News 09:00

BULLETIN 6 October 9 am

Good morning. I am……..

In this bulletin:

# TLU SA warns against the impact of the fuel price hikes
# Donald Trump signs an executive order aimed at lowering diesel prices
# And soccer: The Argentinian great Lionel Messi plays his swansong against Benin

# Agricultural organisation TLU SA says the latest fuel price increases will put the agriculture sector under severe pressure. Petrol prices will go up between three-rand-12-cents and three-rand-33-cents per litre from tomorrow; diesel prices by between two-rand-84-cents and three-rand-24-cents a litre, while illuminating paraffin rises by four-rand-77-cents a litre. TLU SA’s Bennie van Zyl says the higher fuel costs will increase the cost of farming operations, transport and food production:

Meanwhile, the union federation COSATU says the looming massive fuel price hikes are yet another blow that the working class and the economy simply cannot afford. It’s calling on Parliament to pass the Second Special Appropriation Bill, which provides ten-billion-rand for the Central Energy Fund’s Equalisation Fund. COSATU’s Matthew Parks says this will ease the cost-of-living pressures facing workers, lower inflation and thus prevent yet another potentially devastating repo rate hike in November:

# The Judicial Service Commission has resolved to recommend to president Cyril Ramaphosa that he appoint Judges Gerald Bloem, Mmathebe Phatshoane and Esther Steyn to fill three vacancies in the Supreme Court of Appeal. During his interview yesterday, Bloem was quizzed about his ruling that ultimately banned Shell from oil and gas exploration off the Wild Coast. Phatshoane emphasised her work in being a role model for young women, while Steyn highlighted her time in the Electoral Court. The commission is conducting interviews to fill 22 vacancies across eleven courts.

# US president Donald Trump has signed an executive order to ease restrictions on the use of a tax-exempt variety of diesel, aimed at bringing down near-record diesel prices. According to the White House, the order will temporarily allow off-road ‘dyed’ diesel for highway use and defer the applicable Federal excise tax. Diesel prices skyrocketed from three-dollars-76-cents a gallon before the Iran war to a record six-dollars-53-cents a gallon in September. Speaking in Nebraska, Trump stated this will help farmers and truckers:

# Soccer: Argentinian great Lionel Messi will play his final international match in tonight’s international friendly against Benin in Buenos Aires. The 39-year-old superstar scored 125 goals in 207 matches for his country since his debut in 2005 – records for both goals and number of matches for Argentina. A mammoth crowd of 85-thousand is expected to pack the Estadio Monumental in the capital to bid farewell to their captain. Local Messi fans face a late night, with kick-off at 1am South African time tomorrow.

# And the financial indicators: The dollar trades at 16-rand-64-cents and the euro at 18-rand-66-cents. One British pound costs 21-rand-99-cents, and Bitcoin trades at 85-thousand-592-dollars. Gold sells at four-thousand-126-dollars-99-cents a fine ounce, and Brent crude oil is quoted at 103-dollars-67-cents a barrel.

Stay tuned for more news………….