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Business Articles
10:57 (GMT+2), Tue, Tuesday, October 07, 2014
Concern at latest business confidence index data   The SA Chamber of Commerce and Industry Business Confidence Index for September was released on Tuesday at the SACCI Offices in Rosebank, Johannesburg. The BCI increased by another 0.2 index points in September to 89.2 after improving by 1.1 index point in August 2014. Sacci says in a statement that although it appears that waning business confidence has been checked, business confidence remains at an undesirably... read more
11:32 (GMT+2), Mon, Monday, October 06, 2014
New Reserve Bank governor appointed  Lesetja Kganyago has officially been appointed as successor to outgoing SA Reserve Bank governor Gill Marcus. Kganyago's appointment was announced on Monday by President Jacob Zuma, flanked by Finance Minister Nhlanhla Nene, at a media briefing at the Union Buildings in Pretoria. He was one of two of Marcus's deputies, alongside Daniel Mminele. Kganyago will take over from Marcus next month. She will step down ... read more
11:56 (GMT+2), Tue, Tuesday, August 26, 2014
GDP grows by 0.6%  South Africa's economy grew by 0.6 percent in the second quarter of 2014, Statistics SA said on Tuesday. This was compared to a 0.6 percent decrease in the real Gross Domestic Product (GDP) in the first quarter of the year. The GDP is the total value of goods and services produced in an economy in a certain time period. The main contributors to the increase in the second quarter of 2014 were general government s... read more
16:50 (GMT+2), Wed, Wednesday, July 23, 2014
Multi-million rand upgrade for Greenacres The owners of Port Elizabeth's Greenacres Shopping Centre, ACUCAP, have announced plans to redevelop and upgrade the centre to the tune of R282 million. The first phase of the extension is to begin work next month on a newly designed food court. The other two phases will see the mall undergo entrance re-alignments, and an expansion and upgrade, running through to April 2016. Speaking at the media launch on Wednesda... read more
16:25 (GMT+2), Tue, Tuesday, July 22, 2014
Continental Tyre to invest millions in PE facility Continental Tyre South Africa says it will invest between R300 and R320 million in its Port Elizabeth facility this year. Engineering New quotes Marketing and Sales GM Shaun Uys as saying the focus will be on increasing energy efficiency as the electricity price in Port Elizabeth “has gone through the roof”. In addition, the funding will be for the expanded production of run-flat and 4x4 tyres, with the latte... read more
09:20 (GMT+2), Sat, Saturday, June 14, 2014
Standard and Poor’s lowers South Africa's long-term foreign currency credit rating Ratings agency Standard and Poor’s on Friday lowered South Africa's long-term foreign currency credit rating one notch, from BBB to BBB- minus. The agency says in a research update the downgrade reflects its expectation of lacklustre gross domestic product growth in South Africa, against a backdrop of relatively high current account deficits, rising general government debt, and the potential volatility and cost of ext... read more
07:31 (GMT+2), Wed, Wednesday, May 28, 2014
Stricter import requirements for SA citrus  The European Commission says stricter import requirements for South African citrus fruit to Europe have been endorsed. EU Commission spokesperson, Frederic Vincent, says these measures, adopted on Tuesday, are being taken to protect European crops from citrus black spot, a harmful plant disease not native to Europe. He says according to the new measures, citrus fruits imported from South Africa will be subject to ... read more
11:27 (GMT+2), Fri, Friday, May 16, 2014
Production of new C-class Mercedez Benz begins in East London  Production has begun of the next generation Mercedes-Benz C-Class at the Mercedes-Benz South Africa manufacturing plant in East London. MBSA's Markus Schäfer says with the new C-Class, they're taking automotive production in South Africa to the next level with an innovative portfolio of technologies. He says an increase in capacity on the plant's C-Class production line has had a ripple effect on the contribu... read more
08:07 (GMT+2), Thu, Thursday, April 24, 2014
Export contracts worth millions for EC companies   The Eastern Cape Development Corporation says it has facilitated export contracts for Eastern Cape companies to China of more than a billion rand in the first six months of the 2013/2014 financial year. The development financier says a total of 54 new and existing businesses were assisted with integrated export development support. Six Eastern Cape companies participating at a permanent trade fair in Ningbo, Chin... read more
07:16 (GMT+2), Tue, Tuesday, March 25, 2014
Massive capital expenditure by SA motor vehicle manufacturers  The seven major vehicle manufacturers in South Africa and a number of specialist truck producers will spend a projected R7.9 billion this year. The National Association of Automobile Manufacturers of South Africa said in a statement that capital expenditure in the area of product, local content, export investment and production facilities is projected to reach R7.9 billion this year, almost double the figure from last... read more
14:40 (GMT+2), Wed, Wednesday, March 19, 2014
Comair places $830m aircraft order  The South African company, Comair, has placed a $830m order for eight next-generation Boeing 737 MAX aircraft. The Boeing aircraft company says in a statement on its website that the order was the first for Boeing 737 MAX-aircraft on the African continent. Comair is the British Airways franchise partner in South Africa and also operates the continent's first low-cost airline, kulula.com. These airlines have regular... read more
16:46 (GMT+2), Mon, Monday, March 17, 2014
 Chinese company's plan to invest billions in the Eastern Cape The Department of Economic Development has welcomed an R18-billion proposed investment in the Eastern Cape by Chinese telecommunications infrastructure company DY-link. The investment announced at Coega on Monday has the possibility of creating 4600 jobs. DY-link group president, Alex Hu said the company was keen to implement their South African investment plan as soon as possible and that their aim was to reinforce and ... read more
17:05 (GMT+2), Wed, Wednesday, February 12, 2014
Stephen Dondolo and Clive Berlyn Eastern Cape investment company, African Pioneer, has taken a 22 percent stake in another home-grown company, Caltex Eastern Cape Marketers. The R15-million deal was announced today by African Pioneer's Stephen Dondolo and the CEO of Caltex Eastern Cape Marketers, Clive Berlyn. Both companies have substantial business investments in the Eastern Cape and through the partnership aim to grow their businesses in this provinc... read more
15:29 (GMT+2), Tue, Tuesday, January 14, 2014
Muted SACCI survey outlook for 2014 The SA Chamber of Commerce and Industry's (Sacci) 2013 annual survey shows a muted outlook for the year. However, there were better expectations, said Sacci CEO Neren Rau. "The escalating cost of doing business (including electricity costs and municipal levies) is currently the biggest concern of business (42 percent), followed by the related concept of regulatory compliance cost at 16 percent. "The third bi... read more
15:24 (GMT+2), Thu, Thursday, November 21, 2013
Finance MEC Pumulo Masualle tables mini budget Eastern Cape Finance MEC, Pumulo Masualle, says the recent industrial action in the automotive manufacturing sector had dampened growth prospects in the province. Presenting his Medium Term Budget Policy Statement and Adjustment Budget in Bhisho on Thursday, Masualle described the economic outlook for the province in the rest of the 2013/14 financial year as moderate. He said that over the "over the past five years ... read more
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