1990: Chlorofluorocarbons (CFCs) are banned to protect the ozone layer by the London Amendment to the Montreal Protocol. It stipulated that CFCs be phased out by 2000 in developed countries and by 2010 in developing countries. 
The liturgical feast in honour of the martyrdom in Rome of the apostles Saint Peter and Saint Paul is observed today.

IN SEARCH OF QUINTESSENTIAL SOUTH AFRICAN CUISINE

Much as cuisine in South African boasts influences from across the world, the fact is there is no typifying food to identify sustenance as South African. But that may change as a new generation of cooks and chefs looks for inspiration from times gone past. Here’s the link.

MONARCH CALLS FOR DONATIONS TO SAVE INGONYAMA TRUST

King Goodwill Zwelithini has asked all Zulus to increase their donations — from ZAR5 to at least ZAR15 — to create a fund to fight off the government’s move to scrap the controversial Ingonyama Trust and transfer the land to local municipalities. The money will be used to mount a legal challenge and sponsor marches and pickets in the fight against the government. The king will unveil more activities on Wednesday. The king has criticised the government’s plan and demanded that it keep its hands off land under the trust and land under other traditional leaders. (BDLive)

UNION IN BID TO MUZZLE JOOSTE’S DURBAN JULY MOUNTS

The Public Servants Association of South Africa has asked the main sponsor of the Durban July, Vodacom, to ensure that none of the horses linked to Markus Jooste, former CEO of Steinhoff International Holdings NV, run in the event. The Vodacom Durban July is scheduled to take place on July 7. (Bloomberg)

CONSUMERS UNDER THE COSH AS TAKE HOME PAY SHRINKS

South Africa's take-home pay levels declined dramatically in May – and are expected to remain under pressure until July when adjustments to public sector wages are taken into account, according to BankservAfrica's latest Take-home Pay Index. The take-home pay data suggests employees have to carry the burden of a shrinking economy, while private pensions bolster consumer spending, BankServAfrica said in a statement. The average gross salary in May 2018 was ZAR14 290 in current terms. Net take-home pay was ZAR10 010. But when the gross salary is changed to constant 2016 money - to make comparison easier - it decreased to ZAR13 621, some ZAR290 less than in April 2018. The current typical wage increased by 2.8%, but after taking inflation into account, declined by 1.5%, BankservAfrica said. (Fin24)

ZUMA’S HANDPRINT ALL OVER SARS DEMISE

Former president Jacob Zuma was identified as one of the actors who had enabled the dismantling of the South African Revenue Service (SARS), along with suspended commissioner Tom Moyane, at the Nugent hearings yesterday. Former deputy commissioner Ivan Pillay alleged that Zuma had instructed the State Security Agency to investigate SARS, due to his suspicion that the agency had employees who were "campaigning for an alternative ANC president". Zuma appointed Moyane to head the tax agency towards the end of 2014 and the new SARS commissioner was widely seen as being close to Zuma and in particular, his son Duduzane. SARS was one of the government entities central to the "state capture" project, which culminated in an attempt to capture the Treasury by replacing minister Nhlanhla Nene in 2015 and replacing him with little-known MP Des van Rooyen. (BDLive)

RADEBE WAVES GREEN FLAG AT BRICS MEETING

Minister of energy Jeff Radebe proposed closer cooperation between BRICS countries on energy when he opened the third BRICS meeting of Energy Ministers in Johannesburg yesterday. Radebe noted that BRICS countries – Brazil, Russia, India, China and South Africa – had already agreed to increase co-operation, particularly in the field of clean energy. The countries also agreed to increase cooperation in the joint development and sharing of energy efficient and cleaner energy technologies. Radebe also proposed that a committee be established to advance BRICS mutual energy activities, and the countries pursue closer cooperation via already-established channels such as the BRICS Business Council and the New Development Bank. (Fin24)

EXXARO KEEPS FAITH IN COAL

Coal and heavy-minerals miner Exxaro Resources has a bullish outlook for global coal demand for the rest of the year, despite recent volatility due to US-China trade conflict. Strong economic activity during the first half of 2018 remained supportive of commodities, with the global demand for coal expected to continue to outstrip supply, Exxaro said in a pre-close message yesterday. Despite the geopolitical tension and supply-side reform initiatives in China, Exxaro expects a broadly balanced market and sustainable iron ore prices in 2018, with Chinese steel production having remained strong during the past six months. (BDLive)

SHAREHOLDERS TAKE AIM AT SIBANYE’S SAFETY RECORD

Sibanye-Stillwater’s share price has plummeted more than 75% in the past 16 months and the troubled miner now faces potential class action from a number of US law firms. US-based law firm Bernstein Liebhard announced yesterday that it had filed a securities class action lawsuit on behalf of those who had purchased or acquired the securities of Sibanye Gold Limited (the legal name of Sibanye-Stillwater) between April 7 2017 and Tuesday this week. Over this period the company’s share price dropped from ZAR34 a share to ZAR8.33. The share was particularly hit on Tuesday when yet another employee died at a Sibanye-Stillwater mine, bringing the number of fatalities at the company to 21 in 2018. (BDLive)

