News 09:00

BULLETIN 11 December 9 am

Good morning. I am……..

In this bulletin:

# The SACP says the ANC’s proposal to undo dual membership is wrong
# ActionSA in Tshwane reports four DA councillors for spreading misinformation
# And the US Federal Reserve has lowered interest rates again

# The South African Communist Party has warned that it will reject any attempt to do away with dual SACP and ANC membership. This follows revelations that the ANC National Executive Committee has rejected dual membership, following the SACP’s decision to contest elections independently. SACP spokesperson, Mbulelo Mandlana, says any act to undermine dual membership sets a stage for fundamental changing of the political framework that has historically held the national transformation project together:

# The Bureau for Economic Research says municipalities are struggling to procure their own electricity from independent power producers. Despite 2020 reforms aimed at boosting energy security, no municipality has added new power to the grid. Challenges include poor municipal finances, skills shortages, regulatory disputes, and grid constraints. The bureau’s study warns that without urgent support, skills development, and clear processes, municipalities remain unable to diversify electricity supply or relieve the pressure of load-shedding and load reduction.

# ActionSA in Tshwane has reported four DA councillors to the Office of the Speaker for breach of the code of conduct. The party has accused the DA of deliberate efforts to mislead residents and cause panic through the spreading of lies and misinformation, including on service delivery, typhoid fever, and the ongoing sewage crisis. ActionSA’s Henriette Frohlich says they are committed to holding all elected councillors accountable to the rule of law:

# The US Federal Reserve has lowered interest rates for the third time this year. The central bank’s Federal Open Market Committee has cut its key benchmark interest rates by 25 basis points, putting it in a range of 3.50 to 3.75-percent, amid the elevated inflation level in the economy and a weakening job market. Federal Reserve chair, Jerome Powell, says the current overshooting of the central bank’s two-percent inflation target is mostly the result of president Donald Trump’s import tax hikes:

# Soccer: Champions League table-topping Arsenal made it six wins from six, beating Club Brugge 3-0, and all but secured their place in the knockout phase with two group matches left to play. Defending champions Paris Saint-Germain played to a goalless draw against Athletic Club. The draw leaves the Ligue 1 champions just a point clear of ninth place in the battle to avoid a playoff. Manchester City came from behind to beat 15-time champions Real Madrid 2-1. Juventus, Ajax, Benfica, and Copenhagen also recorded victories.

# And the financial indicators: The dollar trades at 16-rand-96-cents and the euro at 19-rand-82-cents. One British pound costs 22-rand-67-cents and Bitcoin trades at 90-thousand-124-dollars. Gold sells at four-thousand-215-dollars-40-cents a fine ounce and Brent crude oil is quoted at 69-dollars-96-cents a barrel.

Stay tuned for more news………….