News 16:00

BULLETIN 9 March 4 pm

Good afternoon. I am……..

In this bulletin:

# The G7 nations will hold an emergency meeting to release oil reserves
# Israel says it targeted Iranian commanders in Beirut as the death toll nears 400
# And rugby: England’s union supports Borthwick despite the woeful Six Nations campaign

# G7 nations is to hold an emergency meeting today to discuss surging oil prices as crude jumped above 100-dollars a barrel and stock markets slumped over the escalating US-Israeli war with Iran. Finance ministers from seven industrialised countries, including the UK, France, Italy and Canada, will discuss the economic impact of the conflict, and a joint release of petroleum reserves, co-ordinated by the International Energy Agency. Global oil prices spiked over fears of a prolonged disruption to energy supplies through the key Strait of Hormuz shipping route.

Meanwhile, Israel’s military says it ​hit Iranian commanders in Beirut, expanding the scope of its campaign to the heart of the Lebanese capital. An Israeli military source says the latest strike targeted five ⁠senior Iranian Quds Force members, including intelligence and finance personnel. The drone strike was the first within Beirut’s city limits since hostilities between Israel and Hezbollah resumed last week. The Lebanese Health Ministry says the death toll has reached ​394 people, including at least 83 children and 42 women.

Back home:

# North West businessman Suliman Carrim has denied claims he was an enabler in the Police Service tender agreement between SAPS and businessman Vusimusi “Cat” Matlala. He also emphasised to the Madlanga commission he has no personal or professional relationship with suspended Police minister Senzo Mchunu, SAPS counter-intelligence head Feroz Khan or suspended deputy national commissioner Shadrack Sibiya. Carrim emphasised knowing businessman Brown Mogotsi through business in North West:

# Rugby: The England Rugby Football Union has thrown its support behind head coach Steve Borthwick, despite a run of three straight losses against Scotland, Ireland and Italy in the Six Nations. RFU CEO Bill Sweeney says there will be a full examination of England’s campaign after the team’s final-round match against France in Paris on Saturday. Borthwick believes he is still the right person for the job:

# The financial indicators: The dollar trades at 16-rand-72-cents against the rand and the euro at 19-rand-33-cents. One British pound costs 22-rand-33-cents and Bitcoin trades at 68-thousand-44-dollars. Gold sells at five-thousand-104-dollars-24-cents a fine ounce and Brent crude oil is quoted at 99-dollars-42-cents a barrel.

# And finally, financial experts warn South Africans a will cannot override the legal rules governing retirement annuity death benefits. A financial planning expert from Crue Invest, Craig Torr, told Moneyweb retirement annuities are effective long-term savings tools but are regulated by the Pension Funds Act. Trustees, not the deceased’s will, must determine how funds are distributed to legal and financial dependents to ensure fair allocation. Torr says proper planning and updated beneficiary details are essential to avoid delays, disputes, and unintended outcomes.

Stay tuned for more news………….