AMSA reports first profit since 2010 on back of higher steel prices. Following years of sustained losses, steel producer ArcelorMittal South Africa (AMSA) reported a full-year profit in 2018, on the back of a 12% rise in average realised prices and a 5% increase in sale...

Business confidence index ‘virtually unchanged’ from December. The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) remained “virtually unchanged” at 95.1 index points in January, compared with the 95.2 points recorded for...

Transnet promises to ramp up efficiency. CAPE TOWN – Transnet has promised to deal with corruption and step up efficiency around its operations, which have taken a heavy knock over the past few years. “Over the past ten years, we have inje...

Sappi delivers strong Q1 performance despite difficult operating environment. Despite a difficult operating environment, diversified woodfibre company Sappi’s earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 15% year-on-year and its profit by ...

Nersa to make Eskom tariff decision before March 15. The National Energy Regulator of South Africa (Nersa) says it will make a ruling on Eskom’s heavily contested revenue application before March 15, but has not committed to a firm date for the release t...

Eskom’s own survival at risk should big hikes be permitted, EIUG warns. The Energy Intensive User Group (EIUG) has added its voice to the overwhelming chorus of societal opposition to Eskom’s latest tariff submission, warning on Tuesday that above-inflation hikes would hav...

Violent protests see Aveng Strabag JV terminate Mtentu bridge contract. The Aveng Strabag joint venture (ASJV) has decided to terminate the Mtentu bridge contract, in the Eastern Cape. The 1.1 km, 1.65-billion rand bridge forms part of the South African National Roads Agenc...

Eight senior Transnet execs issued with precautionary suspension letters. Eight senior executives at State-owned Transnet have been issued with letters of precautionary suspension resulting from past internal audit and forensic reports that were not implemented by management...

Busa calls for inflation-linked Eskom hikes until power market is restructured. Business Unity South Africa (Busa) has urged the National Energy Regulator of South Africa (Nersa) to suspend its methodology for setting power tariffs and to grant Eskom only inflation-linked increase...

Eskom warns of 20 billion rand losses this year and next, even after big hikes. State-owned electricity utility Eskom is warning that its loss for 2018/19 will be worse, at 20-billion rand, than the 15-billion rand loss it had projected earlier and that it will be followed by another big ...