Índice para 2024-07-09 em Star

As the US waits for an indication of which way the US Federal Reserve may move in terms of cutting rates from an 23-year high – stronger for longer or sooner than the recent prevailing expectation of towards the end of the year – the rand is holding steady in a narrow band. Recently, the local currency has benefited from an investor-friendly election outcome as well as the Government of National Unity, which partially aided in a pull-back from levels of around the R19 mark to the greenback. The rand started off the day yesterday at R18.16 against the dollar and was 0.7% firmer to R18.13 by 6pm. US Fed chairperson Jerome Powell is set to testify to the Senate Banking Committee today, followed by a House panel appearance tomorrow.…

South African travellers to Ireland have been left anxious and confused by the prompt and immediate decision to revoke visa-free travel for South African and Botswana nationals. Ireland has introduced a new set of visa restrictions, which will come into effect from tomorrow. The Minister of Justice in Ireland, Helen McEntee, yesterday said South African and Botswana passport holders would be required to obtain a visa before travelling to Ireland from tomorrow. McEntee said the “carefully considered decision” would bring Ireland into closer alignment with the Schengen area. She said a transit visa would also be required if nationals of either country intended to transit through Ireland en-route to another destination. The Dublin Visa Office will now establish a dedicated ‘South Africa desk’ to process applications from South African nationals.…

South African equities were among the best performing in emerging markets last month as seen on the FTSE/JSE Capped SWIX Index, which was up 4.2% month-on-month (m/m). A worse-than-expected performance by the ANC in the May elections ushered in the unexpected prospect of a centrist coalition government led by the country’s two most popular political parties, the ANC and the DA, bringing with it the hope of much-needed structural reform for SA. Stocks geared to the domestic economy were the key beneficiary of improving sentiment. Banks and insurers both rose 16% m/m and rallied alongside general and discretionary retailers (up14% m/m and 18% m/m, respectively) and domestically-skewed real estate investment trusts (REITs), Growthpoint (up 11% m/m) and Redefine (up 12% m/m). The local currency was also a beneficiary of the…

Picture a future where developers channel their expertise into solving complex problems, while AI takes care of routine coding tasks. This future is rapidly becoming our present, as generative AI (GenAI) reshapes the landscape of software development. However, the technological leap forward brings opportunities and challenges. AI code generation offers enticing benefits: increased productivity, reduced error, and the ability for developers to channel their energies into high-level design and critical thinking. Yet, as this technology becomes more sophisticated, it raises profound questions about the future role of human programmers and the potential risks of over-reliance on machine-generated code. The journey of GenAI spans decades, from the rudimentary chatbots of the 1960s to today’s sophisticated large language models (LLMs). A significant leap forward came in 2014 with the widespread adoption of…

AN ESKOM employee and a service provider, who is an accomplice, made separate appearances before the Hendrina Magistrate’s Court last week, Eskom said yesterday in a statement. They were each granted bail of R30 000 after being charged for a crime committed at Hendrina power station the previous year. Between January 2023 and April 2023, the service provider supplied five valve stems to Hendrina power station which were stolen from the same power station warehouse, as a result of working with the Eskom employee. “An internal investigation revealed that the Eskom employee had misused company resources without authorisation for their own personal gain and also falsified documents as the end-user. “The Eskom employee resigned while a disciplinary action was being instituted,” it said. Eskom said it had suffered a financial…

Matthew Perry could have been swopping drug prescriptions with fellow addicts. The Friends star was found dead aged 54 in the hot tub of his Los Angeles home in October 2023, with an autopsy revealing he had been killed by “acute effects of ketamine” – and police sources have now said a press conference may be imminent where charges including involuntary manslaughter could be announced in connection with his shock death. Page Six added that former CIA and FBI special agent Tracy Walder, believes he was sharing prescriptions. She told the outlet: “He could easily have been procuring drugs through friends: ‘If you give me money, I will give you my prescription’ … there is a whole market that way.” The ex-investigator added amid the apparent ongoing police investigation into…

Electricity and Energy Minister Kgosientsho Ramokgopa has shifted his attention to the distribution network of electricity at municipal-level as the lack of investment and maintenance of infrastructure had forced Eskom to introduce load reduction. This comes as a number of municipalities have been under severe strain and have begun implementing outages to avoid overloading their distribution system. In his first media briefing since May 20, Ramokgopa yesterday said the improved performance of Eskom’s generation side had exposed how there had been little to no investment in replenishing maintenance, the upkeep, protection and modernisation of the distribution infrastructure. “At municipal-level we face the twin problems of the poor payment culture and poor revenue management. The municipal debt owed to Eskom is now R78 billion and if we do not halt this…

