News 17:00
BULLETIN 30 May 5 pm
Good afternoon. I am……..
In this bulletin:
# Interest rates remain unchanged
# CSIR projections on the elections lead to a weak rand and bond yields rising
# And rugby: The Melbourne Rebels exits the Super Rugby Pacific after 14 seasons
# The Reserve Bank’s Monetary Policy Committee has decided to keep the repo rate unchanged at 8.25-percent. More in our next bulletin.
# The Council for Scientific and Industrial Research’s projections on the elections have led to a weaker rand and a rise in bond yields. This comes after the CSIR projected the ANC winning 42-percent of votes. The CSIR says this projections could unsettle markets and deter investment.
The Electoral Commission has reported an unprecedented number of incidents in the Eastern Cape during the election. Many voting stations faced long delays, and over 30 opened late due to service delivery protests. Despite these challenges, the IEC confirms that results capturing is proceeding smoothly. Chief electoral official Sy Mamabolo says the delays will not affect counting:
Preliminary results from the Electoral Commission a short while ago showed the ANC was leading with 43.47-percent. The DA followed with 24.68-percent while the EFF was on 8.88-percent. The MK Party and the Patriotic Alliance are among the top five nationally, with 8.1- and 4.05-percent respectively.
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# The US has opposed a United Nations Security Council resolution calling for an immediate cease-fire in Gaza and an end to Israeli military actions in Rafah, deeming it unhelpful. Algeria, representing Arab countries, drafted the resolution following emergency talks on the Israeli operation. The draft demands the opening of all border crossings and humanitarian access to Gaza. US deputy ambassador, Robert Wood, emphasised a pause in the fighting must first be secured:
# Rugby: The Melbourne Rebels had been kicked out of the Super Rugby Pacific competition when Rugby Australia rejected a rescue deal for the beleaguered team. This means the team’s participation in the competition will end after 14 seasons. The Rebels was founded in 2011 when the competition was expanded to 15 teams, but were placed un administration in January this year because of debt of 283-million-rand. The national governing body financed the team for this year, when they reached the play-offs for the very first time.
# And the financial indicators: The dollar trades at 18-rand-61-cents and the euro at 20-rand-15-cents. One British pound costs 23-rand-68-cents and Bitcoin trades at 67-thousand-253-dollars-48-cents. Gold sells at two-thousand-341-dollars-86-cents a fine ounce and Brent crude oil is quoted at 82-dollars-41-cents a barrel.
Stay tuned for more news………….