5 things you need to know in SA business today and 10 fun facts about Oktoberfest
1. On Thursday, the Reserve Bank will announce its decision on interest rates. Economists are not expecting a rate cut.
2. The other big news this week could come from a cabinet meeting on Wednesday, where key decisions may be made on the future structure of Eskom, and the “consolidation” of SAA, SA Express and Mango. Read more.
3. Oil prices are expected to spike this morning after drone attacks on on key Saudi Arabian oil facilities disrupted half of that country’s oil output – and 5% of the global oil supply. Read more.
4. Deputy Finance Minister David Masondo stands accused of using his influence to have an alleged ex-mistress arrested for extortion. Read more.
5. Deputy Minister of Mineral Resources and Energy Bavelile Hlongwa died in a car accident. Read more.
12 fun facts about Oktoberfest
Reported by Gabbi Shaw
As the end of September approaches, millions of people around the world are getting ready to attend Oktoberfest, an annual festival in Munich, Germany, that celebrates all things hoppy.
In addition to bringing in almost R15 billion in tourism money, millions of gallons of beer are drunk over the course of 16 days, and thousands of sausages are consumed.
Keep scrolling to learn more about the 209-year-old event.
The very first Oktoberfest was held on October 12, 1810 in Munich.
It was to celebrate the royal wedding of Crown Prince Ludwig to Princess Therese of Saxony-Hildburghausen.
Another fun fact: 30 years later, the first lager was brewed in America by a Bavarian immigrant in Philadelphia, a man named John Wagner who owned and operated a beer hall in the city.
Over the past 209 years, Oktoberfest been cancelled only 24 times, and for reasons like cholera outbreaks or war.
It was cancelled in 1813, due to a war against Napoleon. It was cancelled in 1854 and 1873 due to a cholera epidemic, then again in 1866 due to a war against Prussia. In 1870, due to involvement in the Franco-Prussian War, it was once again cancelled.
From 1914 to 1918, World War I prevented the festival from taking place, while in 1919 and 1920, it was simply called an autumn festival. In 1923 and and 1924, it was cancelled due to inflation.
Then again, from 1939 to 1945, Oktoberfest was put on hold during World War II - and just like the prior war, it was just called an autumn festival in '46, '47, and '48.
The festival makes the city of Munich R21 billion in tourism money.
Tourists spend money on lodging, food, drinks, transportation, clothing - everyone should rock a dirndl or lederhosen - and souvenirs.
6.3 million people attended Oktoberfest in 2018, but the most-attended festival was in 1985, when 7.1 million people showed up.
That is a lot of drunk people.
There are 38 different beer tents, and some can fit as many as 11,00 people.
Some of the most popular ones are the Hofbräu, Hacker-Pschorr, Schützen, and Schottenhamel tents. Each tent has a wholly different vibe.
Can you say prost? 7.6 million litres of beer are consumed during the 16-day festival.
This year, Oktoberfest runs from September 21 to October 6.
Don't try to steal your stein. Over 101,000 beer mugs were confiscated from patrons trying to sneak them out in 2018.
Collector's mugs are for sale. Save yourself the trouble and get one of those.
It's not just about beer. Over 510,000 whole roast chickens and 60,000 sausages are eaten.
While 124 cows, 48 calves, and 59,000 pork knuckles are also consumed.
In 2018, 840 passports, 460 wallets, 350 phones, and 300 keys turned up at the lost and found.
In total, there were 2,685 lost items waiting to be reclaimed.
You might think it's a bunch of tourists, but 70% of attendees are actually from Bavaria, Germany.
Only 15% of attendees come from abroad, and 14% of those visitors are from America.
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