Latest news with #Israeli-Iran
IOL News
02-07-2025
- Business
- IOL News
Latest fuel price hikes push South African consumers deeper into despair
As South Africans brace for another round of escalating living costs, the rising fuel prices serve as a harsh reminder of the ongoing economic struggles many face. With households forced to compromise on essentials, it begs the question: how much longer can consumers endure in this cycle of debt and despair? Image: Antoine de Ras / Independent Media. Hot on the heels of a modest petrol decrease in June, South African motorists now face a jarring reality as fuel prices surge again from 2 July 2025. The new rise, which pushes 95 Unleaded petrol to R21.87 per litre and 93 Unleaded to R21.79 (an increase of 55 and 52 cents respectively), leaves many consumers grappling with the spectre of financial instability. Diesel costs have similarly escalated, climbing by 82 to 84 cents per litre. The timing could not be worse; after a momentary sigh of relief, households find themselves back on the edge of despair, hoping for an escape from relentless financial pressures. The Department of Petroleum and Mineral Resources (DMRE) attributed this recent spike to geopolitical factors such as the ongoing Israeli-Iran conflict, which pushed Brent crude oil prices up by as much as 13%. While the rand has held up surprisingly well amid this turmoil, it is the consumer who bears the brunt of these developments. But amidst the exasperating energy landscape, the July financial calendar ushers in local municipal tax hikes, further tightening the noose on struggling South African households. Cities across the country are expected to impose price increases on essential services, including electricity, water, and sanitation, at rates surpassing inflation. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Estimates suggest that households could face bill increases as steep as 30% to 80%, particularly among those with lower consumption levels. This shift is a consequence of a new pricing structure being initiated by Eskom, aligning energy prices with supply costs and seeking to mitigate subsidies. The 2025 Energy Market Projections report, compiled by Cresco in collaboration with Standard Bank, painted a sobering picture for the future. Despite the temporary reprieve from load shedding, South Africa is perilously close to facing yet another energy crisis, foreshadowed by the potential decommissioning of Eskom's coal plants without adequate new energy generation capacity to fill the void. The alarm bells ring louder as the report indicates that without significant advancements in energy infrastructure, the country risks being unable to adequately support a growing economy. Neil Roets, CEO of Debt Rescue, highlighted the gravity of the situation. "With no end in sight to the volley of living cost increases, coupled with consumers already cutting back as much as they can, the latest fuel price increase will cut deeply into the little disposable income people still have left. Alongside the surging prices of electricity and municipal services, millions of households are teetering on the brink of financial catastrophe," Roets told Business Report. Furthermore, insights gleaned from the latest BankservAfrica Take-home Pay Index revealed a lingering stagnation within the labour market. The nominal average take-home pay plummeted to R17,296 in May 2025, a decline of 1.3% from April, marking the third consecutive month of decreased income. "While the upward trend in take-home pay from mid-2024 had provided optimism, recent months reflect a concerning downturn," independent economist Elize Kruger said, who pointed to a volatile economic environment compounded by persistent domestic challenges. The findings also underscore a spiralling consumer debt crisis. A recent Debt Rescue survey highlighted that half of the participants reported an inability to afford basic necessities such as food and fuel. Alarmingly, 50% of respondents admitted to relying on credit merely to secure everyday essentials over the past year. This distressing cycle reveals an increasingly common truth for many South Africans: survival is becoming a daily struggle. In response to this dire landscape, Roets urged those grappling with debt to seek help from registered debt counsellors, who can provide essential support in navigating their financial predicaments. "These professionals have successfully aided thousands of over-indebted consumers," he said. BUSINESS REPORT Visit:
The Citizen
30-06-2025
- Business
- The Citizen
Policy Uncertainty Index drops slightly while global and local uncertainty remain
