News 13:00

BULLETIN 26 May 1 pm

Good afternoon. I am……..

In this bulletin:

# Economists see a possible ratings upgrade for South Africa
# Australia’s spy agency says the terror threat level is on a concerning trajectory
# And tennis: Sinner starts his quest for an elusive French Open crown today

# Economists say South Africa could receive a credit ratings upgrade from major global agencies within the next year, following Moody’s improving the country’s outlook to positive. Analysts say upgrades could come after the medium-term budget in October, the local government elections in November, or next year’s national budget. Economists from Old Mutual Wealth and Citigroup say continued fiscal discipline, lower inflation and ongoing structural reforms will be crucial for South Africa to regain stronger investment confidence.

# The DA wants an urgent hearing before Parliament’s portfolio committee on Transport following growing concerns over aviation safety failures. South African Airways allegedly took eight days to report Cape Town International’s fuel emergencies to the South African Civil Aviation Authority. The DA’s Chris Hunsinger says this is well beyond the mandatory 72-hour reporting requirement. He says this reinforces a broader pattern of weak oversight and regulatory failure within the aviation sector:

# The minister of Communications and Digital Technologies, Solly Malatsi, says his department plans to engage Groupe Cana-Ploes over the closure of streaming platform Showmax. The shutdown has raised concerns in Parliament about possible job losses and the impact on South Africa’s film and television industry. Malatsi says regulatory bodies, including the Competition Commission and the Independent Communications Authority, are investigating whether Canal-Ploes complied with merger conditions linked to local jobs and content production following its acquisition of MultiChoice.

Moving abroad:

# Australia’s main spy agency has warned the country’s terror threat level is on a concerning trajectory. This follows the Bondi Beach attack that killed 15 people attending a Jewish Hanukkah celebration in December last year. The Australian Security Intelligence Organisation’s director-general, Mike Burgess, says the spike in anti-Semitic incidents ‌over the years has contributed to their decision to raise the national terrorism threat ⁠level to probable in August 2024:

# Tennis: World number one Jannik Sinner starts his quest for a career Grand Slam in Paris today. The French Open crown is the only Grand Slam title missing from the Italian’s trophy cabinet, and he has a very good chance to rectify that in the absence of his great rival, Spaniard Carlos Alcaraz. The defending champion suffers from a long-term wrist injury that will also keep him out of Wimbledon. Sinner plays Frenchman Clement Tabur, 165th in the world ranking, in the first round at Roland Garros.

# And the financial indicators: The dollar trades at 16-rand-36-cents and the euro at 19-rand-3-cents. One British pound costs 22-rand-4-cents and Bitcoin trades at 76-thousand-708-dollars. Gold sells at four-thousand-523-dollars-93-cents a fine ounce and Brent crude oil is quoted at 96-dollars-40-cents a barrel.

Stay tuned for more news………….