The Department of Co-operative Governance and Traditional Affairs in North West has confirmed that it has rescued more than 100 initiates who were found at illegal initiation schools. According to news reports, the department has also closed some of the bogus initiation schools that have been operating without the necessary permits in the province. The closure of the schools was conducted alongside other provincial stakeholders, among them the Provincial Initiation Co-ordinating Committee (PICC) and the SAPS. The SABC has reported that at least 13 initiates were rescued from illegal initiation schools in Lichtenburg and Coligny, while others were rescued from illegal initiation schools in Moretele, Tigane, Mahikeng and Madibogo. Speaking to the SABC, PICC chairperson Kgosi Godfrey Ramosetlho Gasebone slammed non-compliance of some of the schools and their principals…

The hastiness to form the government in Gauteng is to make sure that it covers the corruption that took place in some of the provincial departments. This is according to independent analyst GoodEnough Mashigo, who said the provincial government was rushed because they could not risk the chance of certain departments falling into the DA’s hands, such as the Health, Social and Human Settlements departments. “This would mean three things. One, at the Department of Housing the whole project of Alexandra renewal programme would come to the fore and reveal who benefited and what, how and where did the R1.4 billion go. So they can’t afford to lose that department to another political party. “Two, they also did not want anyone else to go to the Department of Health, where…

Build One South Africa (Bosa) has distanced itself from commitment to support the ANC in the Gauteng legislature. Party spokesperson Graham Charters told The Star yesterday that Bosa was not part of the Gauteng provincial government of unity (PNU). Charters, however, said the party would vote with the ANC on issues that the party felt were in the best interest of South Africans. “Our reasons for declining to be part of the PNU are the same as that of GNU. It is inaccurate that we agreed to support them (in provincial discussions). We will vote on an issue-by- issue basis for the best interests of the 16 million people who cast their votes,” Charters said. Bosa leader Mmusi Maimane had previously asked the ANC to fine-tune its GNU Statement of…

TSHWANE council speaker Mncedi Ndzwanana will on Thursday hear reasons for objections to or acceptance of ward committee nominees after the closing of the appeals process yesterday. Residents and other stakeholders who participated in the nomination of potential ward committee members were given until July 8 to make use of the appeals process should they wish to express their dissatisfaction. This was as the City of Tshwane edged closer to ward committee elections to mark the end of a 10-year period without the existence of municipal ward committees. In 2014, the Gauteng High Court, Pretoria nullified the 2012 ward committee elections following a court action by the DA questioning the constitutionality of the elections on the grounds that they excluded the participation of public members. The City’s process for correcting…

TB, THE leading cause of death in South Africa, remains a critical public health issue exacerbated by inadequate housing. Dr Panganai Dhliwayo, re-elected as president of the Sunrise Rotary Club, underscored this crisis during his induction ceremony at Huckleberry’s Restaurant in Magnolia Dell. Dhliwayo, a medical doctor, expressed grave concern over the homeless and inadequately housed populations disproportionately affected by TB. “Most people killed by TB are exposed to the elements and unhygienic situations that leave them predisposed to such killers,” he said. His remarks resonated with the attendees, including district governor George Senosha, assistant governor Thabang Chiloane, and district Polio Plus chairperson, Dr Muda Temane. In addition to his commitment to combating TB, Dhliwayo reaffirmed the club’s dedication to the global fight against polio, aligning with Rotary International’s primary…

Business Leadership South Africa (BLSA) has hailed the “new energy” brought to the Government of National Unity (GNU) by the new Cabinet appointed by President Cyril Ramaphosa, adding that there has been some progress in resolving electricity and logistics logjams as public and private sector collaborations gather momentum. South Africa notched 100 days without load shedding while ArcelorMittal SA last week said there had been improvements in Transnet port services. Because of rail and port logistical underperformance by Transnet, miners have been stockpiling ore while manufacturers and retailers had been unable to move stock from the ports on time. BLSA CEO Busi Mavuso yesterday noted the improvements in electricity and logistical logjams holding back operations and investment. “The progress made in electricity, logistics and crime, among other issues, has been…

