News 13:00

BULLETIN 20 May 1 pm

Good afternoon. I am……..

In this bulletin:

# South Africa raises steel import tariffs
# 36.4-billion-rand is allocated for the continuation of the Social Relief of Distress grant
# And soccer: The DRC’s team will be exempt from the US’ Ebola-related entry ban

# South Africa has increased import tariffs on a wide range of steel products by between ten- and 30-percent to protect the local industry. The new measures, published in the Government Gazette, apply to countries without trade agreements with South Africa. The International Trade Administration Commission says the move aims to support local manufacturing and industrial growth, although authorities acknowledge it could raise prices. Rebates will be available for products not produced locally, while government continues reviewing the effectiveness of the protection measures over the next three years.

# PUTCO will implement an average ten-percent fuel-related fare increase from 1 June, citing steep diesel price hikes that have reached about 32-rand-per litre. The bus operator’s Lindokuhle Xulu says rising geopolitical tensions have driven global fuel costs, placing pressure on operations. Although internal estimates suggested a 35-percent increase was needed, PUTCO opted for a lower adjustment to protect commuters. Xulu says the company continues to engage government on long-term fuel relief:

# Acting Social Development minister, Sindisiwe Chikunga, says 293-billion-rand has been allocated for monthly direct transfers to children, older persons and persons with disabilities, as part of the social assistance programme. She tabled the department’s 302-billion-rand budget for the 2026/27 financial year in Parliament. Chikunga adds that 36.4-billion-rand has been allocated for the continuation of the Social Relief of Distress grant, extended until March next year:

Moving abroad:

# Russian president Vladimir Putin says relations between Moscow and Beijing have reached an unprecedentedly high level, with trade turnover increasing more than 30 times over the past 25-years. He met with his Chinese counterpart, Xi Jinping, in Beijing today, where they signed over 20 agreements on trade and technology, as well as a declaration on a multi-polar world order. China is the biggest buyer of Russian oil. Xi has affirmed Beijing’s commitment to unswervingly promote the long-term, healthy and stable development of ties with Moscow.

# Soccer: The US and FIFA are working to ensure the Democratic Republic of Congo’s team can enter America for the World Cup. The country has banned non-Americans who have visited the DRC, Uganda or South Sudan in the last 21 days from entry due to the Ebola outbreak. The DRC has already scrapped a planned training camp in the capital of Kinshasa. US officials say the team will train in Europe ahead of the tournament, which means they will be exempt from the Ebola-related entry ban.

# And the financial indicators: The dollar trades at 16-rand-65-cents and the euro at 19-rand-30-cents. One British pound costs 22-rand-28-cents and Bitcoin trades at 77-thousand-458-dollars. Gold sells at four-thousand-477-dollars-76-cents a fine ounce and Brent crude oil is quoted at 105-dollars-56-cents a barrel.

Stay tuned for more news………….