Business News Today
Singapore Seeking New Investment Opportunities in South Africa
Enterprise Singapore, the city-state’s trade and enterprise agency, Are leading a business trade mission in South Africa this week and have stated that the mission, part of its Scale-Up Programme, is aimed to connect participating firms with South African counterparts and to seek potential partners across sectors. This trip comes amid a rapidly changing supply-chain sector with global shifts reshaping various industries. The delegation includes steel infrastructure specialist Mlion Corporation, car-leasing firm Lumens, snack maker Cocoba, refurbished-device trader Mercantile Pacific, and industrial equipment supplier Chee Fatt.
Meetings are reportedly planned with major local and regional players, including Tolaram Group and Denmark-based FLSmidth, to discuss potential collaboration and investment opportunities.Rahul Ghosh, Enterprise Singapore’s Middle East and Africa director, said manufacturing, agri-processing, and logistics had been identified as priority sectors.Trade in goods between Singapore and South Africa reached $1.4 billion in 2024, almost double the levels recorded in 2020, official data shows.
Shares Surge Across US Indexes Yesterday
US stocks rebounded with the three main averages closing near record highs on Thursday, with the S&P 500 up 0.6%, the Dow Jones rising 0.3% and the Nasdaq climbing 0.9%, as upbeat corporate earnings and a White House announcement that President Trump will meet Chinese President Xi Jinping next Thursday in South Korea eased concerns over US-China relations. Nvidia (1.1%), Amazon (1.2%), and Broadcom (1.2%) led advances among tech stocks, while Oracle added 2.5%. Honeywell and American Airlines surged 6.8% and 7.2% after strong quarterly results.
Meanwhile, Tesla added 1.7%, reversing early session losses. Energy shares also advanced as oil prices surged after the US announced new sanctions on Russia’s largest crude producers. More than 80% of S&P 500 firms reporting so far have beaten earnings estimates, reinforcing optimism over corporate resilience. Investors now look ahead to Friday’s inflation data for clues on the economy before the Federal Reserve’s late-October policy meeting.
Ramaphosa In Vietnam Seeking New Investment Plan
South African President Cyril Ramaphosa met with Vietnamese President Luong Cuong yesterday, at the start of the first presidential visit, by a South African president to the Asian Nation in 20 years. This is a two day official visit to Hanoi in an effort to boost ties with one of Asia’s fastest growing economies and a global leader in trade. South Africa sees Vietnam as a key partner in our export diversification strategy and we are encouraged by the steady growth in trade and investment in our two countries,” Ramaphosa said during a news conference after meeting with his Vietnamese counterpart. South Africa is Vietnam’s largest trade and export partner in Africa, with inter country trade increasing from $192 million in 2007 to $1.72 billion in 2024, according to Vietnam government statistics.
Breaking News Shorts:
- OpenAI announced yesterday that it had acquired Tech company Software Applications, Inc., the makers of an AI-powered natural language interface for Mac computers called Sky. The Sky AI product is similar to AI browsers, and can see what’s on your screen and take action in your apps for you.
- The SHANGHAI index in China hit a 10-year high this morning that saw the index increase to 3937.00 Index Points, its highest level since August 2015. Over the past 4 weeks, the Shanghai Stock Exchange Composite Index gained 2.11%, and in the last 12 months, it increased 19.24%.
- China yesterday urged the European Union to halt the inclusion of Chinese enterprises in the bloc’s 19th package of sanctions against Russia, a spokesperson for China’s Ministry of Commerce said. Despite efforts to dissuade the EU, they have refused to change their decision, listing Chinese companies and imposing sanctions on major Chinese oil refineries and traders who are trading with Russia for the first time.
- Gold prices fell to around $4090 per ounce this morning, and is on track to end its nine-week winning streak, pressured by heavy selling after repeat record highs. The metal dropped more than 5% early in the week, marking its largest intraday loss in five years. The decline coincided with significant withdrawals from gold-backed ETFs and geopolitical tensions easing. Prices are still up almost 50% in the last year.
- Asian shares were trending higher today, after the White House confirmed plans for US President Trump, to meet with Chinese leader Xi Jinping next week.The confirmation reduced some of the uncertainty surrounding trade uncertainties and tensions between the two biggest global economies, though prospects for a significant trade deal remain unclear at this stage.
Markets by Numbers
Currency markets indicate the US dollar weaker, with the Euro trading against the US dollar at 1.16024 while the Pound is trading at 1.33145 to the US dollar. The Yen is currently trading at 153.01 to the dollar. The rand (ZAR) is currently at R17.33 to the US dollar.
Commodities:
- Gold futures prices are trending lower this morning, after a big drop in prices yesterday, and are currently trading around $4083.00per ounce.
- Copper prices have gained further traction today, with prices currently around $5.1035
- Silver futures prices are trading -1.7% lower today, and currently trading around $48.202
- Platinum futures have dropped by over -1.2% this morning, and currently trading at $1558.60, While Palladium prices have dropped by – 1.8% this morning also after a steep drop yesterday, and are currently trading around $1442.50 per ounce.
- Brent crude oil prices are softer today, and currently at $65.74 with WTI trading lower at $61.51
- Cocoa futures have continued to see gains today, and currently trading around $6389.62 per ton.
- Coffee futures have fallen by -2.5% today, and are currently trading at around $4.1015 per pound
Crypto Currencies:
- Bitcoin prices have found further traction today, and currently trading at around $111355 per coin
- Ether prices have seen big upwards momentum today, and are currently trading around the $3984.92 mark
- $Trumpcoin is trending upwards today, and currently trading around $5.92
(All prices quoted at approximately 08H25 Central African Time)
Africa News Briefs:
- Internet access in Cameroon has been significantly disrupted as protests continue over alleged irregularities in this month’s presidential election, Internet monitor NetBlocks said on Thursday. “We can confirm a significant, ongoing disruption to internet connectivity in Cameroon which may limit coverage of events on the ground,” NetBlocks said in an email to Reuters.
- Global beverage giant Coca-Cola has given notice that it expects to incur a significant impairment charge of around $1 billion during the fourth quarter of 2025 related to the sale of a part of its interest in bottling operations in Africa, the beverage maker said in regulatory filing yesterday. Shares of Coca-Cola fell around 1% in the late-afternoon session.On Tuesday, Swiss-based bottler Coca-Cola HBC said The group would acquire a 75% stake in its African counterpart for $2.6 billion.
- Forty people, including infants, died when a boat carrying migrants seeking to reach Europe sank Wednesday off the coast of Tunisia, according to local judicial authorities. Around 30 others were rescued.Tunisian naval units that arrived on the scene rescued 30 other migrants on board the boat, which sank off the Mediterranean port of Mahdia in central Tunisia.
