News 07:00
BULLETIN 23 July 7 am
Good morning. I am……..
In this bulletin:
# The Impeachment Committee is seeking legal advice on Ramaphosa’s possible appearance
# First National Bank warns inflation risks will remain despite lower oil prices
# And, Donald Trump threatens to “destroy one bridge or power plant” every time Iran targets ships in the Strait of Hormuz
# Parliament’s Impeachment Committee has resolved to request its legal advisers to guide the legal position regarding president Cyril Ramaphosa’s appearance or testimony before it. An independent panel found a prima facie case for Ramaphosa to answer allegations linked to the theft of foreign currency at his Phala Phala farm in Limpopo in 2020. Committee chairperson Makashule Gana says the legal advice must also guide on the implications should the president elect not to testify:
# FNB says inflation risks remain despite recent declines in oil prices, as ongoing geopolitical tensions in the Middle East could still push up fuel and energy costs. The bank expects inflation to ease slightly this month but warns that uncertainty remains high. FNB economist Ame Muller expects the South African Reserve Bank to raise the repo rate by another 25 basis points at this week’s Monetary Policy Committee meeting.
# ActionSA has launched an online portal for residents to report the alleged illegal occupation of RDP houses by foreign nationals. The party’s Zandile Dabula says the platform is aimed at exposing corruption in housing allocations and ensuring government homes go to qualifying South Africans. Dabula added reports can be submitted with supporting evidence, will be assessed before being referred for further action, and all information provided will be kept confidential:
# The Special Tribunal has declared the National Lotteries Commission’s four-million-rand grant to the Mshandukani Foundation unlawful, and ordered the repayment of the funds with interest. The Special Investigating Unit probe found that the foundation applied in February 2019 for grant funding to implement a community development project aimed at providing clean water to communities in the Eastern Cape. The project was supposed to benefit eight-thousand-and-15 vulnerable people and create 15 part-time jobs. However, the SIU found that most of the funds were diverted to entities linked to the foundation’s leadership.
# US president Donald Trump has threatened to bomb and destroy one bridge or power plant every time Iran targets a ship transiting the Strait of Hormuz. He has previously threatened to target Iranian civilian infrastructure. This comes after the US military launched strikes on Tehran for the 11th consecutive night on Tuesday. Meanwhile, Iran says if the Americans target an Iranian bridge or power plant, it will respond by striking infrastructure and bridges across the region, including energy facilities in which the US has interests.
# Cricket: Afghanistan have appointed the experienced Rahmat Shah as the new captain of their ODI and Test teams, with Rahmanullah Gurbaz as vice-captain. The change comes after Hashmatullah Shahidi stepped down on Tuesday, ending a five-year stint during which Afghanistan finished sixth at the 2023 World Cup. Rahmat’s first assignment as captain will be the five-match ODI series against Ireland next month. The Afghanistan Cricket Board says that with extensive experience in international cricket, leadership, and the team’s overall structure, Shah is well positioned to take on this important responsibility.
# And the financial indicators: The dollar trades at 16-rand-36-cents and the euro at 18-rand-67-cents. One British pound costs 21-rand-89-cents and Bitcoin trades at 65-thousand-744-dollars. Gold sells at four-thousand-125-dollars-20-cents a fine ounce and Brent crude oil is quoted at 91-dollars-38-cents a barrel.
Stay tuned for more news………….