MANYI’S  NEW AGE LOSES IT VOICE

Afro Voice, the newspaper formerly known as The New Age, is set to close in July, after its re-branding failed. The paper and news network ANN7 were bought by Mzwanele Manyi last year from the Gupta family’s Oakbay Holdings. Manyi changed ANN7’s name to Afro Worldview and re-launched the paper as Afro Voice, saying its content would include more African news than other publications in SA. Staff were told late on Thursday afternoon, that the paper would shut down at the end of June but that they would be paid salaries for July even though no newspaper production would occur. (BDLive)

HOLOMISA’S PIC LETTER LANDS HIM IN TROUBLE  

Black-owned investment group Lebashe plans to sue United Democratic Movement (UDM) leader Bantu Holomisa for what it called a "defamatory" and "malicious" open letter he wrote to the presidency. In the letter sent on Tuesday, Holomisa accused Lebashe and black economic empowerment infrastructure investment company Harith General Partners of being "in bed" with the Public Investment Corporation’s owerful CEO, Dan Matjila, to benefit from funding deals Matjila would swing its way. "We feel it’s horribly unfair what he’s done and it’s quite damaging to us, especially when you’re trying to build a financial services business where you need absolute credibility in the marketplace," said Lebashe executive director Warren Wheatley. He said the only funding Lebashe received from the PIC was to buy a block of Capitec shares in 2015, held by the PIC, a chunk of which it had already repaid. The PIC, said Lebashe, accounted for only 20% of its total funding, alongside other financial institutions. (BDLive)

SPUR HAS AN APPETITE FOR COALGRILL

Steakhouse franchise restaurant chain Spur Corporation said yesterday it would expand its restaurant portfolio with the acquisition of a 51% stake in fast-growing Nikos Coalgrill Greek. Spur would acquire the shareholding from founding family members Peter, Nicolette and Nicholas Triandafillou and Pano Economou, who would retain the balance of the shareholding and continue to manage the business with the support of the group’s franchising expertise. Nikos Coalgrill Greek currently operates six franchised restaurants, with a further four outlets confirmed to open in the coming months. Nikos Coalgrill Greek will be the eighth restaurant brand in Spur's portfolio after Spur Steak Ranches, Panarottis Pizza Pasta, John Dory’s, The Hussar Grill, RocoMamas, Casa Bella and Spur Grill And Go. (ANA)

WOOLIES WIELDS THE AXE SOME MORE DOWN UNDER ​

Woolworths’s ailing Australian department store chain, the value of which has already been slashed by more than ZAR7 billion, has wielded the axe once again. David Jones, which was bought by the high-end retailer for more than ZAR20 billion four years ago, said yesterday it had dismissed its MD for clothing and general merchandise, David Collins, just a month after Woolworths axed its CEO in that country, John Dixon. David Jones said it had also cut another 15 jobs at its head office, in a bid to cut costs and stabilise the business. Woolworths recently wrote down the value of David Jones by A$713 million (about ZAR7.2 billion). (BDLive)

TOUGH TIMES AHEAD FOR EMERGING MARKETS

Emerging-market currencies are looking uglier by the day as a week-long slump in China’s Yuan saps confidence in peers around the world. India’s Rupee is trading at an all-time low, South Africa’s Rand is on the cusp of ZAR14 to the US Dollar for the first time since November and the Indonesian Rupiah is at its weakest level since 2015, on the eve of a key central bank meeting that now looks likely to result in another hike in rates. The MSCI index of developing-nation stocks is heading toward a bear market, retreating for a fourth straight day, as the Shanghai Composite Index closed at a one-year low. Average yield spreads of sovereign bonds over US debt are near a two-year high. The downdraft leaves emerging markets poised for their worst quarter since 2015, and now the rout that had been largely limited to the most vulnerable economies is starting to ensnare larger markets. (Bloomberg)

LA ROSE WEDDING, FUNCTION AND EVENT VENUE

has been operating successfully since June 2015,

offering an exclusive country venue for hire.

 
Situated in the Natal Midlands, off the Hilton College Road we are conveniently close to all amenities, whilst being in the calm of the countryside. Surrounded by spacious rolling lawns, we have a wonderful established garden with views across the uMngeni Valley and Drakensberg range on the horizon.
 
Diverse options are available – we mainly offer DIY/self-catering - however we will assist you on your journey with lists of accommodation and preferred suppliers to create the perfect package to suit your budget. We are also available to plan and create a complete package if you so require. 
 
We host corporate events, team-building, staff year ends, weddings and birthday parties to name a few. 
 
Suitable for groups of 30 through to 100, although provision can be made for larger groups as well.
 

CONTACT US FOR YOUR NEXT CORPORATE EVENT, TEAM BUILD, WEDDING OR BIRTHDAY CELEBRATION

Email: info@larosedesvents.co.za Cell: 082 445 6441 / 072 456 1097

Website: www.larosedesvents.co.za