News 14:00

BULLETIN 17 September 2 pm

Good afternoon. I am……..

In this bulletin:

# Consumer confidence reaches the highest level since 2019
# The Automobile Association welcomes the expected fuel price drop
# And Cricket: Lungi Ngidi says the Proteas do not underestimate Afghanistan

# The FNB/Bureau for Economic Research’s Consumer Confidence Index rose from minus-ten to minus-five during the third quarter of 2024, its highest level since 2019. The bureau says this is the second consecutive five-point increase, signaling a strong recovery in consumer sentiment. Boosted by improvements in household financial outlook and durable goods purchasing confidence, higher-income households saw the most significant rise. FNB chief economist Mamello Matikinca-Ngwenya attributed this to economic stability, declining fuel prices, and expectations of interest rate cuts.

# The Automobile Association is expecting a significant fuel price reduction to start the summer, based on unaudited data from the Central Energy Fund. Petrol, diesel, and illuminating paraffin are set to drop, with petrol prices decreasing by up to 1-rand-26-cents-per-litre. Spokesperson Eleanor Mavimbela attributes this to lower international product prices and the Rand’s strong performance against the US Dollar:

# The DA in the Western Cape has welcomed today’s announcement of updated deployments of LEAP officers to some parts of Cape Town’s most-troubled areas as part of a six-month trial. The party’s Thomas Walters says this decision will allow provincial law enforcement units to better respond to the concentrated violence in troubled areas especially those in which the police suffer its highest vacancy rates:

# Cricket: The Proteas men are currently in the United Arab Emirates, where they will take on Afghanistan in a three-match ODI series, starting tomorrow in Sharjah. South Africa is building squad depth by resting some key players, while welcoming back Lungi Ngidi, who returns from a calf injury to spearhead the bowling attack. The 28-year-old pace bowler says they are not underestimating Afghanistan:

# Financial indicators: The dollar trades at 17-rand-60-cents and the euro at 19-rand-61-cents. One British pound costs 23-rand-27-cents and Bitcoin trades at 59-thousand-78-dollars-49-cents. Gold sells at two-thousand-571-dollars-80-cents a fine ounce and Brent crude oil is quoted at 72-dollars-43-cents a barrel.

# And finally: Embattled hip-hop mogul Sean Diddy Combs has been arrested in New York after a grand jury indictment. His arrest comes amid an ongoing federal investigation, which saw two of his properties in Los Angeles and Miami raided in March. Earlier this month, former Danity Kane member Dawn Richard filed a suit against Combs, alleging verbal abuse, assault, sexual battery and intentional infliction of emotional distress. Combs’s attorney, Marc Agnifilo, says they are disappointed with the decision to pursue what he believes is an unjust prosecution of his client.

Stay tuned for more news………….