News 13:00

BULLETIN 19 April 1 pm

Good afternoon. I am……..

In this bulletin:

# The outcome of the elections could shape investment strategies and tax policies 
# Numsa demands wage offers based on actual rates in the engineering sector 
# And motorsport: Lewis Hamilton wants to emulate Fernando Alonso and race well into his forties

# Private investment firm Everest Wealth has underscored the importance of the outcome of next month’s elections in shaping investment strategies and tax policies. The firm’s head of Advisory Services, Riaan Grobler, says voters must familiarise themselves with plans in the various political parties’ election manifestos, as they can come to fruition if a party wins the majority. He says international investors are holding their breath over the outcome of the election, which could have unprecedented consequences.

# Metalworkers union Numsa is demanding fair wages based on actual rates of pay in the engineering sector. They propose a seven-percent increase for the first year and six-percent for subsequent years to combat inflation. The Steel and Engineering Industries Federation of South Africa supports maintaining the current agreement, while the National Employers Association of South Africa and the SA Engineers and Founders Association propose drastic wage reductions. Numsa’s Phakamile Hlubi-Majola urges employers to consider their reasonable demands to avoid potential pickets:

# Cape Town Air Access and Norse Atlantic Airways will introduce a new direct flight route connecting Cape Town International Airport to London Gatwick Airport on the 28th of October. Norse Atlantic Airways will operate three flights per week on this route, significantly enhancing connectivity between Cape Town and the UK. Western Cape MEC for Finance and Economic Opportunities, Mireille Wenger, believes this new route will be a success:

# Motorsport: British Formula One driver Lewis Hamilton says he wants to emulate his old rival Fernando Alonso and race well into his forties. The Spaniard just signed a deal with Aston Martin that will see him racing until at least 2026, when he will be 45. Thirty-nine-year-old Hamilton will join Ferrari next season on an initial two-year contract. He says Alonso, who he regards as one of the best drivers, had shown what was possible and what the human body can achieve if it is nurtured.

# The financial indicators: The dollar trades at 19-rand-19-cents and the euro at 20-rand-45-cents. One British pound costs 23-rand-89-cents and Bitcoin trades at 64-thousand-624-dollars-94-cents. Gold sells at two-thousand-383-dollars-40-cents a fine ounce and Brent crude oil is quoted at 87-dollars-58-cents a barrel.

# And finally: South Africa’s longest-running and most diverse arts festival, the National Arts Festival in the Eastern Cape, is celebrating 50 years. Organisers have released the curated programme, which includes the world premiere of Third World Bunfight’s The Stranger, and 1789 by Sibikwa Arts Centre. The festival will also launch the groundbreaking multi-national dance development programme Third Space, a collaboration with the French Institute of South Africa and the Lesotho and Malawi embassies. The festival takes place in Makhanda from the 20th to the 30th of June.

Stay tuned for more news………….