When economic policy uncertainty is strongly present in the environment, it lowers investment, employment and output. The Policy Uncertainty Index for the second quarter has decreased slightly but remains deep in negative territory as the global outlook remains uncertain despite the US promising to reduce tariffs on goods imported from South Africa. According to the NWU Business School Policy Uncertainty Index (PUI) for the second quarter, policy uncertainty eased to 75.9 compared to its record high of 78.6 in the first quarter of the year. The Index was launched in early 2016 and is published annually in January, April, July, and October. An increase beyond 50 reflects heightened policy uncertainty, while a decline means reduced uncertainty. The Policy Uncertainty Index is expressed as a net balance, representing the net outcome of positive and negative factors that influence the calibration of policy uncertainty. The three elements constituting the latest Policy Uncertainty Index show: The media data reflected a modest decline in references to policy uncertainty The survey of economists almost universally assessed policy uncertainty to be more or less unchanged The University of Stellenbosch's Bureau for Economic Research survey of manufacturers experiencing policy/political uncertainty was slightly up from 77 to 80. ALSO READ: Policy Uncertainty Index drops sharply due to various local and global risks Partial respite on trade with suspension of US tariffs for Policy Uncertainty Index Professor Raymond Parsons, an economist at the NWU Business School, says that while the global outlook is highly uncertain, there has been a partial respite on the trade front, as the US administration has suspended most, but not all, tariff hikes until July 9, pending further negotiations. 'Internally, although there have been some positive developments, they were outweighed by negative factors.' Parsons says the global economic growth outlook was further trimmed by international organisations such as IMF and the OECD that reduced growth forecasts for most major economies, including the US economy, except for the EU economy, where modest growth is still anticipated 'The downward revision of various global economic growth outlooks therefore stems from a convergence of geopolitical risks, elevated economic uncertainty due to 'Trumpanomics' and erratic tariff decisions and a tangible repricing of risks in financial markets generally. 'These overall economic assessments were reinforced by the Israeli-Iran conflict, further increasing global economic uncertainty. (This Policy Uncertainty Index was finalised before the US attack on Iran).' Parsons also points out that the US Fed decided to leave interest rates unchanged for the fourth time in June, while the World Bank assesses that the Sub-Saharan economy will grow by 3.5% in 2025, rising to 4.3% in 2026-2027, but with the usual associated risks and uncertainties. ALSO READ: Policy Uncertainty Index falls, confirming uneven economic recovery Positive factors for South Africa: lower inflation and repo rate in Policy Uncertainty Index In the second half of 2025, positive factors in South Africa over the past quarter included lower inflation and easier interest rates, and if the inflation outlook continues to stabilise, there is the possibility of another modest cut in borrowing costs later in the year, Parsons says. 'There is also now the prospect that South Africa may be off the Financial Action Task Force (FATF) grey list by the end of 2025, which will mean that borrowing costs will be lowered for South Africa. 'At the policy level, the most important development in the second quarter, which is necessary to promote, was probably parliament's eventual finalisation and acceptance of a 'pragmatic' third 2025-26 Budget, but without the controversial VAT [value-added tax] increase. 'However, if the various key parameters in the Budget are not met, future risks to fiscal sustainability remain.' ALSO READ: Business Leadership CEO expresses worry about recent GNU tensions Negative factors to beware of in second half of 2025 in Policy Uncertainty Index Parsons also points out that negative factors offsetting the positive ones in the second quarter include: The muted high-frequency data in recent months The disappointing 0.1% gross domestic product (GDP) growth in the first quarter National Treasury and the South African Reserve Bank are scaling down growth forecasts for 2025 and Higher unemployment. 'The weak fixed capital investment trends revealed in the GDP figures for the first quarter also raised a red flag, and heightened planned infrastructural spending must urgently respond. If present trends persist, the present GDP growth outlook for 2025 is about 1%, increasing to about 1.5% next year.' He warns that the developing economic recovery in South Africa is struggling to gain momentum and says the country needs a strategic pivot in growth policy to create the extra economic buffers required to deal with external shocks. 'The GNU's policy agenda for a 3% GDP growth target in the medium term therefore now urgently needs an impulse, a jolt, an acceleration, so that the tailwinds in the economy outweigh the headwinds in 2025 and beyond.' ALSO READ: Policy uncertainty in SA increased, but GNU could be positive influence Negative trends in Policy Uncertainty Index that can be reversed Parsons says that although the Policy Uncertainty Index for the second quarter remains well in negative territory for now, these trends proved to be reversible in the past if the right actions are taken through policies and actions under South Africa's control. 'In any event, the emerging economic recovery at present is battling to gain traction and therefore needs maximum support to underpin the business cycle upturn. A strategic pivot in investment and growth policies is also needed to create the extra economic buffers required to deal with emerging external shocks.'
