Latest news with #Trade
IOL News
14 hours ago
- Business
- IOL News
Ithuba Lottery confirms 12-month temporary extension of its operating licence
In a play on its "Phanda Phusha Play" slogan, Ithuba Lottery has introduced "No Pause, Just Play" as it confirmed a 12-month temporary extension of its operating licence Image: File In a play on its "Phanda Phusha Play" slogan, Ithuba Lottery has introduced "No Pause, Just Play" as it confirmed a 12-month temporary extension of its operating licence, while the incumbent licence holder, Sizekhaya, prepares to put systems in place. In a statement yesterday, Ithuba said that after careful consideration and prioritising the interests of South Africans, it had reached an agreement with the Minister of Trade, Industry and Competition and the National Lotteries Commission to operate the South African National Lottery, ensuring its ongoing contribution to good causes. "As a proudly 100% black-owned South African operator, Ithuba remains steadfast in its commitment to operating the National Lottery with integrity, transparency, and for the benefit of South Africans. Participants can rest assured that all games, draws, and prize payouts will continue as normal – with the same exciting jackpots and seamless service they are accustomed to," spokesperson Michelle van Trotsenburg said. This follows Trade, Industry and Competition Minister Parks Tau's decision to award the 12-month extension to Ithuba to ensure ticket sales continued from June 1. He expressed concern with the High Court judgment of May 21, 2025, which found that the Request for Proposal for a Temporary Licence was invalid, and he has appealed this judgment. However, in its judgment, the Court accepted that it is in the public interest for the National Lottery to continue operating to raise revenues for worthy causes, despite its dissatisfaction with the RFP process. Tau added that another court affirmed his power to appoint a Temporary Licensee in its judgment of May 30, 2025, stating: 'It would be surprising to the Court if the Minister were unable to appoint an operator on a temporary basis for a whole year. This is especially so because the Minister has more latitude in appointing a temporary operator, as opposed to a fully-licensed operator.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ "It is in the context of both the 21 and 30 May 2025 judgments that I received and accepted the advice from the Commission to appoint a temporary licence operator on an urgent basis. I am pleased that National Lottery operations will not be interrupted during the transition from the Third to the Fourth Licence operations and that worthy causes will continue to receive support," Tau said. The Minister's decision comes as Pretoria High Court Judge Omphemetse Mooki dismissed the National Lottery Commission's application to vary an order made by the court on May 21 to extend the temporary operating licence to 12 months, as the court was not persuaded that a case had been made for extending the period of suspension of invalidity. In arguments leading to the award of the licence to Sizekhaya, law firm Nortons Inc successfully represented the Wina Njalo Consortium in an urgent review of several decisions by Minister Tau regarding the awarding of the fourth national lottery licence. Judge Mooki noted that there was no substantive evidence that Ithuba Lottery would suffer a claimed loss of R51 million unless granted a temporary licence for a 12-month period. He further observed that Ithuba Lottery itself had not filed any affidavits in the matter, despite the application being premised on its position. BUSINESS REPORT Visit:
Mint
a day ago
- Business
- Mint
Goyal begins France, Italy visit to deepen trade ties; India looks to fast-track EU FTA, global alliances
New Delhi: Union commerce and industry minister Piyush Goyal began a three-day official visit to France on Sunday as part of a five-day European trip that will also take him to Italy. The focus of the visit is to strengthen India's economic ties with key European partners and push the ongoing India-EU free trade agreement (FTA) talks, the commerce ministry said in a statement on Sunday. The visit comes as India expands its global trade engagements through several bilateral and regional negotiations, while trying to position itself as a trusted partner in a rules-based global trading system, it said. Goyal's trip is seen as part of India's broader strategy to attract more investment, build technology partnerships and secure better access to European markets. Also read: India-US trade deal nears the finish line—final talks are set for early June In Paris, Goyal is scheduled to meet French ministers Eric Lombard (Economy) and Laurent Saint-Martin (Trade) to strengthen the Indo-French economic relationship, the ministry said. The discussions are expected to focus on trade facilitation, new investment opportunities and deeper cooperation in sectors such as green energy, infrastructure and innovation. Goyal will also meet senior leaders of major French companies, including Vicat, Total Energies, L'Oréal, Renault, Valeo, EDF and ATR, the ministry said. Two major events—the India-France Business Round Table and the India-France CEO Forum—will allow direct interaction between top Indian and French business leaders and are expected to result in new investment and partnership proposals. Also read: US trade deficit claims are misleading, it earns billions from Indian purchases of services: GTRI Goyal's visit coincides with the Organization for Economic Co-operation and Development (OECD) Ministerial Council Meeting in Paris. He will participate in an informal WTO ministers' gathering on its sidelines, where he is expected to present India's views on key global trade issues, including food security, sustainability, and changes needed in global trade rules amid rising protectionism. The minister will also hold bilateral meetings with trade ministers from the United Kingdom, Singapore, Saudi Arabia, Israel, Nigeria and Brazil. Significantly, Goyal will also meet EU Commissioners Maroš Šefčovič and Christophe Hansen, with the aim of giving fresh momentum to the India-EU FTA, which is now in advanced stages of negotiation. 'With both sides showing political will to conclude the deal, the discussions are expected to help bridge remaining gaps, especially in areas such as tariffs on automobiles and market access for Indian services," said Dattesh Parulekar, assistant professor of international relations at Goa University. Goyal will travel to Italy next, where he is expected to continue high-level talks with government and industry leaders to boost bilateral trade and investment. Also read: Govt to hold talks with e-commerce platforms over dark patterns Earlier, Mint reported on 29 May that Goyal would be leading a business delegation to France and Italy and was also expected to take a separate delegation to Switzerland soon after as part of India's broader global trade outreach.
