News 14:00

BULLETIN 31 October 2 pm

Good afternoon. I am……..

In this bulletin:

# National Treasury is to release the fiscal anchor policy options by March 2025
# The Road Freight Association says the medium-term budget does not address challenges at ports
# And soccer: Uefa invests over 19-billion-rand in the women’s game

# National Treasury is developing a fiscal anchor to stabilise debt and sustain fiscal policy, with input from academics and international experts. A discussion document is due by March next year. National Treasury says legislative changes are also under consideration to embed debt sustainability in government budgeting. Treasury notes that government debt has surged to 5.26-trillion-rand, consuming 21.6-percent of revenue. This mean 22 cents of every one rand is spent to service debt. It says that a long-term framework is anticipated to address South Africa’s challenging fiscal position.

# The Road Freight Association says there was no mention in Finance minister Enoch Godongwana’s medium term budget policy statement of any immediate action to deal with the equipment at ports. Association CEO, Gavin Kelly says this equipment almost singularly cripple operations and there was also no mention of key infrastructure to ensure rail moves bulk commodities:

# The DA is calling on Eskom to abandon its costly legal challenge against the National Energy Regulator for issuing new electricity trading licenses within Eskom’s service area. The DA’s Kevin Mileham says this litigation not only distracts from the power utility’s primary responsibility of delivering reliable energy to South Africans, but also stands contrary to the spirit and objectives of the Electricity Regulation Act, which explicitly encourages competition:

# Media24 will close key print editions after receiving Competition Commission approval and finalising the sale of On the Dot, Soccer Laduma, and other assets to Novus Holdings. This restructuring includes shutting print editions of Beeld, Rapport, City Press, and Daily Sun by 31 December, with some titles moving exclusively online. Interim CEO Raj Lalbahadur emphasised Media24’s commitment to sustainable digital journalism amid shifting consumer trends. The restructuring initially risked 400 job losses, though editorial staff cuts were later rescinded.

# Soccer: European governing body Uefa promised over 19-billion-rand to develop the women’s game on the continent over the next six years. The money will come from competition revenue and investment. Uefa says it will go to clubs, national teams, senior and youth competitions with the goal to have five-thousand professional players and six professional leagues by 2030. Reuters reports managing director for women’s soccer, Nadine Kessler, as saying the women’s game has become a sport for the masses, attracting an ever-growing and diverse fan base.

# And the financial indicators: The dollar trades at 17-rand-71-cents and the euro at 19-rand-26-cents. One British pound costs 23-rand-1-cent and Bitcoin trades at 72-thousand-408-dollars-36-cents. Gold sells at two-thousand-774-dollars-33-cents a fine ounce and Brent crude oil is quoted at 72-dollars-11-cents a barrel.

Stay tuned for more news………….