News 09:00

BULLETIN 24 September 9 am

Good morning. I am……..

In this bulletin:

# President Ramaphosa wants support for an International Panel on Inequality
# Fikile Mbalula believes the ANC has a strong case against the IEC at the Constitutional Court
# And tennis: Carlos Alcaraz regards Alexander Zverev as the best player in the world at the moment

# President Cyril Ramaphosa says there is a need to build a new multilateral frontier and expand a global coalition against inequality. He delivered a message virtually at the International Panel on Inequality high-level event on the sidelines of the United Nations General Assembly in New York. Ramaphosa says the decision to establish the panel is one of the most consequential outcomes of the South African G20 Presidency last year. He urged member states to back a resolution to establish the panel:

# ANC secretary-general Fikile Mbalula believes the party has a strong case before the Constitutional Court against the Election Commission. The party is seeking to appeal last week’s Electoral Court decision, which ruled in favour of the IEC to bar 181 councillors from contesting the November local government elections. The ANC failed to submit the candidates for six municipalities before the 5pm deadline on 28 August. Mbalula maintains that the names were filed with the IEC but that it forgot to press the “submit” button:

# Union federation COSATU has hit out at the South African Reserve Bank’s decision to raise the repo rate by 25 basis points to 7.25-percent, calling it deeply disappointing and untimely. The federation argues the hike will make home loans and other debt more expensive for struggling workers already facing higher fuel, transport and electricity costs. Cosatu’s Matthew Parks says the current inflation spike is driven entirely by the geopolitical crisis, not domestic demand.

Meanwhile, Standard Bank economist Elna Moolman says the South African Reserve Bank’s 25-basis-point interest rate hike could be the last increase in the current rate cycle. According to Moolman, rising fuel prices were a key reason for the hike, with petrol prices increasing again in September and possibly rising further in October. Moolman added there is no evidence yet that higher fuel costs are causing wider inflation, and interest rate relief could come next year:

# Iranian president Masoud Pezeshkian has rejected US president Donald Trump’s characterisation of Iranians as “terrorists,” asserting Iranians have been “the victims of terrorism.” In his speech to the United Nations General Assembly in New York, he highlighted the bombing of a Minab school in February, which left 120 children and 26 teachers dead. The US has denied deliberately targeting civilians and is investigating the school strike. Pezeshkian said Iran will never bend to Trump, emphasising they are ready for negotiations without accepting the language of force.

# And tennis: Carlos Alcaraz regards German Alexander Zverev as the best player in the world at the moment. Both will play for Team Europe in the Laver Cup in London this weekend. The Spaniard believes Zverev will be a great weapon that they plan to use against Team World. The competition will only be Alcaraz’s second event since returning from a long-term wrist injury last month, when he reached the quarterfinals of the US Open. Zverev won that tournament after also clinching the French Open title in June.

Stay tuned for more news………….