a series of banknotes and a R5 circulation coin, in honour of what would have been former President Nelson Mandela’s one-hundredth birthday this year.  

SARB launches coins, banknotes that honour Madiba

By: Anine Kilian     4th July 2018 The South African Reserve Bank (SARB) has launched a public awareness campaign to introduce South Africans to a commemorative series of banknotes and a R5 circulation coin which honour the birth centenary of former President Nelson Mandela.  The commemorative banknotes and the R5 circulation coin... 

South Africa works on policy as fintech gives rise to innovation

By: Natasha Odendaal     3rd July 2018 South Africa’s complex financial technology (fintech) domain is in flux and morphing into never-seen-before services within every aspect of the financial sector, with regulators and policymakers working on a coordinated approach to policymaking that will leverage fintech innovation in a way that... 

South Africa funding to suffer from weak rand, high yields – Moody's

By: Reuters     3rd July 2018 South Africa will find it harder to raise funds and service its foreign debt after a worsening of external financing conditions in recent months due to a fall in the rand and rising bond yields, Moody's said on Tuesday. Moody's was the last of the top three major rating agencies to rate South... 

Current account deficit widens in Q1 as exports slump

By: Reuters     21st June 2018 South Africa's current account deficit widened more than expected in the first quarter to register its largest shortfall in two years as the trade balance swung to a deficit after a steep decline in exports, the central bank said on Thursday. Investor sentiment in South Africa picked up after... 

South Africa's GDP growth expected to hit 1.7% in 2018

By: Reuters     20th June 2018 South Africa's economy is expected to recover from a poor start this year, rescued by stronger growth in the rest of the world, a Reuters poll found on Wednesday. South African gross domestic product shrank 2.2% in the first quarter, led by a slowdown in agriculture and mining, after expanding... 

SARB launches commemorative Mandela banknotes

By: African News Agency      14th June 2018 The South African Reserve Bank (SARB) has said that it will be launching its first commemorative banknote series, in celebration of the first democratically elected president Nelson Mandela’s birth centenary.  These notes will cover all denominations - R10, R20, R50, R100 and R200 - and as part... 

Cash-in-transit heists could lead to losses of R470m, Parliament hears

By: News24Wire      14th June 2018 Cash-in-transit heists will lead to cash losses of R470-million this year if the current trend continues, the Portfolio Committee on Police heard on Wednesday. The meeting brought together a range of stakeholders concerned with cash-in-transit heists, including the South African Banking Risk... 

What is best? – Financial Emigration or Double Taxation Agreement

6th June 2018 Jonty Leon, Attorney and Financial Emigration Legal Manager and Claudia Aires, Head of Financial Emigration at Financial Emigration When it comes to choosing financial emigration (FE) or a Double Taxation Agreement (DTA), expatriates must understand that there can never be a one size fits all... 

SARB communications head resigns

28th May 2018 The South African Reserve Bank (SARB) on Monday announced the resignation of its head of communications Jabulani Sikhakhane. Sikhakhane’s last day at SARB is May 31 and chief of staff Bulelwa Boqwana will act as communications head until the vacancy is filled. 

First
Prev
1
2 Next Last

Latest News

more

Latest Videos

more

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close