South Africa needed to focus on energy efficiency because Eskom would not be able to meet demand for electricity from 2011, the state-owned company said in a presentation yesterday. “We do not have enough capacity to meet requirements,” said Brian Dames, Eskom’s chief operating officer for generation. “The country has to focus on how do […]
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'Slow' South Africa could lose Mercedes contract
Mercedes-Benz SA (MBSA) is facing a serious challenge from China, the US and possibly other countries over the contracts to produce the successor to the C-Class. Hansgeorg Niefer, MBSA’s president and chief executive, said yesterday it would be “extremely difficult” for MBSA and East London if the company was not awarded the contract to produce […]
Car sales surge as recovery speeds up
New vehicle sales have surged for the second month in a row, supporting evidence that consumer spending is on the mend as the economic recovery gathers momentum. Overall sales leapt 16,2% in the year to last month, accelerating from a 12% increase in January, as demand for passenger cars climbed, an industry body said yesterday. […]
Execs' earnings to be capped in bailouts
The Government aims to cap salaries and bonuses paid to executives of companies that are bailed out by the taxpayer. Economic Development Minister Ebrahim Patel said R1 billion had been set aside by the Industrial Development Corporation to assist companies in distress as a result of the recession. A number of conditions would be attached […]
New confusion over Malema's deregistration of firms
Allegations of forgery, arguments with journalists and mixed-up documentation were all given as reasons why Julius Malema is named as a director of companies that receive government tenders. At a press conference yesterday Malema’s lawyer, Tumi Mokwena, showed journalists photocopied proof that the companies and intellectual property registration office (Cipro) was in the process of […]
DA welcomes funds proposal for road maintenance
The Democratic Alliance on Tuesday welcomed Transport Minister Sibusiso Ndebele’s announcement that the department would look at ring-fencing funds to tackle the road infrastructure backlog. This was a measure the DA had repeatedly called for in the past — in the form of a dedicated road maintenance fund with funding sourced from the fiscus and […]
Orange Farm residents' demands 'reasonable' – Motshekga
The demands of Orange Farm residents are reasonable, ANC Chief Whip Mathole Motshekga said on Tuesday after meeting the community’s leaders. “Their demands are reasonable as you can see that projects are unfinished here and there’s sewerage in the streets. The ball is now in our court as government to address the issue,” he said. […]
S.Africa: ANC’s Phosa in defence of Hitachi deal
ANC treasurer-general Mathews Phosa says he has lived up to his promise by advising the ANC’s front company to divest its shares in a company benefitting from the electricity price hike. ANC front company Chancellor House owns 25percent of the shares of Hitachi Africa, which has a R38billion contract to install boilers in two new […]
S.Africa: Zuma must take stand on Zimbabwe – DA
Democratic Alliance parliamentary leader Athol Trollip on Monday urged President Jacob Zuma to use his upcoming official visit to the United Kingdom to take a decisive stand on Zimbabwe. Zuma is scheduled to leave for the UK on Monday, and Zimbabwe is expected to be high on the agenda. Trollip said Zuma needed to focus […]
Airports ready for World Cup influx
There will be an extra 120 000 flights over the World Cup period, the Airports Company said yesterday. At a briefing on the airports’ preparedness for the tournament, Acsa group manager of operations Andre Vermeulen said there had been an increase in the number of requests for more slots in June and July from commercial […]