News 08:00

BULLETIN 1 October 8 am

Good morning. I am……..

In this bulletin:

# Paul Mashatile says the government of national unity is creating a conducive environment for investment
# The DA believes a national minimum wage hike will deepen the unemployment crisis
# And motorsport: Renault is set to end its F1 engine programme

# Deputy president Paul Mashatile says the government of national unity’s strategic priorities are to achieve sustainable economic growth, alleviate poverty, and develop an ethical, capable developmental state. He is currently on a working visit to the UK, which is one of South Africa’s most significant bilateral partners, particularly in trade, investment, tourism, and the Just Energy Transition. Speaking to Bloomberg, Mashatile says the government of national unity is working to create a conducive environment for investment:

# The DA says it opposes any proposed increases to South Africa’s national minimum wage, as it will only worsen the country’s already extremely high unemployment rate. Monday marked the final opportunity for stakeholders to submit their written comments on potential changes to the national minimum wage. The DA’s, Michael Bagraim, says maintaining the current minimum wage level strikes a necessary balance between protecting existing workers and opening the doors to employment:

# ANC deputy secretary general Nomvula Mokonyane says DA Federal chairperson Helen Zille lacked the authority to dictate ANC leadership decisions. This comes after Zille accused the ANC of placing the government of national unity’s future in jeopardy by instituting a motion to remove the DA-led coalition in Tshwane. Cilliers Brink was ousted as mayor last Thursday. Mokonyane says Zille’s views were inconsistent, as the DA collaborates with others to undermine the ANC’s potential in various regions. She adds that they are committed to bringing stability to Tshwane.

# The Israel Defence Forces says it has begun a limited, localised, and targeted ground operation against Hezbollah in southern Lebanon. It says troops will focus on removing immediate threats from Lebanese villages along the border, including Hezbollah’s ability to infiltrate northern Israel. Ninety-five people were killed in Israeli strikes across Lebanon on Monday. UK Foreign Secretary David Lammy says the situation in Lebanon is volatile and has the potential to deteriorate quickly:

# Motorsport: French manufacturer Renault has announced it will end its Formula One engine programme after the 2025 season. The decision comes ahead of the introduction of new engine regulations to F1 in 2026. This means Renault’s Alpine team will have to buy engines from another manufacturer, with reports that it is expected to agree to a deal to have their power units supplied by Mercedes. Alpine is ninth out of ten teams in the Constructors’ Championship with just six races remaining.

# And the financial indicators: The dollar trades at 17-rand-28-cents and the euro at 19-rand-25-cents. One British pound costs 23-rand-11-cents and Bitcoin trades at 63-thousand-535-dollars-63-cents. Gold sells at two-thousand-635-dollars-96-cents a fine ounce and Brent crude oil is quoted at 71-dollars-76-cents a barrel.

Stay tuned for more news………….