News 07:00

BULLETIN 22 October 7 am

Good morning. I am……..

In this bulletin:

# Minister Lamola says the government won’t make concessions on domestic policies to the US
# Fitch expects the National Treasury will set a three-percent inflation target in November
# And cricket: The Proteas Women knock Pakistan out of the World Cup

# International Relations and Cooperation minister, Ronald Lamola, says trade talks with the US are going well. Still, government is unlikely to make concessions on domestic policies as part of the negotiations. The US imposed 30-percent tariffs on South African exports to America in August, which have threatened thousands of jobs in the automotive industry and citrus farming in the country. Speaking at the Financial Times Africa Summit in London on Tuesday, Lamola emphasised that America remains a strategic partner to the country’s economy:

# Fitch Ratings says it expects Finance minister Enoch Godongwana to formally lower South Africa’s inflation target to three-percent in his Medium-Term Budget Policy Statement next month. The country’s current inflation target ranges from three to six-percent. Reserve Bank Governor Lesetja Kganyago in July stated that monetary policymakers now prefer to anchor inflation at the bottom end of their official target band. Fitch’s Thomas Garreau says they do consider that the Reserve Bank will have some tolerance for inflation, and not hike rates as a result.

# The Hillel Villa and Spa located in Northcliff, Johannesburg, has denied that its premises were used for unlawful purposes as alleged before the Madlanga Commission of Inquiry. This follows testimony from Witness A, who claimed to have attended a party at the Northcliff venue with senior police officers present. In a statement, management confirmed the hotel hosted the event but denied any links to criminal activity or attempts to influence investigations. It clarified its ownership and distanced itself from wrongdoing.

# The Gauteng legislature’s portfolio committee on Community Safety has called for urgent action following a mass shooting in Westbury, Sophiatown, that left two teenagers dead and five others injured. The committee says illegal guns are driving gang violence and urges police to send specialised units to the area. The committee’s chairperson, Bandile Masuku, calls for better reporting on gun crimes and long-term investment in youth programmes and social services to make the community safer:

# US vice president JD Vance has downplayed concerns about the fragility of the Israel-Hamas ceasefire, saying the ceasefire in Gaza is in a very good place. He is visiting Israel to shore up the fragile ceasefire deal. The ceasefire has been shaken by repeated violations since it was put in place on 10 October, with Hamas killing two Israeli soldiers and Israel retaliating with airstrikes and killing 26 Palestinians in Gaza on Sunday. Vance believes the ceasefire is going to hold:

# Cricket: South Africa defeated Pakistan by 150 runs via the Duckworth–Lewis–Stern method in Colombo, to go top of the Women’s World Cup table. Captain Laura Wolvaardt scored 90 off 82 balls to help the Proteas post 312 for nine in 40 overs after rain curtailed their innings. This is South Africa’s highest total in World Cup history. In reply, Pakistan were restricted to 83 for seven, chasing a rain-reduced 234 from 20 overs. The Proteas have already qualified for the semifinals, while Pakistan has been knocked out of the tournament.

# And the financial indicators: The dollar trades at 17-rand-40-cents and the euro at 20-rand-19-cents. One British pound costs 23-rand-26-cents and Bitcoin trades at 108-thousand-252-dollars. Gold sells at four-thousand-121-dollars-82-cents a fine ounce and Brent crude oil is quoted at 61-dollars-27-cents a barrel.

Stay tuned for more news………….