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LafargeHolcim Q2 profit beats forecasts, new CEO to join early
Published: 26 Jul 17
LafargeHolcim posted slightly better-than-expected second-quarter results on Wednesday as the world's biggest cement maker sought to put a scandal over payments to armed groups in Syria behind it. The Franco-Swiss company reported adjusted operating profit of 1.735-billion Swiss francs ($1.82-billion) for the three months ended June 30, slightly ahead of the average estimate of 1.714-billion Swiss francs in a Reuters poll.
Final decision on steel trade policy may have to wait, Trump tells WSJ
Published: 26 Jul 17
A final decision on a steel trade policy may have to wait until other top-priority issues on his agenda get addressed, US President Donald Trump told the Wall Street Journal in an interview on Tuesday. The administration would take time in making a decision on whether to block steel imports, Trump told the Journal, adding that "we don't want to do it at this moment".
Nepad advocates centralised bankable project information hub
Published: 25 Jul 17
The New Partnership for Africa's Development (Nepad) Infrastructure Project Preparation Facility (IPPF) is suggesting that a one-stop shop initiative – comprising a project hub and a help desk – be established to promote bankable projects in Africa, with the aim of increasing the accessibility of credible information for investors and to establish a regional, country-linked information hub. Nepad, an African Union planning body, suggested in a statement released Tuesday that the establishment of a centralised platform detailing bankable projects could list the projects, as well as outline their financial-readiness in terms of the transparency of their procurement practices, their tenure, risks, returns, the availability of co-financing and the depth of local capital markets, among other definitive factors.
Mpact launches R46m liquid packaging plant
Published: 25 Jul 17
Paper and plastics packaging company Mpact on Tuesday launched a R46-million liquid packaging plant at its Springs mill, in Ekurhuleni. The plant will recycle 25 000 t/y of liquid packaging products, which has so far seen limited beneficiation in South Africa.
US electric industry knew of climate threat decades ago – report
Published: 25 Jul 17
The US electric industry knew as far back as 1968 that burning fossil fuels might cause global warming, but cast doubt on the science of climate change and ramped up coal use for decades afterward, an environmental watchdog group said on Tuesday. The California-based Energy and Policy Institute, which opposes fossil fuels, cited documents it obtained. It said its research mirrors reporting conducted by InsideClimate News about Exxon Mobil’s early understanding of climate change, which triggered an investigation by New York’s Attorney General.
China iron-ore futures snap 3-day losing streak on robust steel sector
Published: 25 Jul 17
Chinese iron ore futures broke a three-day losing streak on Tuesday, showing strong gains as investors refocused on China's robust steel sector and as some of the world's biggest suppliers struggle to meet output targets. Hefty price gains in copper and nickel markets, closely linked to China's industrial and economic state of health, helped fuel iron ore's gains.
UP researchers join fight against avian flu
Published: 25 Jul 17
With four South African farms having been hit by the current bird flu outbreak, University of Pretoria (UP) researchers have joined the poultry industry and the Department of Agriculture, Forestry and Fisheries (DAFF) to contain the highly pathogenic avian influenza, or H5N8 variant of bird flu. Earlier this year, the first outbreak on South African soil was confirmed on a farm near Villiers, subsequently spreading to three other farms in Mpumalanga and Gauteng.
BMW says received no post-Brexit trade reassurances from UK over Mini investment
Published: 25 Jul 17
BMW did not receive any reassurances from the British government over post-Brexit trading arrangements as it made the decision to build its electric Mini at its Oxford plant, a spokesman said on Tuesday. On Tuesday the German carmaker said its plant in Oxford, England has been chosen as the location to produce an electric Mini in 2019, confirming an earlier Reuters report.
FNB, DTI pledge to make finance, incentive access easier for black industrialists FNB, DTI pledge to make finance, incentive access easier for black industrialists
Published: 25 Jul 17
As the Department of Trade and Industry (DTI) marks some successes with its Black Industrialists Programme, the department and financial institution First National Bank (FNB) have inked a deal that will pave the way for improved access to finance for black industrialists. A collaborative pledge, signed on Tuesday by Trade and Industry Minister Dr Rob Davies and FNB public sector banking CEO Kgosi Ledimo, will facilitate information-sharing on the DTI’s various incentive schemes, starting with the Black Industrialists Scheme (BIS).
Drought-hit Nairobi looks to filthy dam to keep business flowing
Published: 25 Jul 17
As residents of Nairobi's largest slum look for new sources of water amid lingering drought, they have seized on an unlikely one: An old 88-acre water reservoir full of sewage and trash, draped in water hyacinth. The Nairobi dam has been the capital's spare water reservoir in times of drought since the 1950s, but not a drop of it is usable now, as a result of heavy pollution.
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