News 18:00

BULLETIN 12 November 6 pm

Good afternoon. I am……..

In this bulletin:

# The DA backs the new 3-percent inflation target for fiscal and monetary certainty
# The MK Party slams the budget as a betrayal of the poor, and not reform
# And, the former Malawian president Bakili Muluzi withdraws mediation in Lungu body repatriation dispute

# The DA welcomes the new three-percent inflation target announced in Finance minister Enoch Godongwana’s fifth medium-term budget policy statement. The party says the move provides fiscal and monetary certainty, helping households and businesses plan for the future. The DA’s Mark Burke warns that slow gross domestic product growth and delayed reforms at Eskom and Transnet remain concerns for South Africa’s economy:

The MK Party meanwhile said the budget fails to address South Africa’s most pressing issues, including unemployment, inequality, poverty, and the land question. The party criticises the National Treasury’s gross domestic product projections as overly optimistic and warns current spending priorities favour debt repayment over the needs of the poor. MK spokesperson Nhlamulo Ndhlela rejects the budget as a continuation of economic apartheid, vowing to fight for a people-centred, developmental fiscal model:

# Former Malawian president Bakili Muluzi has withdrawn his mediation team from efforts to resolve the dispute between the Zambian government and the late former president Edgar Lungu’s family. The family wants a private burial in South Africa, where he died from cardiac arrest in hospital in June, while the Zambian government insists on a state funeral in his home country. The High Court in Pretoria earlier ruled in favour of repatriation and Muluzi says no conclusive solution was reached. Lungu’s body remains in South Africa.

# The International Organisation for Migration reports at least 42 migrants are missing and presumed dead after a rubber boat capsized off the coast of Libya. Libyan authorities rescued seven survivors who had drifted at sea for six days after the vessel, carrying 49 people, sank near the Al Buri oilfield. The boat departed from Zuwara in Libya on November 3rd. The survivors are from Sudan, Nigeria, and Cameroon. The search for more possible survivors are continuing.

# Golf: The DP World Tour has created the Rory McIlroy Award which is a new annual trophy to honour excellence in major championships. The Northern Irishman became the first European to complete the career Grand Slam when he won the Masters back in April. The award, which will be introduced next year, will be given to the DP World Tour member who performs the best across all four majors during a calendar year. McIlroy says this is an huge honour:

# And the financial indicators: The dollar trades at 17-rand-9-cents and the euro at 19-rand-78-cents. One British pound costs 22-rand-39-cents and Bitcoin trades at 103-thousand-768-dollars. Gold sells at four-thousand-133-dollars-97-cents a fine ounce and Brent crude oil is quoted at 63-dollars-23-cents a barrel.

Stay tuned for more news………….