News 11:00

BULLETIN 21 August 11 am

Good morning. I am……..

In this bulletin:

# Business Leadership SA says three-percentgrowth is needed for large-scale job creation
# Five foreign nationals are arrested following the discovery of a 600-million-rand drug lab in Limpopo
# And rugby: The All Blacks’ coach is ready for a physical arm wrestle contest against the Boks

# Business Leadership South Africa says the country needs to move beyond business as usual and lift growth above three-percent for large-scale job creation. About 8.5-million people are without work, and roughly 300-thousand net new work-seekers enter the labour force every year. BLSA chairperson Adrian Gore says the business sector believes South Africa has a significant opportunity to build a self-reinforcing cycle of an improved narrative, investment, growth, jobs and increased confidence. He adds the country has enormous unfulfilled potential. 

# Eskom says its supplier disciplinary process has resulted in the restriction of 101 suppliers from doing business with the power utility for up to ten years. These relate to cases from 2015 until 31 March this year. Spokesperson Daphne Mokwena says fraud, corruption, procurement irregularities and supplier misconduct have affected public confidence. She says it has also highlighted the need for decisive, transparent and sustainable consequence management across its supply chain:

# The Hawks have uncovered a massive drug manufacturing operation worth an estimated 600-million-rand on a farm in Musina, Limpopo, and arrested five foreign nationals. This is the third clandestine drug laboratory to be shut down in the province. Spokesperson Avele Fumba says the breakthrough follows a two-month investigation into suspected drug manufacturing activities at the farm. He says drugs, laboratory equipment and cash were seized:

Moving abroad:

# The Iranian Foreign Ministry says US president Donald Trump’s unlawful threat of heightened sanctions against Tehran is the other side of the coin of war and military aggression. Trump has vowed an economic D-Day under which any country that does business with Iran would face consequences. Efforts to end the war have stalled, with the US facing deadlocked attempts to reopen the Strait of Hormuz. The ministry says economic terrorism threatens the global economy and the national sovereignty of countries around the world.

# Rugby: All Blacks coach Dave Rennie says they are bracing for a physical arm wrestle rather than an open, expansive contest against the Springboks at Ellis Park in Johannesburg tomorrow. He has named a strong team, with Ardie Savea leading the side, and scrum-half Cam Roigard and winger Will Jordan set to make their first appearance of the tour. Rennie has flagged the aerial battle as a key early flashpoint:

# And the financial indicators: The dollar trades at 16-rand-5-cents and the euro at 18-rand-77-cents. One British pound costs 21-rand-90-cents, and Bitcoin trades at 75-thousand-903-dollars. Gold sells at four-thousand-558-dollars-71-cents a fine ounce, and Brent crude oil is quoted at 94-dollars-63-cents a barrel.

Stay tuned for more news………….