News 12:00

BULLETIN 24 July 12 pm

Good afternoon. I am……..

In this bulletin:

# Non-compliance is derailing South Africa’s bid to be removed from the greylist
# The Institute of Retirement Funds warns of pension access challenges in September
# And, rugby: Springbok centre Esterhuizen has been banned for three matches after his red card against Portugal

# The Financial Intelligence Centre warns that non-compliance by legal and property practitioners is jeopardising South Africa’s bid to be removed from the greylist next year. In March last year, the FIC issued two directives targeting legal practitioners, estate agents, and dealers in precious stones amongst others. The centre’s Christopher Malan told the SABC despite the legal and property practitioners sectors identified as high-risk for money laundering and terrorist financing, they are still neglecting FIC directives:

# The Institute of Retirement Funds has cautioned about potential challenges in accessing pension funds starting in September. President Cyril Ramaphosa has signed the Pension Funds Amendment Bill into law, which will divide members’ benefits into a savings pot and a retirement pot. The fund’s Wayne Hiller van Rensburg told Newzroom Afrika high demand may strain the infrastructure needed:

# American Democrats have donated over 1.8-billion-rand to vice-president Kamala Harris’s election campaign since president Joe Biden dropped out of the race on Sunday. This includes just under 1.5-billion-rand during a 24-hour period of fundraising, donated by almost 900-thousand people who promised up to three-thousand-600-rand each. Donors who were worried that 81-year-old Biden was too old for another term, say they will now resume their support for the party. Fifty-nine-year-old Harris is expected to be chosen as the Democrats’ candidate at next month’s national convention.

# Rugby: Springbok centre André Esterhuizen has been banned for three matches after his red card in the Test against Portugal in Bloemfontein. His yellow for head contact in a tackle on José Lima was upgraded to red after a review. Esterhuizen has received a four-week ban, but it will be reduced to three weeks if he completes World Rugby’s intervention course. He will serve the ban in the Currie Cup, having been omitted from the Rugby Championship tour of Australia, but will be available against the All Blacks.

# The financial indicators: The dollar trades at 18-rand-35-cents and the euro at 19-rand-88-cents. One British pound costs 23-rand-66-cents and Bitcoin trades at 66-thousand-290-dollars-80-cents. Gold sells at two-thousand-412-dollars-97-cents a fine ounce and Brent crude oil is quoted at 81-dollars-45-cents a barrel.

# And finally, scientists say sharks off the coast of Brazil have tested positive for cocaine. Researchers have long suggested that sea life could be impacted by drugs dumped into the water by smugglers. Scientists dissected 13 Brazilian sharpnose sharks, finding all tested positive for the drug, with a concentration as much as 100 times higher than previously reported for other aquatic creatures. In June last year, the US Coast Guard seized more than six-thousand-400 kilogram of cocaine in the Caribbean Sea and Atlantic Ocean, with an estimated value of 3.4-billion-rand.

Stay tuned for more news………….