Broadcast Head Murdered: Guntila Muleya, the new Zambian broadcasting regulator was abducted and murdered this week. His body was found just outside the capital Lusaka. Police confirmed that he had been shot and are investigating the abduction and murder. No Motive for the murder has been disclosed as yet. Police believe the director general of the Independent Broadcasting Authority (IBA) was kidnapped after leaving work on Tuesday.
Hunger Crises in Tigray, Ethiopia: The BBC has reported that there is a growing food crisis in the north of Ethiopia, driven by drought, crop failure and continued insecurity in the aftermath of a brutal war.
The report states that local officials are warning that more than two million people are at risk of starvation. In The report, BBC provides satellite images showing evidence of some of the worst affected areas in Tigray province, and analysis of satellite imagery revealing the full scale of the emergency the region now faces.
Olympic Highlights:
- Women’s Football:
- Zambia suffered a 3-0 defeat to the USA in their opening match yesterday
- Spain Beat Japan 2-1 in their opening match in Paris
- Paris Olympics organisers are looking into what led to a pitch invasion during the opening match of the Olympic football tournament between Argentina and Morocco. Argentina lost 2-1 following a VAR review after play was suspended with the scores level at 2-2 but the final result was only confirmed two hours later when the game was restarted.
- Sevens Rugby Surprise win: After a poor start with a loss against Ireland and New Zealand in the group stage, the South African Blitzboks beat New Zealand yesterday 14-7 in the quarter finals to make it into the Olympic semi-finals.
Markets settle after volatility: Yesterday’s increased volatility in markets has subsided somewhat this morning as traders await today’s key Personal Consumption Expenditures (CPE) price index data. US Q2 GDP data was better-than-expected at 2.8% versus estimates of only 2.0% but the forward-looking durable goods orders number was down at -6.6% versus estimates of 0.3%, further cementing market bets of a September rate cut by the Fed. The Dollar is marginally softer at 1.0860 and 1.2870 against the Euro and Pound while the Yen is steady at 153.68. The Chinese Yuan firmed nearly 0.5% yesterday on rumours of intervention to support the currency by the PBoC. The Yen stabilized near a 12-week high against the dollar earlier today, with the Asia-Pacific equity markets finding their feet, a day after their worst session since mid-April.
Commodities firmer – oil trading unchanged: Gold, Platinum, and Palladium are all trading firmer this morning as they recover from yesterday’s losses. Gold is up 0.35% at $2,372, Platinum is up 0.65% at $942, and Palladium is up 0.9% at $917.00. Industrial metals have also stabilized and are showing small gains. Brent crude has opened flat at $82.50 this morning as it heads for a third week of losses on the back of lower Chinese demand and hopes of a ceasefire in the Middle East