eNCA
29-06-2025
- Politics
- eNCA
Gaza war rages on despite Iran-Israel ceasefire
GAZA - Tensions between Israel and Iran appear to have eased, but the war in Gaza still continues. Israeli airstrikes have killed at least 72 people since Friday, many of them women and children. Desperation is growing in Gaza, where food is scarce, aid is limited, and families are still dying under the rubble. Strikes also hit shelters and streets crowded with displaced residents. US President Donald Trump says a ceasefire between Israel and Hamas could be agreed to, within a week. But there's no confirmation and little optimism on the ground. Past talks have collapsed, and both sides remain firmly divided. Gaza's humanitarian crisis is worsening. Israel has allowed limited aid in but it's not enough. Despite hopes that the Israeli-Iran ceasefire might ease regional tensions, Gaza remains a battlefield. As diplomatic talks continue behind closed doors, the people of Gaza remain trapped with no real relief in sight.
Yahoo
25-06-2025
- Politics
- Yahoo
Tucker Carlson takes on Fox News
For years, Tucker Carlson made a name for himself on cable television and built a loyal following through attacks on Democrats, rival network news hosts, and other leading enemies of the right. Now the conservative political podcaster and social media personality is turning his fire on the company that helped build him up — and then terminated him three years ago after he served as a staple of its prime-time lineup: Fox News. Carlson, who opposed U.S. intervention in the Israeli-Iran war, has ripped Fox over its coverage of the conflict. 'The Murdochs really hate Trump,' Carlson said during a recent episode of his online commentary and interview show. 'I got fired in April of 2023. In May of 2023, they asked me to run for president against Trump and said they would back me.' His battle with his former employer underscores the MAGA fight for the president's ear. Anti-war MAGA figures like Carlson are worried that Fox News, which has been reliably supportive of calls to attack Iran, has had too much influence on President Trump, who last Saturday ordered strikes on three Iranian nuclear plans. Trump is known to watch media coverage of his decisionmaking as president closely and in real time, placing particular stake in how things 'play' on Fox, those around him say. The New York Times reported several top advisers to the president are irritated Carlson is no longer at Fox, fearing Trump was not hearing enough of a more isolationist argument when deciding whether to attack Iran's nuclear facilities. Carlson has made this argument explicit, saying Fox is engaging in pro-war 'propaganda' as part of an effort to 'scare old people' and benefit the 'warmongers' running the network. As Carlson hosted a conversation with Steve Bannon, a former top White House aide who also is known for taking shots at the Murdoch family, Carlson remarked it 'feels like Fox is playing a central role in the pro-war push.' 'They're doing the thing they always do,' he said. 'Turning up the propaganda hose to full blast and just knock elderly Fox viewers off their feet and make them submit to a new war.' Mark Levin, a weekend Fox News host and conservative talk radio firebrand, has been a target of Carlson's and has often pushed back. Levin, who often raises his voice and shakes as he speaks with passionate bombast, has advocated for more military action against Iran and called Carlson out by name over his previous positions on the Middle East when he worked as a host on the more liberal CNN and MSNBC. 'His preposterously hysterical warnings about what would happen if the president acted militarily against Iran's nuclear sites were illustrative of his unhinged bravado,' Levin wrote on social media of his former fellow Fox host. 'He's very proud of his depraved insanity.' Levin then called Carlson 'Qatarlson,' a play on Qatar, an ally of Iran. 