Business & Tech News
Telegram COE Pavel Durov Arrest: Telegram, the messaging app platform, has said its CEO Pavel Durov, who was detained in France on Saturday, has “nothing to hide”. Durov was arrested at Le Bourget airport, Paris, late on Saturday, while on his way back from Azerbaijan. The warrant for his arrest was apparently for lack of co-operation with French police and is reportedly about insufficient moderation on the Telegram platform, with Mr Durov accused by French authorities of failing to take steps to curb criminal uses of Telegram. Telegram said in a statement that “its moderation is within industry standards and constantly improving”. “It is absurd to claim that a platform or its owner are responsible for abuse of that platform,” the app company said.
Polaris Dawn Spacewalk Tomorrow: SpaceX’s attempt at the first ever private spacewalk – tomorrow, on 27 August, will be a test of trailblazing equipment, including slim spacesuits and a cabin with no airlock, in a ground-breaking mission for Elon Musk’s space company. A billionaire entrepreneur, a retired military fighter pilot and two SpaceX employees are poised to launch aboard a modified Crew Dragon craft, before embarking on a 20-minute spacewalk 700 km into space two days later. SpaceX’s five-day mission, named Polaris Dawn – will traverse in an oval-shaped orbit, passing as close to Earth as 190 km (118 miles) and as far as 1,400 km (870 miles), the farthest any humans will have ventured since the end of the United States’ Apollo moon program in 1972.
People will be able to watch the launch live here – https://www.youtube.com/watch?v=CzVVSxAXicw
Market News
Markets: The Dollar has traded toward its lowest point since July 2023, after the Fed meeting last week with the Dollar index slipping to 100.70 this morning, and the Euro trading above 1.1200 and is currently trading at 1.1187. The Pound was trading at a two-year high against the Dollarand is currently trading at 1.3209. The Yen has also firmed further against the Dollar now trading at 143.73 extending its gains below the 144.00. Rate cut bets are pricing in a 60% chance for a 25bps cut, while the expectation of a 50bps cut has increased to nearly 40%. Emerging market currencies also benefited from the softer Dollar and the Rand closed Friday’s session just above R17.70. and is trading at 17.77 this morning.
Commodities: Gold continues on its strong demand cycle and is currently trading at $2514, with Platinum at $969 and Palladium trading at $964. After trading close to a one-year low last week, Brent Crude is closing in on the $80 per barrel mark, and is currently at $78.88 with WTI also trading upwards at $75.64.
Other News Today
Burkina Faso Attack Leaves 200 dead: Jama’at Nusrat al-Islam wal-Muslimin, an armed group linked to al-Qaeda, is believed to be responsible for a gruesome attack that killed up to 200 people and left another 140 injured. The attack took place on Sunday in the region of Barsalogho in central Burkina Faso. The attack’s location is approximately 40km north of the geo-strategic town of Kaya, which analysts claim is home to the last standing force protecting the capital, Ouagadougou.
Nigerian Medical Student hostages released: The twenty Nigerian medical students who were reported kidnapped on their way to a convention 9 days ago, have been freed according to police reports. Gunmen had seized the students on August 15 as they travelled to a conference in Benue State, and later a ransom demand was issued by the kidnappers. State police said in a statement that they had “confirmed the release of the 20 students from the University of Maiduguri and University of Jos”. The students were freed “without any ransom paid”. The group was “rescued tactically and professionally”, according to the statement.
Sports Highlights:
Ethiopian Athlete – Historic Win: Yalemzerf Yehualaw secured a third win in the Antrim Coast Half Marathon women’s race with Kenya’s Alex Nzioka Matata claiming victory in the men’s event. Yehualaw, who won the 2022 London Marathon, who had built a solid lead at the half-way point finished in a time of 65 minutes 34 seconds in wet and windy conditions. Her winning time was 1min, 16 seconds clear of Kenya’s Loice Chemnung. Joyciline Jepkosgei, took third place.
