News 11:00

BULLETIN 19 June 11 am

Good morning. I am……..

In this bulletin:

# South Africa says the deals between America and Iran provide the framework for durable peace in the Middle East
# Minister Tau says the withdrawal of Tongaat Hulett’s liquidation secures the future of the sugar value chain
# And soccer: Broos warns Bafana Bafana cannot afford to underestimate South Korea

# South Africa says the memorandum of understanding signed between the US and Iran provides the framework for durable peace and regional stability in the Middle East. The 14-point document includes the reopening of the Strait of Hormuz, the US lifting sanctions on Tehran and a commitment to further talks to reach a final agreement. Department of International Relations and Cooperation spokesperson, Chrispin Phiri, says the memorandum provides an opportunity to address all outstanding areas within the framework of multilateralism:

Meanwhile, today’s planned talks between the US and Iran in Switzerland have been cancelled, with the White House citing unresolved logistics surrounding the next phase of negotiations. The two countries have committed to reaching a final deal within 60 days. US vice president JD Vance was set to lead the negotiations. Iran reportedly cancelled its own delegation’s flight, citing continued attacks by Israel on Hezbollah in Lebanon. Today’s meeting was meant to kickstart negotiations, primarily on nuclear, as outlined in the memorandum. 

# Minister of Trade, Industry and Competition, Parks Tau, says the withdrawal of the liquidation proceedings against Tongaat Hulett represents a significant milestone in securing the future of the sugar value chain. This follows an agreement between the Industrial Development Corporation and Vision Consortium, safeguarding 250-thousand jobs. Tau says the prospect of liquidation posed serious risks, not only to workers and growers, but also to suppliers, transport operators, small businesses, and the broader economy. The company was placed under business rescue following a collapse caused by financial mismanagement.

# Western Cape premier Alan Winde says they are shifting from emergency response to long-term recovery following the deadly storms that hit the province recently. The cost of the damage stands at over nine-billion-rand. Workers have reopened around 70-percent of closed roads, while Eskom has reconnected 97-percent of residents who lost power. Winde says while emergency access has largely been restored, extensive damage to road infrastructure remains a major challenge:

# Soccer: Bafana Bafana head coach Hugo Broos says they cannot underestimate South Korea in their must-win final World Cup Group A match next Thursday. Co-hosts Mexico are through to the last 32, while South Korea currently occupies second spot in the group on three points, with the Czech Republic and South Africa both on one point. Broos has highlighted South Korea’s structured play as a key challenge:

# And the financial indicators: The dollar trades at 16-rand-49-cents and the euro at 18-rand-87-cents. One British pound costs 21-rand-77-cents and Bitcoin trades at 62-thousand-843-dollars. Gold sells at four-thousand-150-dollars-91-cents a fine ounce and Brent crude oil is quoted at 79-dollars-47-cents a barrel.

Stay tuned for more news………….