News 09:00

BULLETIN 19 March 9 am

Good morning. I am……..

In this bulletin:

# The Department of Petroleum Resources says South Africa’s fuel supply remains stable
# President Ramaphosa says he was not consulted beforehand about the disbandment of the police task team
# And, an independent committee begins hearings into the deadly Hong Kong fire

# The Department of Mineral and Petroleum Resources has again reassured South Africans that the country’s fuel supply remains stable in the immediate term. This is despite heightened volatility in global energy markets as a result of ongoing geopolitical tensions in the Middle East. The department’s spokesperson, Lerato Ntsoko, says fuel consignments scheduled for March and early April were secured before the recent escalation in global tensions. She adds that these deliveries are expected to adequately sustain national supply over the coming weeks:

# President Cyril Ramaphosa has denied approving the disbandment of the political killings task team. In a written submission to Parliament’s Ad Hoc Committee, the president stated that he was dissatisfied that he had not been consulted by suspended Police minister Senzo Mchunu about the decision to disband the task team beforehand. Ramaphosa was informed by National Police Commissioner Fannie Masemola. However, this contradicts Mchunu’s testimony last year, in which he claimed he had informed the president of the decision and received his support.

# The South African Local Government Association says it fully supports the National Treasury’s Metro Trading Services Reforms. The reforms introduce a performance-linked incentive under the Urban Development Financing Grant. This is to strengthen accountability and improve financial performance and service delivery in metropolitan trading services. Salga CEO, Sithole Mbanga, emphasised that any structural adjustments to the governance or financing of trading services must not erode council authority or weaken accountability:

# A judge-led independent committee, investigating the deadly fire that ripped through a Hong Kong housing complex in November last year, will begin a series of public hearings today. The fire at Wang Fuk Court, a high-rise apartment complex in the financial hub’s Tai Po district, killed 168 people. This was the world’s deadliest residential building fire since 1980. The committee will investigate whether fire safety standards were inadequate, if construction practices contributed to the fire, and if there were failures on the part of government officers or contractors.

# Soccer: Five-time winners Barcelona, Liverpool, Bayern München and Atlético Madrid are through to the Champions League quarterfinals. Barcelona eased past Newcastle United 7-2 to progress 8-3 on aggregate in the round of 16 second-leg. Liverpool overturned a 1-0 first-leg deficit to dismantle Galatasaray 4-0 at Anfield and secure a 4-1 aggregate victory. Harry Kane became the first English player to hit 50 Champions League goals, scoring twice as Bayern humbled Atalanta 4-1 to complete a 10-2 aggregate win. Atlético lost 3-2 against Tottenham, but progressed 7-5 on aggregate.

# And the financial indicators: The dollar trades at 16-rand-95-cents and the euro at 19-rand-45-cents. One British pound costs 22-rand-50-cents, and Bitcoin trades at 70-thousand-836-dollars. Gold sells at four-thousand-852-dollars-32-cents a fine ounce, and Brent crude oil is quoted at 108-dollars-21-cents a barrel.

Stay tuned for more news………….