News 11:00

BULLETIN 2 April 11 am

Good morning. I am……..

In this bulletin:

# OUTA welcomes the fuel levy cut but slams government’s late decision-making
# The Competition Commission flags the persistent cost-of-living pressures in its latest report
# And motorsport: The F1 Academy is replacing the Saudi round with extra races in Montreal and Austin

# The Organisation Undoing Tax Abuse says government’s fuel levy cut came too late, despite clear signs of steep increases earlier in the month. It says while the reduction will help ease pressure on consumers and limit rises in transport and food costs, the delay caused uncertainty for households and businesses. CEO Wayne Duvenage calls for earlier fuel price communication and greater transparency on strategic oil reserves before next month’s adjustment:

# The Competition Commission’s second cost of living report shows prices for essentials such as electricity, water, food, healthcare, and education have risen faster than overall inflation since 2020. Electricity is up about 85-percent and water 68-percent, while staple foods like eggs, chicken, maize meal, and sunflower oil remain high even when production costs fall. The commission’s Siyabulela Makunga says more transparency is needed in pricing to help reduce pressure on consumers.

# The DA in Gauteng says premier Panyaza Lesufi has given in to the EFF’s threats to destabilise the province. Lesufi announced sweeping changes to his cabinet last night, including the EFF’s Nkululeko Dunga becoming the new MEC for Finance. This is a position previously held by Lebogang Maile, who has now been reassigned to lead the Education portfolio. The DA’s Solly Msimanga says the changes are merely Lesufi’s desperate move for survival:

Moving abroad: 

# President Donald Trump says the US doesn’t need any oil imported through the Strait of Hormuz, adding countries that need it should take the lead in reopening it. Iran has effectively blocked one of the world’s busiest oil shipping channels since the US and Israel attacked the country in February. Trump claims the strait would reopen as soon as the war ends, and fuel prices will rapidly come back down:

# Motorsport: The all-female F1 Academy has compensated for the cancellation of the Saudi Arabian racing round by adding events in Montreal, Canada, and Austin in Texas. The revised schedule ensures the series maintains a total of 14 races across six rounds spanning five countries. F1 cancelled this month’s races in Bahrain and Saudi Arabia amid the ongoing conflict in the Middle East. The academy is also shaking up its race weekend structure with the introduction of a brand-new three-race format at select rounds.

# And the financial indicators: The dollar trades at 16-rand-97-cents and the euro at 19-rand-58-cents. One British pound costs 22-rand-44-cents and Bitcoin trades at 66-thousand-677-dollars. Gold sells at four-thousand-604-dollars-81-cents a fine ounce and Brent crude oil is quoted at 105-dollars-73-cents a barrel.

Stay tuned for more news………….