News 07:00

BULLETIN 4 August 7 am

Good morning. I am……..

In this bulletin:

# Minister Godongwana says the interim budget will contain funds for combating gender-based violence
# South Africa’s manufacturing sector remains under pressure
# And rugby: The Stormers say preparing for the All Blacks has been a challenge

# Minister of Finance Enoch Godongwana says the Medium-Term Budget Policy Statement will set aside funds aimed at combating gender-based violence and femicide. The ANC Women’s League picketed outside the National Treasury offices in Tshwane yesterday, calling for the urgent allocation of resources to combat gender-based violence and femicide. Last year, president Cyril Ramaphosa declared the GBVF a national disaster. Godongwana told the SABC that several workstreams are currently undertaking that work:

# The National Treasury and the South African Reserve Bank have invited the public to comment on a draft manual that proposes new rules for cross-border crypto asset transactions. The measures aim to strengthen oversight, reduce illicit financial flows and provide guidance for authorised crypto service providers. The draft also clarifies when crypto transactions are considered cross-border. Under the proposal, only individuals will be allowed to transfer crypto assets offshore through authorised providers within existing foreign investment limits.

# South Africa’s manufacturing sector remained under pressure last month, with the Absa purchasing managers’ index slipping from 47.3 points to 46.8 points, marking a fourth consecutive month below the neutral 50-point level. However, the survey shows stronger domestic demand boosting production for a second consecutive month, while cost pressures eased. Manufacturers remain cautious, with weak export demand, lower business confidence and concerns over higher fuel prices weighing on the outlook.

# Cape Town mayor Geordin Hill-Lewis has lodged an intergovernmental dispute with the acting national Police minister, Firoz Cachalia, over the expansion of the Metro Police powers to include the power to investigate crimes. He says when a metro police officer confiscates an illegal gun, the city should be empowered to build a successful docket for prosecutors to gain a conviction. Hill-Lewis says the Constitution makes provision for the prospect of crime investigation taking place in the local government policing sphere:

# Russia’s Foreign Ministry has accused the North Atlantic Treaty Organisation and the European Union of sponsoring “terrorist activity”. This comes after a tourist beach was hit by an alleged Ukrainian drone in the Black Sea resort town of Gelendzhik yesterday, killing seven people, including three children, and leaving 40 others injured. The ministry’s Maria Zakharova says that not long ago, NATO and the EU declared a policy of zero tolerance towards terrorism; now they themselves have become part of international terrorist activity. Ukraine hasn’t yet commented on the strikes.

# Rugby: Stormers forwards coach, Rito Hlungwani, says the magnitude of the challenge and chance to face New Zealand had precipitated sacrifices that the players were prepared to make. The Stormers players have only just returned to work at the start of the build-up to the Vodacom United Rugby Championship season, which kicks off at the end of September. Hlungwani says in a normal off-season, they would only be starting the pre-season preparation now, with most of the emphasis on conditioning:

# And the financial indicators: The dollar trades at 16-rand-51-cents and the euro at 19-rand. One British pound costs 22-rand-17-cents and Bitcoin trades at 63-thousand-803-dollars. Gold sells at four-thousand-55-dollars-76-cents a fine ounce and Brent crude oil is quoted at 88-dollars-19-cents a barrel.

Stay tuned for more news………….