'Qatarlson has been a liberal, a libertarian, an actual neo-con, a conservative, and today just a simple reprobate who has much in common with Bernie Sanders and Rashida Tlaib,' Levin said. Fox News did not comment on criticisms from Carlson, Bannon and others in recent days, though the network did send a press release on Tuesday reporting its industry-leading ratings during the U.S. military strike on Iran. Carlson has turned some of his criticism on Trump himself, surprising many in media and political circles when he blasted the president as 'complicit' in the escalating violence in the Middle East. Those comments earned the commentator a rare rebuke from the president, who called him 'kooky' in a social media post last week. Later, Trump told reporters he had spoken to Carlson by phone and the two had reconciled. 'DJT and Tucker are good,' one source with knowledge of the dynamic told The Hill this week. 'And this thing getting wrapped up so quickly basically stopped a major civil war on the right.' But the war between Carlson and Fox appears far from over. 'All of this is deranged,' Carlson said again this week after playing for his online audience clips from Fox hosts and guests warning about the dangers of Iran obtaining nuclear weapons and advocating for regime change in Tehran. 'These are all people who hate Trump,' he said of GOP Sens. Lindsey Graham (S.C.), Ted Cruz (Texas) and others featured in the montage, all of whom see themselves as allies of the president. Carlson earned a flurry of headlines and even some rare praise from liberals last week for an interview he conducted with Cruz days earlier questioning the lawmaker on the merits of U.S. involvement in the Middle East and quizzing him on basic facts about Iran. The two battled when Cruz — who has made regular appearances on Fox in recent weeks to advocate for a stronger U.S. posture toward Iran, primarily on pundit Sean Hannity's prime-time program — acknowledged he did not know the population of Iran. Some observers say Carlson is also playing a game to his own benefit. 'Tucker Carlson is doing what he does best, which is playing the role of Tucker Carlson,' said Peter Loge, a professor of politics and communications at George Washington University. 'If he isn't outraged or shouting at people in power, he isn't doing his job. Biting hands is how Tucker Carlson pays the bills.' If Fox News's coverage leans pro-Trump and approves of his decision to launch strikes at Iran, that is also a conscious choice by the network, one GOP political operative said. 'This is pretty made for TV, all of it. It's a deliberate strategy by Fox to keep people watching,' the Republican political operative said. This source also said Trump will continue to play to both sides. 'Trump recognizes the following Tucker has but he also knows he needs Fox. He's one for flattery, so he's going to weigh both sides of it, but we know he's ultimately going to do what he sees fit,' the operative said. Updated: 8:02 a.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
25-06-2025
- Politics
- The Hill
Tucker Carlson takes on Fox News
For years, Tucker Carlson made a name for himself on cable television and built a loyal following through attacks on Democrats, rival network news hosts, and other leading enemies of the right. Now the conservative political podcaster and social media personality is turning his fire on the company that helped build him up — and then terminated him three years ago after he served as a staple of its prime-time lineup: Fox News. Carlson, who opposed U.S. intervention in the Israeli-Iran war, has ripped Fox over its coverage of the conflict. 'The Murdochs really hate Trump,' Carlson said during a recent episode of his online commentary and interview show. 'I got fired in April of 2023. In May of 2023, they asked me to run for president against Trump and said they would back me.' His battle with his former employer underscores the MAGA fight for the president's ear. Anti-war MAGA figures like Carlson are worried that Fox News, which has been reliably supportive of calls to attack Iran, has had too much influence on President Trump, who last Saturday ordered strikes on three Iranian nuclear plans. Trump is known to watch media coverage of his decisionmaking as president closely and in real time, placing particular stake in how things 'play' on Fox, those around him say. The New York Times reported several top advisers to the president are irritated Carlson is no longer at Fox, fearing Trump was not hearing enough of a more isolationist argument when deciding whether to attack Iran's nuclear facilities. Carlson has made this argument explicit, saying Fox is engaging in pro-war 'propaganda' as part of an effort to 'scare old people' and benefit the 'warmongers' running the network. As Carlson hosted a conversation with Steve Bannon, a former top White House aide who also is known for taking shots at the Murdoch family, Carlson remarked it 'feels like Fox is playing a central role in the pro-war push.' 