Mining companies’ stocks on the JSE slumped yesterday on profit taking after last week’s rally in resource shares, with this week’s softer opening for commodities companies coinciding with metal prices starting the week weaker. SA mining stocks, including Thungela Resources, Sibanye-Stillwater and Kumba Iron Ore, made up the worst performers on the JSE in June, with the exception of Pan African Resources which notched up a 50% year-to-date strengthening. However, last week, the South African mining stocks firmed up from midweek trade, with resource-linked stocks rebounding by 0.80% on Friday. The week, however, began on a different note yesterday on the JSE as most of the counters under the resource index slumped. “It seems to just be a bit of mild profit taking after a strong week last week,” Roy…

Farmers should take protective measures to limit the impact of cold fronts on their crops and livestock, where possible farmers can cover their crops with protective materials, using windbreaks, and providing adequate shelter for livestock can help reduce the impact of cold weather. This was the advice of Dr Mpho Mathithibane, executive manager of operations at the Land Bank insurance company. This comes as the South African Weather Services (SAWS) has warned of an intense cold front/mid-latitude cyclone causing a significant drop in atmospheric pressure and strong winds, leading to high waves and storm surge along the west and south-east coastline of SA, in places between Alexander Bay and Gqeberha this week. A storm surge is an abnormal rise of seawater over and above predicted astronomical tides, generated by a…

SOUTH African-born Ugandan Melvyn Lubega’s professional track record is immaculately aspirational to say the least. Among his achievements, Lubega is an alumnus of St John’s College (where he was head boy); he is a trained actuary and former strategy consultant at The Boston Consulting Group. Lubega is a non-executive director of the Adcorp Group – “Africa’s largest workplace solutions provider” – and perhaps most notably, a founding executive of the Australian edtech unicorn GO1, a global leader in online training. GO1 has secured more than $400 million (R7.3 billion) in investment from major firms such as Softbank, Microsoft, and Salesforce since its inception in 2014. Recently, Lubega has taken a significant step by transitioning from being an African unicorn founder to an institutional venture capital (VC) investor – a move…

Chuffed by relative pricing stability and its new currency holding ground against major and regional currencies, Zimbabwean consumer companies could benefit from firmer consumption despite overall macro-economic weaknesses. Zimbabwe’s projected economic growth for 2024 has been weighed down by the impacts of the El Niño phenomenon, which has occasioned drought with knock-on effects on the agricultural and agro-processing sectors. The agriculture sector is thus anticipated to decline by 4.9%, dragging overall gross domestic product (GDP) growth down to 3.5%. Coupled with falling international commodity prices, especially for lithium and platinum group metals (PGM), exports are also set to be affected by between 0.5% and 0.7% this year, according to government data. However, analysts at IH Securities said yesterday that “strong underlying productivity and an increasingly dollarised trading environment powered by…

Europe’s aggressive blueprint to bolster its nuclear fleet for the energy transition is jeopardised by a lack of key components: skilled workers. Atomic power producers in France, the UK and Sweden are having trouble finding the hundreds of thousands of welders, engineers and planners needed for reactors they’re building now and ones they’re eyeing for mid-century. That’s why representatives from Électricité de France SA (EDF) and three subcontractors gathered recently in a classroom at the Lycee Polyvalent de l’Edit in Roussillon, a small town near the Saint-Alban nuclear plant in the Rhone valley. In a new recruiting initiative, they were pitching internships and job opportunities to about a dozen high school learners taking industrial maintenance courses. “Every company is hiring, notably in the nuclear industry, even more now with the…

Members of the National Union of Metalworkers of South Africa (Numsa) yesterday took to the streets, embarking on a strike at Gautrain. On Sunday, Numsa warned commuters that services at Gautrain may be interrupted due to the strike, following a deadlock in wage negotiations. “The National Union of Metalworkers of South Africa served a 48-hour notice to strike on the management of the Bombela Operating Company (BOC) which operates the Gautrain. “Wage talks began on April 17, and we have had two rounds of talks,” said Numsa spokesperson, Phakamile Hlubi-Majola. “Our last meeting was on June 11 which is when we deadlocked with the employer. We are the majority union with sole negotiating power at Gautrain. “The bosses refuse to meet our demands and this has led to workers resorting…

