News 17:00

BULLETIN 6 August 5 pm

Good afternoon. I am……..

In this bulletin:

# Fikile Mbalula says South Africa will not sacrifice its sovereignty over US tariffs
# Chinese e-retailers make sales of 7.3-billion-rand in South Africa amid job loss concerns
# And cricket: Australia investigates allowing private investment in the Big Bash League

# The ANC says it will continue to defend South Africa’s transformation agenda despite increasing global pressure, including the 30-percent tariffs imposed by the US. The party maintains that transformation policies, including broad-based black economic empowerment and land reform, are essential to redressing past injustices. Briefing the media on the outcomes of the national executive committee meeting, ANC secretary-general Fikile Mbalula said the government will not trade its sovereignty for economic favours:

Meanwhile, trade union Solidarity has announced a five-point plan to deal with the impact of the American tariff. The plan includes talks with the administrations of presidents Cyril Ramaphosa and Donald Trump, support for affected workers, protection of affected industries, and efforts to rebuild SA-US trade ties. The union’s Jaco Kleynhans warns the tariff will lead to job losses and business closures, especially in the automotive and agricultural sectors.

# A report by the Localisation Support Fund shows Chinese online retailers made 7.3-billion-rand in South African sales last year. CEO Irshaad Kathrada told SABC News fast fashion giants like Shein and Temu have displaced an estimated eight-thousand local jobs, and warns this could rise to 35-thousand. He calls for urgent regulation to curb the impact of offshore retailers:

News from the Middle East:

# Twenty people have died, and dozens were injured after four trucks overturned in central Gaza. The BBC quotes the Hamas-run Civil Defence Agency as saying the trucks overturned when crowds climbed on top and caused the drivers to lose control on the rugged and dangerous roads. The agency says the vehicles were among 26 commercial trucks carrying aid into Gaza as part of Israel’s plan to allow food to enter the strip through the private sector. Israel’s military said they are looking into the reports.

# Cricket: Australia is contemplating allowing private investment in the Big Bash Leauge with the aim of making it the second best T20 league behind the Indian Premier League. But Cricket Australia’s CEO, Todd Greenberg, says it won’t go ahead if it should come at the cost of the traditional New Year’s Test in Sydney. The body commissioned an investigation to assess the league’s current model and future structure, which recommended alternative forms of investment and ownership. The 2025/26 competition runs from 14 December to 25 January.

# And the financial indicators: The dollar trades at 17-rand-78-cents and the euro at 20-rand-69-cents. One British pound costs 23-rand-70-cents and Bitcoin trades at 113-thousand-911-dollars. Gold sells at three-thousand-369-dollars-52-cents a fine ounce and Brent crude oil is quoted at 68-dollars-50-cents a barrel.

Stay tuned for more news………….