Mali Announces Diplomatic Severance with Ukraine: Following the Kurian’s support and alleged complicity, shown for a recent terrorist attack by Tuareg militants that killed Malian soldiers and Russian military contractors. Mali’s interim government has announced that it is breaking off diplomatic relations with Ukraine.
RT Launches Campaign in Africa: RT (formerly Russia Today) TV company is promoting itself in several African nations including a recent advertising campaign launched in South Africa promoting its service. Billboards and videos have been seen popping up in several African cities that show 20th-century independence leaders and anti-colonial quotes as part of a drive to promote the Kremlin-backed outlet.
US Military Withdraws from Niger: The U.S. Department of Defence and Niger’s Ministry of Defence announced in a joint statement on Monday that the US had handed over its last military base in Niger to local Authorities. Airbase 201 in the City of Agadez was the last US military base to be handed over after the 101 Airbase, a small drone Airbase in Niamey was handed over last week. There are still some US forces in Niger who will leave Niger by 15 September.
Nedbank Shows Positive Growth: One of South Africa’s largest retail banks, Nedbank Group, released its half year results on Tuesday morning and showed an 8% increase in headline earnings for the first half of its 2024 fiscal. The increase in profits was due to positive growth in non-interest revenue, lower impairments and effective cost control. Headline earnings grew to R7.9 billion ($427.2 million) from R7.3 billion in H1 2023. The declared interim dividend of 971 cents per share, was up by 11.5%.
Olympic Highlights:
- Kenya’s Beatrice Chebet wins Gold: Kenya grabbed a double medal haul in the women’s 5,000 metre race yesterday. The result was initially in doubt with Faith Kipyegon at first disqualified but then later reinstated. The 24-year-old Chebet produced a thrilling finish to cross the line in 14 minutes and 28.56 seconds ahead of compatriot Kipyegon who was disqualified of her silver medal for an alleged obstruction during a clash with Gudaf Tsegay. Kipyegon’s silver was reinstated following a successful appeal by the Kenyan Olympic team management to World Athletics.
- Women’s 800m Athletics: Ethiopia’s Tsige Duguma, hit her personal best time and won Silver in the Women’s 800m final last night. Her time of 1:57. 15 was less than half a second off winner Keely Hodgkinson of Great Britain. Mary Moraa of Kenya came third to clinch Bronze.
Market News: Markets recovered from yesterday’s uncertainty, with most currencies seen moving back towards the levels we saw last week as consolidation kicks in. The Nikkei and Topix reversed most of yesterday’s losses, closing close to 7% up in both cases after the Nikkei recorded its most significant loss since the 1987 “Black Monday” crash. The Reserve Bank of Australia (RBA) kept rates unchanged this morning. The RBA is expected to be the last G10 central bank to start cutting interest rates. Commodity prices have also benefited from the improved risk factor, with Oil prices rising by 1% this morning in early trade.
