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Krugerrand demand resurgence anticipated to result in record sales Krugerrand demand resurgence anticipated to result in record sales Has Video
Published: 16 Aug 17
Increased demand for gold has supported sales of the gold bullion Krugerrands and this year is predicted to yield the highest sales since the 1980s, with an expected 15% to 20% increase on the 1.1-million ounces of the coins sold in 2016. This is according to precious metal smelting and refining complex Rand Refinery marketing executive head Richard Collocott, who was addressing the media during site visit to the company’s facility on the East Rand, on Wednesday, to mark the coins fiftieth anniversary.
Italtile FY sales, profitability below target
Published: 16 Aug 17
JSE-listed Italtile’s basic earnings a share rose by 3% to 90.3c, while headline earnings a share decreased by 1% to 85.7c for the year ended June 30. Revenue grew by 4% to R3.7-billion, while after-tax profit rose 3% to R880-million.
Global information security spending to reach $86.4bn in 2017
Published: 16 Aug 17
Worldwide spending on information security products and services will increase 7% year-on-year to $86.4-billion this year, driven by the business impact of security incidents and an evolving regulatory landscape. This spending is expected to grow further to $93-billion in 2018, the latest forecast from Gartner shows.
Emira on track to improve performance, despite difficult operating environment
Published: 16 Aug 17
Despite a challenging year, JSE-listed real estate investment trust Emira Property Fund says it has significantly improved vacancies across its portfolio to 5.3%, from 7% at its half-year, while having also renewed 77% of expiring space during the financial year to June 30.    Speaking at a presentation of the company’s results, in Johannesburg, on Wednesday, CEO Geoff Jennett said the South African operating environment had worsened and was set to remain tough, “but Emira is now on a much better footing to move forward and [improve] its performance for investors.”   He pointed out that the company’s substantial leasing progress took a lot of hard work. “We introduced several new solutions that respond well to the fiercely competitive market. Filling vacancies and retaining tenants is a top priority,” he said.    Rebalancing its portfolio, Emira sold 11 noncore properties – or around 4% of its total portfolio – at a 1.1% average premium to book value.
Manufacturing sector slows Q2 spending, Q3 outlook more promising Manufacturing sector slows Q2 spending, Q3 outlook more promising
Published: 16 Aug 17
While the manufacturing sector slowed its overall investment during the second quarter of the year, there are indications of a recovery in the third quarter, new data released by the Manufacturing Circle suggests. The latest Manufacturing Composite Investment Tracker (MCIT) shows continued – albeit decelerated – investment by the sector into the plant and equipment, research and development and human capital subindices, with the composite index dropping five points to 58 during the quarter under review.
CSIR lauds female researcher for obtaining doctorate in spatial statistics
Published: 16 Aug 17
Dr Sibusisiwe Khuluse-Makhanya has become the first black female researcher at the Council for Scientific and Industrial Research (CSIR) to obtain a PhD in spatial statistics.   Her PhD, which is titled ‘Spatial Statistical Modelling of Urban Particulate Matter’, was conferred at a graduation ceremony at the University of Twente, in the Netherlands.   The study looked into developing a framework for mapping the risk of exposure to poor air quality. The focus was on statistical methods to deal ...
Solidarity warns of ‘major impact’ should AMSA proceed with job cuts Solidarity warns of ‘major impact’ should AMSA proceed with job cuts
Published: 16 Aug 17
Trade union Solidarity has confirmed receipt of a Section 189A retrenchment notice from steel producer ArcelorMittal South Africa (AMSA) and has indicated that it will enter negotiations with the company to ensure alternatives to retrenchments are considered. On Tuesday, AMSA announced that it had initiated consultations with employees regarding a proposed business-restructuring programme that could result in job losses.
Parliamentary State capture probe hits first hurdle Parliamentary State capture probe hits first hurdle
Published: 16 Aug 17
The investigation into State capture by Parliament’s portfolio committee on public enterprises on Wednesday hit its first hurdle as it was confirmed to members that the legislature would not pay for an independent evidence leader. Acting chairperson Zukiswa Rantho told MPs she had asked the chair of chairs, Cedric Frolick, for an evidence leader for the probe, which has been extended to cover not only allegations of State capture at Eskom, but Transnet and Denel as well. But Parliamentary legal advisors then made a submission in which they claimed it would set a precedent if the task of evidence leader would be outsourced that the institution could not afford.
No agreement of sugar tax yet, says BevSA
Published: 16 Aug 17
The Beverage Association of South Africa (BevSA) on Wednesday, dismissed reports that there was an agreement on the Health Promotion Levy at the National Economic Development and Labour Council (Nedlac). BevSA is opposing the introduction of a 20% tax on sugary beverages, or what has been referred to as sugar tax, which government wants to implement in a bid to curb non-communicable diseases.
Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand
Published: 16 Aug 17
There is favourable demand for vanadium redox flow batteries (VRFBs), particularly in the utility and offgrid, as well as minigrid markets, with demand to peak in 2025 to 2030. This is according to recently concluded market studies, commissioned by Aim-listed Bushveld Minerals’ energy subsidiary Bushveld Energy, in conjunction with the Industrial Development Corporation (IDC), in the second half of 2016, to assess African VRFB demand and opportunities and global vanadium electrolyte demand and requirements.
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