Innholdsfortegnelse for 2022-07-15 i Pretoria News

THE MINING sector could be the Achilles heel to the expected economic recovery in South Africa this year as output remains sluggish, pressured by ongoing power cuts and a three-month strike in the gold sector. This comes as South African mining output struggled to fully recover in May, firmly remaining on a contractionary trajectory even though it fell less than expected. Data from Statistics South Africa (Stats SA) yesterday showed that mining production shrank by 7.8 percent year-on-year in May following a downwardly revised 14.8 percent slump in April. Though this production reading was better than market forecasts of a 10.8 percent plunge, it marked the fourth consecutive month of a downturn in mining activity. Stats SA’s principal survey statistician, Juan-Pierre Terblanche, said production was driven lower…

THE BANKSERVAfrica Economic Transactions Index (Beti) moderated in June 2022, after a strong equivalent reading the month before, which could be an early sign of further and impending strain in the economy, Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements said yesterday. The Beti for June 2022 moderated to 5.3 percent higher than a year ago, which was down significantly from the 9.4 percent increase in May 2022. Following revisions for seasonal factors, the actual index level moderated to 136.7 points in June, after an all-time high of 143 points (revised lower from 143.5 points) reached in May. Independent economist Elize Kruger said the moderation was not unexpected in light of the many headwinds in the local economy in recent weeks – from recurring load shedding…

SOME YEARS ago, while the engine room of business continued to grind away, I found myself, working re- motely, enjoying a time of quiet reflection, which allowed me to take stock of certain realities. As one does in such times, grati- tude comes to the fore, not least of all for the incredible team at Business Report (BR) and Personal Finance (PF), that I have had the privilege of working with, for their dedication and quality reporting and being willing to face criticism and scepticism each time they broke a story. I also had the opportunity to reflect on some of the achievements and successes our publications have engendered, as it is so easy to lose sight of the good we have accomplished while deep in the trenches. There was,…

The much-anticipated ANC elective conference in KwaZulu-Natal will go ahead next week after branches finally met the 70% threshold that was required. The party provincial spokesperson, Nhlakanipho Ntombela, told the Pretoria News’ sister paper Daily News yesterday that out of just 800 branches that had qualified for the conference, 644 had already been given the green light by the national office report, which came back this week. He said the number was expected to grow since there were branches that would wrap up this weekend. Nevertheless, he said, the threshold has already been met and whether there were new branches or not the conference would go ahead. “We can confirm that we have met the required threshold, so there is no reason why the conference should not go ahead next…

THE Department of Public Works and Infrastructure says it is not responsible for load shedding schedules of any area or government building. The reaction came after several questions were raised on why the vast compound, east of Pretoria’s CBD, and which incorporates Mahlamba Ndlopfu – the chief official residence of the president, the Sefako Makgatho presidential guest house, the vice-president's official residence and many homes of Cabinet ministers – is exempt from the load shedding which has left many South Africans frustrated and in the cold. “The Department of Public Works and Infrastructure would like to set the record straight about the issue of load shedding in government buildings and state accommodation. For the past few days, the department has been inundated with enquiries regarding load shedding at Bryntirion Estate,…

US President Joe Biden and Israeli Prime Minister Yair Lapid signed a joint pledge yesterday to deny Iran nuclear arms, a show of unity by allies long divided over diplomacy with Tehran. The undertaking, part of a “Jerusalem Declaration” crowning Biden’s first visit to Israel as president, came a day after he told a local TV station that he was open to “last resort” use of force against Iran – an apparent move toward accommodating Israel’s calls for a “credible military threat” by world powers. “We will not allow Iran to acquire a nuclear weapon,” Biden told a news conference following the signing of the declaration. Washington and Israel have separately made veiled statements about possible preemptive war with Iran - which denies seeking nuclear arms - for years. Whether…

Sri Lanka’s President Gotabaya Rajapaksa emailed his resignation yesterday, soon after he reached Singapore, a spokesperson for the parliamentary speaker said. The resignation was being forwarded to the country’s attorney-general to consider legal implications before being formally accepted, Indunil Yapa said. Rajapaksa landed in the city-state on board a Saudia airlines flight from the Maldives, as protesters who chased him from his residence demanded he keep his promise to step down over his country’s worst-ever economic crisis. As president, Rajapaksa enjoys immunity from arrest, and he is believed to have wanted to go abroad before stepping down to avoid the possibility of being detained. In Colombo, demonstrators left several of the emblematic state buildings they had overrun in recent days, after Prime Minister Ranil Wickremesinghe instructed security forces to restore…

