News 09:00

BULLETIN 22 October 9 am

Good morning. I am……..

In this bulletin:

# The FF Plus welcomes the counterbalance in the Mini-budget
# The MK Party says the temporary relief on fuel levies is just an election ploy
# And, the US orders its embassy staff and their families to leave Saudi Arabia

# The Freedom Front Plus says a welcome counterbalance in the Medium-Term Budget Policy Statement is the higher-than-projected tax revenue and the stabilisation of the budget deficit and associated government debt. Minister of Finance Enoch Godongwana announced a downward revision of the government’s economic growth forecast for 2026 to 1.2-percent from 1.6-percent projected in the February budget. The FF Plus says a concern is that the minister increased government expenditure in response to the higher tax windfall of 17-billion-rand, rather than building up contingency reserves.

Meanwhile, the MK Party says it will not be fooled by temporary unsustainable measures presented in the Mini-budget, amidst a long-standing economic crisis. The party’s Kwenza Madlala says the only acceptable budgetary provision is one which places employment creation at the centre and facilitates economic growth. He says the temporary relief on fuel levies, which will see the diesel levy drop by three-rand per litre and the petrol levy by one-rand-50-cents per litre, is nothing but cynical and blatant electioneering:

# The Eastern Cape Department of Health is investigating 111 cases of gastroenteritis reported among students and staff at Rhodes University in Makhanda. Affected individuals began presenting with diarrhoea, stomach cramps, vomiting, and fever this past weekend. The department’s spokesperson, Siyanda Manana, says preliminary water tests conducted at the university have raised contamination concerns, detecting high coliform counts, the presence of E. coli, and low chlorine levels:

# The US State Department has ordered non-essential staff and family members at its embassy and satellite consulates in Riyadh, Saudi Arabia, to leave the country. This is amid intensifying attacks by the Iranian-supported Houthis in Yemen. On Wednesday, Saudi Arabia intercepted seven drones, including one targeting the Shaybah oil field, which left two people dead. At least one person was killed and eight others injured in an attack on the King Fahd International Airport yesterday. The department has also issued a security alert for US citizens in Saudi Arabia.

# Soccer: Declan Rice scored a late equaliser as Arsenal drew two-all against Bayern Munich in the Champions League in Germany. Eberechi Eze scored the opening goal for the Gunners before Harry Kane responded for the hosts with his tenth successive goal in the competition. Bayern then won a penalty, which Kane scored before Rice’s equaliser. Fifteen-time champions Real Madrid maintained their perfect start to the competition with a 4-1 victory against Leipzig. Three-time champions Manchester United were humiliated by Como, losing 4-1, while Aston Villa defeated Viking 3-1.

# And the financial indicators: The dollar trades at 16-rand-39-cents and the euro at 18-rand-43-cents. One British pound costs 21-rand-97-cents, and Bitcoin trades at 82-thousand-819-dollars. Gold sells at four-thousand-91-dollars-60-cents a fine ounce, and Brent crude oil is quoted at 111-dollars-87-cents a barrel.

Stay tuned for more news………….