Municipalities have increased their income by 25 and a half billion rand in the last financial year, grossing a total of 309 billion rand. This is according Financial Census of Municipalities released by Statistics South Africa today. The census uses ratios to determine the financial health of municipalities around the country. Dimakatso Leshoro reports...

As the season of initiation is upon us, a new trend has emerged whereby the owners of bogus initiation schools allegedly pay boys a fee to get them initiates. It is understood that in Orange Farm, south of Johannesburg, principals of these initiation schools, offer young boys R150 for each new recruit. There are also reports that these young recruits come home addicted to drugs. Captain Keke Motsiri who is the Communications Officer at the Orange Farm Police Station, dealt with this case, and he joins us on the line to tell us more.

Investment analyst at 27Four Investment Managers, Nadir Thokan looks at S&P's downgrading the UK's credit rating as well as the latest on Old Mutual's plan to split....

The Justice and Constitutional Development Department says the country needs to adopt robust measures to put an end to all forms of discrimination such as racism. This comes as the department held its provincial hearings in East London as part of its National Action Plan to combat racism. The hearings are part of various engagements on the draft plan that the department and various partners are hosting countrywide. Lubabalo Dada has more

Home Affairs Minister Malusi Gigaba has announced that the closing date for the Lesotho special permit applications has been extended by three months. The original closing date was scheduled for the end of this month. Commenting on the repeated call by a section of the Lesotho nationals inside the country that the Mountain Kingdom should become part of South Africa, Gigaba say that decision lies with the Basotho nation and its Monarchy. Neo Makwiting reports.

There is no crisis at the SABC. This is according to the public broadcaster's board which denied reports that employees are in revolt against management. The board has also denied widespread unhappiness among staff. According to some reports, journalists have threatened a news blackout if COO Hlaudi Motsoeneng does not reverse the suspensions of three senior reporters. The suspensions were followed by the resignation of Acting CEO Jimmi Mathews yesterday. Senior Political Reporter Angela Bolowana compiled this report...

It's been a week since a four-year-old boy with Albinism, Manelisa Ntombela, disappeared at Mkhoboza, ESikhaleni outside eMpangeni in northern KwaZulu-Natal. The Community of Mkhoboza have marched to a local police station to express their unhappiness at the lack of progress in the search for the missing boy. His family has lost hope of finding him alive. Fanele Mhlongo reports...

Market Analyst Clive Ramathibela looks at Asian Stocks Advancing Amid Global Rebound on Stimulus Speculation as well as Toyota recalling 1.4 million cars over faulty airbags...

There is no crisis at the SABC. This is according to the public broadcaster's board which denied reports that employees are in revolt against management. The board has also denied widespread unhappiness among staff. According to some reports, journalists have threatened a news blackout if COO Hlaudi Motsoeneng does not reverse the suspensions of three senior reporters. The suspensions were followed by the resignation of Acting CEO Jimmi Mathews yesterday. We spoke to Chairperson of Parliament's Portfolio Committee for Communications Humphrey Maxegwana...

The National Freedom Party has been disqualified from contesting August 3 municipal elections. KwaZulu-Natal IEC Commissioner Mawethu Mosery says the NFP failed to meet the deadline of paying the deposit. The party says they are still waiting for the decision of the Electoral Court after they approached it in connection with the challenges they encountered. We spoke to National Freedom Party's Secretary General, Professor Nhlanhla Khubisa...