DIRS.INFO The most relevant business & tech news

☆ South African cities scramble to keep the lights on
▼ + stars: | 2023-02-21 | by ( Carien Du Plessis | ) www.reuters.com time to read: +4 min

Officials plan to procure up to 500 megawatts (MW) from private power companies by 2026 to provide roughly a third of the city's annual 1,500-1,800 megawatts (MW) electricity needs. [1/5] A woman tests LED lights on a solar panel at their factory called Ener-G-Africa, where they produce high-quality solar panels made by an all-women team, in Cape Town, South Africa, February 9, 2023. The neighbouring Ekurhuleni municipality has signed deals with 46 private power companies for 700 MW, according to its 2020/2021 annual report. Hill-Lewis said Cape Town also plans to change its energy policy to allow households and businesses that produce solar power to sell the excess to the city. In Cape Town, for those wanting to sell excess power to the city, a 12,000 rand feed-in meter is required.

☆ South Africa's Eskom ramps up power cuts to 'Stage 6'
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 19 (Reuters) - South Africa's state power utility Eskom on Sunday said it would implement "Stage 6" power cuts continuously until further notice due to breakdowns of eight generation units on Sunday afternoon. Further changes on the stages of loadshedding at short notice are possible given the high number of breakdowns, Eskom said in a statement. Eskom has been implementing the worst rolling blackouts in South Africa on record, leaving households in the dark, disrupting manufacturing and hurting businesses of all sizes, leading to President Cyril Ramaphosa declaring a national "state of disaster" earlier this month over his country's crippling power shortages. The "Stage 6" power cuts, the worst outage level on record, require up to 6,000 megawatts to be shed from the national grid, and mean up to 10 hours a day without power for some South Africans. Reporting by Jyoti Narayan in Bengaluru, Editing by Angus MacSwan and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

☆ South Africa declares national state of disaster over floods
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Feb 13 (Reuters) - South African President Cyril Ramaphosa has declared a national state of disaster to enable an intensive response to widespread flooding that has affected seven of the country's nine provinces. Invoking the national disaster act gives the government additional powers, including in the procurement and delivery of goods and services and the ability to bypass restrictions under current law. The national police and defence force may be called on to help respond to the flooding, the statement said. Ramaphosa declared a national state of disaster last week over South Africa's power crisis, as daily rolling power cuts are paralyzing businesses. The national disaster act was also invoked in March 2020 to deal with the coronavirus pandemic, and last April to respond to floods in the eastern province of KwaZulu-Natal.

London CNN —South Africa’s President Cyril Ramaphosa has declared a national state of disaster in response to the country’s drawn-out energy crisis, calling it “an existential threat” to Africa’s most developed economy. Blackouts in South Africa — or load-shedding as they’re known locally — have been lasting for as long as 12 hours a day. Dwayne Senior/Bloomberg/Getty ImagesRamaphosa said Thursday that the national state of disaster would begin with immediate effect. Eskom has very little backup power, which makes it difficult to take units offline to perform crucial maintenance work. Years of mismanagement and systematic corruption are believed to be the key reasons why Eskom has been unable to keep the lights on.

☆ South Africa President Declares State of Disaster Over Power Cuts
▼ + stars: | 2023-02-09 | by ( Alexandra Wexler | ) www.wsj.com time to read: 1 min

JOHANNESBURG—South African President Cyril Ramaphosa on Thursday declared a national state of disaster over the country’s rolling power cuts and said he would appoint a minister of electricity to oversee the response to the outages, which have reached new records in recent weeks. The power cuts—caused by constant breakdowns and lengthy maintenance shutdowns affecting South Africa’s aging fleet of coal-fired power stations—have left households and businesses without electricity for as much as 11 ½ hours a day over the past three months.

