southafrica
The South African rand continued its strong rally, becoming the best-performing emerging market currencies this year. The USD/ZAR exchange rate retreated to 17.83, its lowest point since August 2023. It has dropped by over 8% from the highest point this year. Improved business and consumer confidenceThe USD to ZAR exchange rate has been in a strong downtrend this year as traders watched the ongoing political stability in South Africa. This stability happened after the Africa National Congress (ANC) suffered its first election since the end of the apartheid, leading to a coalition government wi...
Invezz
Shares of Bavarian Nordic, a Danish vaccine manufacturer, surged over 15% on Thursday following the World Health Organization’s (WHO) declaration of Mpox as a public health emergency. This announcement has drawn significant attention to the Hellerup-based company, which, alongside Emergent BioSolutions Inc., is one of the only two firms with a vaccine endorsed by the Centers for Disease Control and Prevention (CDC) for combating the Mpox (also known as monkeypox) virus. Emergent BioSolutions also saw a stock rise of over 10% in response. The WHO’s declaration reverberated globally, particularl...
Invezz
The South African rand gained 0.4% early this week, trading at 18.25 against the US dollar, driven by a weaker dollar index and mounting anticipation surrounding critical economic data. Investors are keenly watching upcoming reports from both the US and South Africa, which are expected to influence monetary policy and market dynamics significantly. Focus on US Inflation data Attention is centered on the release of US consumer inflation data, scheduled for Wednesday. This report will be pivotal in determining the Federal Reserve’s future monetary policy. Should inflation rise more than expected...
Invezz
South African actress Connie Chiume, best known on the international stage for her roles in Marvel’s Black Panther films and Beyoncé’s Black Is King, has died aged 72. Chiume died yesterday at the Garden City Hospital in Johannesburg, South Africa, her family announced on Instagram. “The Chiume Family regrets to inform you of the passing of the internationally acclaimed award-winning actress Connie Chiume,” they wrote in a statement. “The family asks for privacy during this difficult period. The family will communicate further details.” A cause of death wasn’t immediately available. The South ...
Euronews (English)
VALR has announced the launch of Solana Summer, an engaging event for cryptocurrency traders that will run from August 1st to September 31st, 2024. This event promises to be a significant attraction for those trading Solana and other tokens in the Solana ecosystem, with 300 SOL in prizes and lucky airdrops set to be distributed. Prizes and participation detailsThroughout the Solana Summer event, VALR will distribute 300 SOL in rewards. Each day, one lucky participant will receive 1 SOL as a gift. In addition to these daily rewards, top traders across Spot, Futures, and combined volume rankings...
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South Africa’s Anglo American Platinum (Amplats) is navigating significant financial challenges while keeping its ambitious restructuring program on track. The company expects to complete its demerger from its parent company, London-listed Anglo American, next year and is planning a secondary listing in London, as announced by its CEO on Monday. In its first-half results report, Amplats also revealed the reduction of approximately 3,700 jobs to cut costs in preparation for the demerger. Sharp drop in earnings driven by multiple factorsAmplats reported that its earnings before interest, tax, de...
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This marks the first coalition government in 30 years after the ANC lost its parliamentary majority. Ramaphosa, reelected by lawmakers with support from the main opposition and a smaller party, faces the challenge of leading a coalition with divergent views on key issues like land redistribution and the electricity crisis. The formation of the new Cabinet remains pending.
Euronews (English)
As the leader of the African National Congress, or ANC, Ramaphosa won convincingly in Parliament against a surprise candidate who was also nominated — Julius Malema of the far-left Economic Freedom Fighters. Ramaphosa received 283 votes to Malema's 44 in the 400-member house. The 71-year-old secured his second term with the help of lawmakers from the country's second biggest party, the Democratic Alliance, and some smaller parties. They backed him in the vote and got him over the finish line following the ANC's loss of its long-held majority in a landmark election two weeks ago that reduced it...
Euronews (English)
Zimbabwe is seeking comments on the crypto industry to establish a policy for the sector, media outlets reported on Wednesday. The government has set up a committee to consult operators in the digital asset space and wants comments by June 26. Countries worldwide have been looking to understand crypto and regulate the nascent sector. South Africa recently started registering companies, and Nigeria has been establishing its approach to crypto in recent years. To keep up with the global race, Zimbabwe is exploring comprehensive crypto regulations and is inviting public input to better understand...
Invezz
The storm, which struck Monday, caused significant damage to homes and infrastructure. Disaster teams are assessing the damage and providing relief, with displaced residents sheltered in government buildings. The South African Weather Service confirmed two tornadoes struck the region, causing widespread destruction. The province, historically prone to extreme weather, faced similar devastation in 2022 with over 300 deaths due to severe flooding.
Euronews (English)
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