Business News Today
Rare Earth Exports to US from China Surges
China’s rare earth magnet exports to the US surged 56.1% from a month earlier to 656 tons in October 2025, the highest since January, according to General Administration of Customs data released on Thursday. The US, Germany, South Korea, Vietnam, and India were the top five export destinations for China’s rare earth magnets by volume last month. The latest data comes after China announced earlier this month that it would suspend rare earth export control measures for one year. China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a full rollback of restrictions, despite hopes from Washington.
Overall, rare earth exports in October dropped 5.2% from September, falling to 5,473 metric tons from 5,774 tons, but were up 15.8% from 4,725 tons in the same month in 2024. Year-to-date, China’s rare earth exports fell 5.2% compared with the same period in 2024, totaling 45,290 tons.
Kraken Crypto Exchange Valued at $20 Billion in New Funding Round
US-based cryptocurrency exchange Kraken secured fresh funding on November 20, valuing the company at $20 billion – a significant rebound from post-FTX lows. The round highlights renewed investor appetite for established platforms amid regulatory clarity hopes under the new administration. Kraken plans expansion in derivatives and staking services. This comes as the broader crypto market reels from Bitcoin’s drop, underscoring divergence between infrastructure players and speculative tokens.
Gold Falls Below $4,070 on Money Easing Expectations
Gold prices fell below $4,070 per ounce on Thursday, following a two-day gain, as investors continued to pare back expectations of further monetary easing ahead of key jobs data. The recent FOMC minutes revealed a split among Federal Reserve officials over the need for rate cuts, torn between concerns about a weakening labor market and persistent inflation. Traders now assign just a 30% chance of a rate cut next month, down from 50% a day earlier. Meanwhile, the delayed September nonfarm payrolls report is set for release later today and is expected to show modest job growth. The BLS said it will skip the regular October employment report, as household survey data cannot be collected retroactively, and confirmed that October’s figures will be incorporated into the delayed November release. Adding to downward pressure, improved risk sentiment across equity markets has reduced gold’s appeal as a safe-haven asset.
Lower-Than-Expected CPI October Data For SA
South Africa’s annual consumer inflation rate (CPI)rose for the second month to 3.6% in October 2025 from 3.4% in September, though below analysts’ estimates of 3.7%. It was the highest reading since September 2024, mainly on account of prices of housing & utilities (4.5% vs 4.5% in September), notably electricity (8.2%) and water supply & other services (7%); alcoholic beverages & tobacco (4.5% vs 4.2%) and recreation & culture (3.4% vs 2.9%). Moreover, transportation prices rose 1.5%, marking the first increase in over a year, driven by a sharp rebound in fuels (3.3% vs -2.2%).
Meanwhile, some categories recorded smaller price-growth, primarily restaurants & accommodation services (2.1% vs 3%) and food & non-alcoholic beverages (3.9% vs 4.5%). The core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, eased to 3.1% in October 2025 from a seven-month high of 3.2% in September. On a monthly basis, the CPI edged up by 0.1%, following a 0.2% increase in the prior month.
Zimbabwe Commissions Major Tobacco Processing Plant Expansion
President Mnangagwa officially commissioned Cut Rag Processors’ multi-million-dollar expansion in Harare on November 19–20, positioning Zimbabwe as Africa’s largest tobacco processor. Following a record 355 million kg harvest worth $1.2 billion in 2025, the facility boosts value addition and exports. Mnangagwa hailed it as proof of the “open for business” policy succeeding, attracting FDI amid industrial revival efforts. The move aims to capture more revenue from raw tobacco sales.
Retail Sales in South Africa Accelerate
South Africa’s retail trade rose by 3.1% year-on-year in September 2025, accelerating from a downwardly revised 2.2% increase in August, almost in line with analysts’ forecasts of 3%. Key contributors included general dealers, up 1.9% (+0.9 points); textile, clothing, footwear, and leather goods retailers, up 4.4% (+0.7 points); and household furniture, appliances, and equipment retailers, up 11.4% (+0.5 points). On a seasonally adjusted monthly basis, retail trade was flat in September, after a revised 1.6% decrease in the prior month. Retail trade sales rose by 3.6% in the third quarter of 2025 compared with the third quarter of 2024.
Breaking News Shorts:
- South Africa’s 10-year government bond yield was around 8.67%, hovering near its lowest level since June 2021, in part reflecting expectations of an imminent interest rate cut by the South African Reserve Bank.
- A Boston Consulting Group report released today shows Africa outpacing other regions in Agentic AI deployment, with 35% of companies already using it and 44% planning soon. 82% of respondents view AI agents as colleagues, expecting greater decision-making authority.
- The Fund for Export Development in Africa (FEDA) revealed a major equity investment in Africa2Minerals Platform (A2MP) this morning, aimed at transforming mining and industrialisation. The deal targets critical minerals value chains, downstream processing, and regional integration
- South Africa’s citrus exports have surged 22% in 2025, reaching all-time highs despite global trade tensions, as reported November 20. Favourable weather and market access drove volumes, boosting rural economies and foreign exchange earnings.
Markets by Numbers
Currency markets show the US dollar mixed to slightly weaker this morning, with the Euro trading against the US dollar at 1.1578, the Pound at 1.3124 to the US dollar, the Yen currently at 155.64 to the dollar, and the rand (ZAR) at R17.23 to the US dollar (very close to your R17.19 — it’s bouncing in the 17.19–17.24 range today).
Commodities
- Gold futures → trading around $4,096 per ounce.
- Copper prices → steady around $4.96 per pound.
- Silver futures → around $51.31 per ounce.
- Platinum futures → around $1,550 per ounce, while Palladium is around $1,425 per ounce.
- Brent crude oil prices → currently $64.38, with WTI trading at $64.38; WTI ~$59.80).
- Cocoa futures → lower around $5,262 per ton.
- Coffee futures → slightly higher around $4.06 per pound.
Crypto Currencies
- Bitcoin → trading around $89,568 (highly volatile — dipped below $89k earlier, now recovering a touch).
- Ether → trading around $3,088.
- $Trumpcoin has dropped and trading around $6.63.
(All Prices quoted around 08H00 Central African Time)
Africa News Briefs:
- Kenyan authorities paid a network of trolls to threaten and intimidate young protesters during recent anti-government demonstrations, Amnesty International has said. A new report by the human rights organisation, has indicated that Kenyan government agencies and authorities paid a network of trolls to threaten and intimidate young protesters and also employed surveillance and disinformation to target organisers of the mass protests, which swept Kenya across 2024 and 2025. The demonstrations were driven largely by “Gen Z” activists who used social media platforms to mobilise.
- South African police and army units held a parade Wednesday involving helicopters, K-9 dog units and officers on motorcycles in a show of force ahead of expected protests around this weekend’s Group of 20 World Leaders in Johannesburg. South Africa has deployed 3,500 extra police officers and put the army on standby under its National Joint Operational and Intelligence Structure — a body that brings police, army and intelligence services together under one command to provide security for major events.
