News 08:00

BULLETIN 28 July 8 am

Good morning. I am……..

In this bulletin:

# Transnet gets another lifeline of 94.8-billion-rand
# FlySafair continues to operate a reduced flight schedule as the strike continues
# And the US and EU agree on a trade deal

# Government has approved additional guarantee support of 94.8-billion-rand for struggling state-owned Transnet. The new guarantee comprises 48.6-billion-rand to cover all debt redemptions over the next five years, and an additional 46.2-billion-rand to mitigate against further credit rating actions. S&P Global downgraded Transnet’s credit rating due to cash burn of 13.5-billion-rand annually and failure to meet volume targets. Transport Department’s spokesperson, Collen Msibi, says the government will continue to work with Transnet to ensure operational and financial improvements:

# FlySafair says it continues to operate at a stable but reduced flight schedule, as the pilots’ strike enters its second week. Striking pilots represented by Solidarity rejected a new wage offer and conditions of service that the company made over the weekend. The union says disagreements over a three-year pay offer and shift rostering system remained unresolved. FlySafair’s Kirby Gordon says the parties continue to engage in good faith as they work through the complex details at hand. He adds that they remain hopeful for a resolution soon.

# The Activist and Citizens Forum says the Department of Correctional Services must be included in the inquiry into widespread corruption in the justice system. This follows explosive claims by KwaZulu-Natal Police Commissioner, Nhlanhla Mkhwanazi, implicating SAPS, prosecutors, the judiciary, and correctional services. The forum’s spokesperson, Dennis Bloem urged thorough investigation, citing the 2005 murder of head of Policy Monitoring and Evaluation unit in the Free State premier’s office, Noby Ngombane, as an example of alleged collusion, cover-ups, and systemic failure within the security cluster.

# President Donald Trump says the US and the European Union have reached a trade deal framework, which will impose a blanket tariff of 15-percent on all EU goods imported to America. This comes after Trump announced duties on most EU goods would be increased from the ten-percent universal baseline to a 30-percent levy on August 1st. Trump and European Commission president Ursula von der Leyen met for talks in Scotland on Sunday. The US president says this deal is good for everybody:

# Cricket: The fourth Test between England and India in Manchester was declared a draw, with the hosts leading the five-match series 2-1. India, which began the final day trailing by 137 runs with eight wickets in hand, produced two match-saving partnerships. Captain Shubman Gill put on 188 with KL Rahul, and Washington Sundar and Ravindra Jadeja put on an unbroken 203 for the fifth wicket, to ensure the visitors escaped with a draw. Gill says he is pleased with their batting effort:

# And the financial indicators: The dollar trades at 17-rand-73-cents and the euro at 20-rand-84-cents. One British pound costs 23-rand-82-cents and Bitcoin trades at 119-thousand-390-dollars. Gold sells at three-thousand-337-dollars-38-cents a fine ounce and Brent crude oil is quoted at 67-dollars-79-cents a barrel.

\Stay tuned for more news………….