News 07:00

BULLETIN 11 February 7 am

Good morning. I am……..

In this bulletin:

# Raymond Parsons warns about the economic impact of the US tension
# Hamas is delaying the release of Israeli hostages
# And cricket: The Proteas and Pakistan play for a place in the tri-nations final against New Zealand

# A serious break in economic relations with a major trading partner like the US could have collateral consequences for South Africa. This is according to North West University Business School economist, professor Raymond Parsons. This follows unprecedented action taken by the US against South Africa in response to misinformation around the Expropriation Act. Parsons says the country needs to urgently respond to the latest threats from the Trump administration and make the economy as ‘Trump-proof’ as possible:

Meanwhile, the American Chamber of Commerce in South Africa says the current US-SA spat should not prevent the extension of the African Growth and Opportunity Act. AGOA, which grants South Africa and more than 20 other African nations preferential access to the US, is expiring in September. President Donald Trump has halted all US aid to the country, a decision based on claims of human rights violations targeting the white Afrikaner minority. The chamber’s president, Kuseni Dlamini, says this is a time for cool heads from both countries.

# The GOOD Party has accused the Gauteng government of misappropriating over 600-million-rand meant for social relief, leaving vulnerable residents and struggling non-profit organisations without support. The party says forensic reports reveal wasteful expenditure by the provincial Department of Social Development, including funding misuse for food banks, school uniforms, and dignity packs. GOOD’s Matthew Cook claims senior officials implicated in the scandal remain in their positions despite legal recommendations for charges:

# The DA in the Western Cape says the South African Social Security Agency’s plan to phase out gold cards is rapidly approaching, yet the migration process remains severely flawed. Sassa gold cards are set to expire at the end of this month, and social grant beneficiaries are urged to replace their cards with the new Postbank Black Cards. The DA’s, Wendy Kaizer-Philander, says delays, coupled with an unreliable verification system for Social Relief of Distress grants, are causing unnecessary panic and hardship:

# Militant group Hamas says it will delay the release of more Israeli hostages planned for Saturday until further notice. It has accused Israel of breaching the ceasefire agreement. Hamas says violations by Israel include delaying the return of displaced persons to northern Gaza, targeting them with shelling and gunfire, and failing to allow the entry of humanitarian aid. Sixteen Israeli hostages have so far been freed. Israeli Defence minister, Israel Katz, has instructed the military to prepare at the highest level of alert for any possible scenario in Gaza.

# Cricket: A place in Friday’s final of the tri-nations tournament in Pakistan is on offer in tomorrow’s match between South Africa and the hosts in Karachi. This follows after both countries lost to New Zealand in the first two encounters. The Black Caps beat Pakistan by 78 runs in the opener, followed by a six-wicket victory over the Proteas to reach the final. The tournament is used as preparation for the Champions Trophy between the world’s best eight teams, starting in Pakistan next week Wednesday.

# And the financial indicators: The dollar trades at 18-rand-44-cents and the euro at 19-rand. One British pound costs 22-rand-79-cents and Bitcoin trades at 98-thousand-82-dollar-40-cents. Gold sells at two-thousand-931-dollars-89-cents a fine ounce and Brent crude oil is quoted at 75-dollars-93-cents a barrel.

Stay tuned for more news………….