News 07:00

BULLETIN 8 July 7 am

Good morning. I am……..

In this bulletin:

# Minister Godongwana says youth unemployment must be addressed
# Over 200 suspected illegal miners were arrested in Westonaria
# And, Donald Trump threatens to pull US troops from Europe

# Minister of Finance, Enoch Godongwana, has called for a data-driven, evidence-based approach to tackling South Africa’s youth unemployment challenge. According to Statistics South Africa’s Quarterly Labour Force Survey released in May, youth unemployment stands at 60.9-percent for those aged 15-24, with an unemployment rate of 40.6-percent for those aged 25-34. Speaking at the Government Technical Advisory Centre Public Economics Conference, Godongwana stated that the challenge of youth unemployment must also be targeted with a faster-growing, inclusive economy. He added that growth requires reform and implementation.

# Business Partners Limited says rising fuel prices and global uncertainty are forcing many South African small and medium enterprises into survival mode. Its latest SME confidence index shows business confidence has declined, with more than 90-percent of businesses reporting higher operating costs due to fuel price increases. The report also revealed many businesses are responding by raising prices, cutting costs and adjusting their operations while focusing on resilience amid ongoing economic pressure.

# Parliament’s portfolio committee on Cooperative Governance and Traditional Affairs has welcomed the intent behind the National Treasury’s decision to withhold the July equitable share transfers to 69 municipalities temporarily. The list includes the City of Johannesburg, Nelson Mandela Bay, Mangaung, and Matjhabeng. Treasury says the withholding of funds is aimed at instilling fiscal discipline, ensuring that public money is properly managed, and forcing municipalities to deal with unauthorised, irregular, fruitless, and wasteful expenditure. Committee chairperson Zweli Mkhize says public representatives and municipal managers must be held accountable when financial management is compromised.

# Gauteng police arrested over 217 suspected illegal miners at Losberg Kloof Mine in Westonaria yesterday as part of Operation Prosper. This multi-agency operation forms part of an ongoing national campaign to dismantle illegal mining syndicates and transnational criminal networks operating across South Africa’s mining regions. Gauteng deputy police commissioner, Fred Kekana, says most of the illegal miners are foreign nationals from Zimbabwe, Mozambique, and Lesotho:

# US president Donald Trump has once again criticised the North Atlantic Treaty Organisation for what he perceives as a failure to help America in its war against Iran. Trump is attending NATO’s annual summit in Ankara, Turkey. He has threatened to pull American troops from Europe. The US has demanded that NATO allies increase their defence spending to five-percent for a second year running. Trump says he is very disappointed with NATO:

# Rugby: The statistics are in South Africa’s favour in Saturday’s Test against Scotland at Loftus Versfeld in Pretoria. The two countries have faced off 30 times in the past, of which the Springboks have won 25 and the Scots only five. The world champions’ biggest victory of 68-10 came at Murrayfield in Edinburgh in December 1997, when flyhalf Percy Montgomery scored 26 points. Way back in 1951, the Boks triumphed 44-0 at the same field, leading to the anecdote that Scotland was lucky to get nil.

# And the financial indicators: The dollar trades at 16-rand-28-cents and the euro at 18-rand-56-cents. One British pound costs 21-rand-73-cents and Bitcoin trades at 63-thousand-343-dollars. Gold sells at four-thousand-100-dollars-60-cents a fine ounce and Brent crude oil is quoted at 75-dollars-53-cents a barrel.

Stay tuned for more news………….