[1/4] South African President Cyril Ramaphosa speaks during his 2023 state of the nation address in Cape Town, South Africa, February 9, 2023. "We are in the grip of a profound energy crisis," Ramaphosa said in his annual State of the Nation Address to parliament. State electricity utility Eskom is implementing the worst rolling blackouts on record, leaving households in the dark, disrupting manufacturing and hurting businesses of all sizes. Declaring a national state of disaster gives the government additional powers to respond to a crisis, including by permitting emergency procurement procedures with fewer bureaucratic delays and less oversight. Ramaphosa said on Thursday he would appoint a minister of electricity within the presidency to focus solely on the crisis.

☆ South Africa's consumer goods firms warn of much higher prices as power cuts bite
▼ + stars: | 2023-02-08 | by ( Nqobile Dludla | ) www.reuters.com time to read: +2 min

[1/2] A shopper looks for goods during an electricity load-shedding blackout in Johannesburg, South Africa, February 12, 2019. Food, consumer goods companies and retailers in South Africa are cranking up diesel generators and spending more on back up power supplies, adding to the pressure from soaring costs for raw materials, transportation and packaging. In an open letter to President Cyril Ramaphosa, the chief executives of member companies of the Consumer Goods Council of South Africa pleaded for urgent and decisive action from the government to solve the power crisis. Shoprite has said its additional spend on diesel to operate generators amounted to 560 million rand ($32 million) in the six months to Jan.1. Supermarket group Pick n Pay (PIKJ.J) spent 346 million rand in the 10 months to Dec. 25 to run generators, and is currently spending about 60 million rand per month.

☆ Sri Lanka marks independence anniversary amid economic woes
▼ + stars: | 2023-02-04 | by ( ) www.cnbc.com time to read: +3 min

Sri Lanka's President Ranil Wickremesinghe attends the the country's 75th Independence Day celebrations at Galle Face Green in Colombo, Sri Lanka February 4, 2023. COLOMBO, Sri Lanka (AP) — Sri Lanka marked its 75th independence anniversary on Saturday as a bankrupt nation, with many citizens angry, anxious and in no mood to celebrate. Cyril Gamini called this year's ceremony commemorating independence from British rule a "crime and waste" at a time when the country is experiencing such economic hardship. Sri Lanka is effectively bankrupt and has suspended repayment of nearly $7 billion in foreign debt due this year pending the outcome of talks with the International Monetary Fund. A group of activists began a silent protest on Friday in the capital, condemning the government's independence celebration and failure to ease the economic burden.

☆ Top U.S., Chinese and Russian officials tour Africa as global charm offensive gathers pace
▼ + stars: | 2023-01-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +12 min

Janet Yellen, US Treasury secretary, during a news conference with Enoch Godongwana, South Africa's finance minister, at the National Treasury in Pretoria, South Africa, on Thursday, Jan. 26, 2023. Yellen met with South African officials including President Cyril Ramaphosa last week, just days after the country's Foreign Minister Naledi Pandor stood alongside Lavrov and vowed to strengthen bilateral relations between Pretoria and Moscow. South Africa was one of 17 African nations to abstain from the U.N. vote in March to condemn Russia's war of aggression. As such, many African nations desire a strong relationship with both the U.S. and China, and U.S. diplomacy will be more effective when not framed as an "us-or-them" proposition. What's more, the BRI projects were "largely uncoordinated and unplanned," he said, with competing Chinese lenders offering credit to African nations, challenging the notion of a coherent centralized "debt trap" policy from Beijing.

☆ Central banks are fighting a war on inflation. They're not done yet
▼ + stars: | 2023-01-31 | by ( Julia Horowitz | ) edition.cnn.com time to read: +6 min

London CNN —One of the main jobs of central banks is to keep prices under control, allowing households and businesses to plan for the future with some certainty on what things will cost. Tolga Akmen/EPA-EFE/ShutterstockPolicymakers face difficult questions about exactly when to pause interest rate hikes. The European Central Bank’s main rate is 2%, while the Bank of England’s is 3.5%. Still, investors are becoming increasingly confident that major central banks will change course soon. “Central banks are relatively close to the end,” Sels said.

