News 08:00

BULLETIN 6 March 8 am

Good morning. I am……..

In this bulletin:

# The Government says the economy is showing signs of gradual recovery
# Saftu says fuel price hikes are continuing to impact the working class the most
# And Biden and Trump are both victorious in their respective primaries on Super Tuesday

# The government says the latest gross domestic product figures reflect resilience and gradual economic recovery amidst ongoing challenges. South Africa’s economy grew by a marginal 0.1-percent in the fourth quarter of last year. Minister in the Presidency, Khumbudzo Ntshavheni, says this growth is particularly encouraging as it surpasses pre-pandemic levels, indicating an economy showing signs of recovery. She says government remains committed to implementing policies that foster a conducive environment for further economic expansion, and create an environment that attracts investment.

# The South African Federation of Trade Unions says it is concerned that the fuel price hikes are a burden on the cost of living of the working class. Petrol has gone up to one-rand-21-cents per litre while diesel and illuminating paraffin have also increased. Saftu’s spokesperson, Trevor Shaku, says the Household General Survey shows that two-thirds of workers in the country use road transport, meaning that the increase in fuel will impact individuals who use public transport, lift clubs, and private vehicles:

# The Freedom Front Plus in Gauteng has described the provincial budget tabled by Finance MEC, Jacob Mamabolo, as uninspiring. The MEC allocated a budget of 165.8-billion-rand to various departments for the 2024/2025 financial year, with a growth projection of  171.5-billion-rand in 2025/2026. FF Plus’, Anton Alberts, says the budget, once again, proposes squandering funds on misguided policy initiatives, which will only make the province poorer:

# US president Joe Biden has won the Democratic primaries in Iowa, Virginia, Vermont, North Carolina, Tennessee, and Oklahoma so far on Super Tuesday. Democrats and Republicans in 15 states have been voting to select their preferred candidate for the presidential contest. Former president Donald Trump has so far won the Republican primaries in North Carolina, Virginia, Tennessee, and Oklahoma. Biden is all but uncontested for the Democratic nomination while Trump is the front-runner to win the Republican nomination, enjoying a handsome lead over Nikki Haley.

# Soccer: Bayern Munich overturned a first-leg deficit of one-nil against Lazio to advance to the Champions League quarterfinals. Goals from Harry Kane, who scored twice, and Thomas Muller saw Bayern beat Lazio three-nil in the second leg. Kane now has 33 goals in 33 games in all competitions for the German side. Meanwhile, Kylian Mbappe scored twice as Paris St-Germain defeated Real Sociedad two-one in the second leg to advance to the quarterfinals. Mbappe says they are happy to reach the last eight:

# And the financial indicators: The dollar trades at 18-rand-96-cents and the euro at 20-rand-59-cents. One British pound costs 24-rand-9-cents and Bitcoin trades at 62-thousand-966-dollars-24-cents. Gold sells at two-thousand-125-dollars-47-cents a fine ounce and Brent crude oil is quoted at 82-dollars a barrel.

Stay tuned for more news………….