News 08:00

BULLETIN 20 March 8 am

Good morning. I am……..

In this bulletin:

# Deputy president Mashatile says abandoning broad-based black economic empowerment is not an option
# Glencore’s ferrochrome unit could walk away from talks with the government
# And athletics: Miné de Klerk and Karabo Letebele will miss the Indoor Championships in Poland

# Deputy president Paul Mashatile says government will not abandon the broad-based black economic empowerment policy, emphasising that it remains imperative for South Africa’s economic evolution. The policy has received criticism, including from the US, which is calling for it to be scrapped. Responding to questions in the National Assembly yesterday, Mashatile outlined the proposed two-phase review of the B-BBEE Framework, which is intended to refine the empowerment model to achieve more effective and widespread transformation:

# Glencore’s South African ferrochrome unit is threatening to walk away from talks with the government over a discounted electricity package. Last month, Eskom offered the country’s two biggest ferrochrome firms, including the Glencore unit, heavily discounted electricity in a bid to rescue their troubled operations. Glencore deferred laying off about one-thousand-500 employees at its ferrochrome until March 31st to allow ongoing negotiations. Glencore Ferroalloys CEO Japie Fullard says some conditions in the package deal are unacceptable to the company.

# ActionSA has welcomed Tshwane mayor, Nasiphi Moya’s decision to place mayoral committee member for Corporate and Shared Services, Kholofelo Morodi, on special leave. Testimony before the Madlanga Commission of Inquiry revealed that Morodi shared confidential tender-bidding documents with Gauteng Organised Crime Unit officer Fannie Nkosi. ActionSA’s national chairperson, Michael Beaumont, says the party will always act immediately to establish the full truth and mete out accountability where warranted:

# Israeli prime minister Benjamin Netanyahu says his country acted alone in striking Iran’s key energy site, the South Pars field, earlier this week. US president Donald Trump has distanced himself from Israel’s attack on the world’s largest gasfield, claiming that Washington knew nothing about it. Israel previously claimed that the strike was coordinated with America. Netanyahu also dismissed claims that Israel dragged the US into the war with Iran, stating that this is fake news:

# Athletics: The South African team set to participate in the World Athletics Indoor Championships in Poland this weekend will be without Miné de Klerk and Karabo Letebele. De Klerk, the women’s national record holder in shot put, was forced to withdraw due to a delayed flight. The visa application of 19-year-old USA-based sprinter Letebele was denied. Athletics South Africa acting president, John Mathane, says it is unfortunate that the pair will not be taking part, but they trust in the athletes who have made it to Poland.

# And the financial indicators: The dollar trades at 16-rand-75-cents and the euro at 19-rand-36-cents. One British pound costs 22-rand-45-cents, and Bitcoin trades at 70-thousand-469-dollars. Gold sells at four-thousand-731-dollars-32-cents a fine ounce, and Brent crude oil is quoted at 103-dollars-11-cents a barrel.

Stay tuned for more news………….