News 18:00

BULLETIN 19 March 6 pm

Good afternoon. I am……..

In this bulletin:

# Parliament confirms the search and seizure operation at speaker Mapisa-Nqakula’s residence
# The MK party argues a decision on its registration is unreviewable by the Electoral Court
# And netball: Plans are afoot to improve the Proteas’ ranking

# Parliament has confirmed the National Prosecuting Authority’s Investigating Directorate has conducted a search and seizure operation at the Johannesburg home of the speaker of the National Assembly, Nosiviwe Mapisa-Nqakula. The probe is linked to alleged corruption during her tenure as minister of Defence and Military Veterans. Parliament’s spokesperson, Moloto Mothapo, asserts her innocence, stating she fully cooperated during the search. He says Mapisa-Nqakula remains committed to serving with integrity:

# The uMkhonto we Sizwe party says the decision by Deputy Chief Electoral Official Mawethu Mosery to register their party, is not subject to review by the Electoral Court. The ANC has filed a case in the Electoral Court in Bloemfontein to invalidate the MK party’s registration. The MK party’s Dali Mpofu accuses the ANC of attempting to sidestep the Electoral Act’s objection, appeal, and review mechanisms:

# Retailers’ confidence has declined in the first quarter despite increased sales volumes. This could be attributed to consumer reluctance in purchasing big-ticket items amid the upcoming national election. The Bureau for Economic Research’s latest survey revealed a dip in retailer confidence levels to 34 index points, with profitability remaining low. However, non-durable goods retailers saw improved volume growth, while textiles, clothing, and footwear retailers reported re-accelerated sales volumes. The outlook suggests a potential recovery in retail trade from the third quarter onwards, contingent on political and economic stability post-election.

# Marmite’s manufacturer, Unilever, announced plans to cut seven-thousand-500 jobs across the world. The consumer goods firm, based in the United Kingdom, also manufactures brands such as Domestos. It has about 128-thousand employees and says the proposed cuts will mainly be among office workers as technology advances. Sky News reports Unilever also announced it plans to spin off its ice-cream business, including Magnum and Cornetto, by next year. It expects its productivity programme to deliver cost savings of about 16.5-billion-rand over the next three years.

# Netball: South Africa is once again ranked fifth in the latest World Netball rankings, behind Australia, New Zealand, England and Jamaica. The Proteas have held this position since 2015 and breaking into the top four appears to be a very difficult task. New Proteas head coach Jenny van Dyk says they are making plans to improve the team’s ranking:

# And the financial indicators: The dollar trades at 18-rand-90-cents and the euro at 20-rand-54-cents. One British pound costs 24-rand-3-cents and Bitcoin trades at 62-thousand-569-dollars-18-cents. Gold sells at two-thousand-152-dollars-77-cents a fine ounce and Brent crude oil is quoted at 87-dollars-42-cents a barrel.

Stay tuned for more news………….