News 18:00

BULLETIN 26 March 6 pm

Good afternoon. I am……..

In this bulletin:

# The Presidency says US pressure influenced France’s reversal on South Africa’s G7 participation
# The South African Reserve Bank keeps the repo rate unchanged at 6.75%
# And, the Department of Mineral and Petroleum Resources distances itself from work-from-home remarks amid rising fuel costs

# The Presidency says US pressure influenced France’s decision to withdraw president Cyril Ramaphosa’s invitation to attend the G7 summit in Evian in June. According to the presidency, Washington had threatened to boycott the summit if South Africa was included, leading France to reverse an invitation initially extended by president Emmanuel Macron. Spokesperson Vincent Magwenya says Ramaphosa accepts the decision and will continue resolving disputes through constructive dialogue, adding that it will not affect strong bilateral ties with France.

# The South African Reserve Bank’s Monetary Policy Committee has kept the repo rate unchanged at 6.75-percent. The bank says the decision reflects ongoing global uncertainty, including rising oil prices linked to the Middle East conflict, which is expected to push inflation higher in the short term. Governor Lesetja Kganyago says while inflation is likely to rise temporarily, it should return to the three-percent target over time:

# The Department of Mineral and Petroleum Resources has clarified working from home is not an official government response to rising fuel costs. This after the director of fuel pricing, Robert Maake, suggested remote work as one of several possible ways consumers could manage rising fuel costs. The department’s Lerato Ntsoko says no directive has been issued, and any formal policy decisions on fuel pricing or cost-of-living measures will be communicated through official channels:

# India’s parliament has passed a controversial bill that seeks to change how transgender people are legally recognised and their right to self-identify. The government says the changes will make welfare benefits more accessible and strengthen an existing law against exploitation and trafficking. However, critics warn it could exclude many transgender, non-binary and gender-fluid people. Members of the transgender community have held multiple rallies and protests over the past week against the bill. Activists say the new bill could reshape how transgender people are legally recognised.

# Motorsport: A rejuvenated Lewis Hamilton says at the age of 41 he was more committed to Formula One than ever before and believes he trains harder than any other driver. The seven-time world champion has made a strong start to the season with Ferrari and is fourth in the championship after two races, 18 points behind leader George Russell of Mercedes. Hamilton endured a nightmare first season with Ferrari last year. However, his fortunes have changed markedly with new regulations and car designs this season, with more overtaking in races than in recent years.

# And the financial indicators: The dollar trades at 17-rand-1-cent against the rand and the euro at 19-rand-65-cents. One British pound costs 22-rand-74-cents and Bitcoin trades at 69-thousand-573-dollars. Gold sells at four-thousand-458-dollars-77-cents a fine ounce and Brent crude oil is quoted at 100-dollars-87-cents a barrel.

Stay tuned for more news………….