News 09:00

BULLETIN 30 July 9 am

Good morning. I am……..

In this bulletin:

# Minister Tau reaffirms South Africa’s commitment to conclude a US trade deal
# IMF keeps its growth forecast for South Africa stagnant
# And the Eastern Cape government is making progress in resettling flood-affected families

# Minister of Trade, Industry and Competition, Parks Tau, says the intersection of geopolitical, domestic and trade issues best defines the current impasse between South Africa and the US, and a reset is unavoidable. The new US tariffs, which South African imports into America would be subject to a 30-percent import tariff, kick in on Friday, unless a deal can be reached. The department’s spokesperson, Kaamil Alli, says negotiations remain the best tool to deal with the issues on the table:

# The International Monetary Fund’s growth forecasts for South Africa remain unchanged, while projections for global growth have lifted. In April, the IMF reduced the country’s forecast from the 1.5-percent projection in January to just 1.0-percent. In its latest World Economic Outlook, the IMF maintains that South Africa will only see an increase of one-percent this year and 1.3-percent in 2026. Meanwhile, the latest update sees global gross domestic product output this year lifting to around three-percent, up from the 2.8-percent forecast back in April.

# The Eastern Cape government says it is making significant progress in its efforts to resettle the affected families following the June floods that killed 103 people. Relocation operations have resumed in the Mnquma Local Municipality in the Amathole district and the King Sabata Dalindyebo Municipality in OR Tambo. The provincial government’s spokesperson, Khuselwa Rantjie, says while permanent housing solutions are in development, the government has prioritised the construction and allocation of temporary residential units in high-priority areas:

# Two out of three famine thresholds have been reached in Gaza, plummeting food consumption and acute malnutrition. This is according to the latest Integrated Food Security Phase Classification, a United Nations-backed initiative. According to the IPC, at least 16 children under five have died from hunger-related causes since mid-July in Gaza, World Food Programme’s Ross Smith says more than 20-thousand children have been treated for acute malnutrition since April, and more than three-thousand severely malnourished:

# Soccer: Mamelodi Sundowns’ Lucas Ribeiro Costa was the big winner at the Premier Soccer League Awards, claiming four accolades. He won both the PSL Footballer of the Season and Premiership Players’ Player of the Season, as well as Goal of the Season and Top Goal Scorer awards. Miguel Cardoso won Coach of the Season after leading Sundowns to a record eighth consecutive league title. Sundowns also received the Chairman’s Award for their performance at the FIFA Club World Cup. The Young Player of the Season went to Orlando Pirates’ Relebohile Mofokeng.

# And the financial indicators: The dollar trades at 17-rand-85-cents and the euro at 20-rand-63-cents. One British pound costs 23-rand-84-cents and Bitcoin trades at 118-thousand-205-dollars. Gold sells at three-thousand-327-dollars-58-cents a fine ounce and Brent crude oil is quoted at 71-dollars-70-cents a barrel.

Stay tuned for more news………….