News 13:00

BULLETIN 23 August 1 pm

Good afternoon. I am……..

In this bulletin:

# Cosatu says the struggle for a free Palestine is also a struggle for a new democratic economic model
# The Gauteng government takes over Sanral’s e-toll CCTV network
# And, soccer: The world biggest soccer stadium is to be erected in Morocco for World Cup 2030

# Cosatu says the reproduction of the global energy economy based on the interests of imperialism and few monopolies keep Africa and the global south industrially dependent and underdeveloped. This comes as Colombia has suspended coal exports to Israel, with South African companies urged to do the same. Cosatu’s Zanele Sabela says the struggle for a free Palestine is at the same time a struggle for a new, just and democratic economic model:

# The Gauteng government has taken over the South African National Roads Agency’s CCTV network on e-toll gantries to combat crime. Gauteng premier Panyaza Lesufi says the technology aids in tracking stolen cars and monitoring speed, with law enforcement agents stationed at the command centre. He says this integration has significantly enhanced crime-fighting efforts across the province.

# South Africa’s small diamond producers face severe challenges due to the global diamond crisis. According to the South African Diamond Producers Organisation, the industry is facing drastic price drops and increased competition from lab-grown diamonds. Speaking to Mining Weekly, chairperson Gert van Niekerk has called for government support, including reduced royalties and value-added tax on diamonds, to help local producers navigate the crisis:

Meanwhile, gold prices have surged due to expectations of United States interest rate cuts and increased gold purchases by central banks, particularly in China and Russia. Since March, gold prices have risen by over 20-percent, reaching new highs amid global economic shifts. Economist Dawie Roodt says Russia is using gold for payments, driving further demand: 

# Soccer: Morocco plans to build the world’s biggest soccer stadium in time for the 2030 World Cup it will co-host with Spain and Portugal. The country hopes the Grande Stade Hassan the Second will host the final. The stadium will be erected in El Mansouria, north of Casablanca, and will have a capacity of 115-thousand. The designers say it resembles a type of traditional communal tent, a moussem, and will have an aluminium lattice that will also cover tiered gardens and a botanical garden.

# And the financial indicators: The dollar trades at 17-rand-93-cents and the euro at 19-rand-95-cents. One British pound costs 23-rand-55-cents and Bitcoin trades at 61-thousand-306-dollars-68-cents. Gold sells at two-thousand-500-dollars-40-cents a fine ounce and Brent crude oil is quoted at 78-dollars-1-cents a barrel.

Stay tuned for more news………….