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‘Absolutely no need' for nuclear, Dames says in State-capture testimony ‘Absolutely no need' for nuclear, Dames says in State-capture testimony
Published: 18 Oct 17
Former Eskom CEO Brian Dames has revealed that he faced a breakdown in communication between the board and management, as well as death threats during his time at the state utility.  He has also told Parliament’s Portfolio Committee on Public Enterprises that there is "absolutely no need" for nuclear in South Africa and that the country cannot afford it.
South African egg output tumbles, jobs cut after avian flu
Published: 18 Oct 17
Commercial egg production in South Africa has tumbled 17% and over 1 000 workers have lost their jobs in the wake of an outbreak of avian flu in June, industry experts said on Wednesday. Commercial egg production per day has dropped to 17-million from 20.4-million after an outbreak of the H5N8 virus, the South African Poultry Association (SAPA) acting CEO Charlotte Nkuna said.
Economist warns of consequences of low growth, potential tax hikes Economist warns of consequences of low growth, potential tax hikes
Published: 18 Oct 17
It is well known that the South African economy is having serious growth challenges, which is unlikely to improve over the next three years, with best estimates that the country’s gross domestic product (GDP) will grow by just 2% during this period. This is according to financial services company Citibank South Africa chief economist Gina Schoeman, who on Wednesday addressed a media roundtable ahead of Finance Minister Malusi Gigaba’s inaugural Medium-Term Budget Policy Statement on October 25.
Opinion: No guarantee Zuma’s new ‘fission expedition’ will succeed Opinion: No guarantee Zuma’s new ‘fission expedition’ will succeed
Published: 18 Oct 17
We know for certain what President Jacob Zuma’s latest Cabinet reshuffle was not. It was not about South Africa, or about good governance. It was not about doing what is necessary to place the economy back on a growth trajectory. It was not about dealing with the triple scourge of poverty, inequality and unemployment. So, what is it about? It’s about the increasingly destructive fight for control of the African National Congress and cultivating a patronage network around what’s left of State resources. The removal of Blade Nzimande is the clearest signal of the former, while the appointment of David Mahlobo as the country’s third Energy Minister for 2017 is the surest sign of the latter.
VW's Seat abandons ambitions to enter Iranian market
Published: 18 Oct 17
Volkswagen’s (VW's) Spanish division Seat is no longer looking at the possibility of entering the Iranian car market, saying on Wednesday that it needed to concentrate instead on boosting growth in its core markets in Europe and other regions. The decision was not taken as a result of US President Donald Trump’s more confrontational policy towards Tehran, a spokesman for the company said.
Nigeria's SEC orders suspension of Oando's shares
Published: 18 Oct 17
Nigeria's Securities and Exchange Commission (SEC) said on Wednesday it had suspended trading in the shares of Oando after the regulator said it suspected insider dealing and discrepancies in the energy company's shareholding structure. The SEC ordered the Nigerian Stock Exchange to implement a 48-hour suspension on Oando stock dealing from Oct 18.
Chamber files for review of 'disastrous' Mining Charter Chamber files for review of 'disastrous' Mining Charter
Published: 18 Oct 17
The Chamber of Mines filed an application in the North Gauteng High court on Tuesday to have a judicial review and setting aside of the Mining Charter. According to the founding affidavit, the Charter released by Mineral Resources Minister Mosebenzi Zwane on June 15 had, and continues to have, a “disastrous effect” on the mining industry, including on investors and employees.
Icasa appoints new CEO
Published: 18 Oct 17
Willington Ngwepe has been appointed CEO of the Independent Communications Authority of South Africa (Icasa), after having served as acting CEO from July 7. This follows after the suspension of former CEO Pakamile Pongwana, in July. Icasa and Pongwana in August agreed to a “mutual separation”.
Europe aviation agency advises suspending use of Kobe Steel products
Published: 18 Oct 17
Europe's aviation regulator has advised aircraft manufacturers to suspend using parts from Kobe Steel until their legitimacy can be proved, following revelations about data cheating at the Japanese company. The European Aviation Safety Agency (EASA) said the concern was not serious enough at this stage to warrant an airworthiness directive setting out compulsory measures.
‘You are too late’ – Dames on State capture inquiry ‘You are too late’ – Dames on State capture inquiry
Published: 18 Oct 17
Former Eskom chief executive Brian Dames told Parliament’s State capture inquiry on Wednesday that while the process is a great move, it was too late. “You are too late,” he said. “You should have done this a long time ago.”
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