Latest news with #Kruger
The Citizen
4 hours ago
- Business
- The Citizen
June salaries stabilised after months of decline, but adverse external factors remain
If you earn a salary you will be glad to hear that there is some relief coming, but the dark cloud of US tariffs still hovers. Salaries stabilised in June after three months of decline, supported by a favourable inflation environment and an anticipated interest rate cut on Thursday. Salary earners may see some relief from financial pressures, but external factors are still expected to weigh on future earnings and unemployment levels. Take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June after three months of moderation. 'The nominal average take-home pay was R17 310 in June, showing a marginal 0.1% decline on May's R17 325. 'However, this was still notably above the R15 514 level of a year ago,' Shergeran Naidoo, BankservAfrica's head of stakeholder engagements, says. However, Elize Kruger, an independent economist, says while the first six months of BTPI data signals 2025 will, on average, be a good salary year, the economic outlook has deteriorated in recent months. ALSO READ: Take-home pay slides for third month with grim job opportunities and earnings Significant moderation in inflation helped salaries Real take-home pay, adjusted for inflation, moderated marginally by 0.2% to R14 804 in June, compared to R14 827 in May, but was still notably up on year-ago levels. 'The significant moderation in consumer inflation during 2024 had a positive impact on the purchasing power of salary earners and the scenario is continuing into 2025, with the latest headline inflation at only 3% for June,' Kruger says. After a challenging few years for salary earners, due to the sluggish local economy and the elevated inflation rate, 2024 turned out to be the best year since 2015, with an average real salary increase of 1.5%. 'With inflation forecast to average 3.5% in 2025 unlike the 4.4% in 2024 and the broader industry suggesting an average salary increase above 5%, 2025 will be the second consecutive year of a real increase in earnings.' Kruger says in addition to supporting salary earners' consumption expenditure and softening the impact of global headwinds on the local economy, the favourable inflation environment created ample scope for the South African Reserve Bank (Sarb) to cut interest rates further. 'Carpe Diem Research Services forecasts a 25 basis points cut at the Monetary Policy Committee (MPC) meeting tomorrow. This is likely to be the final cut in the current downward cycle.' ALSO READ: Salaries decreased by 2% in April, but higher than a year ago 2025 volatile but real consumption held up well Despite 2025 turning out to be a volatile year so far, real consumption expenditure held up well, which is an encouraging sign for an economy heavily reliant on consumer spending. Even with confidence levels slipping in the first quarter, the level of real final consumption expenditure by households was 2.8% higher compared to a year earlier. Early indications from Statistics SA indicate that the performance continued in the second quarter, with real retail sales in the first five months of the year up by 4.3%. Uncertainty and low confidence could affect employment and salaries However, Kruger points out that the general economic environment deteriorated in recent months, with downward revisions to growth prospects locally and globally and high levels of uncertainty, fuelling low confidence and a pause on investment decisions. ALSO READ: Decrease in take-home pay reflection of mounting economic pressure 'This could affect employment levels and earnings in the coming months, in an economy with an already high unemployment rate of 32.9%. In addition, tensions between the US and South Africa, coupled with uncertainty over the tariff landscape beyond 1 August, present a growing concern for the economy and its trade outlook. 'As such, it remains of utmost importance that the South African government prioritise its diplomatic engagement with US authorities to negotiate a favourable trade regime to avert job losses in sectors such as automotive and agriculture, which would otherwise face severe impacts,' Kruger says.