A slew of South African companies have recently announced their annual results, and along with their results, the remuneration packages of CEOs and executives that will make your eyes water. Bob van Dijk, former CEO, at Naspers received a R330 million pay day for the latest financial year, while Fani Titi, group CEO at Investec, was paid £5.2 million (R188.87m) for the 2023/2024 year. Shameel Joosub, chief executive, at Vodacom bagged R64m in earnings for the 2023 financial year. Sim Tshabalala, Standard Bank CEO, and Arrie Rautenbach, Absa CEO, earned R83.3m and R40.03m respectively. According to Salary.com, CEOs of companies are paid the big bucks because they are the top employees with huge responsibilities. It said CEOs offer a standard of talent that is required to produce company profits…

In an effort to recruit new donors and also celebrate and inspire existing contributors, the South African National Blood Service (SANBS) has launched a #WeAreThePulse campaign. In a recent statement, the SANBS revealed that 40% of the country’s population is under 25, and they are concerned that only 4% of eligible donors aged 16-19 and 8% aged 20-24 donate regularly. The campaign aims to address that. Thandi Mosupye, SANBS’s senior manager of marketing, communication and branding, said she views this campaign as deeply personal. “It taps into innate unity of South Africans, highlighting how collective action through blood donation can impact and sustain the blood supply essential for communities – for medical treatments ranging from trauma care to complex surgeries.” According to Mosupye, the campaign targets the country’s youthful population…

Ingredients 1 packet (about 800g) smoked pork mini eisbeins 8 cup (2l) water Glug olive oil 2 onions, chopped 1 bunch celery, sliced 2 garlic cloves, chopped 10 sprigs fresh thyme 2 bay leaves 8 cups (2l) vegetable stock or water 1 packet 500g dried green split peas Salt and milled pepper 4 large (about 350g) potatoes, cubed 1 packet (250g) PnP frozen whole green peas For serving: 1 packet (125g) sugar snap peas (optional), blanched Thyme Crusty bread Method Place mini eisbeins in a pot and cover with water, making sure they’re fully submerged. Simmer with the lid on until the meat is tender, about 40-45 minutes. Remove, discard the liquid and set meat aside. Heat oil in a pot over medium heat. Sauté onions and celery for 5-8…

Seven days after lamenting the failings of others in Austria, McLaren boss Andrea Stella was left admitting his own team’s mistakes in the wake of Lewis Hamilton’s long-awaited and emotional triumph at the British Grand Prix on Sunday. As Lando Norris finished third behind Mercedes’ seven-time champion and Red Bull’s series leader Max Verstappen, his team chief conceded that tactical blunders had cost him a shot at a dream home win, confirming how open this year’s scrap for the championship has become. After 12 of the scheduled 24 races, there have been six different winners with only Verstappen showing any real consistency even as Mercedes and McLaren appear to match Red Bull in performance — an enticing prospect for the second half. Here, we look at three things we learned…

TRANSPORT Minister Barbara Creecy has pledged to address challenges in the South African transport sector, highlighting progress made by the industry thus far. Creecy said yesterday that the SA transport sector was not working as it should, but the new Government of National Unity (GNU) was committed to addressing the nation’s serious transport challenges over the next five years. Creecy delivered the opening address of the 42nd Southern African Transport Conference (SATC) in Pretoria yesterday. She noted that when the country’s transport systems suffer, its economy faces depressed economic growth, declining investment, and it made it hard for working people to get to their jobs affordably or on time. But she said there had already been progress towards addressing national transport challenges. Creecy said a major development was the establishment…

Petroleum companies are unique creatures. They are the ogres of the murky swamp of geopolitics and its economics. This may be so because they wield enormous political influence, holding ugly sway over the policy levers of many sovereigns and affecting to a significant degree the outcomes of electoral processes of prominent democracies. With sleight of hand, they influence powerful governments to start wars and invade other countries, just so they can have a stranglehold over the oil resources of others. That’s a lot of power. So much so that they have evolved from being the purveyors of influence to being the dreaded spectre of the dictatorship by the unelected. While South Africa is distracted by the gloss of deceit, especially on the reasons why the refineries are closing down, the…

No one has ever imagined that someone could die due to a malfunctioning and compromised health technology system at one of South Africa’s health institutions. It seems such a scenario is possible now that there’s a security breach in the country’s key health entity. The National Health Laboratory Service (NHLS) has indicated that it was dealing with a ransomware attack that was affecting the dissemination of lab results. The NHLS runs 265 laboratories across South Africa that provide testing services for public health care facilities in the nine provinces. The security breach has significantly affected the ability of health professionals to provide care. What is disturbing is that South African health entities have been held ransom for days, resulting in chaos across health institutions. How could such an important system…

