News 08:00

BULLETIN 15 May 8 am

Good morning. I am……..

In this bulletin:

# Jacob Zuma will be appealing against the ruling that ordered the delayed arms deal trial to proceed
# Parliament’s Ethics Committee recommends sanctions against David Skosana and Dean Macpherson
# And, the International Monetary Fund warns that if the Iran war continues, it will bring the global economy closer to an “unfavourable” scenario

# Former president Jacob Zuma has instructed his legal team to appeal the ruling by the KwaZulu-Natal High Court in Pietermaritzburg, which ordered his long-delayed arms deal corruption trial to proceed. Zuma and French arms manufacturer Thales face corruption charges linked to the multibillion-dollar 1999 arms deal. Judge Nkosinathi Chilli stated that it is in the interest of justice that the trial commences regardless of any applications or pending appeals. JG Zuma Foundation spokesperson, Mzwanele Manyi, says the judgment is totally erroneous:

# Parliament’s Joint Committee on Ethics and Members’ Interests has resolved that the complaints lodged against MK Party’s David Mandla Skosana and the DA’s Dean Macpherson have merit. Skosana has been found guilty of breaching ethics for undisclosed business interests and intimidating a female journalist. Macpherson was found to have breached the ethics code for calling ActionSA supporters “amaphara”, a term commonly used to describe criminals, drug addicts and social parasites. The committee has made recommendations as to appropriate sanctions for consideration by both houses of Parliament.

# The International Monetary Fund is warning that the continued disruption from the Iran war is pushing the global economy toward a more “adverse” scenario, marked by weaker growth and higher inflation risks. It says global growth could slow to 2.5-percent, down from the 3.1-percent forecast in its baseline outlook. The blocking of the Strait of Hormuz, which normally sees about a fifth of global oil and gas supplies pass through it, has caused energy prices to skyrocket worldwide. The IMF says inflation expectations are still reasonably well anchored.

# Golf: Defending champion Scottie Scheffler is part of a seven-way tie for the PGA Championship lead after an opening-round 67 at the Aronimink Golf Club in Pennsylvania. The American sits at the top of a congested leaderboard with South Africa’s Aldrich Potgieter, Australia’s Min-Woo Lee, German pair Martin Kaymer and Stephan Jaeger, Japan’s Ryo Hisatsune and American Alex Smalley. Northern Irishman Rory McIlroy finished seven shots behind the leaders with a four-over 74. Scheffler says it was a tough opening round:

# The financial indicators: The dollar trades at 16-rand-53-cents and the euro at 19-rand-26-cents. One British pound costs 22-rand-11-cents, and Bitcoin trades at 81-thousand-31-dollars. Gold sells at four-thousand-611-dollars-98-cents a fine ounce, and Brent crude oil is quoted at 104-dollars-3-cents a barrel.

# And finally, thirty-eight recipients will receive the National Orders next week. These are the highest awards that South Africa bestows on citizens and eminent foreign nationals who have contributed to the advancement of democracy and improved the lives of citizens. Springbok coach Rassie Erasmus will receive the Order of Ikhamanga in Gold for his inspirational leadership in rugby. Professor Salim Abdool Karim will be awarded the Order of Mapungubwe in Gold for his contribution to medical science and public health. Other recipients include Adele Kirsten, Wouter Kellerman and Mali’s Cherif Keita.

Stay tuned for more news………….