{"id":865848,"date":"2026-07-09T07:15:51","date_gmt":"2026-07-09T05:15:51","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=865848"},"modified":"2026-07-09T07:15:51","modified_gmt":"2026-07-09T05:15:51","slug":"new-r1-7-megabridge-being-built-in-south-africa-and-top-all-boys-private-school-in-hot-water","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/865848\/new-r1-7-megabridge-being-built-in-south-africa-and-top-all-boys-private-school-in-hot-water\/","title":{"rendered":"New R1.7 megabridge being built in South Africa, and top all-boys private school in hot water"},"content":{"rendered":"\n<p>The South African rand fell to its lowest level in a week \u200bon Wednesday, after US President Donald Trump said \u200can interim peace deal with Iran was &#8220;over&#8221;, dampening risk appetite and pressuring emerging-market currencies.<\/p>\n\n\n\n<p>The rand was trading at 16.3850 against the dollar, which is approximately a 0.5% decline from its previous close, aligning with losses among its emerging-market counterparts.<\/p>\n\n\n\n<p>The US dollar remained stable against a basket of currencies, while oil prices surged by more than 5% to a two-week high.<\/p>\n\n\n\n<p>Iran&#8217;s Revolutionary Guards claimed responsibility for targeting US military sites in Bahrain and Kuwait following a series of US military strikes on Iran in retaliation for attacks on tankers in the Strait of Hormuz.&nbsp;<\/p>\n\n\n\n<p>Like other risk-sensitive currencies, the rand tends to respond to global market trends. Analysts anticipate that its near-term trajectory will closely follow developments in the Middle East and the minutes from the Federal Reserve&#8217;s meeting later on Wednesday.<\/p>\n\n\n\n<p>On the Johannesburg Stock Exchange, the Top-40 index was down 1.3%. Additionally, South Africa&#8217;s benchmark 2035 government bond weakened, with its yield rising 7.5 basis points to 8.305%.<\/p>\n\n\n\n<p>On Thursday, 9 July 2026, the rand was trading at R16.39 to the dollar, R21.95 to the pound, and R18.72 to the euro. Gold is trading at $4,061.01 an ounce, while oil prices were at $78.92 a barrel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5 important things happening today<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/07\/Bishops-Diocesan-College.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/07\/Bishops-Diocesan-College-1024x576.jpg\" alt=\"\" class=\"wp-image-865850\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/07\/Bishops-Diocesan-College-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/07\/Bishops-Diocesan-College-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/07\/Bishops-Diocesan-College-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/07\/Bishops-Diocesan-College-1536x864.jpg 1536w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/07\/Bishops-Diocesan-College.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p><strong>R1.7 billion megabridge:<\/strong> The Msikaba Bridge, located near Lusikisiki in the Eastern Cape, is one of two major projects under construction. It aims to reduce travel times between the Eastern Cape and KwaZulu-Natal. Once completed, it will be the longest span cable-stayed suspension bridge in South Africa, according to SANRAL. [<a href=\"https:\/\/topauto.co.za\/news\/158221\/massive-new-r1-7-billion-megabridge-being-built-in-south-africa-photos\/\" target=\"_blank\" rel=\"noreferrer noopener\">TopAuto<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Top private school in hot water:<\/strong> Bishops Diocesan College traditionally displayed only its own flag, the South African flag, and the St George\u2019s flag. The recent addition of the LGBTQ+ Pride flag has sparked controversy, with some conservative parents and Old Diocesans claiming it undermines the school\u2019s Anglican traditions and forces a connection to the political Pride movement, which many students oppose. [<a href=\"https:\/\/newsday.co.za\/south-africa\/21469\/top-south-african-private-school-under-siege-over-flying-the-lgbtq-pride-flag\/\" target=\"_blank\" rel=\"noreferrer noopener\">Newsday<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Big allegations against new DStv owner:<\/strong>\u00a0A MultiChoice insider has alleged that the company\u2019s new owner, Canal+, has breached the Competition Commission\u2019s three-year moratorium on retrenchments. [<a href=\"https:\/\/mybroadband.co.za\/news\/broadcasting\/657092-big-allegations-against-new-dstv-owner.html\" target=\"_blank\" rel=\"noreferrer noopener\">MyBroadband<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Proposal to change the official petrol price every two weeks:<\/strong>\u00a0South Africa could move away from its long-standing monthly fuel price adjustment, following a proposal to introduce bi-weekly price changes to better respond to rapid swings in global oil markets. [<a href=\"https:\/\/businesstech.co.za\/news\/energy\/865827\/proposal-to-change-the-official-petrol-price-every-two-weeks-in-south-africa\/\" target=\"_blank\" rel=\"noreferrer noopener\">BusinessTech<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Warning to South Africans living in small towns:<\/strong> The National Treasury\u2019s decision to pause equitable share transfers to 69 municipalities in South Africa could affect service delivery, particularly in smaller, more rural towns. While the Treasury\u2019s decision is considered a necessary move to instil fiscal discipline, it may impact smaller municipalities\u2019 ability to pay critical service providers. [<a href=\"https:\/\/dailyinvestor.com\/south-africa\/142438\/south-africans-living-in-small-towns-headed-for-serious-trouble\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Investor<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are five important things happening in and affecting South Africa on Thursday, 9 July.<\/p>\n","protected":false},"author":92,"featured_media":865849,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2075086555169874012","_sma_x_attempts":1,"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-865848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/865848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=865848"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/865848\/revisions"}],"predecessor-version":[{"id":865851,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/865848\/revisions\/865851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/865849"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=865848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=865848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=865848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}