South African rand weakens as oil surge sparks inflation fears
The rand fell sharply at the start of the week as soaring global oil prices rattled financial markets and raised concerns about rising inflation. Investors pulled back from riskier assets such as emerging-market currencies amid fears that higher energy costs could slow global growth. The rand’s decline reflects broader anxiety about the economic fallout from escalating geopolitical tensions affecting oil supply.
Holomisa demands answers over R500m military vehicle tender
Deputy Defence Minister and UDM leader Bantu Holomisa has given acting defence secretary Thobekile Gamede two weeks to explain a controversial R500 million tender for military vehicles intended for border protection. The procurement process has come under scrutiny amid concerns about how the contract was evaluated and awarded. Holomisa said the Department of Defence must provide clear answers to ensure transparency and accountability in military spending.
Mojtaba Khamenei emerges as powerful figure in Iran’s leadership transition
Mojtaba Khamenei, the son of Iran’s late Supreme Leader Ali Khamenei, has emerged as a central figure in the country’s leadership transition amid ongoing regional conflict. The 56-year-old cleric has long wielded influence behind the scenes and maintains close ties with Iran’s powerful Revolutionary Guard. Analysts say his rise signals the continued dominance of hardline factions in Tehran and could shape Iran’s domestic and foreign policy direction.
Western Cape remains epicentre of gang violence despite crime dip
The Western Cape continues to experience the highest levels of gang-related violence in South Africa, even though some crime categories have recently declined. Authorities and analysts say organised criminal groups remain deeply entrenched in communities, particularly on the Cape Flats. Persistent socio-economic challenges and limited policing resources have made it difficult to dismantle gang networks despite targeted interventions.
Colombians vote for new Congress ahead of presidential election
Colombian voters have gone to the polls to elect a new Congress and select candidates for the upcoming presidential election in May. The vote acts as a key test of political strength for major coalitions and could reshape the country’s political landscape. More than 3,000 candidates are competing for seats in the Senate and House as parties position themselves for the national vote.
Sources: Reuters, CityPress, The Guardian, Daily Maverick, AP