News 06:00

BULLETIN 16 May 6 am

Good morning. I am……..

In this bulletin:

# The deputy Finance minister is confident in the approval of Budget 3.0
# Mining output dips as gold and platinum tumble
# And Zelensky says Russia is not serious about peace

# Deputy Finance minister David Masondo expressed confidence that the upcoming national budget will gain parliamentary approval, following two prior rejections due to coalition disagreements over tax policies. Finance minister Enoch Godongwana is scheduled to present the revised budget next Wednesday. Masondo emphasised there will be no budget 4.0 and that the revised budget reflects thorough consultations and compromises within the government of national unity. He stressed that the budget aims to stabilise public debt and promote economic growth.

# Former diplomat and international relations expert, Kingsley Makhubela, has emphasised the importance of president Cyril Ramaphosa and US president Donald Trump’s focus on resetting relations. Speaking to the SABC News, Makhubela believes that Trump’s direct approach to negotiation could benefit African nations, particularly in securing access to strategic mineral resources. He says despite previous derogatory remarks, Trump has not pursued a hostile foreign policy toward Africa:

# South Africa’s mining production dropped by 2.8-percent in March compared to last year, mainly due to sharp declines in platinum group metals and gold. Iron ore was the strongest performer, showing solid growth, increasing by 7.5-percent. Statistics South Africa’s Juan-Pierre Terblanche says despite lower output, mineral sales rose by 1.6-percent, driven by higher sales of gold, iron ore, and coal:

# Gauteng ANC Provincial Task Team co-convenor Panyaza Lesufi has stressed the importance of clamping down on criminal syndicates. Speaking during the Gauteng ANC Provincial Task Team meeting, Lesufi announced that approximately 250 individuals linked to serious crimes including kidnapping, cash-in-transit heists, and murder, have been identified. He emphasised the province’s commitment to enhancing public safety through targeted operations as well as improving service delivery:

# Ukraine’s president, Volodymyr Zelensky, says Russia is not serious about peace talks, after his Russian counterpart, Vladimir Putin, shunned talks in Turkey. Kyiv and Moscow are not known to have held direct talks at any level since soon after Russia launched its unprovoked, full-scale invasion of Ukraine in February 2022. Zelensky has stressed that his country is not the aggressor in this war, highlighting how Kyiv has offered to make compromises through many diplomatic channels. He has called for further pressure and more sanctions on Russia.

# Rugby: President Cyril Ramaphosa has paid tribute to former Springbok wing Cornal Hendricks, saying he will be remembered with pride and appreciation. The 37-year-old passed away due to a heart attack on Wednesday evening. He played 12 Tests for the Boks and represented Boland, the Cheetahs, and the Bulls. Ramaphosa says Hendricks overcame significant odds in his youth to exercise his passion for rugby. He adds that his life of personal achievement and social impact through the Cornal Hendricks Foundation has been cut short too soon.

# And the financial indicators: The dollar trades at 18-rand-1-cents and the euro at 20-rand-15-cents. One British pound costs 23-rand-97-cents and Bitcoin trades at 103-thousand-768-dollar-40-cents. Gold sells at three-thousand-240-dollars-22-cents a fine ounce and Brent crude oil is quoted at 64-dollars-67-cents a barrel.

Stay tuned for more news………….