News 17:00

BULLETIN 24 January 5 pm

Good afternoon. I am……..

In this bulletin:

# Big fuel price increases are expected in February
# Markets rise after a record day on Wall Street
# And rugby: The Blitzboks complete day one undefeated in Perth

# Motorists should brace themselves for significant fuel price hikes in February. Central Energy Fund data shows under-recoveries of 86- to 93-cents-per-litre for petrol and around one-rand-10-cents-per-litre for diesel, despite a stronger rand and lower oil prices. According to Business Tech, recent rand gains and oil price drops will take time to impact prices. Economists warn rising fuel costs could push inflation higher, adding pressure to household budgets early in the year.

# The GOOD Party has called on Public Works and Infrastructure minister, Dean Macpherson, to either defend the Expropriation Act or resign. This follows his rejection of land expropriation without compensation on social media. The party says Macpherson’s opposition goes against the Constitution, urging him to step down if he cannot defend the law. GOOD’s secretary-general, Brett Herron, argues the act is not about arbitrary land seizures but about correcting historical injustices:

# Education activist Hendrick Makaneta has called on private Afrikaans higher education institution Akademia to introduce English as a medium of instruction alongside Afrikaans. While praising the institution’s dedication to preserving Afrikaans culture, Makaneta emphasised the importance of inclusivity in higher education. He suggests that offering English-medium courses would attract a more diverse student population, promote multilingualism, and position Akademia as a leader in fostering unity in South Africa’s multicultural society:

# Global markets rose today after a record day on Wall Street in response to American president Donald Trump’s tax-cut pledge, while the yen strengthened after a widely expected interest rate hike by the Bank of Japan. In a much-anticipated speech via video link at the World Economic Forum in Davos, Switzerland, Trump pushed for lower interest rates and said he would cut taxes for companies investing in the United States while imposing tariffs on those who do not. He also called on Saudi Arabia and OPEC to lower oil prices.

# Rugby: The Blitzboks had to dig deep to down the hosts in their second group game and end the first day undefeated in the Perth Sevens in Australia. South Africa won 10-7 after scoring two unconverted tries through Donavan Don and David Brits, while Maurice Longbottom converted James Turner’s first-half try for the hosts. The Blitzboks narrowly beat America in their first group match this morning when Ronald Brown scored in the dying minutes. They take on Argentina in their final group game tomorrow morning.

# And the financial indicators: The dollar trades at 18-rand-36-cents and the euro at 19-rand-23-cents. One British pound costs 22-rand-79-cents and Bitcoin trades at 105-thousand-187-dollars. Gold sells at two-thousand-782-dollars-46-cents a fine ounce and Brent crude oil is quoted at 78-dollars-4-cents a barrel.

Stay tuned for more news………….