☆ Janet Yellen Warns South Africa About Breaching Russia Sanctions
▼ + stars: | 2023-01-27 | by ( Andrew Duehren | ) www.wsj.com time to read: 1 min

EMALAHLENI, South Africa—Treasury Secretary Janet Yellen warned South African officials about the consequences of violating U.S. sanctions, as the Biden administration tries to balance its response to Russia’s invasion of Ukraine with a broader effort to deepen ties with African governments. Ms. Yellen and some of her senior international-affairs and sanctions staff have been meeting this week with top South African officials, including President Cyril Ramaphosa , on the final stop of a three-country tour in Africa. The trip, which overlapped with visits to Africa’s most developed economy by the foreign-policy chiefs of both Russia and the European Union, comes after U.S. officials raised concerns over the South African government’s ties to Moscow.

☆ Yellen to meet with donors, private sector on South Africa's energy transition
▼ + stars: | 2023-01-27 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

[1/3] U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, January 26, 2023. The United States, Britain, France, Germany and the European Union backed South Africa's "Just Energy Transition Partnership," or JETP, in late 2021 with a combined $8.5 billion, but the total cost could be ten times that high. "The United States' commitment to the energy transition being 'just' is firm. That is why President Biden made an additional commitment to President Ramaphosa of $45 million in grant funding to support South Africa’s efforts," Yellen said. But President Cyril Ramaphosa's plan to transition South Africa away from coal and towards renewable energy has divided the governing African National Congress (ANC).

☆ Yellen says South Africa needs action to maintain energy transition momentum
▼ + stars: | 2023-01-27 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

[1/3] U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, January 26, 2023. REUTERS/Siphiwe SibekoJOHANNESBURG, Jan 27 (Reuters) - South Africa needs concrete action soon if it is to maintain momentum on an energy transition program backed by the United States and other countries, U.S. Treasury Secretary Janet Yellen said on Friday after visiting the coal mining region of Mpumalanga. She expressed hope that Washington's focus on a just energy transition would underpin donor interest in backing the nearly $100 billion project aimed at supporting South Africa's gradual phasing out of fossil fuels. The United States, Britain, France, Germany and the European Union have backed South Africa's "Just Energy Transition Partnership" with a combined $8.5 billion, which Yellen called a "substantial down payment" designed to mobilise additional money. "An energy transition that is not just will simply not work.

Remains found last week have been identified as those of a missing 4-year-old Oklahoma girl, authorities said Thursday. The state bureau said Thursday that the Oklahoma Office of Chief Medical Examiner positively identified the remains as Athena. Oklahoma State Bureau of Investigation via FacebookOn Jan. 16, investigators said their search had shifted to a “recovery operation” to find her remains. The remains were found outside of Rush Springs, about 16 miles southeast of Cyril, in neighboring Caddo County, the state bureau said. Cyril is a town about 65 miles southwest of Oklahoma City in Caddo County.

[1/4] U.S. Treasury Secretary Janet Yellen and South Africa's Finance Minister Enoch Godongwana attend media briefing ahead of bilateral talks, at the treasury offices in Pretoria, South Africa, January 26, 2023. He said Yellen's visit was a "momentous" occasion, noting the previous visit by a U.S. Treasury secretary was in 2014. South Africa has remained one of Moscow's most important allies on a continent divided over Russia's invasion of Ukraine on Feb. 24 last year. The Treasury secretary, who meets with South Africa's central bank governor later on Thursday, singled out South Africa's "Just Energy Transition Partnership," which was backed in late 2021 by the United States, Britain, France, Germany and the European Union. They pledged a combined $8.5 billion to accelerate South Africa's transition away from fossil fuels to renewable energy, but the total bill will be much higher.