Brazzaville: Africa faces a growing threat from zoonotic diseases such as monkeypox, the World Health Organization said yesterday, with the continent recording a 63% rise in such outbreaks over the past decade. A WHO analysis found 1 843 “public health events”, such as disease outbreaks, in Africa between 2001 and 2022. Some 30% were outbreaks of diseases spread to humans by animals, which are known as zoonotic diseases. Ebola is included among these diseases,as well as dengue fever, anthrax, plague and monkeypox. The WHO said poor transport infrastructure once limited zoonotic infections on the continent. Africa could become a “hot spot”. | AFP…

LONDON: London’s Metropolitan Police said it had opened an investigation after multiple Olympic and world champion athlete Mo Farah told a BBC documentary that he was a victim of child trafficking. The 39-year-old said he was brought to Britain from Djibouti at the age of 9 and was forced to do housework in exchange for food. The Metropolitan Police said that no reports had yet been made directly to them. “Where offences are reported which are deemed significant public interest and there is no cause to disbelieve, then the Met can create a crime report,” the police said. | Reuters…

FINANCIAL resilience among South African households had improved consistently since 2019, but was threatened by higher interest rates, according to a key index that measures data on household wealth. The Altron FinTech Household Resilience Index (AFHRI) for the first quarter of 2022, released yesterday, showed there had been a steady improvement of South African households’ ability to repay debt since 2019. However, “although the ratio of household income to debt costs has improved considerably since 2019, a negative reading has been recorded since the fourth quarter of last year. With interest rates on the rise, this could weigh on the AFHRI for the rest of the year,” said economist Dr Roelof Botha, who compiles the index on a quarterly basis. The AFHRI is commissioned by Altron FinTech to provide more…

PEPCO, the pan-European discount retailer and Steinhoff subsidiary, said its store expansion programme continued in the third quarter and it was on track to deliver on an upgraded target of 450 new stores in the 2022 financial year. Steinhoff International Holdings’ share price increased 4.03 percent to close at R2.58on the JSE yesterday – it is still a far cry from the R5.55 that it traded at on January 18, with the price having fell steadily since. The owner of the Pepco and Dealz brands in Europe and Poundland in the UK, said in a third quarter trading update that new store openings, the biggest driver of value creation in the group, had continued across all brands in the quarter to June 30, with 350 new stores added so…

ALTX-LISTED Kibo Energy, the renewable energy focused development company, has extended a power purchasing agreement (PPA) in Gauteng from 10 to 20 years. The agreement was first announced in February, 2022. It outlines the construction, commissioning, and operation of a 2.7MW plastic-to-syngas power plant to generate base-load electricity for an industrial business park developer in Gauteng. According to the company, the extended term to 20 years would improve the already compelling project highlights. It said the financials of the company would improve and that there would be an increase in projected earnings before interest, taxes, depreciation, and amortisation from R388 million to R953m of which R619m was attributable to the company. Kibo Energy said there would also be an improved Internal Rate of Return with a projected increase of…

ON THE evening of July 15, 2016, the “Fethullahist Terrorist Organization” (Feto) launched a bloody coup attempt against the people and the government of my country. Their aim was to establish a radical, fundamentalist regime, loyal only to their ringleader, Fetullah Gülen. As Feto-affiliated army units left their barracks to occupy key locations, such as the Bosphorus Bridge in Istanbul, and fighter jets and attack helicopters bombed strategic targets including the parliament, presidential compound, army and police headquarters, thousands of civilians took to the streets to stop this unprecedented heinous coup attempt. The plotters killed 251 innocent civilians and left thousands injured. On that night the Turkish people defended democracy with their lives. This heroic response was something the conspirators did not foresee. To understand what transpired, one has to…

Wildfires raged across tinder-dry country in Portugal, Spain, France and Croatia yesterday, burning homes and threatening livelihoods, as much of Europe baked in a heatwave that has pushed temperatures into the mid-40°Cs in some countries. In Portugal’s central Leiria district, tired firefighters battled to control blazes that have been fanned by strong winds. Footage from the area on Wednesday showed smoke darkening the sky and billowing across a highway, while flames licked around the roofs of houses in one small village. “Yesterday was a very tough day,” Portuguese Prime Minister Antonio Costa said as he attended a briefing with the national meteorological institute IPMA. “It is absolutely crucial we avoid new events because it leads to the exhaustion of firefighters and all others ... who are doing their best to…

