News 12:00

BULLETIN 25 August 12 pm

Good afternoon. I am……..

In this bulletin:

# The rand strengthens to under 16-rand to the dollar for the first time since February
# The deadline looms for SASSA beneficiaries to switch to the Postbank’s black cards
# And rugby: Rassie Erasmus says the Boks are ready to make things right in the second Test against the All Blacks

# The rand has strengthened to under 16-rand to the US dollar for the first time in almost six months. The currency broke through the key level this morning. Analysts say a weaker US dollar, rising gold and platinum prices, and strong foreign demand for South African bonds are driving gains. Investec says about 63.7-billion-rand has flowed into local debt markets this year, boosting confidence. The bank forecasts the rand could average 15-rand-90-cents to the dollar in the final quarter of the year.

# Forum for South Africa is calling on president Cyril Ramaphosa to remove acting Police minister Firoz Cachalia, claiming he has failed to confront the escalating levels of crime and violence. Cachalia recently alleged criminal masterminds are operating from positions of power and are able to protect themselves. Forum leader Tebogo Mashilompane asks why individuals behind organised crime are not arrested if government has credible information identifying them:

# Postbank has issued a final appeal to nearly 80-thousand social grant beneficiaries who have yet to migrate from SASSA gold cards to the Postbank’s black cards. The deadline is Monday. Over 1.8-million beneficiaries have already migrated to black cards since the process began last year. Postbank spokesperson Bongani Diako says additional operational measures are in place to accommodate the expected increase in beneficiaries during the final days of the migration process:

Moving abroad:

# The US government has officially removed Syria from its list of state sponsors of terrorism. The country had been on the ⁠list since 1979, when Washington accused former president Hafez al-Assad’s government of supporting militant groups. US Secretary of State Marco Rubio says this move is in recognition of the positive actions taken by the Syrian government under president Ahmed al-Sharaa to fully distance the country from acts of international terrorism. He adds this will unlock new potential for Syria’s economic revitalisation and progress.

# Rugby: Springbok coach Rassie Erasmus says they are determined to bounce back from their bruising 33-16 defeat to the All Blacks in the first Test in Johannesburg. Handrè Pollard returns at flyhalf for Saturday’s second Test in Cape Town, while Cobus Reinach and Ethan Hooker are also included. Siya Kolisi will play if fit. Erasmus says they need to convert the chances they create into points to earn the desired result:

# And the financial indicators: The dollar trades at 16-rand and the euro at 18-rand-66-cents. One British pound costs 21-rand-82-cents and Bitcoin trades at 80-thousand-153-dollars. Gold sells at four-thousand-636-dollars-45-cents a fine ounce and Brent crude oil is quoted at 91-dollars-86-cents a barrel.

Stay tuned for more news………….