News 07:00

BULLETIN 23 April 7 am

Good morning. I am……..

In this bulletin:

# The International Monetary Fund cuts South Africa’s growth outlook
# The ANC cautions against reports of an assassination on Paul Mashatile
# And Olympic Games: Simone Biles hasn’t decided on her participation in the LA Games

# The International Monetary Fund has revised South Africa’s 2025 economic growth forecast down to 1-percent, significantly lower than the National Treasury’s projection of 1.5-percent in January. In March, Finance minister Enoch Godongwana was still forecasting growth of 1.7-percent this year. The IMF attributes this downgrade to escalating global trade tensions, particularly the impact of US tariffs under president Donald Trump disrupting global supply chains and dampening investor confidence. The IMF warns that continued trade disputes could further hinder global economic growth.​

# ANC treasurer-general, Gwen Ramokgopa, has cautioned against reports of an assassination attempt on deputy president Paul Mashatile. The deputy president’s motorcade was shot at last month on the N12 highway after attending an ANC meeting in Boksburg. No suspects have been identified as yet. Ramokgopa says while the ANC would assess the allegations internally, it is ultimately the responsibility of the relevant agencies of the state to investigate such incidents:

# The National Energy Regulator of South Africa has published a comprehensive strategy report outlining its vision for gas’s role in the country’s evolving energy landscape. The strategy aims to address the critical challenges facing the domestic gas industry, particularly the declining gas supply from Mozambique. Nersa says the strategy outlines key objectives, including diversifying and securing gas sources and infrastructure. The plan highlights prioritising liquefied natural gas as the most feasible option to fill the gas supply gap in the short to medium term.

# The City of Tshwane says changes to its overtime policy will not affect service delivery. This after claims on social media suggested there would be power outages due to the new rules. The changes come after the Auditor General flagged repeated breaches of the 40-hour monthly overtime limit. The city’s Selby Bokaba says emergency work like power cuts, water leaks, and sewer problems will still get extra overtime if needed:

# European Central Bank president, Christine Lagarde, says she hopes US president Donald Trump does not follow through on his threats to fire Federal Reserve chairman Jerome Powell. Trump appointed Powell during his first presidential term but is now looking into whether the Fed chief can legally be sacked before his term expires. He has been ramping up pressure on Powell to reduce interest rates, warning the US economy could slow down otherwise. Lagarde told CNBC that like herself, Powell is used to political pressure:

# Olympic Games: American gymnast Simone Biles hasn’t decided yet whether she will participate in the next Games in Los Angeles. The most decorated gymnast in history was named sportswoman of the year at the Laureus World Sports Awards on Monday. Biles says last year’s Games in Paris where she added another three gold medals to take her tally to seven, took a huge toll on her body. She says to participate in her home Games, she would need to be thrilled by the idea.

# And the financial indicators: The dollar trades at 18-rand-57-cents and the euro at 21-rand-13-cents. One British pound costs 24-rand-70-cents and Bitcoin trades at 93-thousand-51-dollar-50-cents. Gold sells at three-thousand-361-dollars-33-cents a fine ounce and Brent crude oil is quoted at 68-dollars-3-cents a barrel.

Stay tuned for more news………….