News 16:00

BULLETIN 1 July 4 pm

Good afternoon. I am……..

In this bulletin:

# Motorists face major fuel price increases from tomorrow
# A shortage of spare parts drives up write-offs in South African motor claims
# And soccer: Barcelona will honour Lionel Messi with a tribute match at the completed Camp Nou

# Motorists will feel more pain at the pumps from midnight, as the price of 93-octane petrol will go up by 55-cents a litre, and 95-octane by 52-cents. Diesel prices will rise by up to 84-cents, while illuminating paraffin increases by 89-cents a litre. Robert Maake of the Department of Mineral and Petroleum Resources blames the increases on rising global oil prices due to Middle East tensions:

# South Africa is seeing a rise in vehicles being written off for minor damage due to high repair costs driven by spare parts shortages. Santam’s Thabo Twalo told Daily Investor the trend is fueled by global trade tensions, including US tariffs under president Donald Trump. Parts delays and price hikes, particularly from China and the European Union, have pushed insurers to classify repairable vehicles as total losses. He says this has increased pressure on commercial claims and the local insurance sector.

# The Organisation Undoing Tax Abuse says the recent arrests of former Transnet executives, incluing Brian Molefe and Siyabonga Gama, signal real progress in holding those involved in state capture accountable. Yesterday, the Palm Ridge Specialised Commercial Crimes Court in Gauteng granted Molefe, Gama, Anoj Singh, and Thamsanqa Jiyane 50-thousand-rand bail each over corruption allegations linked to Transnet’s 93-million-rand locomotive contracts. OUTA’s Rudie Heyneke says the arrests were long overdue:

# More than 130 charities and other non-governmental organisations are calling for the controversial Israeli and US-backed Gaza Humanitarian Foundation to be shut down. The organisations, including Oxfam, Save the Children and Amnesty International, say more than 500 Palestinians have been killed while seeking aid since the foundation started operating in late May. Almost four-thousand have been injured. The organisations allege Israeli forces and armed groups routinely open fire on Palestinians seeking aid. Israel denies this, saying it provides direct assistance to people who need it, bypassing Hamas interference.

# Soccer: Argentinian legend Lionel Messi will be honoured with a tribute match at Spanish giants Barcelona’s Camp Nou as soon as the revamp of the iconic stadium had been completed. Messi played for the team for almost 20 years before leaving for Paris Saint-Germain in 2021. During that time, he scored 520 goals and won 34 major titles, including ten in La Liga and four in the UEFA Champions League. Vice-president Elena Fort says the tribute should take place when Camp Nou is 100-percent finished, describing Messi as the best player in Barca’s history.

# And the financial indicators: The dollar trades at 17-rand-59-cents and the euro at 20-rand-77-cents. One British pound costs 24-rand-18-cents and Bitcoin trades at 106-thousand-543-dollars. Gold sells at three-thousand-353-dollars-50-cents a fine ounce and Brent crude oil is quoted at 67-dollars-5-cents a barrel.

Stay tuned for more news………….