News 17:00

BULLETIN 22 July 5 pm

Good afternoon. I am……..

In this bulletin:

# Standard Bank expects a possible interest rate hike this week
# Johnson concedes the Investigating Directorate Against Corruption solicited the Fadiel Adams affidavit against Khumalo
# And, Western Cape MEC Ivan Meyer urges businesses to apply for the export competitiveness programme

# Standard Bank expects the South African Reserve Bank’s Monetary Policy Committee to consider another interest rate increase when it meets this week. June inflation rose to five-percent from 4.5-percent in May, driven mainly by higher fuel prices and public transport costs, leaving inflation well above the Reserve Bank’s three-percent target. The bank’s Elna Moolman says any increase is likely to mark the peak of the current rate hiking cycle:

# The head of the Investigating Directorate Against Corruption, Andrea Johnson, has told the Madlanga Commission the directorate obtained a Section 27 affidavit from Member of Parliament Fadiel Adams through solicitation. Johnson said this was after receiving a referral letter from suspended Police minister Senzo Mchunu’s office. Responding to the chairperson of the commission, Mbuyiseli Madlanga, Johnson acknowledged the minister’s letter alone was insufficient to trigger investigative powers against Crime Intelligence head Dumisani Khumalo.

# Build One South Africa welcomed Finance Minister Enoch Godongwana’s decision to convene a meeting to consider the removal of the Public Investment Corporation board. BOSA leader Mmusi Maimane says the move acknowledges deep governance failures at the institution. The party’s Graham Charters calls for an independent interim board, a forensic investigation, public disclosure of findings and stronger parliamentary oversight. He says comprehensive institutional reform is needed to restore confidence in the Corporation.

# Western Cape Agriculture, Economic Development and Tourism MEC Ivan Meyer urges businesses to apply for the export competitiveness enhancement programme, which aims to help companies expand into international markets. The programme offers support with meeting global standards, improving products, export compliance, e-commerce and production capacity. Meyer says boosting exports is key to creating jobs, attracting investment and growing the provincial economy:

# Cricket: Australian great David Warner pleaded guilty to drink-driving in a Sydney court. He was accused of being at the wheel of a van on the fifth of April and stopping short of a random testing site, before being breath-tested, arrested and taken to a police station. The former opening batter, who captains Sydney Thunder in the domestic T20 Big Bash League, did not appear in court. He will be sentenced on 18 August.

# And the financial indicators: The dollar trades at 16-rand-47-cents against the rand and the euro at 18-rand-78-cents. One British pound costs 21-rand-99-cents and Bitcoin trades at 65-thousand-582-dollars. Gold sells at four-thousand-117-dollars-99-cents a fine ounce and Brent crude oil is quoted at 90-dollars-57-cents a barrel.

Stay tuned for more news………….