News 08:00

BULLETIN 8 July 8 am

Good morning. I am……..

In this bulletin:

# Eskom is facing an annual loss of 15-billion-rand
# France is heading for a hung parliament
# And cricket: The second women’s T20 between SA and India is washed out

# Eskom CEO Dan Marokane says an end to load-shedding will mean that the power utility could be profitable next year. Eskom is reportedly facing an annual loss of 15-billion-rand, which is largely due to the 33-billion-rand spent on buying diesel. The power utility has successfully achieved over 100 consecutive days without load-shedding, due to its multi-dimensional generation operational recovery plan. Marokane says they have cut down on diesel, and if they maintain this trajectory, they could see a substantial financial improvement this year.

# The DA is demanding minister of Energy and Electricity, Kgosientsho Ramokgopa, immediately review the ministerial determination to procure new nuclear power. This comes as the ministry is reportedly planning to secure funding approval soon for a two-thousand-500 megawatt nuclear power plant. The proposed power station would be bigger than the Koeberg plant, north of Cape Town. The DA’s, Kevin Mileham, says the minister needs to take the appropriate steps to rectify the non-compliance of nuclear power procurement:

# The Portuguese Forum is concerned about the increase in kidnappings of Portuguese business owners for ransom. Last week, police rescued two business owners in Johannesburg. Five alleged kidnappers were detained following the rescue of a second businessman from Nancefield Hostel. Forum chairperson Manny Ferreirinha told the SABC these incidents traumatise victims and their families. He calls for a stop to the kidnappings:

# Exit polls show France’s left-wing coalition the New Popular Front is on course for victory in the second round of the snap elections. This means the country is heading for a hung parliament with no party winning a majority. The New Popular Front won 182 seats, while president Emmanuel Macron’s centrist Ensemble alliance won 163 seats. The far-right National Rally, which took a commanding lead in the first round won 143 seats. Prime minister Gabriel Attal says he will resign as voters have rejected the prospect of an extreme government.

# Cricket: The second of three Women’s T20 Internationals between South Africa and India was called off at the halfway stage due to rain in Chennai. Tazmin Brits scored her second consecutive half-century to help South Africa post a competitive total of 177 for six in their 20 overs. Rain delayed India’s chase and eventually, the game was abandoned, leaving the visitors still leading the series one-nil after winning the first T20 by 12 runs. The third and final match will take place at the same venue tomorrow.

# And the financial indicators: The dollar trades at 18-rand-18-cents and the euro at 19-rand-69-cents. One British pound costs 23-rand-29-cents and Bitcoin trades at 55-thousand-187-dollars-88-cents. Gold sells at two-thousand-383-dollars-21-cents a fine ounce and Brent crude oil is quoted at 86-dollars-34-cents a barrel.

Stay tuned for more news………….