Sun City resort has begun a three-year long, R530-million major refurbishment project to spruce up its facilities and add more attractions in a bid to keep the tourist attraction “relevant” as the tourism industry bounces back. The flagship resort of Sun International achieved record profitability and net positive cash-flow contributions to the group, with adjusted earnings before interest, tax, depreciation and amortisation before management fees of R455m in the year ended December 31, 2023. The upgrades include the complete refurbishment of the 45-year-old Sun City hotel, the revamp of 236 units at the Sun Vacation Club’s The Reserve, the upgrade of existing tennis courts and new Padel facilities, new gaming and retail outlets, as well as extension of the renewable-energy installation. Sun City general manager Brett Hoppé yesterday said reinvestment…

A NEW reality show on Showmax is set to delve into the world of seven charismatic drag queens from Cape Town. The Showmax original reality show will offer viewers an eye-opening glimpse of their jaw-dropping transformations, unforgettable fashion, warring houses, opposing queen mothers, wig-gates and “sisterhood”. Let’s meet the queens. Manila Von Teez (He/They) (Drag: She/Her) Vion Wentzel, 33, also known as Manila Von Teez, is originally from Elsies River. She has been doing drag for over 14 years, winning multiple pageants, including Miss Gay Cape Town 2014. In 2016, Von Teez became the first drag queen to be named runner-up at “SA’s Got Talent”. Von Teez designs all their own clothes, through their label Haus of Vjorn. BB Vahlour (She/Her) Brandon Samuels, 23,…

AS THE annual Silwerskerm Festival draws closer, kykNET has announced the nominees for the TV section of the prestigious Silwerskerm Festival Awards for Film and Television. The ceremony will see the top achievers, including presenters, actors and film-makers, who have contributed to great television and entertainment between April 1, 2023, and March 31, 2024, being celebrated. The TV section pays homage to more than 20 categories and boasts a special section for lifetime contributions by living legends. The Lifetime Award Recipients will be announced on August 15. Leading the pack this year is Taktiek, with six nominations in various categories. Lead actors James Borthwick and Mandri Sutherland will go head-to-head for the Best Supporting Actor in a Comedy award, while Bennie Fourie and Schalk Bezuidenhout will battle it out…

BUSINESS operators and taxi men were among people caught on the wrong side of the law in Pretoria Central during Tshwane Ya Cleanna operation, a crime-fighting initiative aimed at rooting out illegal activities in the metro. The crime blitz was led by regional policing members of the Tshwane Metro Police Department (TMPD) in an effort to clamp down on businesses transgressing municipal by-aws. TMPD spokesperson senior superintendent Isaac Mahamba said several items were confiscated from business owners and individuals found to be in violation of municipal by-laws during the operation. In addition, he said, the non-compliant business establishments were issued with notices giving them opportunities to rectify their unlawful acts. Mahamba hailed the operation as successful, saying it also resulted in a total of 22 taxis impounded for various offences…

The civil society organisation, Mosaic, calls for stronger GBV action from the new Cabinet. Last month, the public protector released a report on the investigations into administrative deficiencies relating to the processing of gender-based violence-related matters within the South African criminal justice system. In the report, the public protector also highlights the infrastructural challenges that have a negative impact on efficient and effective service delivery in that court officials are unable to execute their functions in a conducive environment. The slow network and lack of electricity leads to delays and inefficiencies in the service court officials are able to render to the public. Water shortages and broken air conditioners create an unsafe and unhygienic environment for court officials, and court users experience unnecessary delays in receiving services due to the…

Things went south in the east of Germany as the Sachsenring threw RedBull KTM plenty of challenges, and the team will head into the summer break with more questions than answers as Silverstone lies in wait in three weeks. Brad Binder’s poor run in the qualifying session placed him in eleventh position for the sprint, and after having improved from that position to eighth, “Mr Sunday” couldn’t emulate his previous race-day performances as he finished ninth. The 28-year-old had seventh position well within his grasp but ran off the track after a a mistake at turn 11 of the last lap of the race and opened the door for Marco Bezzecchi and Pedro Acosta, who took the invitation with open arms as KTM headed into the break still in…