News 08:00

BULLETIN 11 April 8 am

Good morning. I am……..

In this bulletin:

# Raymond Parsons says the pause on US tariffs is an opportunity for South Africa
# Parliament is concerned about Eskom’s municipal debt crisis
# And six die in a helicopter crash in the Hudson River

# North West University Business School economist professor, Raymond Parsons, says South Africa must use the 90-day pause in US tariffs to broker a better deal. The country faced a 31-percent tariff on key exports to America. However, president Donald Trump’s across-the-board ten-percent import tariffs still apply to over 60 countries. Raymond says South Africa’s negotiation stance should be based on the likelihood that the African Growth and Opportunity Act will not be renewed:

# Parliament’s select committee on Agriculture, Land Reform and Mineral Resources has expressed concern over Eskom’s persistent challenges that included the escalating municipal debt crisis, which has crippled the power utility’s financial sustainability. Eskom’s municipal debt is around 107-billion-rand. The committee says it is also concerned about continued problems with fraud, corruption, and criminality at the power utility, despite efforts to strengthen internal controls and consequence management. It has called on Eskom to be more transparent and provide regular updates on its turnaround efforts.

# The EFF has welcomed the Independent Police Investigative Directorate clearing KwaZulu-NataI Police Commissioner Nhlanhla Mkhwanazi. In 2023, he was accused of abusing his power and interfering with the arrest of a senior correctional services official who was allegedly running a drug cartel at the Westville Maximum Prison in Durban. The EFF says it maintains that the complaint formed part of a broader witch hunt, orchestrated by forces within the Police Ministry, who feel threatened by Mkhwanazi’s refusal to bow to political pressure.  

# Six people including three children have died after a passenger helicopter they were in crashed into the Hudson River in New York. Officials say the helicopter broke apart in midair and crashed upside down into the river. Five of the passengers were a family visiting from Spain and the sixth person was the pilot. New York City Police Department commissioner, Jessica Tisch, says the National Transportation Safety Board will lead the investigation into the crash:

# Golf: France’s Perrine Delacour and Germany’s Aline Krauter fired rounds of seven-under-par 65, to share the lead after the first round of the South African Women’s Open in the Western Cape. They lead by a single stroke over Namibia’s Bonita Bredenhann, France’s Lucie Malchirand, and the Czech Republic’s Sara Kouskova. This is the final tournament on this year’s Sunshine Ladies Tour. Krauter says she is happy with her opening round performance:

# And the financial indicators: The dollar trades at 19-rand-35-cents and the euro at 21-rand-42-cents. One British pound costs 25-rand-22-cents and Bitcoin trades at 80-thousand-563-dollar. Gold sells at three-thousand-216-dollars-43-cents a fine ounce and Brent crude oil is quoted at 62-dollars-74-cents a barrel.

Stay tuned for more news………….