News 13:00

BULLETIN 4 June 1 pm

Good afternoon. I am……..

In this bulletin:

# The National Treasury removes defaulting municipalities from Eskom’s debt relief scheme
# Transnet completes a four-billion-rand investment at the Saldanha iron ore terminal
# And rugby: Nine South African players are in the United Rugby Championship’s Elite 15

# The National Treasury has issued termination letters to 13 municipalities and plans similar action against 14 others for failing to meet conditions of the municipal debt relief programme. The scheme was introduced in 2023 to help municipalities settle historic debt owed to Eskom. Treasury says compliance stands at just 66-percent, while municipal debt to Eskom has climbed to over 111-billion-rand. Affected municipalities may remain in the programme if they sign agreements allowing Eskom to temporarily manage electricity billing and revenue collection.

# Transnet has announced the completion of a four-billion-rand investment in Africa’s largest iron ore export facility, the Saldanha iron ore terminal on the West Coast. The infrastructure expansion project includes the installation of a heavy-duty tippler used to empty rail wagons. Transnet Port Terminals’ CEO Jabu Mdaki says the installation of the new tippler achieved an estimated contribution of 45-percent in local content, and supported about one-thousand-500 jobs during peak construction activities. He adds the project is expected to generate broader economic benefits across the iron ore export value chain.

# Johannesburg’s Emergency Management Services is on high alert as a cold front sweeps across Gauteng. Wet and cold weather conditions are expected in the province from today. Johannesburg is forecast to reach a high of 15 degrees Celsius, and there is an 86-percent chance of rain. Spokesperson Robert Mulaudzi urges residents to exercise caution when using heating devices, and not to leave them unattended:

Moving abroad:

# Canadian prime minister Mark Carney says his Liberal government will soon introduce legislation on forced labour in supply chains. The US has proposed new tariffs of 10- to 12.5-percent for over 60 countries it accuses of failing to address the importing of goods made with forced labour. The US Trade Representative’s office has proposed a new ten-percent levy on Canada. Carney says his government supports the overall objective of combating forced labour:

# Rugby: Nine South Africans were included in the United Rugby Championship’s Elite 15 announced by the organisers. The Stormers are being represented by flyhalf Sacha Feinberg-Mngomezulu, loosehead Ntuthuko Mchunu and eighthman Evan Roos, and the Bulls by hooker Johan Grobbelaar, lock Cobus Wiese and scrumhalf Embrose Papier. The other South Africans are Ulster’s wing, Werner Kok, Lions fullback Quan Horn, and Lions flanker Ruan Venter. The semifinals of the competition are taking place this weekend.

# And the financial indicators: The dollar trades at 16-rand-25-cents and the euro at 18-rand-89-cents. One British pound costs 21-rand-84-cents and Bitcoin trades at 62-thousand-806-dollars. Gold sells at four-thousand-462-dollars-65-cents a fine ounce and Brent crude oil is quoted at 95-dollars-50-cents a barrel.

Stay tuned for more news………….