West Australian
5 days ago
- Entertainment
- West Australian
Best dressed: Logies Red Carpet host Sonia Kruger rates her favourite Logies fashion looks from over the years
Sonia Kruger has been to so many TV Week Logie Awards ceremonies over the years that she's lost count. 'I've been trying to work out which one was my first, and I am pretty sure I was working on Today Tonight, and I started there in 2000 — I remember I was wearing a red pantsuit,' she says. Fast forward 25 years — and several considerably more glamorous outfits later — and Kruger, who is up for the prestigious Gold Logie again this year, is still knocking it out of the park with her spectacular red carpet choices. 'I like to say, it takes a total of six people to build (me) these days,' she says of her 'glam squad', which includes stylist Natalia De Martin , make-up artist Simone Forte and hair stylist Norman Gonzales 'It would be awesome (to) give them a shoutout, actually, because I don't think they ever really get the recognition they deserve — they're the ones that make me look good.' Sonia's team have been coordinating her looks and designing hair and make-up choices for the Logies for at least a decade, with de Martin meticulously planning the Dancing With The Stars and The Voice host's red carpet look months in advance. 'Once the announcement is made, Natalia gets into planning,' she explains. 'She has this incredible memory for things I have worn, and she likes to make sure that every year (what I wear) is slightly different, and that there's something new and fresh about the dress. This year, Kruger will wear a gown designed by designer Alin Le'Kal, and she has another dress lined up to wear to the event inside. '(Natalia) has had a design concept in mind, and she's working with this on a particular dress, which I personally think is one of the most beautiful (I've worn) — it's by Alin Le'Kal,' Kruger explains. 'It really is so gorgeous.' Despite the fact she's attended dozens of award ceremonies, Kruger still gets excited pre-Logies. 'The getting-ready part is always the best part,' she admits, adding that daughter Maggie, who loves fashion like her Mum, loves watching her mum transform for the event. This year Kruger, who won a Gold Logie in 2023, will once again host the Red Carpet Show with co-host Dr Chris Brown, before heading inside to await the results of her award nominations — with her sister as plus-one. 'I think we have spent more time discussing her outfit for the Logies than mine!' she laughs. 'She and I look very similar, so I think we're going to confuse the cameraman when he cuts to our table, because we're only a year apart and we look exactly the same.' As for her Gold Logie chances this year, on her fourth nomination? 'Well, somebody told me my betting odds were pretty bad,' she says. 'So I'm just looking forward to having a good night. 'Maybe if I win I will send (my sister) up to do an acceptance speech — she'd probably do a better job than me!' We take a stroll down the ruby rug with Logies Red Carpet host Sonia Kruger. Dolce and Gabbana, 2002 'I think I was sucked in by the label. But it was made from jersey, so it was super comfortable. I look like I probably belong on a Real Housewives franchise or as a contestant on MAFS — it's really got that vibe to it. But it was 25 years ago, so I was a bit younger and a bit wilder…' Alex Perry, 2006 'That dress I absolutely loved — it's one my favorite dresses from The Logies. I remember (Alex) being quite reluctant to make it in that green, but I was really insistent. Turns out he was (against it) because it was his old school uniform colour…! He made it for me, and it fitted like a glove.' J'Aton, 2007 'That one won me 'Best Dressed' on the night. It was made from amazing Swarovski chrystal fabric, and it's still one of my favourite dresses ever. I would wear this dress again if I had the chance. Again, it was super comfortable, and just really, really stunning — and the detail was incredible.' Alex Perry, 2008 'That one was made from this really beautiful matte velvet. It wasn't quite as tight as Alex likes his dresses to be, and he was kind of annoyed about it, but I felt really comfortable in it, which was great. And I loved how sophisticated it was.' Alex Perry, 2009 'Alex is a dear, dear friend of mine…and I remember saying to him, 'I just want something simple and comfortable and easy to get around in…and he made me this! It was ruffles, and it was the kind of thing that Maggie would have loved, aged five. I made a lot of Finding Nemo jokes about it. It was a LOT.' J'Aton, 2010 'This one was really soft, and this beautiful olive green colour. I loved that dress, because it was so different from everything else I had worn. We were doing a lot of structured gowns with Dancing With The Stars at the time, and I loved that it was soft, and had Grecian kind of vibes; very mute and natural.' Hervé Léger, 2016 'I had just had Maggie, and I was going through a 'stretchy dress' phase after having her. I loved this one because it was so fun, but it was also super comfortable to wear. If you're comfortable in what you are wearing, you feel good, and you just have a much better time.' Balmain, 2017 'We went for an international designer this particular year. I can't remember exactly why, I think because it had a little bit of stretch in it? It had this drapey sort of cape thing going on, which was very