GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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ANC WILL RETAIN PARLIAMENTARY MAJORITY: SA'S PRESIDENT. (PHOTO).

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 ANC will retain parliamentary majority: SA's president


South Africa's President Cyril Ramaphosa says ANC party will retain its parliamentary majority in May 2024 elections.


South Africa's President Cyril Ramaphosa has expressed confidence that the African National Congress (ANC) will retain its parliamentary majority in the May 29, 2024 elections, even as opinion polls show that the ruling party has lost its popularity.


"The party that I am leading, the African National Congress, is not going to lose its (parliamentary) majority on May 29," Ramaphosa told reporters on Sunday in Rwanda's capital Kigali, where he had attended the commemoration of the 1994 Rwandan genocide.


"Many South Africans still love the African National Congress. And I am brimming with confidence that we are going to do well in the elections. So, watch this space," he added.


A survey conducted by SABI Strategy Group in February 2024 shows that South Africa will likely have a coalition government after May polls, which will elect a new National Assembly. The new parliament will then choose the next president. 

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