News 12:00

BULLETIN 12 March 12 pm

Good afternoon. I am……..

In this bulletin:

# Absa’s interim CEO warns South Africa to ease tensions with the US
# German companies are optimistic to see revenue growth in South Africa
# And world leaders welcome Ukraine’s acceptance of a US-proposed ceasefire with Russia

# Absa interim CEO, Charles Russon, says government must do everything possible to de-escalate tensions with the US. President Donald Trump has signed an executive order cutting aid to South Africa over the country’s expropriation policies and the treatment of Afrikaners. Recently, US banking giant JP Morgan downgraded the country’s equities, citing uncertainty over diplomatic ties and economic reforms. Russon says the markets and the investment community don’t like uncertainty. He adds that mending relations with the US at present won’t be easy.

# German companies are optimistic about revenue growth in South Africa this year. Sixty-four-percent of the companies surveyed in South Africa by KPMG Germany and Southern African-German Chamber of Commerce and Industry expect sales to increase this year. In the Southern Africa region, the figure is 58-percent. KPMG’s Benedikt Herles told the SABC South Africa has some industries with high growth potential:

# The South African Weather Service has issued a Yellow Level 4 warning for damaging winds over much of the Western Cape from this evening until Friday. Strong south-easterly winds are expected between Saldanha Bay and Plettenberg Bay. Cape Town Disaster Risk Management’s spokesperson, Sonica Lategan, says potential impacts could include uprooted trees, damage to roofs and an increased risk of runaway fires:

# World leaders have welcomed Ukraine’s acceptance of a proposal by the US for an immediate 30-day ceasefire with Russia. French president Emmanuel Macron has hailed the progress made, but insists that Kyiv needs robust security guarantees in any ceasefire. UK prime minister Keir Starmer says this is an important moment for peace in Ukraine. European Union foreign policy chief, Kaja Kallas, says it is now up to Russia to show its willingness to achieve peace:

# Tennis: Defending champion Iga Swiatek of Poland is through to the quarterfinals of the Indian Wells Masters in the US. The world number two, who is bidding to become the first woman to win the tournament three times, thrashed Czech Karolina Muchova, 6-1, 6-1. Ukraine’s Elina Svitolina battled past American Jessica Pegula. In the men’s draw, Denmark’s Holger Rune defeated Stefanos Tsitsipas to end the Greek’s seven-match winning streak.

# And the financial indicators: The dollar trades at 18-rand-33-cents and the euro at 20-rand-1-cent. One British pound costs 23-rand-71-cents and Bitcoin trades at 82-thousand-356-dollars. Gold sells at two-thousand-917-dollars-16-cents a fine ounce and Brent crude oil is quoted at 69-dollars-65-cents a barrel.

Stay tuned for more news………….