News 12:00

BULLETIN 12 December 12 pm

Good afternoon. I am……..

In this bulletin:

# FNB expects inflation to stay close to three-percent in December, driven by rising fuel prices
# A Western Cape mayor is questioned following the discovery of drugs and ammunition at his home
# And cricket: No agreement has been reached on the format of next year’s Champions Trophy

# FNB predicts inflation will remain close to three-percent in December, primarily due to increasing fuel prices. While food inflation is expected to stay subdued, higher housing costs and other core inflation components could add some pressure. Despite this, headline inflation is not anticipated to surpass four-percent until late next year. FNB economist Koketso Mano says global risks and a weaker rand may affect inflation, but gradual interest rate cuts are still expected:

# Western Cape police are investigating the discovery of drugs and ammunition at the home of Bergrivier Municipality’s DA mayor, Ray van Rooy. He was taken in for questioning after the discovery at his residence in Piketberg, but has not been charged yet. The municipality says it is awaiting further actions by police. The DA’s Matthew Sims says while Van Rooy vehemently denies allegations of any wrongdoing, he pledges his full cooperation with the legal process that will follow.

# The dynamics of South Africa’s race, class, gender and cultural identity issues all intersect when a person sits down at a Spur family restaurant, according to a new study by University of the Western Cape researcher Thembelihle Bongwana. She says she examined how Spur, as a hallmark of the fast food and restaurant industry in South Africa, should revisit its branding and marketing strategies to move beyond superficial rainbow-nation narratives:

# Cricket: No agreement had yet been reached over the format of next year’s Champions Cup tournament after India refused to play in host country Pakistan, citing security fears and political tensions. While Pakistan seemingly agreed to a hybrid tournament that would see it playing India in Dubai, India objects to the condition that it must then agree to a similar format in every international tournament it hosts until 2027. The tournament will be contested by the top eight ranked men’s teams from last year’s one-day World Cup.

# The financial indicators: The dollar trades at 17-rand-67-cents and the euro at 18-rand-58-cents. One British pound costs 22-rand-55-cents and Bitcoin trades at 100-thousand-653-dollars. Gold sells at two-thousand-716-dollars-4-cents a fine ounce and Brent crude oil is quoted at 73-dollars-57-cents a barrel.

# And finally: Music legend Elton John has been named Time magazine’s 2024 Icon of the Year. The magazine noted the 77-year-old’s multi-decade influence, citing his 57 US top 40 hits, and his evolution from a flamboyant performer to a Broadway composer, Disney songwriter, and collaborator. Having performed over four-thousand-500 concerts over half a century, he retired from touring at the end of 2023. John says he feels he was somehow chosen to be as famous as he is because he can withstand the burdens it brings.

Stay tuned for more news………….