News 13:00

BULLETIN 11 March 1 pm

Good afternoon. I am……..

In this bulletin:

# Government says the fast de-escalation of tensions in the Middle East will bring stability to oil markets
# Markus Jooste’s mansion in Hermanus sells for 105-million-rand
# And rugby: Pundits delete a podcast in which they predicted a Six Nations Grand Slam for England

# The Department of Mineral and Petroleum Resources remains optimistic the tensions in the Middle East will de-escalate soon, which would help stabilise global oil markets. The tensions are affecting shipping through the Strait of Hormuz, which carries a fifth of global oil exports. Higher petrol and diesel prices are expected in April. Spokesperson Lerato Ntsoko says the Astron Energy refinery is currently undergoing planned maintenance, but has secured sufficient fuel imports:

# Former Zimbabwean president Robert Mugabe’s son, Bellarmine, and his co-accused, Tobias Matondze, abandoned their bail applicatons in the Alexandra Magistrate’s Court in Gauteng. Their legal team indicated plans to proceed with a plea agreement. The duo face seven charges, including attempted murder, possession of a firearm and ammunition, theft, and defeating the ends of justice. This involves the shooting of an employee at their Hyde Park home in Johannesburg last month. The case was postponed to Tuesday.

# Murder-accused Tiffany Meek’s legal team is planning to submit a plea proposal to the Palm Ridge Magistrate’s Court in Gauteng. She is accused of killing her 11-year-old son, Jayden-Lee, last year. He was found on the staircase of the complex where his family lives in Fleurhof. Meek, who has been in custody since July, is facing charges of murder and defeating the ends of justice. Her legal representative, Lyle Wyngaard, says they want to bring this case to finality. Meek will be back in court on March 25.

# Late former Steinhoff CEO Markus Jooste’s mansion in Hermanus in the Western Cape has been sold for 105-million-rand. The property in the prestigious Voëlklip area, comprising a main house with multiple additional residences, seven bedrooms and ten garages, sold within six months of listing. The South African Reserve Bank is expected to be the main beneficiary after obtaining a High Court order in 2022 to attach Jooste’s assets over alleged exchange control regulation breaches. Authorities say the Financial Sector Conduct Authority may also seek part of the proceeds.

# Rugby: Several experts are now very quiet after predicting a totally different outcome for England in this year’s Six Nations. The team entered the competition on an 11-match winning streak and beat Wales in the first round, but then suffered consecutive losses to Scotland and Wales, as well as their first-ever to Italy. Pundits such as former English players Mike Tindall and James Haskell even predicted a first Grand Slam in ten years for England during a podcast, which had since been deleted.

# And the financial indicators: The dollar trades at 16-rand-36-cents and the euro at 18-rand-97-cents. One British pound costs 21-rand-96-cents and Bitcoin trades at 69-thousand-606-dollars. Gold sells at five-thousand-187-dollars-9-cents a fine ounce and Brent crude oil is quoted at 89-dollars-54-cents a barrel.

Stay tuned for more news………….