Global rollout of hydrogen buses advancing, World Platinum reports
The rollout of platinum-based hydrogen fuel cell buses is advancing worldwide, driven by technology improvements, the World Platinum Investment Council reports. Adding to the global favouring of hydrogen buses are expanding original equipment manufacturer (OEM) participation and the need to meet policy commitments, the council adds in its latest media release.
South Africa's policy rate on hold as Iran war seen pushing up inflation
South Africa's central bank maintained its main lending rate at 6.75% on Thursday, saying caution was needed as higher energy prices triggered by the US-Israel war against Iran would push up inflation. Economists polled by Reuters had expected no change in the repo rate, as the Middle East conflict has forced central banks around the world to revise their forecasts and reconsider the path for interest rates.
Civil society lacks financial clout to compete electorally, political culture shakeup can compensate
Civil society organisation Abahlali-Base Freedom Park community organiser Peter Monethe said on Thursday that although there is a growing and rapid decline in public trust in political parties, it is difficult for civil society organisations to compete against the visibility and reach of well-funded political machines in an electoral setting. Monethe was speaking during a roundtable discussion organised by Public Affairs Research Institute on the possibilities of civil society organisations contesting local government elections.
WTO chief calls for trade overhaul to meet new world order
The World Trade Organization (WTO) chief called on countries on Thursday to overhaul global trade rules, telling them the old world order had gone for good, following a year of turmoil sparked by US tariffs and wider geopolitical tensions. Ngozi Okonjo-Iweala set out a list of problems facing the WTO - including the paralysis of its dispute-settlement mechanism - at the start of a four-day meeting of the body in Cameroon.
Middle East crisis underlining relevance of supply strength of South Africa’s Omnia
At this time of crisis in the Middle East, the supply chain strength of South Africa’s Omnia is of major relevance from a mining perspective. The Johannesburg Stock Exchange-listed Omnia has a strong grasp of ammonia-based emulsion and explosives inputs as well as key detonator capability, which adds value to mines by providing appropriate fragmentation and ensures that mines have the inputs to blast when they need them, which is so relevant amid what is being faced today – Middle East supply chain disruption.
US urged France to revoke South Africa G7 invite, Pretoria says
France withdrew an invitation for South Africa to attend a summit of Group of Seven leaders in June following pressure from the US, President Cyril Ramaphosa’s office said. Leaders of the world’s richest nations are scheduled to meet in Évian-les-Bains, in southeastern France, from June 15 to 17.
South Africa's policy rate on hold as Iran war seen pushing up inflation
South Africa's central bank kept its key interest rate unchanged at 6.75% in a unanimous decision announced on Thursday. The majority of economists polled by Reuters had expected no change in the repo rate, as the US-Israel war against Iran is expected to spur price pressures in Africa's biggest economy.
Mashatile says S Africa ‘encouraged’ by growing Chinese investment
Deputy President Paul Mashatile announced on Thursday that South Africa sees significant potential to expand cooperation with China in infrastructure development, particularly in the modernisation of ports, rail and road networks, which he said remain critical to unlocking economic growth and improving regional integration. Mashatile was speaking at the 9th session of the South Africa-China Bi-national Commission, where he said South Africa was encouraged by the growing investment footprint of Chinese enterprises in South Africa.
Renewed urgency on reforms needed to ensure ‘economic lift-off’ – BER
South Africa could grow by at least 3% and create 2.4-million more jobs by 2030 relative to 2025 if it doubles down on catalytic reforms, but it must act with renewed urgency if it is to convert rising confidence into “economic lift-off”, research organisation the Bureau for Economic Research (BER) asserts. In its ‘Scenarios for the South African economy: 2026 – 2030’ report, the BER says South Africa’s growth prospects have perked up as structural reforms are starting to take hold, noting, however, that improved sentiment has yet to translate into the fixed investment needed to spur a rapid recovery.
DA launches urgent interdict over CoJ's R10bn wage agreement
The Democratic Alliance (DA) on Thursday is seeking to urgently interdict the R10-billion wage agreement between the City of Johannesburg, and South African Municipal Workers Union (SAMWU). Last week, the Johannesburg City Council passed the adjustment budget, which the DA said highlighted the “catastrophic risk” to the City’s financial viability of the agreement with SAMWU.
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