News 08:00
BULLETIN 24 November 8 am
Good morning. I am……..
In this bulletin:
# President Ramaphosa says those responsible for delays at the Richards Bay port will be held accountable
# Saftu says the Reserve Bank is clinging to restrictive policies at the expense of the working-class
# And tennis, Serbia will face Italy in the Davis Cup semifinals
# President Cyril Ramaphosa says those responsible for the impasse that led to unprecedented truck congestion on KwaZulu-Natal’s N2 highway to enter the Richards Bay port must be held accountable. He visited the port yesterday to assess what was causing the delays. Trucks have been queuing for days, waiting to collect and deliver goods at the harbour. Ramaphosa says a full diagnosis has been done on the challenges faced by Transnet and he has been assured that the problem will be resolved speedily.
# The South African Federation of Trade Unions says it is disappointed that the South African Reserve Bank continues to pursue a restrictive monetary policy. The bank’s Monetary Policy Committee has kept the repo rate unchanged at 8.25-percent, leaving the prime lending rate at 11.75-percent. Saftu’s national spokesperson, Trevor Shaku, says a restrictive monetary policy harms growth prospects and hurts the working class more than any other section of the economy:
# Western Cape MEC of Finance and Economic Opportunities, Mireille Wenger, says in spite of a challenged post-COVID-19 global economy, they continue to see job creation and economic growth improve. She tabled the Municipal Economic Review and Outlook 2023/2024 in the Western Cape Provincial Parliament this week. Wenger says the outlook reflects the province’s adaptability and resilience in the face of changing economic paradigms:
# The number of anti-Semitic and anti-Muslim hate crimes in Canada’s largest city, Toronto, has spiked since the start of the conflict between Israel and Hamas last month. A total of 78 hate crimes had been reported between the seventh of last month and the 20th of this month, compared to 37 in the same time frame last year. The number of reported anti-Semitic hate crimes in this period almost trebled to 38 from 13 last year, while those involving the Muslim, Palestinian, and Arab population spiked to 17 from just one last year.
# Tennis: Serbia is through to the Davis Cup semifinals after beating Britain two-nil in Malaga, Spain. Novak Djokovic defeated Cameron Norrie, 6-4, 6-4, while Miomir Kecmanovic beat Jack Draper 7-6, 7-6. Britain, who last won the Davis Cup in 2015, will not automatically qualify for next year’s knockout stage after their quarterfinal exit in Malaga. Serbia will face Italy tomorrow, after Jannik Sinner inspired his team to a comeback win over the Netherlands, winning his singles and a decisive doubles match.
# And the financial indicators: The dollar trades at 18-rand-82-cents and the euro at 20-rand-52-cents. One British pound costs 23-rand-59-cents and Bitcoin trades at 37-thousand-378-dollars-50-cents. Gold sells at one-thousand-992-dollars-41-cents a fine ounce and Brent crude oil is quoted at 81-dollars-27-cents a barrel.
Stay tuned for more news………….