News 09:00

NEWSFLASH NEWS AGENCY 15 November 9 am

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In this bulletin:

# Minister Didiza is pleased with the agricultural sector’s positive contribution to job creation
# Treasury withdraws the proposed amendment to the Income Tax Act
# And, the Webb Ellis trophy is safe following a burglary at SA Rugby’s head offices

# The Minister of Agriculture, Land Reform and Rural Development Thoko Didiza says she is pleased with the agricultural sector’s positive contribution to the creation of employment in the country. The latest Quarterly Labour Force Survey data shows that the agricultural sector has once again created new jobs amounting to 61-thousand in the third quarter, thus increasing the total employment to 956-thousand. The department’s spokesperson, Reggie Ngcobo, says this is the highest employment figure in agriculture since the start of the modern democratic era:

Play sound: ENG ReggieonSector

# National Treasury has withdrawn the proposed amendment to the Income Tax Act related to rules governing offshore entities of South African multinationals. The amendment aims to implement the Supreme Court of Appeal’s decision in the Coronation case, impacting SA multinationals. Despite withdrawal due to Constitutional Court proceedings, legislative changes are expected, affecting companies with similar offshore structures. Tax experts anticipate potential amendments regardless of the court outcome. The Constitutional Court’s decision may influence the reintroduction of the proposed amendment.

# The eThekwini Municipality in KwaZulu-Natal says it is working closely with the specialised multidisciplinary Economic Infrastructure Task Team, to curb damage to and theft of economic infrastructure. The municipality’s spokesperson, Gugu Sisilana, says internal investigations are also underway to expose criminal syndicates involved in the theft of critical economic infrastructure. She says these include copper cables, electrical conductors, transformers, scrap metals, street lights, and electrical fittings:

Play sound: ENG GuguonInfrastructureCrime

# Palestinian military group Hamas says it holds US president Joe Biden responsible for the Israel Defence Force carrying out an operation at the Al-Shifa Hospital in Gaza City. Israel claims that Hamas has built its headquarters in bunkers and tunnels under the hospital, effectively using the building, patients and staff as a human shield. The US says it has intelligence backing Israel’s claim. Hamas has denied using the hospital for its operations and has called for an international committee to come in and inspect.

# The South African Rugby Union says all trophies including a replica of the Webb Ellis Cup are safe after the SA Rugby’s head offices in Plattekloof, Cape Town, were broken into and robbed on Monday evening. Western Cape police spokesperson FC van Wyk says two suspects gained entrance into the office complex, which houses Saru House among other things, through a window on the ground floor. He says at the first company, five signed Springbok jerseys, whisky, and eight laptops were taken. From another company, 60 laptops were stolen.

# And the financial indicators: The dollar trades at 18-rand-21-cents and the euro at 19-rand-83-cents. One British pound costs 22-rand-76-cents and Bitcoin trades at 35-thousand-513-dollars-3-cents. Gold sells at one-thousand-967-dollars-65-cents a fine ounce and Brent crude oil is quoted at 82-dollars-64-cents a barrel.

Stay tuned for more news………….