News 08:00
BULLETIN 14 March 8 am
Good morning. I am……..
In this bulletin:
# ActionSA says the SAA-Takatso deal collapsed due to a lack of political will
# AfriForum files an urgent application against Rand Water over reduced water supply
# And, the US House of Representatives passes a bill that could see TikTok banned
# ActionSA says it is evident that the South African Airways- Takatso Consortium deal collapsed because of the customary internal opposition within the tripartite alliance, to the announced measures to privatise the national carrier. Public Enterprises minister Pravin Gordhan announced yesterday that the deal to sell 51-percent of SAA to Takatso had been called off following numerous obstacles. ActionSA’s national chairperson, Michael Beaumont, says SAA needs to be sold urgently:
# South African Reserve Bank governor Lesetja Kganyago says ethical leadership is crucial in the financial sector amid economic challenges. News24 reports Kganyago has called for increased moral capital in the financial sector amidst challenges like the rand-rigging probe and the country’s grey listing. He highlighted the widening growth gap compared to the global average, citing infrastructure deficiencies as a key factor. The governor also noted the negative impact of rising government debt. Kganyago urges a joint effort to safeguard the integrity of South Africa’s financial system.
# AfriForum says it has brought an urgent application against Rand Water. This is after the utility’s decision last week to reduce water supply to several municipalities which collectively owe it three-billion-rand. The affected municipalities include Emfuleni and Lesedi in Gauteng, Ngwathe in the Free State, and Govan Mbeki in Mpumalanga. AfriForum says Rand Water’s decision to reduce water supply, even though it might be driven by operational or financial constraints, has far-reaching implications for the affected communities.
# The US House of Representatives has passed the Protecting Americans from Foreign Adversary Controlled Applications Act, a bill that could see TikTok banned in the country. Social media giant’s Chinese parent company, ByteDance, has six months to sell its controlling stake or the app will be blocked in the US. TikTok has roughly 170-million users in America. Wisconsin Republican, who co-authored the bipartisan bill, Mike Gallagher, says the social media app poses a risk to national security:
# Olympics: Russia’s Sports minister believes his government shouldn’t boycott the Games in Paris, despite the country’s athletes not being allowed to participate under their own flag. Oleg Matytsin reacted for the first time to the International Olympic Committee’s decision that Russians may only compete as neutrals in individual events due to the country’s invasion of Ukraine. Russian team sports will not be accepted. Matytsin says Russian athletes should be allowed to participate, and Moscow should keep the possibility of dialogue open.
# And the financial indicators: The dollar trades at 18-rand-58-cents and the euro at 20-rand-34-cents. One British pound costs 23-rand-78-cents and Bitcoin trades at 73-thousand-213-dollars-70-cents. Gold sells at two-thousand-173-dollars-28-cents a fine ounce and Brent crude oil is quoted at 84-dollars-15-cents a barrel.
Stay tuned for more news………….