'They're doing the thing they always do,' he said. 'Turning up the propaganda hose to full blast and just knock elderly Fox viewers off their feet and make them submit to a new war.' Mark Levin, a weekend Fox News host and conservative talk radio firebrand, has been a target of Carlson's and has often pushed back. Levin, who often raises his voice and shakes as he speaks with passionate bombast, has advocated for more military action against Iran and called Carlson out by name over his previous positions on the Middle East when he worked as a host on the more liberal CNN and MSNBC. 'His preposterously hysterical warnings about what would happen if the president acted militarily against Iran's nuclear sites were illustrative of his unhinged bravado,' Levin wrote on social media of his former fellow Fox host. 'He's very proud of his depraved insanity.' Levin then called Carlson 'Qatarlson,' a play on Qatar, an ally of Iran. 'Qatarlson has been a liberal, a libertarian, an actual neo-con, a conservative, and today just a simple reprobate who has much in common with Bernie Sanders and Rashida Tlaib,' Levin said. Fox News did not comment on criticisms from Carlson, Bannon and others in recent days, though the network did send a press release on Tuesday celebrating its industry-leading ratings during the U.S. military strike on Iran. Carlson has turned some of his criticism on Trump himself, surprising many in media and political circles when he blasted the president as 'complicit' in the escalating violence in the Middle East. Those comments earned the commentator a rare rebuke from the president, who called him 'kooky' in a social media post last week. Later, Trump told reporters he had spoken to Carlson by phone and the two had reconciled. 'DJT and Tucker are good,' one source with knowledge of the dynamic told The Hill this week. 'And this thing getting wrapped up so quickly basically stopped a major civil war on the right.' But the war between Carlson and Fox appears far from over. 'All of this is deranged,' Carlson said again this week after playing for his online audience clips from Fox hosts and guests warning about the dangers of Iran obtaining nuclear weapons and advocating for regime change in Tehran. 'These are all people who hate Trump,' he said of GOP Sens. Lindsey Graham (S.C.), Ted Cruz (Texas) and others featured in the montage, all of whom see themselves as allies of the president. Carlson earned a flurry of headlines and even some rare praise from liberals last week for an interview he conducted with Cruz days earlier questioning the lawmaker on the merits of U.S. involvement in the Middle East and quizzing him on basic facts about Iran. The two battled when Cruz — who has made regular appearances on Fox in recent weeks to advocate for a stronger U.S. posture toward Iran, primarily on pundit Sean Hannity's prime-time program — acknowledged he did not know the population of Iran. Some observers say Carlson is also playing a game to his own benefit. 'Tucker Carlson is doing what he does best, which is playing the role of Tucker Carlson,' said Peter Loge, a professor of politics and communications at George Washington University. 'If he isn't outraged or shouting at people in power, he isn't doing his job. Biting hands is how Tucker Carlson pays the bills.' If Fox News's coverage leans pro-Trump and approves of his decision to launch strikes at Iran, that is also a conscious choice by the network, one GOP political operative said. 'This is pretty made for TV, all of it. It's a deliberate strategy by Fox to keep people watching,' the Republican political operative said. This source also said Trump will continue to play to both sides. 'Trump recognizes the following Tucker has but he also knows he needs Fox. He's one for flattery, so he's going to weigh both sides of it, but we know he's ultimately going to do what he sees fit,' the operative said.
