News 18:00

BULLETIN 23 August 6 pm

Good afternoon. I am……..

In this bulletin:

# Ramaphosa assures Tsakane residents their concerns will be addressed
# The IRR calls for VAT reduction to 11.5-percent to alleviate financial pressure on South Africans
# And, Parisians are way more keen on attending the Paralympic Games than the Summer Games

# President Cyril Ramaphosa assured the public at the presidential imbizo in Tsakane, Ekurhuleni, in Gauteng that their concerns are being carefully noted and will be addressed by the relevant ministers. Ramaphosa says government is committed to addressing the nation’s challenges through a united approach, with all issues raised being addressed collaboratively by the government of national unity:

# The Institute of Race Relations is urging government to cut VAT from 15- to 11.5-percent to ease financial pressure on consumers. The institute argues that high living costs and debt repayments are straining households, particularly domestic workers and the middle class. They suggest that reducing VAT could provide significant relief, boosting economic growth without increasing government debt or cutting services. The institute’s Gabriel Crous calls for revising public procurement laws to cut state overspending, potentially funding the proposed VAT reduction:

# AgriSA is calling for greater transparency as the Department of Water and Sanitation updates its raw water tariff strategy for the first time since 2007. The organisation states while it’s crucial to fairly fund water infrastructure, the new tariffs must balance sustainable water management with the economic and social benefits of farming. According to AgriSA, clear communication on how water charges are calculated and used is essential to ensure agriculture remains robust and supports food security.

# Police in Iceland have declared a state of emergency after a volcano erupted, forcing homes to be evacuated. The eruption on the Reykjanes Peninsula in southwest Iceland, is the sixth outbreak since December. Iceland’s meteorological office recorded increased seismic activity and earthquakes at Sundhnukar days before the volcano erupted. A large fissure has opened up nearby with lava flowing both east and west. Since 2021, there have been nine eruptions in the area. The geological system had previously been dormant for 800 years.

# Paralympic Games: Locals are very keen on buying tickets for the event, starting in the French capital on Wednesday, after snubbing the Summer Games. Reuters reports scores of Parisians left the city ahead of the Olympic Games, fearing expected disturbance and traffic problems. The Paralympics will allow them to watch Olympic sports in the same venues. The organisers say 92-percent of the 1.75-million tickets already sold for the Paralympics were bought by French people, most of them from Paris and surrounds.

# And, the financial indicators: The dollar trades at 17-rand-79-cents and the euro at 19-rand-85-cents. One British pound costs 23-rand-45-cents and Bitcoin trades at 61-thousand-967-dollars-3-cents. Gold sells at two-thousand-511-dollars-82-cents a fine ounce and Brent crude oil is quoted at 78-dollars-47-cents a barrel.

Stay tuned for more news………….