News 17:00

BULLETIN 23 October 5 pm

Good afternoon. I am……..

In this bulletin:

# President Cyril Ramaphosa urges BRICS to strengthen the UN Security Council reform and push for global peace
# Cricket: Bangladesh has an 81-run lead after day three of the Test against the Proteas
# And Gauteng households owe nearly 100-billion-rand to municipalities

# President Cyril Ramaphosa has called for stronger global cooperation and reform of the United Nations Security Council at the 16th BRICS summit in Kazan, Russia. During his address, he urged BRICS nations to promote peace and development, while expressing support for Palestinian rights. He stated that the current structure fails to represent the global community’s interests and has been ineffective in maintaining international peace and security: 

# Union federation Cosatu has welcomed the drop in consumer inflation from 4.4- to 3.8-percent, saying it offers relief to struggling workers. Spokesperson Matthew Parks is urging the South African Reserve Bank to reduce the repo rate by at least 50 basis points to ease debt burdens. He also calls for government intervention to stabilise Eskom and reduce fuel prices:

# Two people have died after a migrant boat sank in the English Channel. According to French maritime authorities, the incident happened this morning off the coast of Sangatte, close to Calais. Around 50 migrants are understood to have fallen into the water around two-kilometres from the shoreline near Calais. At least 46 people were rescued with authorities searching for others. This year has been the deadliest ever for Channel crossings, with more than 50 people known to have been killed so far.

# Cricket: Bangladesh has an 81-run lead after the third day’s play of the first Test against South Africa in Mirpur. The hosts had a first-innings deficit of 202 runs, but Mehidy Hasan Miraz defied the visitors with an undefeated 87, while Jaker Ali contributed 58 and Mahmudal Hasan Joy 40. Bangladesh will resume their second innings on 283 for seven tomorrow after Kagiso Rabada claimed four scalps and Keshav Maharaj three.

# The financial indicators: The dollar trades at 17-rand-73-cents and the euro at 19-rand-10-cents. One British pound costs 22-rand-97-cents and Bitcoin trades at 66-thousand-418-dollars-65-cents. Gold sells at two-thousand-738-dollars-82-cents a fine ounce and Brent crude oil is quoted at 75-dollars-3-cents a barrel.

# And finally: Gauteng households owe nearly 100-billion-rand to municipalities. According to Finance MEC Lebogang Maile, as of July, municipalities faced over 132-billion-rand in outstanding debts from households, government entities, and businesses. He says households account for 99-billion-rand, while private companies owe 27-billion-rand and state institutions just over three-billion-rand. Speaking at a local government summit in Muldersdrift, Maile highlighted that municipalities also owe 27-billion-rand to Eskom and Rand Water. He stresses the urgent need for financial reform to support community development.

Stay tuned for more news………….