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South African aircraft maintenance company to set new record this year for heavy checks

Published: 19 Jun 24

South African aircraft maintenance, repair and overhaul (MRO) concern, ExecuJet MRO Services South Africa, announced on Wednesday that it was on course to establish a new company record for airframe heavy maintenance checks this year. The enterprise specialises in business (also called executive) aircraft MRO services, and is a wholly-owned subsidiary of renowned French aerospace group Dassault Aviation. The new record that will be set this year will be for at least 11 airframe heavy maintenance checks. The South African company’s previous record was for seven such checks in a single year.

Only 40% of developing-country utilities are financially sustainable, World Bank warns

Published: 19 Jun 24

The majority of electric utilities in developing countries are ill-equipped to meet growing demand for power and add more renewable energy into the grid, thereby hindering global energy transition goals to provide clean, reliable and affordable electricity to all, development cooperation organisation the World Bank reports. 'The Critical Link: Empowering Utilities for the Energy Transition' report, published this week, showed that only 40% of developing country utilities are able to cover their operating and debt service costs.

Corobrik sets out plans for its Rietvlei operations

Published: 19 Jun 24

Brickmaker Corobrik has outlined its plans for accessing prime clay at its Rietvlei operations, assuring that while it needs to remove coal deposits, it has no intention of becoming a coal producer. Natasha Odendaal has the story.

WEF Energy Transition Index at its highest ever, but global progress slowing

Published: 19 Jun 24

The global energy transition to a more equitable, secure and sustainable energy system is still progressing, but has lost momentum in the face of increasing uncertainty worldwide, international economic organisation the World Economic Forum's (WEF's) Energy Transition Index (ETI) 2024 shows. The global average ETI scores reached a record high, but the slowdown in the pace of the global energy transition, first identified in 2022, has intensified in the past year.

South African inflation stable but still above central bank objective

Published: 19 Jun 24

South African inflation was stable in May, data showed on Wednesday, but analysts do not expect interest rate cuts any time soon as it remains above the central bank's desired level. Headline consumer inflation came in at 5.2% year on year in May, the same as in April, in line with the forecast of economists polled by Reuters.

Fruit and vegetables being sold at market

South Africa finds high prices, lack of competition in its fresh produce market

Published: 19 Jun 24

South Africa's competition watchdog has uncovered barriers to entry, distorted competition and price mark-ups in its fresh produce market, according to a provisional report released on Tuesday after an inquiry. Last year the Competition Commission launched the Fresh Produce Market inquiry in order to examine whether any features in the fresh produce value chain impede, restrict or distort competition in the market.

Latest Cesa survey highlights urgency of joint public, private effort on infrastructure

Published: 18 Jun 24

Consulting Engineers South Africa (Cesa) on Tuesday released its Bi-Annual Economic and Capacity Survey (BECS) findings, revealing a stark 22% decline from July to December of 23, marking the lowest level since 2019, at 32. The ongoing downturn persisted into early 2024, dropping further to 30 amid political uncertainty, corruption, and infrastructural constraints, according to Cesa.

Telkom achieves stronger 2024 financial results

Published: 18 Jun 24

JSE-listed Telkom on Tuesday posted an improvement in its financial results for the year ended March 31, 2024, supported by its next-generation offerings and cost-optimisation efforts. The group reported a 5.2% increase in normalised earnings before interest, tax, depreciation and amortisation (Ebitda) of R10-billion during the year under review, owing to stronger operational performance and cost-optimisation initiatives.

Botswana may fall short of 4.2% growth target

Published: 18 Jun 24

Botswana's economy may fall short of the government's 4.2% growth target for this year, a senior central bank official said on Tuesday, citing global and domestic constraints. Finance minister Peggy Serame made the projection for a 4.2% increase in GDP in a budget speech in February, saying the government expected growth to accelerate from 2023 due to an improved performance in the diamond sector. Gross domestic product grew 2.7% in 2023.

Malaysia is planning to join BRICS, PM says

Published: 18 Jun 24

Malaysian Prime Minister Anwar Ibrahim said that the Southeast Asian nation will join the BRICS economic bloc, becoming the latest country to take part in an expanding group seen challenging the western-led global order. “We have indicated as a policy that we are” joining, Anwar said in an interview with the Chinese news outlet Guancha aired ahead of a scheduled visit by Chinese Premier Li Qiang to Malaysia. “We have made a decision. We are placing the formal procedures soon.”