IOL News
2 days ago
- Business
- IOL News
New Lotto boss says the game's back on — and this time, it's for the people
Moses Tembe, the chairman of Sizekhaya Holdings, has expressed the company's gratitude for being awarded the fourth lottery licence by the National Lottery "We welcome that the honourable Minister of Trade, Industry and Competition, Parks Tau appreciated the power of our vision. When the National Lottery was first mooted after the ushering in of our democracy, the most compelling argument for its existence was income it could generate to help the poorest and most vulnerable of South Africans," said Tembe. He went on to say that when the lottery is run well, it can become a powerful force for good. "We have seen glimpses of this in South Africa. In its 25 years of operation, the lottery has funded thousands of organisations that contribute to much needed community development. But we believe that it can deliver so much more. That is why Sizekhaya Holdings bid for the lottery."
IOL News
2 days ago
- Business
- IOL News
Moses Tembe of Sizekhaya Holdings celebrates new National Lottery licence
Moses Tembe, the chairman of Sizekhaya Holdings, has expressed the company's gratitude for being awarded the fourth lottery licence by the National Lottery "We welcome that the honourable Minister of Trade, Industry and Competition, Parks Tau appreciated the power of our vision. When the National Lottery was first mooted after the ushering in of our democracy, the most compelling argument for its existence was income it could generate to help the poorest and most vulnerable of South Africans," said Tembe. He went on to say that when the lottery is run well, it can become a powerful force for good. "We have seen glimpses of this in South Africa. In its 25 years of operation, the lottery has funded thousands of organisations that contribute to much needed community development. But we believe that it can deliver so much more. That is why Sizekhaya Holdings bid for the lottery."
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
No official discussions on Tengku Zafrul's PKR application yet, says PM
Prime Minister Anwar Ibrahim praised Tengku Zafrul Aziz, saying he had handled well his duties as investment, trade and industry minister. PETALING JAYA : There have been no official discussions on Tengku Zafrul Aziz's application to join PKR, says Prime Minister Anwar Ibrahim. However, he said Tengku Zafrul's position as investment, trade and industry minister would not be affected. 'We have not discussed anything yet. Let him fulfil his haj first. We don't need unhealthy speculation,' he said. Anwar praised Tengku Zafrul, saying he had handled his duties as minister well. 'We have hundreds of billions in investments, much of them managed by him with the Malaysia External Trade Development Corporation, his ministry and the government,' he said. Yesterday, Tengku Zafrul said he had decided to leave his fate as a Cabinet minister to Anwar, following his exit from Umno. He reiterated that his decision to leave Umno was not easy, but was made after careful consideration of various factors. 'I would like to focus on my haj pilgrimage, and I leave the matter entirely to the wisdom of the prime minister,' he said. Tengku Zafrul was recently urged by Umno Youth chief Dr Akmal Saleh to step down from the Cabinet after deciding to leave Umno. Yesterday, Umno president and deputy prime minister Ahmad Zahid Hamidi also urged Anwar to ensure that Umno retains its quota of seven ministers in the Cabinet. With Tengku Zafrul's exit from Umno, the party is left with six members in the Cabinet – Zahid, Mohamad Hasan, Johari Ghani, Khaled Nordin, Zambry Abdul Kadir and Azalina Othman Said.
