News 15:00

BULLETIN 21 May 3 pm

Good afternoon. I am……..

In this bulletin:

# South African companies eye more investment in Botswana
# Meta’s latest round of layoffs will see eight-thousand jobs cut
# And tennis: Nadal’s documentary series will debut at the start of the French Open

# President Cyril Ramaphosa says several South African companies want to expand investments in Botswana to boost job creation and skills development. Speaking at the sixth South Africa-Botswana bi-national commission summit, Ramaphosa praised the long-standing ties between the neighbouring countries and thanked Botswana for supporting South Africa’s anti-apartheid struggle. He says the commission remains important for strengthening cooperation, balancing trade and identifying new opportunities for economic growth and regional prosperity:

# The South African Chamber of Commerce and Industry says global developments, including the Middle Eastern conflict and rising crude oil prices, are negatively affecting local trade conditions. The April Trade Conditions Survey shows 75-percent of businesses reported higher input costs, with most expecting further increases in the next six months. The Trade Activity Index dropped from 50 to 43, while sales volumes and new orders declined. SACCI CEO Alan Mukoki says rising fuel and electricity costs place pressure on businesses, and employment expectations.

# The MK Party is calling for deputy minister in the Presidency Steve Letsike to resign as vice president of the South African Pharmacy Council. The party says Letsike’s dual role raises concerns over governance, ethics and the independence of the regulator. MK Party’s Patrick Motubatse told SABC News a serving deputy minister should not hold office in an independent statutory body, warning that it could undermine public confidence:

Moving abroad:

# The owner of social media platforms such as Facebook and WhatsApp, Meta, has started its latest round of layoffs this week, cutting ten-percent of its workforce, roughly eight-thousand staff. Workers affected so far include those in cybersecurity, integrity, and content design. Meta says the job cuts are all part of its continued effort for more efficiency, and to allow it to offset the other investments it is making, including in artificial intelligence. Meta has already cut around two-thousand workers in two smaller rounds of layoffs this year.

# Tennis: Former Spanish great Rafael Nadal says he tried to be honest and transparent in his forthcoming documentary series. The series will be streamed on Netflix from Sunday at the start of the French Open, which he had won a record 14 times. Thirty-nine-year-old Nadal describes it as a combination of his sporting career and the difficulties he had faced, saying it’s a genuine documentary that doesn’t paint everything in rosy colours. It was filmed during his final season before his retirement at the end of 2024.

# And the financial indicators: The dollar trades at 16-rand-53-cents and the euro at 19-rand-20-cents. One British pound costs 22-rand-21-cents and Bitcoin trades at 77-thousand-286-dollars. Gold sells at four-thousand-513-dollars-32-cents a fine ounce and Brent crude oil is quoted at 103-dollars-49-cents a barrel.

Stay tuned for more news………….