News 08:00

BULLETIN 22 April 8 am

Good morning. I am……..

In this bulletin:

# The Reserve Bank says the Middle East conflict has presented risks to the country’s inflation trajectory
# The Auditor-General’s office questions SAA’s profitability
# And, president Donald Trump says the ceasefire with Iran will be extended

# The South African Reserve Bank warns that the ongoing Iran war presents significant upside risks to inflation; however, it currently expects inflation to stay within a one-percent tolerance band of its three-percent target. In its twice-yearly Monetary Policy Review, the ⁠central bank expects headline inflation to average 3.7-percent this year before easing back to target by late 2027. SARB governor Lesetja Kganyago says South Africa is better equipped to handle the energy shock due to the war compared to the 2022 crisis, crediting a lower inflation target and ongoing fiscal consolidation.

# The office of the Auditor General says that despite the South African Airways recording a profit in 2024/2025, the airline is out of control financially, and its financial figures cannot be trusted. The carrier said the fiscal year to end-March 2025 marked the second year a profit had been recorded since it exited business rescue in April 2021. AG’s office Thato Kunene told Parliament’s portfolio committee on Transport that SAA was leaking financially in supply chain management and procurement practices:

# The Organisation Undoing Tax Abuse says City Power’s new six-step approval process for solar installations is adding unnecessary costs, delays and confusion for residents and businesses. According to the organisation, people are turning to solar because of unreliable electricity supply and rising tariffs. OUTA CEO Wayne Duvenage argues existing certificates of compliance already ensure safety and legal standards are met:

# US president Donald Trump says he is extending the ceasefire with Iran at Pakistan’s request until Tehran has submitted a proposal to end the conflict permanently. The two-week ceasefire was set to end this evening. In a post on Truth Social, Trump says that, based on the fact that the government of Iran is seriously fractured, they have been asked to hold off on their attack on Iran until their leaders can come up with a unified proposal. He adds that the blockade of Iranian ports will continue.

# Cricket: A career-best century from Abhishek Sharma guided the Sunrisers Hyderabad to a crushing 47-run win over the Delhi Capitals, their third consecutive victory in the Indian Premier League. Twenty-five-year-old Sharma scored an unbeaten 135 from 68 balls, the fifth-highest score in the IPL’s history, as the Sunrisers posted 242 for two. In reply, Kiribathgala Dharmasena took four wickets to restrict the Capitals to 195 for nine. Sharma says their overall performance as a team was special:

# And the financial indicators: The dollar trades at 16-rand-48-cents and the euro at 19-rand-35-cents. One British pound costs 22-rand-27-cents, and Bitcoin trades at 77-thousand-552-dollars. Gold sells at four-thousand-763-dollars-23-cents a fine ounce, and Brent crude oil is quoted at 93-dollars-67-cents a barrel.

Stay tuned for more news………….