News 12:00

BULLETIN 10 March 12 pm

Good afternoon. I am……..

In this bulletin:

# South Africans should brace themselves for record-breaking fuel price hikes
# More than 50 border officials are dismissed for corruption
# And rugby: A French flanker faces a disciplinary hearing after an alleged eye gouging incident during the Scotland clash

# South Africans are bracing for a financial blow as experts warn of record-breaking fuel price hikes. Projections suggest increases of up to five-rand per litre, driven by soaring global oil prices due to the Middle Eastern conflict, and a weakening rand. Stanlib Asset Management’s chief economist, Kevin Lings, says this will trigger a cost of living domino effect. He notes the magnitude of the spike is unprecedented, placing immense pressure on already strained households and threatening to derail South Africa’s fragile economic recovery.

Meanwhile, American president Donald Trump warns Iran’s attempt to disrupt oil shipments through the Strait of Hormuz will trigger a response 20-times harder than previous strikes. Iran’s Revolutionary Guards have threatened to block oil shipments through the route which carries a fifth of the world’s oil, if the US and Israeli attacks continue. Trump says in the long run, oil supplies will be dramatically more secure without Iranian ships and missiles:

# More than 50 officials working at South Africa’s ports of entry have been dismissed for corruption. Border Management Authority commissioner Michael Masiapato says they were fired for facilitating the illegal movement of people into the country. He says the dismissals form part of efforts to clamp down on corruption and strengthen border security. Masiapato says investigations are continuing into misconduct at ports of entry:

# The GOOD Party says Cape Town mayor Geordin Hill-Lewis’ promise to build a wall to contain communities living along the N2 between Khayelitsha and Langa looks likely to be an election spin. Hill-Lewis has repeatedly said building the wall will help keep residents safe. GOOD’s secretary general, Brett Herron, says the Western Cape MEC for Infrastructure, Tertuis Simmers, has denied having been engaged in such a project:

# Rugby: French flanker Oscar Jegou is facing a disciplinary hearing today after being cited for an alleged eye gouge on Scotland’s replacement hooker, Ewan Ashman, during Saturday’s Six Nations match in Edinburgh. Jegou wasn’t penalised during the match, which the Scots won 50-40 to keep their dream of the title alive. A similar incident during November’s victory over Wales saw Springbok lock Eben Etzebeth being banned for 12 weeks, and he will only return to action later this month.

# And the financial indicators: The dollar trades at 16-rand-26-cents and the euro at 18-rand-95-cents. One British pound costs 21-rand-91-cents and Bitcoin trades at 70-thousand-814-dollars. Gold sells at five-thousand-179-dollars-24-cents a fine ounce and Brent crude oil is quoted at 88-dollars-88-cents a barrel.

Stay tuned for more news………….