News 11:00

BULLETIN 4 August 11 am

Good morning. I am……..

In this bulletin:

# President Ramaphosa says all channels of communication remain open to engage with the US
# The National Treasury threatens to stop grant funding to Johannesburg
# And Donald Trump’s top aide accuses India of financing Russia’s war in Ukraine

# President Cyril Ramaphosa says the United States’ decision to impose a 30-percent tariff on South African imports highlights the urgency to adapt to increasingly turbulent headwinds in international trade. The tariff hike threatens export capacity in strategic sectors, including automotive and agroprocessing. In his weekly newsletter, the president emphasised that the country’s exports do not compete with American producers nor pose a threat to US industry. Ramaphosa says government has been engaging the US to enhance mutually beneficial trade, adding that the foremost priority is protecting export industries.

Meanwhile, Cope says the continued erosion of ethical governance under Ramaphosa’s leadership is a betrayal of the democratic values South Africans fought to uphold. The party says deputy president Paul Mashatile’s failure to declare a diamond gift from a dubious businessman, coupled with Ramaphosa’s refusal to demand accountability, exemplifies a leadership void marked by impunity. Cope’s Teboho Loate says Ramaphosa’s silence and deflection foster a culture of unaccountability that undermines public trust:

# Finance minister Enoch Godongwana has given Johannesburg mayor Dada Morero two weeks to devise a plan to curb the metro’s wasteful, irregular and unauthorised expenditure. The metro incurred over 24-billion-rand in irregular, fruitless, wasteful and unauthorised spending in the 2023/24 financial year. The minister has warned that failure to act may lead to the National Treasury withholding grant funding from the metro. Gauteng premier Panyaza Lesufi says the mayor is dealing with the concerns raised by Godongwana:

Moving abroad:

# A top aide to US president Donald Trump has accused India of financing Russia’s war in Ukraine by buying oil from Moscow. This comes just days after the Trump administration imposed a 25-percent tariff on Indian exports to America. The White House is also threatening more action if India continues Russian oil purchases. White House deputy chief of staff Stephen Miller told Fox News India is tied with China in purchasing Russian oil:

# Tennis: Wimbledon champion Iga Swiatek of Poland has become the latest seed to be knocked out of the Canadian Open in Montreal. The second seed was stunned by 19th-ranked Dane Clara Tauson in straight sets. American Madison Keys advanced to her eighth quarterfinal of the season with victory over Czech Karolina Muchova. In the men’s tournament in Toronto, Taylor Fritz battled past Czech Jiri Lehecka in three sets while Denmark’s Holger Rune suffered a surprise exit as he was beaten by Australian Alexei Popyrin.

# And the financial indicators: The dollar trades at 18-rand-1-cent and the euro at 20-rand-83-cents. One British pound costs 23-rand-91-cents and Bitcoin trades at 114-thousand-466-dollars. Gold sells at three-thousand-359-dollars-34-cents a fine ounce and Brent crude oil is quoted at 69-dollars-61-cents a barrel.

Stay tuned for more news………….