A virtually unknown music promoter was given a three-year tender to supply SA Express with fuel worth R2.4 billion – but failed to deliver a single drop. This is despite a deal already being in place to receive fuel from South African Airways. SA Express confirmed that its current fuel supply deal with SAA came at an average cost of R45 million a month, thus the dodgy EML Energy deal meant the already troubled airline paid roughly R800 million more than SAA over the three years.
R1 Billion Crypto Scam Uncovered
The Hawks said Gauteng-based Bitcaw Trading Company, commonly known as BTC Global, was being investigated after more than 28,000 investors suffered losses in a cryptocurrency scam. The company is alleged to have targeted potential investors with promises of 2% interest per day, 14% a week and 50% per month. The Hawks said payments were initially made every Monday but suddenly stopped.
Court Ruling On Gupta Assets Expected Today
The Bloemfontein High Court on Monday will make a crucial ruling on the state’s successful freezing of R250-million in Gupta assets – and whether prosecutors had enough evidence to justify it. The Guptas’ attorney has confirmed that Varun Gupta, the only family member charged so far in relation to the alleged scam, is back in the country for the ruling. Varun Gupta successfully applied for the right to travel to Dubai for a traditional ceremony. He returned to South Africa over the weekend.
MTN & Vodacom Fight Over Transnet Tender
Mobile network giants MTN and Vodacom are entangled in a fresh row over a multimillion-rand cell phone and data tender at state-owned freight and rail transport company Transnet. MTN will square off with over Transnet following its refusal to port (switch networks) nearly 13 400 sim cards to Vodacom. The matter is heading to the South Gauteng High Court where MTN will argue that its contract with Transnet is still valid and binding as there is a clause that prevents the state-owned entity from procuring the service from a competitor.
SARS Releases New Customs Regulations
The South African Revenue Services has released a Customs Requirements for South Africa statement which informs South African travellers about the items that they have to declare when leaving and returning to the country. According to the statement, South Africans that are travelling abroad are not required to declare their personal items when leaving or returning to the country, in terms of customs legislation. In the legislation, personal items are described as personal laptops, cameras or iPad that are are a part of the travellers luggage when they are leaving the country.
Brazil Truckers Strike Causes Economic Havoc
Sao Paulo, a megacity that’s home to more than 12 million people, declared a state of emergency and warned that shortages caused by the strike may cause a state of public calamity, while export group ABPA said a billion chickens and 20 million swines may die in coming days due to a lack of feed. President Michel Temer said he’s called for the deployment of national security forces to unblock roads and asked governors to do the same. Still, truckers group Abcam – which didn’t take the government’s deal – said the number of highway blockades rose to 521 on Friday from 402 the day prior. Local media reported that drivers continued protesting in at least 14 states. Abcam represents about 700 000 of roughly one million self-employed truck drivers.
Currencies: Bcoin R89 830,35 . Ether 7,117.874 . R/USD12.52 . R/GBP16.65 . R/EUR14.57
The Turk Report : My Perspective 