☆ Russia, South Africa and a 'redesigned global order': The Kremlin's hearts and minds machine is steaming ahead
▼ + stars: | 2023-01-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +9 min

Russian Foreign Minister Sergei Lavrov visited Pretoria as part of an African tour, his second since the invasion, which will also reportedly take him to Botswana, Angola and Eswatini. On Feb. 24 2022, shortly after the Ukraine invasion, South Africa urged Russia to immediately withdraw its forces from Ukraine. South Africa was one of 15 African nations to abstain from the subsequent U.N. vote in March to condemn Russia's war of aggression. watch nowShe emphasized the multilateral responsibilities of the BRICS (Brazil, Russia, India, China and South Africa) bloc of leading emerging economies in a changing global landscape. White House Press Secretary Karine Jean-Pierre said Monday that "the United States has concerns about any country … exercising with Russia as Russia wages a brutal war against Ukraine."

☆ Russia's Lavrov visits ally South Africa amid Western rivalry
▼ + stars: | 2023-01-23 | by ( Carien Duplessis | ) www.reuters.com time to read: +3 min

[1/2] South Africa's Foreign Minister Naledi Pandor shakes hands with Russia's Foreign Minister Sergei Lavrov, ahead of their bilateral meeting in Pretoria, South Africa, January 23, 2023. Lavrov met his South African counterpart, Naledi Pandor, after flying in earlier in the day on a trip some South African opposition parties and the small Ukrainian community have condemned as insensitive. President Cyril Ramaphosa's government regards South Africa as neutral in the Ukraine conflict and has expressed a desire to mediate. The South African armed forces said last week the exercise is a "means to strengthen the already flourishing relations between South Africa, Russia and China". There was no official public comment from the Ukrainian embassy but officials said it had asked the South African government to help push President Volodymyr Zelenskiy's 10-point peace plan, which he proposed to the G20 in November.

☆ South Africa energy blackouts: Ramaphosa skips Davos to tackle crisis
▼ + stars: | 2023-01-18 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that is inflicting rolling blackouts on the continent’s most developed economy. At peak times, demand in South Africa averages between 28,000 MW and 34,000 MW. Electricity theft, including by impoverished townships in South Africa, and non-payment by municipal customers have made matters worse. Despite an abundance of sunshine and wind, South Africa still derives about 80% of its electricity from coal. South Africa’s National Energy Crisis Committee, a body run out of Ramaphosa’s office, has proposed several measures to ease the crisis in the short term, including importing energy from neighboring countries and buying excess energy from private producers.

☆ Search for missing Oklahoma girl, 4, turns to 'recovery operation' to find remains
▼ + stars: | 2023-01-17 | by ( Chantal Da Silva | Chantal Da Silva Is A Breaking News Editor For Nbc News Digital Based In London. | ) www.nbcnews.com time to read: +2 min

The search for a missing 4-year-old girl in Oklahoma, who authorities believe was killed by her caregiver, has turned into a "recovery operation" to find her remains, officials said Monday. The announcement from the Oklahoma State Bureau of Investigation came after the couple who had been taking care of Athena Brownfield were charged in connection with her disappearance. Highway Patrol, troopers search a pond near Cyril, Okla., on Jan. 11, 2023, for Athena Brownfield, a 4-year-old girl missing since Jan. 10. His wife, Alysia Adams, 31, was arrested by the Grady County Sheriff’s Office on two counts of child neglect in connection with the case, the state bureau said. Athena's sister has been taken into protective custody, the state bureau said.

☆ Davos 2023: South Africa plans to end load-shedding in 12-18 months -finmin
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

DAVOS, Switzerland, Jan 16 (Reuters) - South Africa has a plan to improve energy provision that will end the need for any power cuts within the next 12-18 months, ITS Finance Minister Enoch Godongwana said on Monday. "Eventually in the next 12-18 months we will be able to say load-shedding is a thing of the past. That is the target," Godongwana, told Reuters on the sidelines of the World Economic Forum (WEF) in the Swiss resort of Davos. However, asked whether state-owned power utility Eskom could expect to be allocated more cash for diesel to help reduce the level of power cuts, he said: "I don't think Eskom has a diesel problem, I think Eskom has got a management problem." ($1 = 17.0312 rand)Reporting by Mark John; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

