News 06:00

BULLETIN 27 February 6 am

Good morning. I am……..

In this bulletin:

# Minister Godongwana says global minimum tax is important
# The SARS commissioner says tax hikes have consequences
# And Hamas cancels a public ceremony to hand over the bodies of Israeli hostages

# Finance minister Enoch Godongwana says much more work still needs to be done to ensure all countries implement international tax reforms. He was speaking on the sidelines of the G20 Finance Ministers’ and Central Bank Governors’ meeting in Cape Town on Wednesday. Godongwana says the introduction of the global minimum tax is an important step towards achieving a fairer and more sustainable tax system that will benefit all countries:

Meanwhile, South African Revenue Service Commissioner, Edward Kieswetter, says raising tax revenue should start with strengthening collection capacity, and not hiking taxes. He addressed a panel discussion at a G20 Finance Trackside event in Cape Town on Wednesday. Last week, Godongwana was unable to table the national budget, over disagreements within the government of national unity on a proposed two-percent value-added tax hike. Kieswetter says there are consequences in introducing more tax hikes:

# President Cyril Ramaphosa will deliver the keynote address at the opening of the 2025 Basic Education Sector Lekgotla today. The three-day event at the Birchwood Hotel in Benoni is running under the theme Strengthening Foundations for Learning for a Resilient Future Fit Education System. The department says the theme aligns with the African Union’s 2024 Year of Education and South Africa’s G20 agenda, focusing on early childhood development, literacy, and teacher support.

# The ANC says the reshuffling of Gauteng’s leadership is not a punishment for losing votes last year but a strategic move to strengthen the party ahead of next year’s local elections. The move is aimed at strengthening unity, rebuilding structures, and improving governance in the province. In a media briefing, ANC secretary-general Fikile Mbalula says the party remains committed to discipline and will work to restore public trust ahead of the elections: 

# A senior Hamas official says the Palestinian movement will not hold a public ceremony for the handover of the bodies of four Israeli hostages today. After Saturday’s handover of six living hostages, Israel suspended the release of hundreds of Palestinian prisoners, insisting it would free them only after Hamas halted these “humiliating ceremonies.” Since the first stage of the ceasefire took effect last month, Hamas has handed over 25 hostages alive in public ceremonies at various locations in Gaza, drawing widespread condemnation, including from the United Nations.

# Cricket: Former players and commentators believe India has an undeniable advantage in being allowed to play all its Champions Trophy matches in Dubai in the United Arab Emirates. This happens while the other seven participants have to move between three cities in host country Pakistan as well as the UAE. India refuses to play in Pakistan because of the age-old political tension between the neighbouring countries. Former England player and broadcaster Jonathan Agnew says the situation makes a farce of tournaments.

# And the financial indicators: The dollar trades at 18-rand-37-cents and the euro at 19-rand-28-cents. One British pound costs 23-rand-30-cents and Bitcoin trades at 83-thousand-930-dollar-60-cents. Gold sells at two-thousand-917-dollars-53-cents a fine ounce and Brent crude oil is quoted at 72-dollars-68-cents a barrel.

Stay tuned for more news………….