SA braces for big fuel-price hike
While President Cyril Ramaphosa has indicated that the government may provide some relief to cushion the impact of fuel price increases, the South African economy is braced for the imminent announcement. Reports suggest petrol will likely go up about R5 a litre, and diesel double that. The Department of Mineral and Petroleum Resources has said there is no need for “panic” buying as South Africa’s fuel supply is sufficient. Local logistical difficulties, and possibly pre-price-rise stockpiling by some outlets, are thought to be behind reports of garages putting up notices saying they were out of fuel.
Iran war objectives “definitely beyond the halfway point” – Netanyahu
Israeli Prime Minister Benjamin Netanyahu says the war against Iran launched by Israel and the United States just over a month ago is “definitely beyond the halfway point” in terms of mission objectives (but not time). In an interview with America’s Newsmax channel, Netanyahu said the war had killed “thousands” of members of Iran’s Revolutionary Guards and that his country and the US were “close to finishing the arms industry” – “wiping out… entire plants and the nuclear programme itself”. He repeated an earlier statement that regime change was not the goal in Iran, but was confident that the Islamic Republic would “collapse internally”.
Trump aides say US willing to end war even if Strait of Hormuz not fully open – WSJ
The Wall Street Journal reports that President Donald Trump has told aides that he would be “willing to end the U.S. military campaign against Iran even if the Strait of Hormuz remains largely closed”. The newspaper says the US president and his advisers calculated that a mission to reopen the chokepoint “would push the conflict beyond his timeline of four to six weeks”. In the meantime, the emphasis would be on pressuring Tehran diplomatically “to resume the free flow of trade”. Attacks have continued across the region, with an Iranian drone setting a Kuwaiti tanker on fire in Dubai. The Al Salmi tanker was fully loaded with two million barrels of oil, and was bound for China. No oil leaked, and no injuries were reported.
NATO’s “very disappointing” lack of support prompts reassessment of relationship – Rubio
Secretary of State Marco Rubio says the United States may be compelled to reassess its relationship with NATO in light of what he said was the military alliance’s “very disappointing” position over the war with Iran. He criticised NATO members for denying the US access to military bases. Earlier, US President Donald Trump referred to NATO partners as “cowards” and the alliance as a “paper tiger”.
Power-tariff rise could force SA smelter to consider moving abroad
A 9% power-tariff hike this week has prompted Ferroglobe to begin preparations for halting its Witbank smelter, with the company warning that “a prolonged and unprecedented” escalation in electricity prices could compel it to relocate its production away from South Africa to an economy where conditions are “more supportive” of industrial activity. Ferroglobe said: “Unless the proposed reduced electricity tariffs are extended to its operations before 1 April 2026, it will have no option but to halt production in SA.”
Sources: eNCA, BBC, The Wall Street Journal, Bloomberg, News24