News 13:00

BULLETIN 13 November 1 pm

Good afternoon. I am……..

In this bulletin:

# Ramaphosa describes infrastructure as an engine of equality
# Boeing is ordered to pay more than 485-million-rand to hte family of a plane crash victim
# And rugby: Two young Springbok stars renew their contracts with the Bulls

# President Cyril Ramaphosa says infrastructure gives people the foundation to thrive. He was speaking at the second National Construction Summit in Boksburg, Gauteng. Ramaphosa says quality infrastructure boosts productivity, lowers living costs, and drives investment. He notes that construction can transform communities by creating jobs and improving services. Ramaphosa adds South Africa’s construction sector is recovering and poised to once again power the economy:

# The Treasury’s medium-term budget policy statement maintains South Africa’s debt-to-gross domestic product ratio for 2025, projecting a gradual decline and reinforcing fiscal consolidation. Standard Bank’s head of Macro-economic Research, Elna Moolman, says revenues were raised by nearly 20-billion-rand, with extra allocations for infrastructure, disaster relief, and key agencies, offset by savings from lower inflation and underspending. She says credit-positive, weak growth and discretionary spending mean sovereign rating upgrades are unlikely before next year.

# The DA is demanding accountability on how 17 South African men were lured to join mercenary forces involved in the Ukrainian-Russian war under the pretext of employment. It is alleged the men thought they were departing for legitimate security or training work but were forced to fight for Russian-aligned forces in Ukraine’s Donbas region. The DA’s Chris Hattingh says the State Security Agency and Defence Intelligence must explain how these recruitment operations were able to happen inside South Africa without being detected:

# A federal court jury in Chicago ordered US airplane manufacturer Boeing to pay 478-million-rand to the family of a United Nations environmental worker who was killed in the 2019 crash of a 737 MAX in Ethiopia. The damages awarded to Shikha Garg’s family is the first in dozens of lawsuits filed after that disaster and another in Indonesia the previous year which combined killed 346 people. A Boeing spokesperson says they are deeply sorry for all who lost loved ones on the two flights.

# Rugby: Two Springboks – 23-year-old eighthman Cameron Hanekom and 24-year-old prop and hooker Jan-Hendrik Wessels – have extended their contracts with the Bulls. Both will now play for the Pretoria-based union until the end of the 2028 season. Hanekom and Wessels are regarded as influential Test players of the future. Blue Bulls CEO Edgar Rathbone says they pride themselves as a club where champions are made, and the two players’ decision to extend their contracts is a massive vote of confidence in the Bulls family.

# And the financial indicators: The dollar trades at 16-rand-99-cents and the euro at 19-rand-75-cents. One British pound costs 22-rand-35-cents and Bitcoin trades at 103-thousand-123-dollars. Gold sells at four-thousand-232-dollars-80-cents a fine ounce and Brent crude oil is quoted at 62-dollars-36-cents a barrel.

Stay tuned for more news………….