News 15:00

BULLETIN 4 November 3 pm

Good afternoon. I am……..

In this bulletin:

# The rand strengthens as the dollar weakens amid the US election
# Fuel prices will rise on Wednesday due to crude oil and international costs
# And cricket: Australia will face Sri Lanka in a Test series in January

# The rand strengthened against the dollar today, spiking to 17-rand-50-cents to the dollar, as the dollar weakened. US Treasury yields dropped five basis points. Investors are bracing for the US election and a likely Federal Reserve rate cut, both of which could impact global markets. Polls show tight competition between Democratic candidate Kamala Harris and Republican Donald Trump, with the outcome set to influence future dollar and bond yield trends.

# The Department of Mineral and Petroleum Resources has announced fuel price increases from Wednesday. The price of 95- and 93-octane petrol will rise by 25-cents per litre, while the price of standard diesel will increase by 21-cents and low-sulphur diesel by 20-cents a litre. Illuminating paraffin will also see a rise of 21-cents per litre, and the maximum retail price of LP gas will increase by 36-cents per kilogram. The department says these adjustments reflect ongoing global tensions and rising international Brent crude oil prices.  

# Labour lawyer Michael Bagraim is urging government not to overregulate the informal business sector, following the increasing number of food poisoning cases caused by food from spaza shops. He says overregulation will certainly destroy the ability of the informal sector to become part of the formal sector. He says the country has about two-thousand inspectors and thousands of small businesses:

# Human Settlements minister Mmamoloko Kubayi is leading a government delegation to the 12th World Urban Forum Summit taking place in Egypt, Cairo, this week. The summit is being held under the theme, It All Starts at Home. Local Actions for Sustainable Cities and Communities. The ministry’s spokesperson, Terrence Manase, says the summit brings together delegates from across the globe, to explore how the different spheres of government can work better together to achieve vision 2030 Agenda for Sustainable Development Goals:

# Cricket: Australia will play two Test matches in Sri Lanka early next year as part of the ICC World Test Championships. The series could be vital in deciding who reaches the final. The first Test will begin on 29 January, while the second is scheduled to start on 6 February. Both matches will be played at the Galle International Cricket Stadium.

# And the financial indicators: The dollar trades at 17-rand-53-cents and the euro at 19-rand-12-cents. One British pound costs 22-rand-73-cents and Bitcoin trades at 68-thousand-807-dollars-1-cent. Gold sells at two-thousand-736-dollars-68-cents a fine ounce and Brent crude oil is quoted at 74-dollars-91-cents a barrel.

Stay tuned for more news………….