18 Jun 2013

Manufacturing

Banning, a bad idea

That's the message according to research released last week by Econometrix. The results show that a ban on alcohol advertising would cost nearly 12,000 jobs and almost R1.8bn in tax revenue.

The government has, as expected, dismissed the findings as one-sided etc, but one has to ask whether the full implications of banning alcohol advertising, Health Minister Aaron Motsoaledi's latest target, have been properly thought through.

Econometrix senior economist Rob Jeffrey said his research also revealed that there was no statistical relationship in South Africa between advertising expenditure and the consumption of alcohol.

Also on the government beat, the SA government wants an investigation into spy allegations made by a UK newspaper, which claims that SA delegates were among those who attended the 2009 Group 20 meeting who were put under surveillance.

The poorest of the poor are the first to suffer when food prices rise and now Agriculture, Forestry and Fisheries Minister Tina Joemat Pettersson says high prices are a threat to food security. Dead right - so what about doing whatever possible to not only keep commercial farmers on the land, stop landing them with wage bills they cannot sustain, and generally ensuring that we produce food here, rather than have to import it - because the latter will cost a great deal more.

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Rod Baker, Content Director

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Weekly top stories

Manufacturing up but stats may be distorted
Manufacturing production rose 7.0% year-on-year in April from a 2.2% year-on-year decline in March‚ data released by Statistics SA on Tuesday (11 June) revealed. Read more >>

Manufacturing
Create/update your MyBiz Profile on Bizcommunity and win!
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Manufacturing
Eskom can cut Billiton's power if it wants to
[Monde Maoto] Eskom has invoked its right to disrupt the power supply to BHP Billiton's aluminium smelters in the case of an emergency as demand by households showed signs it will exceed the state-owned utility's capacity to generate enough power this winter. Read more >>

Poultry importers head for court
The Association of Meat Importers and Exporters (Amie) will bring an application in the High Court in Pretoria on Tuesday (18 June) for information about an increase in chicken import duty costs. Read more >>

Steel market doldrums hurt BSI
[Mark Allix] BSI Steel's headline earnings per share plummeted 51% in the year ended March 31 amid declining steel consumption in the South African market. Read more >>

Wholesale trade sales keep rising
Wholesale trade sales at constant (2012) prices increased by 7.2% year-on-year (y/y) in April compared with a revised 0.5% (0.7%) y/y decrease in March‚ Statistics SA (Stats SA) data showed on Thursday (13 June). Read more >>

SA needs 'decisive' leadership now
A decline of business confidence in the manufacturing sector adds credence to calls for decisive leadership‚ the Manufacturing Circle said on Wednesday (12 June). Read more >>

RBCT helps 4.3m tons of coal leave SA
[Helmo Preuss] Richards Bay Coal Terminal (RBCT) - one of the world's largest leading coal export terminals - saw a 6% year-on-year (y/y) fall in tonnage shipped to 4.3m tons (Mt) after a 20.6% y/y surge to 6.2Mt in April. Read more >>

Investec both 'lender and investor' in farm
Construction of West Coast One, a 94MW wind farm near Cape Town, is expected to start as soon as the project's developers reach financial closure. Read more >>

Weak rand not all good for local manufacturers - Rabbie
According to some economists, as the rand weakens against the US dollar, the potential for local manufacturers to compete with imports grows. However, the situation is not that simple, says Lance Rabbie, financial director at Blue Strata, a South African integrated end-to-end import and working capital specialist. Read more >>

Employers perturbed by labour ban
The National Employers Association of SA (Neasa) on Wednesday (12 June) added its voice to organisations opposing a total ban of labour brokers. Read more >>

French car share project heads to Indy
CHICAGO, USA: A French electric car share programme has set its sights on the home of one of the top US racing events, Indianapolis. Read more >>

Manufacturing up but stats may be distorted
Manufacturing production rose 7.0% year-on-year in April from a 2.2% year-on-year decline in March‚ data released by Statistics SA on Tuesday (11 June) revealed. Read more >>


International

Airbus, Boeing battle it out for orders
LE BOURGET, FRANCE: Airbus led rival Boeing on Monday (17 June) in the opening battle for orders at the world's biggest air show, where Brazil's Embraer launched its new jets amid a range of different deals. Read more >>

VW gearbox fault prompts car recall
SYDNEY, AUSTRALIA: German car manufacturer, Volkswagen (VW) on Wednesday (12 June) recalled nearly 26,000 vehicles in Australia due to a gearbox problem that could cause cars to lose power on the road. Read more >>

US Senate approves US$955bn farm bill
WASHINGTON, USA: The US Senate approved a sweeping, nearly US$1trn farm bill that sets out agriculture policy for the next five years, including expansion of crop insurance and reduction of food stamps. Read more >>

India's car sales drop 12% in May
NEW DELHI, INDIA: Car sales in India slid by over 12% in May, data showed Tuesday (11 June), marking an unprecedented seventh month of decline as an industry body warned that layoffs now loomed in the once-booming sector. Read more >>


More International


Government

Beneficiation can promote industrialisation, jobs
Beneficiation can promote industrialisation and boost job creation, Trade and Industry Minister Rob Davies says, and added that it would ensure that more value was added to domestic mineral products before exporting them. Read more >>

dti participates in Tunis Medindustrie
Trade and Industry (dti) Deputy Minister Elizabeth Thabethe is scheduled to participate in the 3rd Tunis Medindustrie kicking off in Tunisia from today. Read more >>


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