News 13:00

BULLETIN 20 June 1 pm

Good afternoon. I am……..

In this bulletin:

# The Eastern Cape deploys drones to search for missing flood victims
# Minister Dion George says his department is exploring international donor support for enforcement and anti-poaching
# And oil prices tumble after Trump says he’ll decide in the next two weeks about US involvement in Iran

# The Eastern Cape government has intensified the search for missing flood victims by deploying drone technology capable of scanning for human remains. Cooperative Governance and Traditional Affairs MEC Xolile Williams told Newzroom Afrika the aim is to bring closure to families still searching for loved ones. He adds some families continue to report missing relatives, and the province hopes the new system brings breakthroughs:

# Minister of Forestry, Fisheries and the Environment, Dion George, says his department is operating in a constrained fiscal environment, but they are not sitting still. They launched a departmental spending review and implemented firm cost-containment measures. George says they are exploring international donor support for enforcement and anti-poaching, developing innovative financing mechanisms for green projects, and working with Treasury on sustainable budget models:

# The South African Reserve Bank has warned that rising geopolitical tensions and global policy uncertainty pose major risks to the country’s financial sector. In its Financial Stability Review, the bank states that trade disputes and conflicts like the Israeli-Iranian crisis are driving up oil prices and investor caution. The review indicates this increases the risk of capital outflows and higher state borrowing costs. The central bank also completed its first climate risk stress test, finding major banks moderately prepared.

Meanwhile, oil prices tumbled and equity traders fought to end a volatile week on a positive note after US president Donald Trump said he would consider over the next two weeks whether to join Israel’s attacks on Iran. Speculation had been swirling that Trump would throw his lot in with Israel, but his remarks are seen as giving diplomacy a shot to end the hostilities. While tensions are sky-high amid fears of an escalation, his remarks suggest the crisis could be prevented from spiralling into all-out war.

# Motorsport: Williams’ Formula One team principal, James Vowles, has signed a new long-term contract. The 45-year-old Brit joined the team in 2023 from Mercedes, where he headed up race strategy. Vowles has overseen the team’s leap forward in competitiveness. Williams is currently fifth in the constructors’ championship with 55 points after ten races, more points than in the previous three seasons combined. Chairperson Matthew Savage says Vowles has brought experience and strategic leadership to the task of restoring the team to the top of the podium.

# And the financial indicators: The dollar trades at 18-rand-3-cents and the euro at 20-rand-78-cents. One British pound costs 24-rand-33-cents and Bitcoin trades at 105-thousand-882-dollars. Gold sells at three-thousand-354-dollars-47-cents a fine ounce and Brent crude oil is quoted at 75-dollars-77-cents a barrel.

Stay tuned for more news………….