News 13:00

BULLETIN 15 October 12 pm

Good afternoon. I am……..

In this bulletin:

# COPE says the government of national unity has failed South Africans
# The DA in Gauteng is concerned by the Health Department’s sudden recruitment freeze
# And SA Rugby’s proposed equity deal with Ackerley Sports Group faces opposition

# COPE says the government of national unity has failed to address the concerns of the majority, sustaining a legacy of inequality, exclusion and hardship for the poor, unemployed and vulnerable. Last week marked the coalition government’s 100 days in office. COPE says the government has shown no commitment to transforming the structural economy dominated by monopolies. Acting national chairperson Pake Dikgetsi demands urgent policy reform for inclusive economic transformation, strong support for small businesses, reindustrialisation and enhanced social security:

# The DA in Gauteng says patients in public hospitals face a disaster as all posts have been frozen due to severe budget cuts. Hospital CEOs were told last week that no new staff can be hired, and overtime has also been slashed. The DA’s Jack Bloom says this staffing crisis could have been averted with proper planning, but reckless spending and poor governance have left hospitals in a precarious state:

# Saudi Arabia’s Export-Import Bank has signed a 440-million-rand credit agreement with Standard Bank to enhance trade between the oil-rich kingdom and South Africa. This deal aims to facilitate Saudi exports to Africa and support investments in the country. South Africa’s exports to Saudi rose from 6.6-billion-rand in 2022 to 8.1-billion-rand last year. Saudi Arabia was South Africa’s 14th-biggest trading partner last year. Minister of Trade, Industry and Competition, Parks Tau, says they are looking to develop a two-year action plan to strengthen economic ties between the two countries.

# Rugby: SA Rugby’s proposed 1.3-billion-rand private equity deal with US-based Ackerley Sports Group is reportedly facing strong opposition. The deal involves Saru selling a 20-percent stake in its commercial arm to ASG. According to News24, seven out of Saru’s 14 member unions have signed a letter opposing the deal and are pushing for a postponement of Thursday’s vote. They are also calling for an alternative proposal to be presented in three months. For the ASG deal to go through, 75-percent of the unions would need to back the plan.

# The financial indicators: The dollar trades at 17-rand-62-cents and the euro at 19-rand-23-cents. One British pound costs 23-rand-5-cents and Bitcoin trades at 65-thousand-639-dollars-17-cents. Gold sells at two-thousand-652-dollars-61-cents a fine ounce and Brent crude oil is quoted at 74-dollars-16-cents a barrel.

# And finally: The one senior Australian politician after the other are opting out of meeting King Charles and Queen Camilla during their state visit starting on Friday. The latest to turn down an invitation to a reception in Canberra on Monday are Victoria state premier Jacinta Allan, Queensland premier Steven Miles and South Australian premier Peter Malinauskas. Sky News reports others blamed their workload for preventing them to attend. The trip Down Under will be Charles and Camilla’s first since he became king in 2022.

Stay tuned for more news………….