This podcast is brought to you by Mitsubishi Fuso - you can rely on us.

Monday, September 15, 2008.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

The World Bank, Sweden and Japan will jointly finance Zambia's $100-million power upgrades and expansion projects. These are intended to shore up economic activity.

Kapil Kapoor, country manager for Zambia, said the board had already approved financing for power projects aimed at upgrading infrastructure to boost supply and distribution.

He said that the World Bank would provide 25% of the $100-million in a loan that has less than 1,0% interest. Japan and Sweden would give the rest in grants.

Kapoor said a portion of the funds would be used to buy solar panels, energy saving bulbs and equipment. This is in a bid to save power for productive sectors of the mineral-rich country.



Diversified aviation group 1time has agreed to buy a 77,5% stake in Safair Technical for 7,15-million dollars. The company is owned by Ireland's Aergo Capital. Aergo will retain the remaining 22,5% of shares of Safair Technical.

After the implementation of the acquisition, 1time plans to merge the businesses of Safair Technical and Aeronexus Technical, its aircraft maintenance services unit.

The acquisition will hold the added benefit that the merged maintenance business will be the major profit generator of the 1time group. It will also ensure that the scarce skills of the highly experienced employees of Safair Technical and Aeronexus Technical are retained in South Africa.

World-number-two platinum producer Impala Platinum announced on Friday afternoon that it is in discussions with South Africa's Mvelaphanda Resources and platinum-miner Northam Platinum. This is to create a "South African-controlled platinum champion".

In a separate statement, Mvela Resources and Northam cautioned shareholders that they had been approached by "interested parties which may result in an offer to acquire the entire issued share capital of Mvela Resources and Northam".

The transaction, if successful, would be South Africa's third biggest to date.

Also making headlines:

General Motors says that South Africa is seen as a high-cost location for vehicle manufacturing
The construction industry's contribution to GDP continues to grow
The UN says Africa is falling behind on its millennium development goals
Aflease Gold says that its Modder East production is to start late next year
Gold and silver is up over 2% on US financial jitters
And, Aquarius Platinum pours cold water on a Lonmin bid talk

In political news:

Somali Islamists threaten to shut down the Mogadishu airport
The US presidential hopefuls spell out their policies on China
Nato chief criticises the Russian troop pullout deal
And, Jacob Zuma calls Mbeki's administration a 'dead snake'

That's a round up of news making headlines today. For more on these and other stories, visit engineeringnews.co.za, miningweekly.com and polity.org.za