News 15:00

BULLETIN 10 November 3 pm

Good afternoon. I am……..

In this bulletin:

# The Tshwane strike is finally over and services have returned to normal
# Phase 1 of Eskom’s battery energy storage system projects has started 
# And Soccer: The Chiefs and the Pirates are ready for the 178th Soweto derby 

# The City of Tshwane has announced the resumption of all municipal services after a three-month-long unlawful strike. Essential functions, including waste collection and utilities, have returned to normal. Most backlogs have also been cleared. City manager Johann Mettler has expressed relief, citing the end of violence and property destruction. The city’s Selby Bokaba says ongoing discussions between Tshwane and municipal unions Imatu, and Samwu over salary disputes are progressing positively. Bokaba apologises for any inconvenience during the unprecedented strike:

Eskom has officially started operating the first of eight utility-scale battery energy storage system projects. This is part of phase one of a World Bank-funded programme, to add batteries with a combined storage capacity of 199 megawatts. The first project is on Eskom’s distribution network in Worcester in the Western Cape using batteries supplied by Hyosung, of South Korea. Eskom has also placed phase two on hold, through which it aims to introduce a further 144 megawatts of battery energy storage system across four sites,  as it needs clarification from the National Treasury.

# Real estate company, Lightstone has revealed homeowners are grappling with the impact of rising interest rates as distressed house sales soar. The number of property owners selling within two-years of purchase has surged from two-percent in May of the previous year to 3.7-percent. BusinessTech suggests buyers who capitalised on low-interest rates during Covid-19 are now facing challenges in meeting mortgage repayments as interest rates return to normal levels. The volume of residential purchases by individuals plummets by 50-percent, and the number of buyers bonding their properties drops from 60 to 40-percent.

# Soccer: The biggest rivalry in the domestic game is the Soweto derby between Kaizer Chiefs and Orlando Pirates. Tomorrow will see the 178th Soweto derby, with both Chiefs and Pirates showing mixed recent form, making the outcome of the clash unpredictable. Chiefs have secured victories in three out of their last 10 matches across all competitions. Last month the club parted ways with its seventh coach in eight years, leading to Cavin Johnson, the club’s head of academy, taking over on an interim basis. Johnson hopes for a good performance from his side:

Play Sound:ENG Cavin Johnson

# Financial indicators: The dollar trades at 18-rand-71-cents and the euro at 19-rand-99-cents. One British pound costs 22-rand-85-cents and Bitcoin trades at 37-thousand-84-dollars-4-cents. Gold sells at one-thousand-948-dollars-9-cents a fine ounce and Brent crude oil is quoted at 80-dollars-79-cents a barrel.

# And finally: President Cyril Ramaphosa has congratulated University of Pretoria professor, Dire Tladi, on his election as a judge of the International Court of Justice in The Hague by the United Nations. Tladi, endorsed as a nominee by the government, becomes the first South African to be elected to the World court. President Ramaphosa expresses gratitude to the UN for their confidence in Tladi’s capabilities. Notably, Tladi also serves as the president and executive member of the South African Branch of the International Law Association.

Stay tuned for more news………….