News 11:00

BULLETIN 27 November 11 am

Good morning. I am……..

In this bulletin:

# Eskom says the credit rating upgrade underscores its progress
# The Israel Defence Force warns displaced Lebanese residents not to return home
# And Olympic Games: India also shows interest in hosting the 2036 Games

# Eskom says S&P Global upgrading its credit ratings from stable to positive is a clear indicator of the progress it is making in strengthening its financial and operational foundation. The power utility says this decision reflects S&P Global’s confidence in the impact of the 254-billion-rand financial support package introduced through the Debt Relief Act. Eskom CEO Dan Marokane says they will continue to focus on implementing generation recovery, strengthening governance and tackling crime and corruption, while future-proofing the organisation to enable energy security.

# The Free Market Foundation is calling on government to urgently adopt a broad agenda of sound money reforms. This is to reverse decades of economic decline and restore prosperity. The foundation recently released its latest policy paper, which contains policy recommendations and proposed reforms to strengthen the soundness of money in South Africa. The foundation’s CEO, David Ansara, says addressing the disproportionate impact of inflation on South Africa’s poorest communities is important:

# Western Cape Education MEC David Maynier is urging matrics to celebrate the end of their school career responsibly and safely. The final matric exams, Agricultural Management Practices, Marine Sciences Paper 2, and Design Paper 1, are being written today, bringing an end to the five-week exam period. Maynier says matrics who will be attending pens down parties must set up a buddy system for their safety, as well as keep in regular contact with their parents:

# The Israeli Defence Force has warned residents displaced by fighting and evacuation orders not to return to their homes in southern Lebanon. This is despite a 60-day ceasefire between Israel and Hezbollah coming into effect this morning. The ceasefire stipulates that the Israeli military must withdraw completely from southern Lebanon. Meanwhile, United Nations Secretary-General António Guterres says he hopes the ceasefire agreement can put an end to the violence, destruction and suffering the people of both countries have been experiencing.

# Olympic Games: India has also expressed interest in hosting the 2036 Olympic Games. This follows the news that a feasibility study, guided by the International Olympic Committee, will assess South Africa’s readiness to make a bid. The president of World Athletics, Sebastian Coe, who is a candidate to become president of the IOC, says he is delighted with India’s announcement. But he cautions the country that organising an Olympics was one of the world’s most complex projects.

# And the financial indicators: The dollar trades at 18-rand-12-cents and the euro at 19-rand-1-cent. One British pound costs 22-rand-80-cents and Bitcoin trades at 93-thousand-30-dollars-67-cents. Gold sells at two-thousand-644-dollars-20-cents a fine ounce and Brent crude oil is quoted at 72-dollars-88-cents a barrel.

Stay tuned for more news………….