new at the time. And… was it pants?' Albina Dyla, 2022 'I remember Fashion Critical asked how many Fraggles had to die for this dress, which was hilarious. The funny thing is that the feathers look so soft and beautiful, but it was like wearing a bed of needles, because at the end of every feather is a quill, and they were really pointy!' Stephen Kalil& Sean Rentero (event dress), 2023 'This was an unusual dress for me to wear, because it was really pretty and soft and flowy — I generally tend to go for things that are a bit more edgy or structured. But it was such a beautiful colour, and it looked lovely against the red carpet and it was such a contrast to the dress I changed into for the ceremony, which was this rainbow glow mesh.' FatimaK Designs, 2024 'That was very long, and I did end up wearing a different dress inside, which was this beautiful rose gold, one-shoulder dress, which was comfortable to sit down in. Sonia Kruger and Dr Chris Brown host the 65th Annual TV WEEK Logies Red Carpet Show from 7pm on Sunday August 3, with the ceremony starting at 7.30pm on Seven and 7Plus. Votes for this year's Logies are open:
Perth Now
5 days ago
- Entertainment
- Perth Now
Sonia Kruger rates her best and worst Logies fashion
Sonia Kruger has been to so many TV Week Logie Awards ceremonies over the years that she's lost count. 'I've been trying to work out which one was my first, and I am pretty sure I was working on Today Tonight, and I started there in 2000 — I remember I was wearing a red pantsuit,' she says. Fast forward 25 years — and several considerably more glamorous outfits later — and Kruger, who is up for the prestigious Gold Logie again this year, is still knocking it out of the park with her spectacular red carpet choices. 'I like to say, it takes a total of six people to build (me) these days,' she says of her 'glam squad', which includes stylist Natalia De Martin, make-up artist Simone Forte and hair stylist Norman Gonzales 'It would be awesome (to) give them a shoutout, actually, because I don't think they ever really get the recognition they deserve — they're the ones that make me look good.' Sonia's 'Best in the Business' Glam Squad is (L-R) Norman Gonzales, Simone Forte and Natalia De Martin. Credit: Supplied Sonia's team have been coordinating her looks and designing hair and make-up choices for the Logies for at least a decade, with de Martin meticulously planning the Dancing With The Stars and The Voice host's red carpet look months in advance. 'Once the announcement is made, Natalia gets into planning,' she explains. 'She has this incredible memory for things I have worn, and she likes to make sure that every year (what I wear) is slightly different, and that there's something new and fresh about the dress. This year, Kruger will wear a gown designed by designer Alin Le'Kal, and she has another dress lined up to wear to the event inside. '(Natalia) has had a design concept in mind, and she's working with this on a particular dress, which I personally think is one of the most beautiful (I've worn) — it's by Alin Le'Kal,' Kruger explains. Sonia with Simone and Natalia at last year's Logies. Credit: Supplied 'It really is so gorgeous.' Despite the fact she's attended dozens of award ceremonies, Kruger still gets excited pre-Logies. 'The getting-ready part is always the best part,' she admits, adding that daughter Maggie, who loves fashion like her Mum, loves watching her mum transform for the event. Essential pre-Red Carpet prep. Credit: Supplied This year Kruger, who won a Gold Logie in 2023, will once again host the Red Carpet Show with co-host Dr Chris Brown, before heading inside to await the results of her award nominations — with her sister as plus-one. 'I think we have spent more time discussing her outfit for the Logies than mine!' she laughs. 'She and I look very similar, so I think we're going to confuse the cameraman when he cuts to our table, because we're only a year apart and we look exactly the same.' Sonia's Glam Squad assemble. Credit: Supplied As for her Gold Logie chances this year, on her fourth nomination? 'Well, somebody told me my betting odds were pretty bad,' she says. 'So I'm just looking forward to having a good night. 'Maybe if I win I will send (my sister) up to do an acceptance speech — she'd probably do a better job than me!' We take a stroll down the ruby rug with Logies Red Carpet host Sonia Kruger. Dolce and Gabbana, 2002 Dolce and Gabbana (tiger-print dress), 2002 Credit: Patrick Riviere / Getty Images 'I think I was sucked in by the label. But it was made from jersey, so it was super comfortable. I look like I probably belong on a Real Housewives franchise or as a contestant on MAFS — it's really got that vibe to it. But it was 25 years ago, so I was a bit younger and a bit wilder…' Alex Perry, 2006 Alex Perry (strapless green silk dress), 2006 Credit: Kristian Dowling / Getty Images 'That dress I absolutely loved — it's one my favorite dresses from The Logies. I remember (Alex) being quite reluctant to make it in that green, but I was really insistent. Turns out he was (against it) because it was his old school uniform colour…! He made it for me, and it fitted like a glove.' J'Aton, 2007 J'Aton, (white crystal dress), 2007 Credit: David Hahn - Staff 'That one won me 'Best Dressed' on the night. It was made from amazing Swarovski chrystal fabric, and it's still one of my favourite dresses