News 09:00

BULLETIN 14 May 9 am

Good morning. I am……..

In this bulletin:

# An economist warns that political uncertainty around president Ramaphosa could result in weaker investor confidence
# Cosatu criticises the composition of Parliament’s impeachment committee
# And tennis: Iga Swiatek and Casper Ruud are through to the Italian Open semifinals

# Aluma Capital chief economist, Frederick Mitchell, says renewed political uncertainty around president Cyril Ramaphosa and the government of national unity could see weaker investor confidence and delayed reforms. The Constitutional Court has cleared the path for a parliamentary impeachment committee to be established into Ramaphosa’s conduct in the Phala Phala saga. Mitchell says to international investors, Ramaphosa represents the primary anchor of the GNU and the face of structural reform. He adds that any credible threat to his position will see the Rand come under immediate pressure.

# Union federation Cosatu says the composition of Parliament’s impeachment committee, established to consider the Section 89 Report on president Cyril Ramaphosa, is unconstitutional. The committee will have 31 members, with the ANC having the most seats, with nine, followed by the DA with five. Cosatu’s Matthew Parks says Parliament’s decision on how parties will be represented on the committee is unconstitutional. He says the committee includes political parties with negligible representation in Parliament:

# The Organisation Undoing Tax Abuse calls for the creation of an independent whistleblower protection authority to ensure better protection for those who expose corruption. The organisation believes such a body should have strong powers to investigate cases, protect whistleblowers, and respond quickly when retaliation occurs. OUTA’s Stefanie Fick argues that current proposals do not go far enough and leave whistleblowers exposed to risk:

# Israeli prime minister Benjamin Netanyahu says he made a “secret visit” to the United Arab Emirates at the height of the Iran war, where he met president, Sheikh Mohamed bin Zayed Al Nahyan. He claims this led to a historic breakthrough in relations between the two countries. In May, Iran launched a series of missiles and drones at the UAE. Meanwhile, the UAE has denied reports of the alleged visit by Netanyahu, saying that its relationship with Israel is not based on secrecy or clandestine arrangements.

# Tennis: Three-time champion Iga Swiatek is through to the Italian Open semifinal. The Pole defeated American fifth-ranked Jessica Pegula, 6-1, 6-2, marking this her first win over a top-ten opponent this season. Swiatek has set up a clash with Ukraine’s Elina Svitolina, who fought back to beat Kazakhstani Elena Rybakina, 2-6, 6-4, 6-4. In the men’s draw, Norwegian Casper Ruud beat Russian Karen Khachanov, 6-1, 1-6, 6-2 to reach the semifinals, where the world number 25 will face Italy’s Luciano Darderi, who defeated Spain’s Rafael Jodar, 7-6, 5-7, 6-0.

# And the financial indicators: The dollar trades at 16-rand-41-cents and the euro at 19-rand-22-cents. One British pound costs 22-rand-20-cents, and Bitcoin trades at 79-thousand-279-dollars. Gold sells at four-thousand-688-dollars-12-cents a fine ounce, and Brent crude oil is quoted at 103-dollars-17-cents a barrel.

Stay tuned for more news………….