News 11:00

BULLETIN 5 August 11 am

Good morning. I am……..

In this bulletin:

# The ANC’s national executive committee says the country’s economy is in a state of emergency
# Agri SA says South Africa needs skills and strategy amid the US tariff hike
# And the UN chief is alarmed by the worsening conditions in Sudan

# The ANC’s National Executive Committee has characterised the country’s economy as being in a state of emergency that requires drastic action. Economic growth slowed in the first quarter as the gross domestic product increased marginally by 0.1-percent. In his closing remarks following the NEC’s four-day meeting in Gauteng, ANC president Cyril Ramaphosa said urgent actions are needed to give effect to the strategic priorities contained in the Medium Term Development Plan:

Meanwhile, Agri SA has urged government to intensify negotiations by deploying skilled trade negotiators with US authorities over a 30-percent import tariff impacting South African agricultural exports. The industry body’s CEO, Johann Kotzé, warns the tariffs could hurt the citrus, grapes, wine, macadamia nuts, and ostrich leather industries. Kotzé says a pragmatic strategy is vital as the US market represents just four-percent of exports, but the broader value chain impact is serious. The organisation also calls for long-term diversification into BRICS, the Association of Southeast Asian Nations, and regional markets.

# The EFF says the parliamentary ad hoc committee established to probe the allegations made by KwaZulu-Natal police commissioner, Nhlanhla Mkwanazi, is a critical step toward addressing the deep-rooted issues plaguing the justice system. The committee has been tasked with investigating serious allegations of corruption, criminal syndicate infiltration, and political interference within law enforcement agencies. It is set to commence its work with the election of a chairperson today. The EFF says they are advocates for a chairperson who is not affiliated with the government of national unity.

Moving abroad:

# United Nations Secretary General, António Guterres, has described the situation in Sudan as a catastrophe of staggering scale and brutality. The ongoing conflict between the Sudanese Armed Forces and the paramilitary Rapid Support Forces has plunged the country deeper into turmoil. More than 12.4-million people have been displaced. Guterres’s deputy spokesperson, Farhan Haq, says the only way to ensure the protection of civilians is to end the senseless conflict:

# Tennis: World number one Jannik Sinner will return to action in the Cincinnati Open for the first time since winning Wimbledon last month. He will be the top-seed  in the tournament which starts later this week. The Italian withdrew from the Canadian Open after beating world number two, Carlos Alcaraz, in London. The Spaniard will join him in the US, as well as local player Taylor Fritz and Germany’s Alexander Zverev. The tournament in Cincinnati has undergone a major transformation, expanding to a two-week event comprising of 96 players.

# And the financial indicators: The dollar trades at 17-rand-95-cents and the euro at 20-rand-74-cents. One British pound costs 23-rand-85-cents and Bitcoin trades at 114-thousand-170-dollars. Gold sells at three-thousand-368-dollars-35-cents a fine ounce and Brent crude oil is quoted at 68-dollars-19-cents a barrel.

Stay tuned for more news………….