News 09:00

BULLETIN 4 July 9 am

Good morning. I am……..

In this bulletin:

# NERSA approves Sasol Gas’s maximum price application
# Zimbabwe is hit by a nationwide power outage
# And rugby: History is made as the first Springboks store opens its doors

# The National Energy Regulator has approved Sasol Gas’s application for a maximum price of gas for the period 1 July 2025 until 30 June 2026. NERSA spokesperson, Charles Hlebela says the regulator approved a maximum price of gas of 87-rand-04-cent per gigajoule per annum for end-user customers and 82-rand-62-cent per gigajoule per annum for third-party traders and resellers. He says it also approved a minimum of 5-percent discount from the maximum gas price to be provided to third-party traders and resellers:

Meanwhile, Zimbabwe experienced a nationwide power outage on Thursday afternoon after a major system disturbance knocked out power generation at Kariba and Hwange power stations, the country’s main electricity sources.  The state-owned power utility ZESA said the blackout also disrupted interconnections with regional power suppliers in South Africa, Zambia, and Mozambique. Zimbabwe’s power grid has faced increasing pressure in recent years due to ageing infrastructure, recurrent breakdowns at thermal plants, and declining water levels at Kariba Dam, which powers the country’s largest hydroelectric station.

# Tongaat Hulett has announced a strong turnaround in its operations, with its three South African sugar mills ranked top nationally for sugar recovery this season. The company credits a one-billion-rand investment for the improvement, which included upgrading infrastructure and hiring skilled staff. Tongaat Hulett CEO Gavin Dalgleish says the business rescue plan is nearing completion, with new owners, Vision Consortium, taking over soon:

# More than 230 firefighters, along with 46 vehicles and 10 helicopters, are struggling to tackle an out-of-control wildfire on Greece’s largest island, Crete, while authorities have ordered mass evacuations. The fire broke out near Ierapetra, a town on the island’s southeast coast, amid temperatures 3 to 5 degrees Celsius above average, and gale-force winds of around 80 kilometres an hour. The flames have spread rapidly, reaching homes as well as hotels and other tourist accommodations. Wildfires have ripped through other European countries this week as the continent endures a brutal heat wave.

# Rugby: A new chapter in South African rugby history will begin today when the first ever Springbok store opens its doors in the Sandton City shopping centre in Johannesburg. The shop was inaugurated at a special ceremony on Thursday and will feature the official Nike replica teamwear as well as an exciting new range of off-field supporters’ clothing, called Springboks, designed to be worn everywhere.  SA Rugby CEO, Rian Oberholzer, said the shop, located at Protea Court in Sandton City, will take the Springbok brand into places it has never been before.

# And the financial indicators: The dollar trades at 17-rand-49-cents and the euro at 20-rand-60-cents. One British pound costs 23-rand-91-cents and Bitcoin trades at 109-thousand-178-dollars. Gold sells at three-thousand-341-dollars-36-cents a fine ounce and Brent crude oil is quoted at 68-dollars-17-cents a barrel.

Stay tuned for more news………….