News 14:00

BULLETIN 11 June 2 pm

Good afternoon. I am……..

In this bulletin:

# Business confidence recovers slightly in May
# The Eastern Cape premier says March and March’s memorandum will be considered
# And athletics: An American teenager stuns an Olympic champion in Oslo

# The South African Chamber of Commerce and Industry says its Business Confidence Index recovered marginally last month, rising by 0.5 index points to 124.1 after a sharp decline in April. Business confidence remains significantly higher than a year ago, despite recent volatility. SACCI says improved vehicle sales and export volumes boosted sentiment, while declining tourist numbers and higher inflation weighed on confidence. The chamber says rising oil prices and regional conflict continue to pose risks, although a stable rand has helped ease inflationary pressures.

# Eastern Cape premier Oscar Mabuyane says the memorandum of demands he has received from anti-immigration civic group March and March Movement, will be processed through the appropriate channels. The group staged a protest in KuGompo City as part of its national campaign on immigration-related matters. Mabuyane has reaffirmed their commitment to listening to citizens’ concerns while upholding the Constitution, the rule of law and the rights of all people in South Africa:

# Union federation SAFTU is concerned over revelations that the Public Investment Corporation’s Isibaya Fund invested approximately 4.45-billion-rand in 15 companies and projects which lost all of their money. They have now recorded an internal rate of return of minus 100-percent, meaning every cent has effectively been lost. SAFTU’s Asive Dyani says the central issue is accountability, as workers have the right to know how their money is invested:

Moving abroad:

# Europe’s Future Combat Air System fighter jet programme has broken down and was offically cancelled. German chancellor Friedrich Merz and French president Emmanuel Macron agreed to scrap the multi-billion-euro project after manufacturers failed to resolve a long-running industrial and strategic deadlock. The breakdown is the result of irreconcilable differences across multiple fronts, including the size and purpose of the jet fighter and infighting between France’s Dassault and Germany’s Airbus Defence and Space companies.

# Athletics: American teenager Cooper Lutkenhaus is seen as a future star after beating Olympic champions Emmanuel Wanyonyi in the 800-meter at the Diamond League meeting in Oslo, Norway. The 17-year-old won in a personal best time of one-minute-42.08-seconds despite the Kenyan recording his own best time of the season. Lutkenhaus also won gold in the item at the World Indoor Championships, the Diamond League event in Stockholm, Sweden, and three other events.

# And the financial indicators: The dollar trades at 16-rand-50-cents and the euro at 19-rand-3-cents. One British pound costs 22-rand-5-cents and Bitcoin trades at 62-thousand-767-dollars. Gold sells at four-thousand-and-87-dollars-62-cents a fine ounce and Brent crude oil is quoted at 91-dollars-37-cents a barrel.

Stay tuned for more news………….