Mondi expands Russian business

South African-based paper producer Mondi is expanding its international presence following its listing on the JSE at the beginning of the month, announcing a €525-million (about R5.1-billion) project to modernise and expand the pulp and paper mill in Syktyvkar, Russia.

Team to deal with power crunch

The South African Cabinet is to appoint team of officials from the ministries of minerals and energy, water affairs and forestry, public enterprises and trade and industry to develop a comprehensive Electricity Master Plan for the country.

Economy continues to grow

South Africa's gross domestic product at market prices increased at an annualised rate of 4,7 percent in the third quarter as the economy continues to grow.

Chinese bank invests in SA

China's largest bank, the Industrial and Commercial Bank of China, has offered to purchase a 20% stake in Standard Bank, South Africa's largest bank by assets and earnings, for US$5.5-billion, representing the largest foreign direct investment in the country to date.

Financial system remains strong

The South African financial system continued to be sound during the first half of the year, according to the latest edition of the Financial Stability Review, released by the SA Reserve Bank.

Aspen buys Latin American firm

South African generic drug maker Aspen Pharmacare is expanding its international presence by acquiring half of Strides Latina, a unit of India-based Strides Arcolab that operates mainly in Brazil, Mezico and Venezuela, for US$152.5-million (about R1.03-billion).

South Africa’s economy

The Absa Bank contact centre in Auckland Park, Johannesburg. (Image: Chris Kirchhoff, MediaClubSouthAfrica.com. For more free photos, visit the image library.) While much of the world...

Black economic empowerment

Black economic empowerment is designed to ensure South Africa's economy "builds on the full potential of all persons and communities across the length and...

Investing in the Western Cape

Economic development in the Western Cape is characterised by a broad sector base, with good growth potential in several major sectors, a range of significant niche sectors and a number of large new investment projects.

Oil production in South Africa

South Africa - an oil producing country? The opening of the Sable oil field, 150km southwest of Mossel Bay, has effectively tripled SA's oil production. Added to Sasol's coal-to-petroleum contribution, 45 000 barrels a day from Mossgas and 15 000 from PetroSA's two existing oilfields, it means that South Africa now produces roughly half of its petroleum needs.

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