News 15:00

BULLETIN 10 December 3 pm

Good afternoon. I am……..

In this bulletin:

# Cabinet affirms South Africa’s commitment to G20 principles despite America’s rejection
# Sakeliga and NEASA expose the unlawful order to use a repealed racial classification law
# And tennis: 17-million-rand in prize money is up for grabs in a Vegas exhibition tournament

# Cabinet has emphasised South Africa remains committed to G20 principles and multilateral cooperation, despite the US’ position seeking to exclude the country from next year’s G20 meetings. Minister in the Presidency Khumbudzo Ntshavheni says despite the regrettable development, South Africa emphasises the importance of collaboration and multilateralism as a founding member of the G20:

# The National Employers’ Association of South Africa and Sakeliga say the Department of Employment and Labour has instructed employers to use the repealed 1950 Population Registration Act to classify workers by race. They argue the instruction shifts the legal risk of racial classification from government onto businesses. Sakeliga CEO Piet le Roux says the requirements are unconstitutional and unworkable, warning that employers face heavy fines for non-compliance.

# Cooperative Governance and Traditional Affairs minister Velenkosini Hlabisa says South Africa has reached a milestone in preparing for upcoming local government elections. This follows the official handover of ward delimitation to the Electoral Commission in Pretoria. Hlabisa says the IEC can now begin voter registration and education. He says this will prepare municipalities for reforms aimed at improving service delivery:

# MultiChoice is officially delisting from the Johannesburg Stock Exchange and A2X today. The move follows a compulsory acquisition by French media giant Canal-plus, which has secured all remaining shares after a two-year takeover bid. Canal-plus completed payment for all shares on Friday last week, in line with the Companies Act. Regulatory approvals have been granted by the JSE, A2X and the Reserve Bank. Despite the delisting, Canal-plus plans a secondary inward JSE listing within nine months.

# Tennis: Prize money of 17-million-rand will be on offer in next year’s MGM Slam in Las Vegas in the US. The tournament in March will feature eight of the world’s elite men’s players. The participation of locals Taylor Fritz and Tommy Paul, Norwegian Casper Ruud, young Brazilian Joao Fonseca, French veteran Gael Monfils, Italian Lorenzo Musetti, Alexander Bublik of Kazakhstan, and Australian Nick Kyrgios have already been confirmed. The tournament goes ahead despite the game facing criticism over its relentless schedule.

# And the financial indicators: The dollar trades at 16-rand-98-cents and the euro at 19-rand-76-cents. One British pound costs 22-rand-61-cents and Bitcoin trades at 92-thousand-347-dollars. Gold sells at four-thousand-194-dollars-83-cents a fine ounce and Brent crude oil is quoted at 62-dollars-2-cents a barrel.

Stay tuned for more news………….