News 08:00

BULLETIN 16 September 8 am

Good morning. I am……..

In this bulletin:

# Moody’s says the country’s high borrowing costs are discouraging investment and hindering growth
# Netanyahu is not ruling out further strikes on Hamas leaders
# And rugby: The French flanker Berthoumieu receives a 12-match ban for biting an Irish opponent

# Ratings agency Moody’s says South Africa is in a negative cycle where high borrowing costs discourage investment, hindering growth and further increasing debt costs. The agency rates the country’s long-term foreign and local currency debt at Ba2 with a stable outlook. Moody’s says that although policies targeting fiscal and economic issues are advancing, they will take time to produce results because of implementation difficulties. It says these difficulties stem from the complexity of structural reforms, entrenched private interests, and the difficult political landscape under the coalition government.

# Justice and Constitutional Development minister Mmamoloko Kubayi says South Africa should not be alarmed over the 148-million-rand budget for the Madlanga Commission. Speaking to eNCA, Kubayi assured South Africans that cost-cutting measures are in place, including the use of government buildings. Kubayi stressed the importance of supporting commissioners, given the sensitive work ahead involving cartels and whistleblowers. She added that witness and investigator protection is crucial:

# President Cyril Ramaphosa has signed a proclamation expanding the Special Investigating Unit’s probe into the War on Leaks programme to include the Drop the Block project. The investigation was initially limited to the Water and Sanitation Department and Sedibeng Water, but will now also include the water utility, Lepelle Northern Water. The probe is looking into allegations of serious maladministration in the department, including inflated costs, irregular appointment of service providers and irregular expenditure. The War on Leaks programme was launched in 2015.

# Israeli prime minister Benjamin Netanyahu has refused to rule out further strikes on Hamas leaders, saying terrorists will not have immunity wherever they are. Last week, Israel targeted Hamas leaders in Qatar, a close US ally, killing six people, five members of the militant group and a local Qatari security force member. Speaking at a press conference in Jerusalem with US Secretary of State Marco Rubio yesterday, Netanyahu said every country has the right to defend itself beyond its borders:

# Rugby: French flanker Axelle Berthoumieu has been banned for 12 matches, after being cited for biting Irish opponent Aiofe Wafer during Sunday’s Women’s World Cup quarterfinal in Exeter, England. The 25-year-old accepted she committed a red-card offence but will appeal against the length of the ban. The suspension rules Berthoumieu out of the rest of the World Cup, including Saturday’s semifinal against England, and ten domestic matches through to March 2026. Her appeal will be heard today.

# And the financial indicators: The dollar trades at 17-rand-34-cents and the euro at 20-rand-43-cents. One British pound costs 23-rand-62-cents and Bitcoin trades at 115-thousand-218-dollars. Gold sells at three-thousand-681-dollars-20-cents a fine ounce and Brent crude oil is quoted at 67-dollars-29-cents a barrel.

Stay tuned for more news………….