ever. I would wear this dress again if I had the chance. Again, it was super comfortable, and just really, really stunning — and the detail was incredible.' Alex Perry, 2008 Alex Perry (Black velvet one shoulder), 2008 Credit: AAPIMAGE 'That one was made from this really beautiful matte velvet. It wasn't quite as tight as Alex likes his dresses to be, and he was kind of annoyed about it, but I felt really comfortable in it, which was great. And I loved how sophisticated it was.' Alex Perry, 2009 Alex Perry (aqua ruffle dress), 2009 Credit: AAPIMAGE 'Alex is a dear, dear friend of mine…and I remember saying to him, 'I just want something simple and comfortable and easy to get around in…and he made me this! It was ruffles, and it was the kind of thing that Maggie would have loved, aged five. I made a lot of Finding Nemo jokes about it. It was a LOT.' J'Aton, 2010 J'Aton (pistachio draped dress), 2010 Credit: AAPIMAGE 'This one was really soft, and this beautiful olive green colour. I loved that dress, because it was so different from everything else I had worn. We were doing a lot of structured gowns with Dancing With The Stars at the time, and I loved that it was soft, and had Grecian kind of vibes; very mute and natural.' Hervé Léger, 2016 Hervé Léger, (gold, fringed dress) 2016 Credit: AAPIMAGE 'I had just had Maggie, and I was going through a 'stretchy dress' phase after having her. I loved this one because it was so fun, but it was also super comfortable to wear. If you're comfortable in what you are wearing, you feel good, and you just have a much better time.' Balmain, 2017 Balmain (beige dress with high neck), 2017 Credit: AAPIMAGE 'We went for an international designer this particular year. I can't remember exactly why, I think because it had a little bit of stretch in it? It had this drapey sort of cape thing going on, which was very new at the time. And… was it pants?' Albina Dyla, 2022 Albina Dyla (fraggle dress with mirrors up top), 2022 Credit: Instagram / Instagram 'I remember Fashion Critical asked how many Fraggles had to die for this dress, which was hilarious. The funny thing is that the feathers look so soft and beautiful, but it was like wearing a bed of needles, because at the end of every feather is a quill, and they were really pointy!' Stephen Kalil& Sean Rentero (event dress), 2023 Stephen Kalil, 2023 & Sean Rentero Credit: Hanna Lassen / Getty Images for TV WEEK Logie A 'This was an unusual dress for me to wear, because it was really pretty and soft and flowy — I generally tend to go for things that are a bit more edgy or structured. But it was such a beautiful colour, and it looked lovely against the red carpet and it was such a contrast to the dress I changed into for the ceremony, which was this rainbow glow mesh.' FatimaK Designs, 2024 FatimaK Designs, 2024 Credit: Sam Tabone / Getty Images 'That was very long, and I did end up wearing a different dress inside, which was this beautiful rose gold, one-shoulder dress, which was comfortable to sit down in. Sonia Kruger and Dr Chris Brown host the 65th Annual TV WEEK Logies Red Carpet Show from 7pm on Sunday August 3, with the ceremony starting at 7.30pm on Seven and 7Plus. Votes for this year's Logies are open:
TimesLIVE
5 days ago
- Business
- TimesLIVE
Ithala court battle rages on
Three judges in KwaZulu-Natal on Friday heard arguments which could determine the fate of Ithala SOC and about R2.6bn it holds through 'deposits' it took when it allegedly unlawfully operated as a bank. Ithala, a financial agency, held an exemption from the SA Reserve Bank prudential authority (PA) which entitled it to take deposits, many of which were South African Social Security Agency (Sassa) pensions. The exemption expired in December 2023. The PA has alleged the financial institution continued taking deposits up until January 2025. The PA appointed a repayment administrator (RA), Johan Kruger, to take control of Ithala and secure the deposits for repayment and redistribution. What followed was a flurry of litigation over his powers, including an application by the KwaZulu-Natal government seeking to review and set aside Kruger's appointment on the basis it was unlawful and an application by Kruger for the liquidation of the provincial government-owned entity which has been in existence for 40 years. At the heart of the dispute, which came before the full bench, sitting in the Durban high court on Friday, is an order granted in November last year by Pietermaritzburg high court judge Muzi Ncube, who ruled effectively Kruger had overstepped his powers by freezing all of Ithala's bank accounts, held at Absa Bank, not only those containing the deposits. He ordered Absa Bank to immediately unfreeze the accounts. In May this year, Ncube granted the PA and Kruger leave to appeal this ruling to the Supreme Court of Appeal (SCA). This would ordinarily have the effect of suspending the ruling. However, Ncube, at Ithala's behest, granted an order in terms of the Superior Courts Act that his ruling remain in force, notwithstanding the pending appeal. It is this order the PA and Kruger are seeking to set aside. Ithala is opposing the application, arguing if granted it will be the end of the agency. 'Ithala is not some pyramid scheme that will disappear with depositors' money, it is a government-backed business. 