Breakfast Edition: 28 January 2016

TUT CAMPUSES REMAIN CLOSED: The Tshwane University of Technology on Thursday confirmed that its campuses will again be closed due to the ongoing #OutSourcingMustFall protests. According to TUT spokesperson, Willa de Ruyter, academic activities at the Pretoria West, arts and Arcadia campuses will be suspended as a result of the ongoing protest action. Earlier this week it was announced that all stakeholders would discuss the current impasse over the outsourcing of workers on TUT campuses. "We decided on Wednesday night to suspend activities while a task team continues its work," de Ruyter told Jacaranda FM news. De Ruyter said that the task team would investigate the viability of the insourcing of staff.

REPO RATE ANNOUNCEMENT: Economists are warning consumers to brace themselves for a possible interest rate hike of 50 basis points. The repo rate would be announced by the Reserve Bank's Monetary Policy Committee on Thursday afternoon. Econometrix Chief Economist Dr Azaar Jarmine said the impact of the drought, the import of maize and the weakening of the Rand, all had a negative impact on the economy.

OUTCOME OF THE ANC LEKGOTLA: The ANC has denied reports of chaos and turmoil in the nomination of candidates for the local government elections. South Africans are expected to vote somewhere between May and August in what has been described as the most contested elections since the dawn of democracy in 1994. The issue was high on the agenda, when the ANC's NEC held its three day lekgotla in Irene. Samkele Maseko reports.

TRUCK DETAINED AT LEBOMBO BORDER: At the Lebombo border post in Mpumalanga, custom officials detained a truck carrying about 30 000 pairs of fake sneakers. The shoes were worth more than R23 million and according to SARS spokesperson, Sandile Memela said the illegal shoes were being transported from Mozambique to South Africa.

POTATO 345 SELLS FOR $1 MILLION: A photo of an Irish potato taken by a world-famous visual artist has sold for more than $1 million, according to CNN. According to the news agency, the photo of the potato was taken by Kevin Abosch, who is famous for photographing well-known people like Malala Yousafza and Yoko Ono. Abosch portraits usually sell for around $500 000, but his latest masterpiece was bought by a European businessman for $1 million.

INMATES ESCAPE AFTER BOMBING PRISON WALL: A video has emerged showing dozens of Brazilian inmates making a run for it after blowing up a prison wall. The dramatic footage captures the moment 40 prisoners escape a jail in Brazil after blowing up an external wall and making a run for it. The shocking incident was caught on CCTV.

FINANCIAL INDICATORS:

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