News 18:00

BULLETIN 1 September 6 pm

Good afternoon. I am……..

In this bulletin:

# The DA says Johannesburg’s Lilian Ngoyi Street upgrade is 40-million-rand over budget and still incomplete
# Petrol and diesel prices will decrease from Wednesday
# And Cricket: The Proteas play England in the first ODI at Headingley tomorrow

# The DA says Johannesburg residents are paying the price for mismanaged infrastructure as the Lilian Ngoyi Street upgrade remains incomplete. The project, initially budgeted at 172-million-rand, has now reached a cost of 215-million-rand, exceeding the budget by 40-million-rand. According to the party, only 1.8 kilometres of road have been delivered, costing nearly 100-million-rand per kilometre. The DA’s Belinda Kayser-Echeozonjoku urges the National Treasury to conduct a forensic audit of all contracts:

# The Department of Mineral Resources and Energy has announced petrol prices will drop by four-cents per litre for both 93 and 95-octane, effective from Wednesday. Diesel prices will also fall, with decreases of 56- to 57-cents per litre depending on the sulphur content. Illuminating paraffin wholesale prices drop by 37-cents per litre, while retail prices fall by 49-cents per litre. LP gas sees the biggest cut, with a decrease of one-rand-32-cents per kilogram.

# Agriculture minister John Steenhuisen says South Africa’s export market remains small due to its foot-and-mouth disease status. He confirmed that major feedlots halted production which disrupted supply to supermarkets, restaurants, and even the leather sector. Steenhuisen says the inability to slaughter also affects food security, particularly poorer consumers relying on affordable products like heads and entrails. He confirmed to Newzroom Afrika that industry bodies are monitoring the situation:

# The South African Chamber of Commerce and Industry says rising global debt and inflation show the need for strong economic policies. Its new report indicates South Africa’s inflation has eased since the pandemic, and fiscal and monetary policies are moving towards stability. The National Treasury and the South African Reserve Bank are reviewing the inflation target, currently set between three and six percent, with the Reserve Bank targeting 4.5-percent. SACCI CEO Alan Mukoki says a review will help strengthen the economy and protect growth.

# Cricket: The first of three one-day games between South Africa and England will be played at Headingley in Leeds tomorrow, shortly after the end of the Proteas’ white ball series in Australia. South Africa won the ODI series 2-1. The ODIs against the English will be followed by a three-match T20 series, with experienced batter David Miller returning after preferring to play in Britain’s The Hundred instead of travelling Down Under. The second ODI will take place on Thursday and the final one on Sunday.

# And the financial indicators: The dollar trades at 17-rand-57-cents and the euro at 20-rand-57-cents. One British pound costs 23-rand-78-cents and Bitcoin trades at 109-thousand-188-dollars. Gold sells at three-thousand-475-dollars-50-cents a fine ounce and Brent crude oil is quoted at 68-dollars-18-cents a barrel.

Stay tuned for more news………….