'They are asking the court to condone and enable their continued unlawful self help,' it argued in papers. Ncube ruled Kruger could not involve himself in the normal operations of Ithala, did not have operational and management control over the day-to-day operations and affirmed the board continued to hold management powers. He said pending the final outcome of the liquidation application, Ithala was entitled to continue conducting its non-deposit taking business, pay salaries and related expenses, rent for properties it was leasing and other bills. The PA and Kruger believe the order will be overturned by the SCA because Kruger was acting in terms of the Banks Act. In a written argument, the PA said Ncube, when granting the enforcement order, had failed to consider the 'irreparable harm that would be suffered by depositors, creditors and the public interest' and the probability of a 'run' on deposits. Such an order could only be granted in exceptional circumstances, they argued. 'The court failed to appreciate it was common cause that Ithala had co-mingled its operational bank accounts relating to employees' payroll, pensions, medical aid, disability insurance and the UIF and other operational expenses, and those accounts that were used for taking deposits. 'The court had also impermissibly relied on a non-existent guarantee issued by the minister of finance and contended it would insulate depositors from a run on deposits. 'The purported guarantee was unlawful as it was not issued in terms of the Public Finance Management Act.' Any harm to Ithala was due to its own unlawful conduct, the PA said. Kruger said not only was he entitled to take control of the funds to prevent their dissipation, he was required to by law. He said in spite of the lapse of the exemption notice, Ithala had repeatedly refused to give an undertaking that it would immediately cease taking deposits and he had been forced to approach the court to enforce this. 'It is patently clear, even on Ithala's own version, that until January 16 2025, it continued to receive deposits unlawfully and paid lip service to the demands made by the PA or the RA. 'It is also clear the reason for this is it would in all probability lead to the demise of Ithala. If they stopped their unlawful conduct, it would be the end of their banking services and the entity itself.' Kruger, in his written argument, said the PA had directed and demanded Ithala to repay more than R2.4bn within 14 business days. 'The response was the PA and RA were aware it is practically impossible for Ithala to repay the money because Ithala doesn't hold enough cash to pay more than R2.4bn. 'It argued no other bank holds liquid cash equivalents to repay its depositors within 14 days. 'The comparison to other banks is without merit. Ithala is not a bank and has not been authorised to conduct the business of a bank. It was directed in December 2023 to stop taking deposits. 'It is common cause two directives to repay have been issued by the PA, and Ithala has not repaid the deposits and is not in a position to do so. 'This led to the liquidation application. On the common cause facts, the liquidation is a foregone conclusion. It is commercially insolvent on its own version.' Ithala, in its written argument, said the PA and RA seemed to believe they could act contrary to the constitution, employment and other laws. 'They also believe they can unilaterally decide to halt the operations of a state-owned company and cancel all its contracts with its employees and service providers without a court order when there is pending litigation over the extent of their powers.' Ithala said the liquidation application had been brought as a matter of urgency with only one day's notice in January 2025. 'More than five months later, it has not been set down and is unlikely to be heard this year. So much for urgency. 'It is designed to destroy Ithala and bears no relation to the protection of depositors. 'They also want the court to disbelieve the minister of finance when he states publicity and repeatedly he will guarantee all deposits. They are driven by their desire to see Ithala fail.' Ithala said if it was forced to close its doors, its customers, who include poor Sassa grant recipients, will not be able to access their grants. The KwaZulu-Natal government, which is the sole shareholder of the Ithala Development Finance Corporation, has also entered the fray in support of Ithala. In its written argument it said Ncube had correctly found 'exceptional facts' to enforce his order because Ithala had been 'placed in limbo through the conduct of Kruger'.
The South African
17-07-2025
- Entertainment
- The South African
Animal sighting: Heron and eagle fight over fishing spot
Today's animal sighting video captures an incredible and rare moment in the wild, as a Goliath heron and a fish eagle fight over hunting territory. According to the Latest Sightings YouTube page, the footage was captured at Orpen Dam and shared by Latest Sightings – Kruger. FOR MORE ANIMAL SIGHTING VIDEOS, VISIT THE SOUTH AFRICAN WEBSITE Watch today's incredible video of a fish eagle battling for prime hunting territory. WATCH | Animal sighting: Leopard's incredible mid-air catch caught on Camera [Video] Keep up with The South African website for all the essential information you need! Enjoy a wide variety of exciting videos from news, business, lifestyle, travel, sport, viral videos, and lots more! Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
