News 17:00

BULLETIN 17 November 5 pm

Good afternoon. I am……..

In this bulletin:

# Standard Bank says the soft price pressure in November gives South Africa’s economy hope
# eThekwini’s mayor confirms that the previously submitted Redcliff building plans were rejected
# And Soccer: Mbappé wins 1.8-billion-rand in a court case against PSG

# Standard Bank says South Africa’s inflation outcome for November is encouraging for the South African Reserve Bank. Headline inflation eased to 3.5-percent from 3.6-percent in October, below forecasts, with food prices remaining steady. The bank’s Elna Moolman says the softer price pressures and a drop in inflation expectations point to a more stable economic outlook ahead of the Monetary Policy Committee’s next meeting:

# eThekwini mayor Cyril Xaba confirmed that two building plans submitted by the Redcliff farm’s trustees were rejected because the 8.5-hectare site is zoned as a conservation reserve. Speaking during the delivery of the Redcliff temple collapse preliminary report briefing, the mayor said the four-story temple was constructed without municipal approval, and unauthorised work went undetected during construction, preventing inspections:

# Education activist Hendrick Makaneta is concerned by the longstanding failures of compliance within parts of the private higher education sector. Minister of Higher Education and Training Buti Manamela issued a notice of intent to cancel the registration of Damelin, City Varsity and ICESA City Campus. Makaneta says while enforcement is necessary, the biggest concern remains the long-term impact on students:

# A man who allegedly opened fire on a Jewish Hanukkah celebration on Sydney’s famed Bondi Beach in Australia has been charged with 59 offences. These include 15 counts of murder, 40 of wounding with attempt to murder, as well as terrorism. Fifty-year-old Sajid Akram was shot dead by police while his 24-year-old son, Naveed, emerged from a coma yesterday afternoon after also being shot. The funerals of the victims began today amid anger over how the gunmen were allowed access to powerful firearms.

# Soccer: French captain Kylian Mbappé’s fortune has just increased by 1.8-billion-rand after a court ordered his former club, Paris-St-Germain, to pay him unpaid salary and bonuses. He argued PSG withheld his earnings for April, May and June last year, shortly before he transferred to Spanish giant Real Madrid. The court accepted the amount as determined by the French league, LFP, in September and October last year, despite PSG arguing Mbappé was disloyal by concealing his intention of not renewing his contract for almost a year.  

# And the financial indicators: The dollar trades at 16-rand-74-cents and the euro at 19-rand-62-cents. One British pound costs 22-rand-32-cents and Bitcoin trades at 89-thousand-172-dollars. Gold sells at four-thousand-323-dollars-78-cents a fine ounce and Brent crude oil is quoted at 59-dollars-77-cents a barrel.

Stay tuned for more news………….