News 18:00

BULLETIN 15 October 6 pm

Good afternoon. I am……..

In this bulletin:

# Minister Dean Macpherson unveils the first bid window for infrastructure project funding
# The DA submits over five-thousand objections to the renaming proposal for Sandton Drive in Johannesburg
# And soccer: Fifa is to review the transfer rules after an EU court verdict

# Public Works and Infrastructure minister, Dean Macpherson, has launched a bid window for project preparation funding. It targets sectors including energy, water, sanitation, and transport. Macpherson says the initiative aims to boost infrastructure investment, drive job creation, and add 1.5-percentage points to economic growth. In addition, he says that a National Construction Summit will be held in eThekwini next month:

# The DA has filed over five-thousand objections to the City of Johannesburg against the planned renaming of Sandton Drive to Leila Khaled Drive. According to the party, residents believe the renaming is a costly distraction from essential services and that proper consultation hasn’t taken place. They argue any name change should honour a South African hero instead of the former Palestinian militant. The DA’s Leah Potgieter says local businesses are worried about potential diplomatic issues and financial impacts:  

# Civil society organisation Baagi ba South Africa has expressed concern over rising human trafficking and drug cartel scams targeting South Africans. Data from the Department of International Relations revealed that 680 South Africans were imprisoned abroad for drug offenses in 2023. The organisation has reunited 36 South African drug mules with their families in six years. Founder Glory Matipile emphasised that many victims apply for jobs abroad, making them easy targets for trafficking schemes and scams on social media.

# The World Steel Association forecasts a 0.9-percent decline in global steel demand to 1.75-billion tonnes this year, due to high costs, economic uncertainty, and tighter financing conditions. The association says that a recovery of 1.2-percent in global demand is expected in 2025, driven by improved consumption and infrastructure spending. However, geopolitical and economic uncertainties remain challenges. The association says the automotive sector is also likely to experience a slowdown after a strong performance last year.

# Soccer: Fifa will engage stakeholders to revise its transfer system following the Court of Justice of the European Union ruling that parts of its regulations are unlawful. This includes contract terminations without just cause. The court criticised current rules for restricting players’ freedom of movement. Chief legal and compliance official Emilio Garcia Silvero says Fifa will hold a global consultation regarding the amending of the framework:

# And the financial indicators: The dollar trades at 17-rand-59-cents and the euro at 19-rand-18-cents. One British pound costs 23-rand-3-cents and Bitcoin trades at 57-thousand-212-dollars-43-cents. Gold sells at two-thousand-655-dollars-57-cents a fine ounce and Brent crude oil is quoted at 74-dollars-29-cents a barrel.

Stay tuned for more news………….