News 18:00

BULLETIN 4 July 6 pm

Good afternoon. I am……..

In this bulletin:

# The DA in the Western Cape is confident about the government of national unity’s positive impact
# The Bidvest Group is to dispose of Bidvest Bank and FinGlobal
# And soccer: Erik ten Hag extends his contract with Manchester United

# The DA in the Western Cape is confident the formation of the government of national unity will positively impact provincial politics, leading to better service delivery. This includes the push for its Provincial Powers Bill despite ANC objections. Cape Town mayor Geordin Hill-Lewis told the SABC the GNU will help to unlock various policies that hinder the progress of the province’s economy, enhancing infrastructure, rail transport and housing:

# Bidvest Group has announced plans to sell Bidvest Bank and FinGlobal soon. The Group says it seeks dedicated financial services ownership for sustainability. Group CEO Mpumi Madisa says the disposal process aims to find a buyer by year-end, subject to regulatory approvals. Remaining insurance businesses will shift to Bidvest’s automotive division. Madisa highlights the strategic restructuring to facilitate sustainable growth and value creation for stakeholders. She assures customers that Bidvest Bank remains operationally stable during the transition.

# Tokyo shares closed at all-time highs today, tracking records on Wall Street where bullish global investors drove US tech firms higher. Today’s rally was in line with an advance across Asia, where investors were cheered by fresh data indicating the US labour market was softening, giving the Federal Reserve room to begin cutting interest rates.

# Soccer: Erik ten Hag has extended his contract as Manchester United manager until June 2026. The 54-year-old Dutchman won two trophies in two years at Old Trafford. United finished a disappointing eighth in the Premier League this season and was knocked out of the Champions League group stages. However, beating Manchester City in the FA Cup final proved vital to Ten Hag keeping his job.

# The financial indicators: The dollar trades at 18-rand-26-cents and the euro at 19-rand-73-cents. One British pound costs 23-rand-30-cents and Bitcoin trades at 57-thousand-295-dollars-51-cents. Gold sells at two-thousand-360-dollars-39-cents a fine ounce and Brent crude oil is quoted at 87-dollars-15-cents a barrel.

# And finally: The City of Cape Town has seen a significant rise in film permits issued, highlighting its growing appeal as an international filming destination. The film permit office recorded four-thousand-757 permits in the previous financial year, a 22-percent increase from the year before. Mayoral committee member for Safety and Security JP Smith says the city has also frozen tariffs for the fourth year to support the industry:

Stay tuned for more news………….