News 11:00

BULLETIN 14 May 11 am

Good morning. I am……..

In this bulletin:

# Fikile Mbalula says nobody will remove Ramaphosa without the ANC’s vote
#  The presidents of America and China express optimism about strengthening the relationship between the two countries 
# And rugby: Minister McKenzie wants South Africa to host the World Cup again

# ANC secretary general Fikile Mbalula says the party will not be persuaded or bullied into removing president Cyril Ramaphosa. National Assembly speaker, Thoko Didiza, has established a 31-member impeachment committee following the Constitutional Court’s judgment on the Phala Phala matter. The ANC’s national executive committee met in Cape Town yesterday to discuss the judgment. Mbalula says there are no daggers out for Ramaphosa to resign, just opportunistic elements:

The African Transformation Movement has welcomed the establishment of the committee, but warns this must not be another carefully choreographed parliamentary performance. The apex court ruled Parliament’s failure to adopt the Section 89 panel’s finding that Ramaphosa could have violated his oath of office, was unconstitutional. ATM leader Vuyo Zungula says the impeachment process must be grounded in constitutional principles and factual accountability:

# The Competition Commission says South Africa’s economy remains highly concentrated despite signs of improvement in several sectors. Presenting the latest Economy Concentration Tracker report, acting deputy commissioner James Hodge warned small businesses still struggle to grow and participate meaningfully in the economy. The report shows manufacturing, mining, energy and transport remain the most concentrated sectors. It also revealed small and medium enterprises make up most registered firms, but account for only 22-percent of total turnover.

Moving abroad:

# President Xi Jinping says China and the US should be partners rather than opponents. He held bilateral talks with his US counterpart, Donald Trump, in Beijing, which aimed to secure economic wins, maintain a fragile trade truce and navigate issues including the Iranian war and arms sales to Taiwan. Trump vowed that the relationship between the countries is going to be better than ever before. He also praised his relationship with Xi:

# Rugby: Minister of Sports, Arts and Culture, Gayton McKenzie, says he will not rest until South Africa hosts the World Cup again. The country last hosted the tournament in 1995, when the Springboks famously lifted the trophy at their first attempt. SA Rugby has launched several unsuccessful bids since. Australia will host the 2027 World Cup, with the USA staging the 2031 edition. McKenzie says he is seeking sponsorship and government support for a possible bid for 2035.

# And the financial indicators: The dollar trades at 16-rand-38-cents and the euro at 19-rand-20-cents. One British pound costs 22-rand-15-cents and Bitcoin trades at 79-thousand-706-dollars. Gold sells at four-thousand-697-dollars-65-cents a fine ounce and Brent crude oil is quoted at 103-dollars-12-cents a barrel.

Stay tuned for more news………….