| TELECOMMUNICATIONS |
| Telkom needs skills, not foreign investment - Minister |
| Embattled telecommunications group Telkom requires "skills and competency" to implement a turnaround plan, not foreign investment, Communications Minister Dina Pule said on Monday. In response to Parliamentary questions on Cabinet's decision to halt a proposed deal between South Korean telecommunications group KT Corp and Telkom earlier this year, the Minister reiterated that Telkom needed to find the "best and most suitable" solution to its current challenges. Full Article |
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| ELECTRICITY |
| Power buffer down to 1% of capacity |
| Power utility Eskom said on Monday power would be extremely tight during evening peak hours, with demand expected to reach its highest point this winter as a cold front sends a chill through much of the country. In a bi-weekly status update, Eskom said it had 36 580 MW of available capacity for the evening peak against forecast demand of 36 258 MW, leaving a buffer of less than 1%. Full Article |
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| SOLAR POWER |
| Solar water heater target exceeded – Peters |
| The Department of Energy (DoE) has installed over 281 000 solar water heaters (SWH) by the end of March, exceeding its target of 250 041 installations in the 2011/12 financial year, Energy Minister Dipuo Peters reported on Monday. Of the installed systems, 138 095 low-pressure units were targeted at the low-income market and 27 950 high-pressure units were rebated for the middle- to high-income market. Full Article |
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| SOLAR ENERGY |
| Minister outlines Upington solar park jobs potential |
| The planned solar park in Upington would create a significant number of construction and manufacturing jobs, which would not only benefit the Northern Cape, but also extend beyond the province, Energy Minister Dipuo Peters said on Monday. In response to a Parliamentary question from Cope MP Kenneth Sinclair regarding the potential economic value of the project, Peters said the 5 GW solar park could create almost 12 300 average yearly direct construction jobs over a nine-year construction... Full Article |
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| RAIL |
| Prasa can set localisation target higher, says DCD |
| The Passenger Rail Agency of South Africa (Prasa) could push the localisation requirements for its R123-billion fleet renewal programme over the next 20 years higher, believes heavy engineering specialist DCD. The company says Prasa's current draft tender allocates R5.1-billion a year over the next decade to train sets – of which bogies form one part – subject to 40% local content by year three of the tender and 65% by year seven. "Our new bogie demonstrates that we have the... Full Article |
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| DEVELOPMENT PLAN |
| Tshwane to table 2055 strategy by month-end |
| The City of Tshwane is preparing to kick off a four-decade "game-changing" development path when it tables its 'South Africa's Capital 2055' draft plan for public comment at the end of July. The long-term strategy framework, which would alter and redefine Tshwane's development path, aimed to ensure the development of an integrated, well-connected, well-governed, well-managed, modernised city, said executive mayor Kgosientso Ramokgopa on Monday. Full Article |
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| FLYING CAR |
| Flying car wraps up first phase of test programme |
| The production prototype of Terrafugia's Transition flying car has completed the first phase of its flight test programme. Phase 1 flight testing, conducted at Plattsburgh International Airport, in Plattsburgh, New York, allowed Terrafugia to check off many critical early testing objectives for the Transition programme. "It's a real airplane; we're flying it whenever we want, for as long as we want," says Terrafugia CEO Carl Dietrich. Test items accomplished include power-on... Full Article |
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| INDUSTRIAL ACTION |
| Numsa downs tools at Evraz Highveld |
| Workers belonging to the National Union of Metalworkers of South Africa (Numsa) on Monday embarked on industrial action at steel and vanadium producer Evraz Highveld's plant in eMalahleni over possible retrenchments. The JSE-listed company warned in May that it might reduce staff numbers as part of a fixed cost reduction initiative. Full Article |
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| ECONOMY |
| Slowdown in rapid-growth markets to be short-lived – E&Y |
| The 25 leading rapid-growth markets, of which South Africa is one, would remain the engines of global growth, with economic expansion of 4.9% forecast for this year, advisory firm Ernst & Young (E&Y) said in a report on Monday. It described the sharp slowdown in leading rapid-growth markets since the beginning of 2012 as a "temporary blip" and stated that growth would start accelerate in the second half of the year, picking up to 6% in 2013 and 6.5% in 2014. Full Article |
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| LEGISLATIVE ENVIRONMENT |
| One mining job benefits 26 others – Bafokeng study |
| For every one person who works on a mine in South Africa, 26 other people benefit, South Africa's second anti-mine-nationalisation research document finds. The 370-page study, which was funded by the mining-dependent Bafokeng community, follows the publication by the ruling African National Congress of the State Intervention In the Minerals Sector (Sims) document, which also rejects mine nationalisation. Full Article |
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| OIL & GAS |
| Shell abandons fight for Cove Energy |
| Royal Dutch/Shell on Monday abandoned the battle for control of gas explorer Cove Energy Plc, shocking investors and clearing the way for Thai rival PTT Exploration & Production to acquire it. Investors had anticipated a higher offer from one or both bidders and an auction process had been due to start this week. Full Article |
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| OIL & GAS |
| DRC oil discoveries could pose threat to stability – report |
| Renewed oil interest in the Democratic Republic of Congo (DRC) represented a "real threat" to the stability of that country, a report released by nongovernmental organisation International Crisis Group (ICG) has stated. The organisation warned that oil prospecting could nurture old resentments among local communities and could contribute to border tensions with neighbouring countries. Full Article |
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| AUTO INDUSTRY |
| Chrysler, Fiat to share MD in South Africa |
| The current CEO and MD of Chrysler South Africa (SA), Trent Barcroft, will also become CEO of Fiat Group Automobiles South Africa as part of ongoing cooperation between the two companies. The current MD of Fiat Group Automobiles South Africa, Oscar Rivoli, will take up a position within the Europe, Middle East and Africa region, and will be based in Turin, Italy. The announcement is the first South African corporate step in gaining synergies between the two companies, which share a common... Full Article |
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| ENERGY |
| UAE's TAQA gets $355m financing for Ghana project |
| Abu Dhabi National Energy Co (TAQA), a state-owned oil explorer and power supplier, secured a $355-million project financing and government approval to expand its power plant in Ghana, it said on Monday. TAQA, which is owned 75% by the government of Abu Dhabi, will expand the Takoradi 2 (T2) power plant's capacity from 220 MW to 330 MW, the firm said in a statement. Full Article |
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