TFR breached regulations – report Transnet Freight Rail breached regulations when it procured goods and services from consulting companies, according to a newspaper report. A forensic report compiled by auditors Nkonki found that the transgressions went unpunished costing the company millions, the Sowetan newspaper reported. Grim year for China’s exporters China’s economy grew 8.9% year-on-year in the fourth quarter of 2011, cooling from 9.1% in the third quarter, Bloomberg reported. The pace was the slowest rate in 10 quarters, but faster than analyst expectations of around 8.6%, and up 2% from the previous quarter on a seasonally adjusted basis. Government to bail Sanral out of hock The government intends to meet all the debt obligations of the SA National Roads Agency Limited (Sanral) following the indefinite postponement of the Gauteng e-toll project, according to Logan Maistry, the spokesman for transport minister, Sbu Ndebele. Africa continues to experience decline in FDI Despite turmoil in the world economy, global foreign direct investment (FDI) inflows rose by 17% in 2011, to $1.5 trillion, surpassing their pre-crisis average, based on preliminary Unctad estimates, the organisation said on Tuesday. FDI inflows increased in all major economic groupings – developed, developing and transition economies. Early estimates show that the share of inflows to Africa dropped by a further 0.6 % to a total of 3.6% of world FDI flows. SA/Moz company plans US$700-m sugar cane project Massingir Agro-Industial, a Mozambican-SA company, plans to invest US$700 million in a project to grow sugar cane in the Massingir district of Gaza province in southern Mozambique, according to the Mozambican press, reports macauhub.
