News 11:00

BULLETIN 12 August 11 am

Good morning. I am……..

In this bulletin:

# The EFF says the latest quarterly labour force survey shows the country needs new leadership
# The NUM is preparing legal action against plans to create a fully independent transmission system operator
# And Donald Trump says the US is in total control of the Strait of Hormuz

# The EFF says Statistics South Africa’s latest quarterly labour force survey is a clear indictment of government’s current economic policy direction and the evident need for new leadership. South Africa’s official unemployment rate rose to 33.6-percent in the second quarter, an increase of 0.9 percentage point from 32.7-percent in the first quarter. The number of unemployed persons grew by 345-thousand to 8.5-million. The EFF says it continues to maintain that municipalities must become engines of employment, infrastructure development, and economic relief.

# Tourism minister Patricia de Lille has welcomed the appointment of the new South African Tourism Board, citing it will provide the leadership needed to drive growth and renew the sector. The eleven-member board brings expertise in tourism, governance, finance, digital innovation and investment, and will serve for three years. Ministry spokesperson Aldrin Sampear says the board will help attract more visitors and investment, create jobs and support sustainable economic growth:

# The National Union of Mineworkers’ national executive committee has decided to legally challenge Eskom’s restructuring, saying it is willing to take the matter as far as the Constitutional Court. Last month, president Cyril Ramaphosa backed a plan for the establishment of an independent transmission system operator, ending a century-old monopoly by Eskom, and bringing in private producers and traders to create a liberalised electricity market. NUM’s general secretary, Mpho Phakedi, says this is a clear step towards privatisation:

# President Donald Trump says he does not trust Iran, insisting the US has total control over the Strait of Hormuz. Tehran earlier stated it will not open the strategic waterway, through which normally about a fifth of global oil and liquefied natural gas flows, unless Washington agrees to pay war reparations and end sanctions. Talks between Iran and Oman over the waterway are ongoing. Trump claims the US now owns the strait:

# Rugby: Lock Miles Amatosero will miss at least the Wallabies’ next match after his red card during last weekend’s victory over Japan in Osaka. He was sent off for dangerous play in the 33rd minute. Amatorsero won’t feature in this coming weekend’s return clash in Townsville, and will also miss a club match for Gordon, but could return for Australia’s match against Argentina later this month if he completes a coaching intervention programme. He reportedly has a reputation for being volatile occasionally.  

# And the financial indicators: The dollar trades at 16-rand-18-cents and the euro at 18-rand-67-cents. One British pound costs 21-rand-86-cents and Bitcoin trades at 63-thousand-685-dollars. Gold sells at four-thousand-401-dollars-55-cents a fine ounce and Brent crude oil is quoted at 92-dollars-33-cents a barrel.

Stay tuned for more news………….