Tokyo: Japan will hold a state funeral for assassinated former premier Shinzo Abe later this year, Prime Minister Fumio Kishida said yesterday, following an outpouring of condolences from world leaders. Abe was shot dead in broad daylight while campaigning last week ahead of upper house elections. A private funeral was held for family and close associates this week at a Tokyo temple, but a state funeral will also take place. Abe’s long time in power, support of reconstruction after the 2011 tsunami and nuclear disaster, and “efforts towards diplomacy led by strong Japan-US relations” would be honoured at the event, Kishida said. | AFP…

BRUSSELS: Greece yesterday scored a win in its fight to protect their right to the term ‘Feta’, as Europe’s top court reprimanded Denmark for not blocking local companies from using the name for sales outside the EU. Greece claims feta as part of its cultural heritage because it has made the sheep-and-goat-milk cheese for 6 000 years. The Luxembourg-based Court of Justice of the EU (CJEU) agreed with its assertion. In the case brought by the European Commission and backed by Cyprus, Denmark argued that an export ban could be seen as an obstacle to trade. The issue is more than just national pride for Greece, which produces about 120 000 tons of feta annually. | Reuters…

SAN FRANCISCO: Microsoft co-founder Bill Gates pledged to transfer an additional $20 billion of his personal wealth to his philanthropic foundation, to support causes such as reducing child deaths, managing climate change and preventing future pandemics. The funds mean the Bill and Melinda Gates Foundation, named after the billionaire and his ex-wife, will disburse $9 billion annually by 2026, up from about $6bn today. Gates said there have been several recent “huge global setbacks,” including Covid-19, the Russian invasion of Ukraine and political division in the US. Gates is the fourth-richest person in the world, with a net worth of $113bn, according to Bloomberg. Melinda French Gates is worth $10.3bn. The new resources will also support increasing food production in Africa, he said, transforming the continent from a net importer…

THE message to the South African players is clear – play with more intensity and aggression. Both elements were lacking in a dreadful defeat to England in the first One-Day International on Monday, and if they are to avoid further embarrassment in Bristol today, then they need those two aspects to work well. That doesn’t mean being reckless, it is simply to show England that they won’t be allowed to dictate terms, as was the case in the first match. The Proteas were too passive, attempting to play a version of the game that was long ago made defunct. It is not the way they’ll win a trophy but thankfully in the aftermath of that defeat, it is something of which they are aware. “We need to play positive cricket,…

ANGLO American has partnered with Japan’s Nippon Steel Corporation to accelerate the transition to lower-carbon steel-making to help drive emissions reduction. The group, which supplies coal and iron ore to steel customers around the world, said it signed a memorandum of understanding to work with Nippon Steel. Nippon Steel is engaged in steel manufacturing, engineering, chemical and materials, and system solutions. As part of this agreement, the two companies will research ways to optimise premium lump ore produced by Anglo American’s mines to decrease emissions via the traditional blast furnace steel-making process. The project will also focus on studying the use of Anglo Ameri- can’s iron ore in the more carbon-efficient direct reduction iron (DRI) steel-making method. “DRI is estimated to generate significantly lower emissions than the more prevalent steel-making…

Pan African Resources achieved record annual gold production while strengthening its balance sheet in its year to June 30. In an operational update for the period, the JSE-listed company said yesterday that gold output increased by 2 percent to 205 459 ounces compared to 201 777 ounces in the prior year. The 2023 annual production guidance was revised to 200 000 ounces, 5 percent higher than the initial guidance of 195 000 ounces. Net senior debt was lowered by 71.5 percent to $9.6 million (R165.8m) compared to the previous year’s $33.7m. Pan African Resources said it also strengthened its balance sheet, despite the payment of a record dividend, incurring significant growth and sustaining capital expenditure. Chief executive Cobus Loots said: “We are…

Are you tired of not seeing any results in your fat loss journey even after putting in tons of effort? The journey to losing weight is a lengthy process and requires strong determination. It’s not just a strong mindset and intention that will help you achieve your goal. Following a strict diet, restraining yourself from tempting food and working out extensively are all part of it, but even then you may not see the desired results. You may wonder why. The answer is that some simple mistakes can totally ruin your fat loss journey. Nutritionist Nicky Sagar breaks down these simple mistakes: Inadequate sleep: One thing we always ignore is sleeping enough. Sleeping less has severe impacts on weight loss. From sleep, your body gets the required energy and helps…