[1/2] A man walks beneath electricity pylons during frequent power outages from South African utility Eskom, caused by its ageing coal-fired plants, in Orlando, Soweto, South Africa, January 16, 2023. REUTERS/Siphiwe SibekoSummarySummary Companies Power cuts to become less severe from TuesdayDepends on generators returning to service as plannedEskom tells politicians power cuts to continue into 2024JOHANNESBURG, Jan 16 (Reuters) - South Africa's state-owned power utility Eskom said it would shorten power cuts from Tuesday morning as 14 generators come back on tap this week, but electricity shortages look set to continue at least into 2024. The past week has seen some of the worst power cuts on record in Africa's most industrialised nation, at least six hours a day for most households and often as much as 10 hours. The company implemented power cuts on more than 200 days last year, the most in a calendar year. The utility said it had procured an additional 50 million litres of diesel, which would be used to manage pumped storage dam levels and limit power cuts.

☆ Davos 2023: What you need to know about the WEF on Monday
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

DAVOS, Switzerland, Jan 16 (Reuters) - The World Economic Forum (WEF) returned to Davos for its first winter session in three years with high expectations. Soccer club Manchester United set out a dazzling shop front on the Davos high street, but insisted its lounge was to entertain clients and partners rather than to attract buyers. United's executive co-chairman Avram Glazer, a Davos regular, is expected to arrive later this week. Idris and Sabrina Elba are one of the recipients of this year’s prestigious Crystal Awards. "We are here at Davos to highlight the people and countries who are not making the headlines as much as my husband," said Sabrina Dhowre Elba, looking at her partner.

☆ South African rand slumps as power crisis takes centre stage
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

JOHANNESBURG, Jan 16 (Reuters) - The South African rand slumped on Monday as investor concerns mounted over a power crisis that prompted President Cyril Ramaphosa to cancel a trip to the World Economic Forum in Davos. The South African rand traded at 17.0775 against the dollar at 1230 GMT, about 1.4% weaker than its previous close. Shaun Murison, senior market analyst at IG, said softer prices for South African exports were also weighing on the rand. Later this week South African mining output (ZAMNG=ECI) and retail sales (ZARET=ECI) for November are due, as well as December consumer inflation (ZACPIY=ECI). The South African government's benchmark 2030 bond was weaker, with the yield up 13 basis points to 9.895%.

☆ South Africa's president to skip WEF to deal with crippling power cuts at home
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Jan 15 (Reuters) - South African President Cyril Ramaphosa will no longer attend the World Economic Forum (WEF) in Davos due to the ongoing energy crisis in the country, his spokesman said on Sunday. Power cuts have worsened since Tuesday when struggling state utility Eskom said it would implement its worst-ever outages until further notice. The power cuts are a major source of public frustration with the governing African National Congress (ANC) and a brake on economic growth in Africa's most industrialised nation. "Currently the President is convening a meeting with leaders of political parties represented in parliament, NECCOM (National Energy Crisis Committee) and the Eskom board," Vincent Magwenya, presidential spokesman said. The beleaguered utility supplies the vast majority of South Africa's electricity, relying mainly on an ageing fleet of coal-fired power stations that are unreliable and prone to faults.

☆ Second caregiver is arrested after the disappearance of a 4-year-old Oklahoma girl
▼ + stars: | 2023-01-13 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

A second person was arrested in connection with the disappearance of a 4-year-old girl in Oklahoma, authorities announced Friday. He is waiting for extradition to Oklahoma, the Oklahoma State Bureau of Investigation said in a Facebook post. Oklahoma State Bureau of Investigation via FacebookAlysia Adams was arrested by the Grady County Sheriff’s Office on two counts of child neglect, the state bureau said. The agency said Thursday that Athena's sister was found outside Alysia Adams' home. The girl is in state protective custody and did not require medical care when she was found, agency spokesperson Brook Arbeitman said.

Search resuls for: "Cyril"

25 mentions found