News 11:00
BULLETIN 22 November 11 am
Good morning. I am……..
In this bulletin:
# The SA Association of Freight Forwarders says the country’s commercial ports are in a crisis
# PetroSA is pushing to partner with Russia’s Gazprombank despite concerns
# And, president Biden has welcomed the hostage release deal between Israel and Hamas
# The South African Association of Freight Forwarders says the country’s commercial ports and its extended end-to-end logistics network are currently in a crisis. Transnet estimates that backlogs and delays in moving shipping containers through its key port in Durban have so far cost it at least 160-million-rand in lost revenue. Around 71-thousand containers are stuck on ships either in Durban harbour or waiting offshore. The association’s, Mike Walwyn, says all economic actors have a vested interest in commercial ports operating at full tilt:
# The state-owned Petroleum Oil and Gas Corporation of South Africa wants to partner with Russia’s Gazprombank to restart the gas-to-liquids refinery in Mossel Bay, despite concerns. According to the amaBhungane Centre for Investigative Journalism, the PetroSA bid evaluation committee and the board raised concerns about partnering with Gazprombank, which is under US sanctions. However, PetroSA reportedly pushed back arguing that the risk of South Africa facing sanctions over its relationship with Russia was low. The state-owned entity is looking for a partner willing to invest at least 3.7-billion-rand to refurbish the refinery.
# The DA in Gauteng says neither premier Panyaza Lesufi, nor his so-called crime wardens have the capacity or dedication to tackle gang-related violence head-on. In the latest incident, a suspected leader of the notorious Varadas gang in Westbury on the West Rand was gunned down in an apparent hit outside a gym yesterday morning. The DA’s, Solly Msimanga, says they are calling on Lesufi to urgently establish an independent commission of enquiry into the rampant gang violence in the province:
# US president Joe Biden has welcomed the deal struck by Israel and Hamas, which will see the release of 50 women and children hostages in Gaza and a four-day ceasefire. The freed hostages will include three Americans, one of them a three-year-old girl. The agreement also involves swapping the hostages for 150 Palestinian women and children from Israeli jails. Biden says he is extraordinarily gratified that some of the hostages, who have endured an unspeakable ordeal, will be reunited with their families once the deal is implemented.
# Soccer: Bafana Bafana coach Hugo Broos expressed his disappointment at his side’s performance against Rwanda in their 2026 World Cup qualifier in Butare. Ranked 140th in the world, Rwanda pulled off a famous victory in their first-ever fixture against South Africa, to top Group C and end Bafana Bafana’s 12-game unbeaten streak. Broos says their defeat could not be solely attributed to the challenging pitch conditions:
# And the financial indicators: The dollar trades at 18-rand-67-cents and the euro at 20-rand-36-cents. One British pound costs 23-rand-38-cents and Bitcoin trades at 36-thousand-547-dollars-37-cents. Gold sells at two-thousand-dollars-83-cents a fine ounce and Brent crude oil is quoted at 82-dollars-17-cents a barrel.
Stay tuned for more news………….