Security company Fidelity ADT said it has noted a marked increase in the number of armed business robberies in the Pretoria CBD and surrounding areas including Sunnyside, Pretoria West, Arcadia, Lotus Gardens and Menlo Park. In the past weeks, the company said at least nine incidents were reported. Fidelity ADT branch manager Bennie Coetzee said the incidents were happening at various times of day and days of the week. “We are seeing an increase in business robberies, particularly at retail outlets like fast food outlets and garage shops, which are easily accessible. Business owners need to be vigilant, make sure their CCTV is working and remain vigilant for any suspicious activity. We recommend at least two staff members must always carry hidden panic buttons,” said Coetzee. “Visitors to these outlets…

THE City of Tshwane is set to encounter fierce resistance from township residents if it goes ahead with its planned #TshwaneYaTima aggressive revenue collection drive and disconnects water and electricity to defaulting homeowners. City spokesperson Selby Bokaba said they were finalising logistics to vigorously pursue defaulting township customers who owed a combined R7.3 billion. However, the chairperson of the Lotus Gardens, Atteridgeville, Saulsville Civic Association, Tshepo Mahlangu, said the City had already experienced resistance last Thursday when officials were stopped in Atteridgeville when they tried to disconnect defaulters’ electricity. “Our people stopped the City, and we immediately called MMC for Finance, Peter Sutton. First of all, this #TshwaneYaTima campaign is illegal on the basis that it seeks to make homeowners make payment arrangements for bills that were generated illegally over…

Public protector impeachment is an exercise in dishonesty, incompetence and cowardice THE ill-fated impeachment proceedings of Public Protector Busisiwe Mkhwebane currently under way were bound to expose the racism, dishonesty and mind-numbing incompetence of the constitutional experts, lawyers, parliamentarians and ANC members who regard the defence of President Cyril Ramaphosa, rather than the Constitution, as their primary preoccupation. The cracks in the case were exposed by the very first witness, Hassen Ebrahim, who claimed he was part of the Codesa negotiations and the Constitutional Assembly that drafted the Constitution in the 1990s. The self-proclaimed expert assiduously avoided dealing with the pivotal questions underlying the charges against the public protector. The first is the allegation that Advocate Busisiwe Mkhwebane exceeded her mandate and usurped the powers of Parliament when she recommended…

Russian missiles struck Vinnytsia in central Ukraine yesterday, killing at least 20 people including three children, in what President Volodymyr Zelenskyy called “an open act of terrorism”. The noon attack on the city hundreds of kilometres from the front lines and invading Russian troops came as EU officials convened in The Hague to discuss war crimes in Ukraine. The charred remains of upturned cars surrounded by burnt debris were seen in images distributed by officials next to a business gutted by a fire with brown smoke billowing nearby. Zelenskyy, during an address at The Hague yesterday, led a moment of silence before urging European and International Criminal Court officials during an address to open a “special tribunal” into Russia’s invasion. The International Criminal Court in The Hague opened an investigation…

HONG KONG: A Catholic priest launched a three-day protest yesterday outside a Hong Kong prison, demanding the release of activists and democratic politicians held under a sweeping national security law. Milan-born missionary Franco Mella, 74, vowed to refuse food as he stood on a dam wall overlooking the Shek Pik prison on an isolated stretch of Hong Kong’s Lantau Island. Mella was among more than a dozen Christian representatives who publicly petitioned then-Hong Kong leader Carrie Lam in January to grant an amnesty to media tycoon Jimmy Lai and other political activists who are jailed or in custody. | Reuters…

LONDON: A handwritten Mozart manuscript, a flight book from the bombing of Hiroshima and a fragment from a Gutenberg Bible, as well as a cassock worn by Pope Francis, are among a range of items up for grabs in an online sale by US-based Heritage Auctions. Fifty-two lots are being offered in the Historical Platinum Session Signature Auction, described as spanning “500 years of human innovation” and covering fields such as literature, science and history. “We start with a Gutenberg Bible leaf, so 1452 about, up to material that went to the moon on Apollo 11,” said Samantha Sisler, manager of speciality collections auctions at Heritage Auctions. | Reuters…