Business & Tech News
Deaf Mosquito Bio-Tech Cure Advance: A team of scientists from the University of California, have concluded a study that indicates that altering a genetic protein in male mosquito’s called trpVa that appears to be essential for their hearing. The process can prevent further propagation of the insects as they males are unable to hear particular wing-beat patterns of female insects and prevent them from engaging in mating. Mosquito-spread diseases such as malaria, dengue, yellow fever and Zika may all be a thing of the past as well as the endless irritating noise that humans generally despise, by turning male insects deaf so they struggle to mate and breed. Mosquitoes mate while flying and the males rely on hearing to detect females, based on her attractive wingbeats. Mosquitos are responsible for the spread of viral diseases to an estimated 400 million people a year globally. Annual death rates from malaria in Africa are enormous with more than 600 000 deaths recorded in 2022 alone.
Cocoa Price Hike Anticipated: Ghanaian Cocoa farmers, are stock-piling cocoa beans with an expectation that prices are likely to increase further than they have this season. The world’s second largest cocoa producing nations farmers are slowing supply to the global cocoa market, potentially hoping to recover losses from last season’s poor harvest volumes. The action by farmers has largely been a reaction to recent comments by Vice President Mahamudu Bawumia, who claimed that the government would raise the gate prices for cocoa, for local farmers. Cocoa Prices are currently at 5800 Pounds per ton.
Altron Shows Growth Potential: IT tech company, Altron, released its latest results yesterday that show an impressive 49% growth in pre-tax profits (EBITDA) and have increased dividend payments by 60%. The JSE listed company, has seen its share price gaining momentum rapidly, and more than doubling over the past 12 months, declared headline earnings per share (Heps) of 79c were up more than 100% on the previous period. Altron CEO Werner Kapp commented that: “The leverage in our platform businesses led to excellent segmental performance as we continued to add scale. Our customer-centric focus and higher margin annuity revenue mix are laying a strong foundation for future performance.”
Market News
Markets: Indices in the US indices all closed in the red yesterday, with the NASDAQ closing -0,35% down, the S&P 500 down by – 0,28% and the Dow Jones closing -0,61% down. The Nikkei is 1,35% up today at 38567, while the Hang Seng is up by by 0,3% this morning at 20567 currently.
Currencies: The US Dollar is currently trading at 1.088 against the Euro, at 1,297 against the Pound, and at 152.23 against the Yen. The rand remains range bound between 17,50 and 17,65 and is currently trading at R17.51 to the US dollar.
Commodities:
- Gold prices are currently trading at $2,7387
- Platinum prices are currently trading downwards and at $988 currently, with Palladium prices also losing momentum in trade today and currently at $1086
- Brent crude is currently trading upwards at $75.01 with WTI trading at $71.40 currently.
- Cocoa prices have remained above the 5800 mark and trading at 5803 pounds currently
(All prices quoted at 09H05 CAT)
Other News in Africa Today
Nigerian Protest Children – Charges Dropped: After extensive social pressure and widespread criticism, Nigeria’s president, Bola Tinubu, has directed that all minors detained during protests against the rising cost of living in August be freed and treason charges against them dropped. “The president has directed that these children, these minors, be released immediately,” Information Minister Mohammed Idris said on Monday. Approximately 76 people, including 30 minors, were charged with treason and inciting a military coup after they took part in protests against economic hardship in August and had been retained in custody in appalling conditions ever since. The state of the minors at their arraignment had sparked public outrage and criticism of the government after they were paraded in court.
Mauritian Social Media Ban Plan Dropped: The Mauritian government has done an about-turn on its previously stated decision to block access to social media ahead of the country’s general election due to take place on 10 November. The decision had been sparked by an incident where recordings of conversations, including those of politicians, were leaked on social media, creating some embarrassment and was deemed a threat to national security and integrity. One of these conversations included that of a senior police officer, asking a forensic pathologist to alter an autopsy report of a suspect who had been beaten in police custody.
The ban imposed, included social media platforms Facebook, Instagram, TikTok, and X, was to be in force until the day after the elections. Opposition parties and media commentators slammed the move as anti-democratic and a dangerous precedent of censorship prior to elections.
