News 11:00

BULLETIN 27 March 11 am

Good morning. I am……..

In this bulletin:

# The State Attorney criticises Zuma’s attempts to avoid paying back millions in legal fees
# Liquidations increased by 1.4-percent in February
# And golf: Rory McIlroy went on a scouting mission to the Augusta National

# Lawyers for the State Attorney say former president Jacob Zuma’s attempts to get out of paying the 28.9-million-rand he owes to the state in legal fees, are a waste of time. In 2021, the Supreme Court of Appeal found that Zuma was ineligible for taxpayer funding for his corruption trial defence costs. News24 reports that in court papers, the state argues that even if Zuma were to be acquitted, it would not alter the fact that taxpayers’ funds were improperly used to cover his private legal costs.

# Statistics South Africa says liquidations increased by 1.4-percent in February compared to the same period last year. Liquidations of close corporations increased by 4 cases, while liquidations of companies decreased by two cases during this period. The figures for the first two months of this year also show a slight 0.4-percent decrease compared to early last year. Stats SA’s Onica Mushwana says liquidations declined by 12.5-percent over the past three months:

# The GOOD Party says Johannesburg’s Economic Development Department is failing to drive economic growth effectively. During a council meeting, the party criticised the lack of a centralised database for economic indicators as it undermines decision-making. GOOD’s Matthew Cook condemned the absence of a comprehensive economic growth strategy, arguing that without proper planning, Johannesburg cannot effectively promote development or job creation:

# Canada’s prime minister, Mark Carney, has described US president Donald Trump’s imposition of import tariffs on cars as a direct attack on his country’s workers. A new import tax of 25-percent on cars and car parts coming into America will come into effect next week. Mexico is the top foreign supplier of cars to the US, followed by South Korea, Japan, Canada and Germany. Japanese prime minister, Shigeru Ishiba, says his government is considering appropriate measures in response to the new tariffs.

# Golf: Four-time major champion, Rory McIlroy, visited Augusta National in Georgia earlier this week as part of preparations for the Masters, the only major title he needs to complete a career Grand Slam. The Northern Irishman and world number one, American Scottie Scheffler, are among the favourites to win the Masters, which tees off on the 10th of April. McIlroy, who is playing at this week’s Houston Open, says his scouting trip to Augusta was to refamiliarise himself with the place:

# And the financial indicators: The dollar trades at 18-rand-22-cents and the euro at 19-rand-62-cents. One British pound costs 23-rand-53-cents and Bitcoin trades at 87-thousand-385-dollars. Gold sells at three-thousand-and-31-dollars-73-cents a fine ounce and Brent crude oil is quoted at 72-dollars-82-cents a barrel.

Stay tuned for more news………….