News 15:00

BULLETIN 8 May 3 pm

Good afternoon. I am……..

In this bulletin:

# South Africa faces a looming natural gas shortage despite offshore discoveries
# Former chief justice Raymond Zondo questions Parliament’s anti-corruption efforts
# And motorsport: Oscar Piastri sympathises with compatriot Jack Doohan after his demotion by Alpine

# South Africa is bracing for a natural gas shortage starting next year, despite offshore discoveries between 2019 and ’20. The Petroleum Agency’s acting CEO, Bongani Sayidini, reports that the Brulpadda and the Luiperd fields off the Southern Cape coast have not yielded commercially viable quantities. Meanwhile, Wits Business School Advisory Board chairperson Priscillah Mabelane says Mozambique’s gas supply, currently vital to South Africa, is nearing depletion, with imports expected to halt by next year:

# Former chief justice Raymond Zondo has expressed doubt over Parliament’s implementation of anti-corruption measures following the state capture commission’s recommendations. Speaking at the 15th Commonwealth Regional Conference for Heads of Anti-Corruption Agencies in Africa, Zondo questioned whether Parliament has enacted reforms to prevent future corruption. He emphasised the need for stronger oversight and accountability mechanisms to address systemic corruption and restore public trust in governance:

# Iran’s Foreign minister, Abbas Araghchi, has rejected allegations his government was involved in a plot to target the Israeli embassy in London. The follows the arrest of seven Iranian nationals. British police say they were apprehended on suspicion of terrorism offences in separate operations. Britain’s Interior minister, Yvette Cooper, says the arrests came amid heightened concerns about Iranian activities.

# Motorsport: The leader in the Formula One drivers’ championship, Oscar Piastri, has expressed sympathy with his Australian compatriot Jack Doohan after he was fired as Alpine’s driver. The rookie was replaced with Argentinian reserve driver Franco Colapinto for at least the next five races, starting with Imola next weekend. Piastri says it’s hard to reach F1 and Doohan could be proud of himself for coming this far. Doohan’s demotion follows that of New Zealander Liam Lawson from Red Bull after a similar unimpressive start to the season.  

# The financial indicators: The dollar trades at 18-rand-14-cents and the euro at 20-rand-51-cents. One British pound costs 24-rand-17-cents and Bitcoin trades at 99-thousand-580-dollars. Gold sells at three-thousand-343-dollars-34-cents a fine ounce and Brent crude oil is quoted at 61-dollars-89-cents a barrel.

# And finally: The Cableway Charity Challenge in Cape Town has been postponed to Sunday due to bad weather expected. Originally set for Saturday, the event sees participants climbing Platteklip Gorge on Table Mountain to raise funds for charities supporting vulnerable women and children. Despite the delay, organisers encourage hikers, runners, and supporters to unite for this powerful cause. The event aims to raise one-million-rand, with all proceeds benefiting local non-profits.

Stay tuned for more news………….