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South African parliament urges joint
fight against cash-in-transit heists

CAPE TOWN South Africa (Xinhua) -- South Africa’s Parliament on Monday urged all industry players to join hands in curbing the current spate of cash-in-transit heists.

Parliament will bring together all players in the cash-in-transit industry to discuss effective measures to end the scourge, Parliament’s Portfolio Committee on Police said.

A public hearing will be held the coming Wednesday to discuss priorities, Committee Chairperson Francois Beukman said.

According to the SABRIC, the first two quarters of this year saw a marked increase in cash-in-transit heists, with 159 armed robberies reported.

In the majority of the incidents, commercial explosives were used and the robbers were armed with AK47s and other powerful rifles. In some cases, gangs of up to 20 heavily armed members attacked in broad daylight, using stolen or hijacked vehicles.

In a parliamentary briefing last week, Police Minister Bheki Cele disclosed that some weapons recovered during the cash-in-transit heists belong to police and the army.

“There are SAPS members who have been arrested for cash-in-transit robberies. We won’t sit here and deny their involvement,” said Cele, who listed cash-in-transit heist as a crime of priority.

Parliament has urged law enforcement agencies to directly interrogate the root causes for the current situation and re-assess their analysis and methodology dealing with serious organized crime.



South African stocks end lower as G7 summit fails to inspire investor

JOHANNESBURG South Africa (Xinhua) -- The Johannesburg Stock Exchange (JSE) closed marginally lower on Monday as the Group of Seven (G7) meeting in Canada at the weekend failed to inspire markets.

Global markets remained subdued as investors eye events that could move the market, including central bank announcements and the U.S.-North Korean summit.

The South Africa’s rand was at R13.09 to the dollar from R13.10, R15.4711 to the euro from R15.46 and R17.52to the pound from R17.5440.

Market expert are looking forward to Wednesday’s rate decision by the U.S. Federal Reserve.

U.S. President Donald Trump accused Canadian Prime Minister Justin Trudeau of being “dishonest and weak” and did not support the communique after the G7 meeting.

The all share was down 0.13 percent to 58,146.1 points and the top 40 lost 0.09 percent.General retailers climbed 0.32 percent, industrials 0.13 percent and banks 0.76 percent. The gold index shed 3.4 percent, platinum 0.92 percent and resources added 0.36 percent.

Anglo American slipped 0.79 percent to R328.39 and Sasol 0.91 percent to R488.

AngloGold Ashanti plummeted 4.47 percent to R106.34. Naspers gained 0.07 percent to R3,337.7.

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