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Trade tensions put global economic growth on a 'subpar' setting
Published: 21 May 19
Trade tensions have derailed the global economy, plunging it onto a low-growth track that’s clouded by risks, according to the OECD’s latest outlook. The report sticks to the gloomy tone long held by the Paris-based organization, which has warned that trade disruptions could ricochet throughout the world economy. Now that scenario has come to pass, with manufacturing production clobbered by tariffs, a sharp slowdown in investment, and confidence faltering.
SARB to keep repo rate unchanged and monitor inflation – economists
Published: 21 May 19
The South African Reserve Bank (SARB) is likely to keep the repurchase (repo) rate unchanged at 6.75% on Thursday while retaining a cautious policy stance given upside risks to the inflation outlook, economists have said. In March, the SARB's monetary policy committee (MPC) unanimously decided to keep the repo rate at which it lends to commercial banks unchanged as it cut its economic growth forecast. The MPC however warned of inflationary pressure in the months ahead stemming from increases in electricity tariffs, fuel prices and the rand exchange rate.
City of Cape Town allocates approximately R25m to give Fisherman’s Lane a facelift
Published: 21 May 19
The City of Cape Town on Tuesday said it has allocated approximately R25-million in its proposed budget over the next three years for the upgrade of the coastal infrastructure at Fisherman’s Lane at Strandfontein on the False Bay coastline. "The spring tides and wave action have left its mark on this popular fishing spot that has been a huge attraction to fisherman from all over the city. They’ve been visiting Fisherman’s Lane for decades, armed with rods and bait and loads of patience, hoping to catch line fish.
BHP polishes EV penetration forecast BHP polishes EV penetration forecast
Published: 21 May 19
Mining major BHP has polished its forecast for the uptake of electric vehicles (EVs) and what impact the shift to electric mobility will have on the copper and oil markets over the coming decades. The diversified mining company, which last week reaffirmed its commitment to supply the EV markets, has raised its ‘low case’ expectations for the market share of EVs to at least 7% of the light vehicle fleet by 2035 and 27% by 2050. This is up from the miner’s previous estimate of at least 5% and 21%, respectively.
Step inside Joburg's first plastic-free packaging store
Published: 21 May 19
The Refillery, Johannesburg’s very first plastic-free grocery store, is helping South Africans fill their pantries, while addressing the plastic pollution crisis. The store, owned and co-founded by Sam and Dom Moleta, opened its doors in Cedar Square, Fourways two months ago.
Nickel Mines finds funding, amends Ranger deal
Published: 21 May 19
ASX-listed Nickel Mines has secured an $80-million funding package from Decent Investment International Private, an associate of the company’s operating partner Shanghai Decent Investment, to fund its increased stake in the Ranger nickel project, in Indonesia. Nickel Mines in April this year announced plans to increase its shareholding in the Ranger project from 17% to 60%, ahead of first production, at a cost of $121.4-million.
Canadian miner Pure Gold starts trading on LSE Canadian miner Pure Gold starts trading on LSE
Published: 21 May 19
Canadian gold development company Pure Gold Mining on Tuesday made its debut on the LSE main market, in the UK, trading at 32.50p a share. The listing, which is alongside the company’s existing Toronto listing, will introduce Pure Gold to European and UK investors as it approaches the construction of the Madsen Red Lake gold mine, in Ontario.
Adani commits to invest Abbot Point water monitoring equipment
Published: 21 May 19
The Queensland government has ceased court proceedings against Indian major Adani relating to stormwater release during Cyclone Debbie in 2017, with Adani agreeing to invest in water monitoring equipment at the Abbot Point Operations. The Department of Environment previously claimed at the Abbot Point Operations released more floodwater to nearby wetlands than permitted during the cyclone.
Kaspersky Lab to open Rwanda office
Published: 21 May 19
Cybersecurity company Kaspersky Lab plans to open a new office in Kigali, Rwanda, to support the rapid growth of its business in East Africa. This strategic move will provide more room for development, as well as closer proximity to new partners in the region, allowing Kaspersky Lab to continue its expansion into the promising African market.   “Governments and enterprises across Africa need an integrated approach to complex threat detection and response as they fight cybercriminals who have ...
Amani takes an option on DRC project
Published: 21 May 19
ASX-listed Amani Gold has signed a memorandum of understanding (MoU) over a package of ten gold tenements in the Democratic Republic of Congo (DRC), known as the Gada gold project. The Gada project is located some 80 km from Amani’s own Giro project, with the company telling shareholders on Tuesday that the Gada project offered a significant material opportunity for value enhancement.
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