News 17:00

BULLETIN 20 August 5 pm

Good afternoon. I am……..

In this bulletin:

# President Ramaphosa sets a three-percent growth target, as the third phase of government-business partnership begins
# Brown Mogotsi is set to make a fourth bid for bail based on new evidence
# And motorsport, Max Verstappen will continue his journey with Red Bull into the 2030 season

# President Cyril Ramaphosa has set a target to mobilise three-trillion-rand in investment as government and business enter the third phase of their partnership. Speaking at the launch in Johannesburg, Ramaphosa said the new phase will focus on economic growth, job creation and investor confidence. He said government wants to lift economic growth above three-percent, with tourism, agriculture, agro-processing and mining among the key sectors:

# Union federation Cosatu says it is heartened by the tentative fall in consumer price inflation to 4.3-percent in July, down from 5.0-percent in June. South Africa’s inflation rate slowed for the first time in five months in July, partly due to a steep drop in fuel costs. Cosatu’s Matthew Parks says the war of aggression in the Middle East needs to end and a genuine peace deal to be put in place, as this will help improve global oil markets. He says a fall in fuel prices will give badly needed relief to workers:

# Self-proclaimed political fixer Brown Mogotsi is expected back in the Johannesburg Magistrate’s Court next Tuesday for his fourth bail application, based on new facts. The North West businessman Mogotsi today briefly appeared in court on allegations that he staged his own assassination attempt in Vosloorus, east of Johannesburg, last year. He faces charges of perjury, defeating the ends of justice and unlawful possession of a firearm.

# South Korean minister of Defence Ahn Gyu-back says North Korea could have between 80 and 120 nuclear warheads. That is substantially higher than US President Donald Trump’s recent estimate of 57. Ahn stressed the exact number is difficult to verify, with the estimate based partly on private research. Seoul still does not officially recognise North Korea as a nuclear-armed state and says it will rely on the US nuclear umbrella rather than developing its own arsenal. The estimates come as Trump seeks another meeting with Kim Jong Un later this year.

# Motorsport: Four-time Formula One champion Max Verstappen has signed a new long-term contract with Red Bull, which will see him race for the team through to 2030. His previous deal was due to expire at the end of 2028. The Dutchman first joined the Milton Keynes-based outfit in 2016, and has gone on to achieve 71 victories and four Driver’s Championships. Verstappen says he is excited to keep working with the team to get back to the top again. He is currently sixth in the Driver’s Championship.

# And the financial indicators: The dollar trades at 16-rand-16-cents against the rand and the euro at 18-rand-88-cents. One British pound costs 22-rand-4-cents and Bitcoin trades at 71-thousand-963-dollars. Gold sells at four-thousand-473-dollars-26-cents a fine ounce and Brent crude oil is quoted at 95-dollars-20-cents a barrel.

Stay tuned for more news………….