Market News Page No. 455| Africa Business News

SA'S 'Big Five': Bold Priorities for Inclusive Growth

Focusing on South Africa's 'Big Five' growth opportunities could deliver significant GDP growth, create jobs and confound a rising sense of pessimism about the nation's future prospects. A new report released today by the McKinsey Global Institute and the global management consultancy's Johannesburg office, sets out a series of tangible measures - deliverable in the short to medium term - which could provide the means to reignite South Africa's.... Read more »

Posted on : Monday , 7th September 2015

ArcelorMittal to discuss closure of melt shop in Vereeniging

ArcelorMittal SA said on Monday it had "no option but to commence consultations" with stakeholders regarding the closure of its melt shop and forge at its Vereeniging specialised steel works. It also said it would review its unprofitable main Vanderbijlpark works and associated group corporate services, with a view to optimising structures and costs. This would be concluded by the end of October after consultations with all employees.... Read more »

Posted on : Monday , 7th September 2015

SAVA survey focused on phasing out of heavy metals

The Product Stewardship Programme (PSP) survey, conducted by the Southern African Vinyls Association (SAVA), focused on the levels of compliance of member companies with regards to the phasing out of heavy metals during the production process, as well as the recycling of PVC products. "One of the major objectives the local PVC industry had to meet this past year was the phasing out of potentially dangerous or hazardous heavy metals from.... Read more »

Posted on : Monday , 7th September 2015

Davies imposes steel tariffs with conditions

Trade and Industry Minister Rob Davies has come to the rescue of the beleaguered steel industry, approving a 10% ad valorem duty on certain imported steel products, which currently enter the country free of duty. Stringent conditions: His approval, however, is subject to certain stringent conditions - including that steel producers refrain from increasing prices for the products subject to the duty and that they honour their.... Read more »

Posted on : Monday , 7th September 2015

African firms invest in new tech to intensify global competition

THE rapid growth of the mining industry, especially in Central Africa, is being mirrored in the market for mining explosives and chemicals across Sub-Saharan Africa. Almost 65 percent of major and minor mining firms in the region indicated that they would increase expenditure on explosives and chemicals in 2015, thereby stimulating a tepid market environment. The mining industry has been propelled by relative political stability in.... Read more »

Posted on : Monday , 7th September 2015

Steel coatings firm appoints sales agent in Europe, Middle East & Africa

Tesla NanoCoatings and Norwegian Drilling Group have launched a new class of corrosion protection coatings targeting the oil and shipping industries. Corrosion in these industries is a major maintenance issue that can severely hamper operations. Tesla NanoCoatings' products utilize carbon nanotechnology to prevent corrosion and extend the life of oil platforms and equipment as well as ships. "We are very excited to partner with.... Read more »

Posted on : Monday , 7th September 2015

Uganda to restrict multinationals use of expats in oil sector

Dozith Abeinomugisha, assistant commissioner in the petroleum directorate at the Ministry of Energy and Mineral Development, told the newspaper that, basically, international oil companies (IOCs) would be banned from bringing expatriates into the country to occupy positions that qualified Ugandans can do. "We have coordinated with the Ministry of Internal Affairs to ensure that no expatriate will get a work permit unless he.... Read more »