Business News Today
Wall Street Ends Higher on Greenland Framework Deal – Tariffs Averted
U.S. stocks rallied sharply, with the S&P 500 up 1.16% to 6,875.62, Dow gaining 1.21% to 49,077.23, and Nasdaq rising 1.18% to 23,224.83, marking the biggest daily gains in weeks. Investors cheered President Trump’s announcement of a “framework” agreement on Greenland with NATO allies, backing off threats of tariffs on eight European nations including Denmark and Germany. The de-escalation eased trade war fears, boosting equities while gold retreated and oil rose modestly.
Analysts note this reduces transatlantic tensions but warn of lingering risks if details falter, supporting broader financial sector recovery amid optimistic affordability policies. Asian and European stocks also saw extended recoveries after U.S. market gains, with emerging markets benefiting from lower U.S. Treasury yields and reduced tariff uncertainty.In his World Economic Forum speech in Davos, President Trump declared a conceptual “framework” agreement on Greenland’s future, emphasising no use of force and long-term benefits for U.S. and allied Arctic security.
Ugandan Oil Refinery Deal With UAE Firm Signed
Dubai-based investment firm Alpha MBM Investments LLC and Uganda National Oil Company (UNOC) have penned a crucial development agreement on the $4billion oil refinery project which is now advancing towards a Final Investment Decision, expected to be finalised by July this year, after more than a decade of delays.The refinery, planned for the Albertine Graben, is designed to process up to 60,000 barrels of crude oil per day once completed, with Uganda keen to cut its $2 billion annual petroleum products import bill, currently imported predominantly via Kenya.The UAE firm will hold a 60 per cent equity stake with UNOC retaining 40 per cent, according to the Uganda Investment Authority. The arrangement follows years of unsuccessful negotiations with previous partners and is being presented by Kampala as evidence of renewed investor confidence in the country’s oil sector.The refinery is anticipated to be completed in 2029-2030
Africa Tourism Leads Global Growth
The United Nations Tourism, have this week released its latest World Tourism Barometer, announcing that international tourist arrivals (overnight visitors) to Africa rose by 8% in 2025 compared to 2024. This positions Africa as the strongest-performing region globally for growth last year, outpacing the worldwide average.UN Tourism reported that global international tourist arrivals hit a new post-pandemic record of 1.52 billion in 2025, up 4% from 2024 (adding about 60 million more travelers). This reflects sustained high demand despite inflation in travel services and geopolitical uncertainties.
For Africa, the 8% increase to 81 million arrivals was driven particularly by North Africa (+11%), with standout performers including Morocco and Tunisia posting particularly strong results. Other countries like Egypt and South Africa also contributed significantly to the continent’s momentum, supported by improved air connectivity, easier visa policies, and growing interest in diverse experiences.
South African Rand Hits Strongest Level in Over Three Years
The South African rand surged 1% to around 16.26 per dollar reaching its strongest position against the US dollar since August 2022, outperforming most emerging market peers amid the global rally and de-escalation of U.S.-Europe tensions. South African government bond yields fell 11 basis points. The currency’s strength reflected improved risk appetite and domestic stability signals, boosting investor confidence in Africa’s largest economy following recent reforms. The South African 2025 average inflation rate hit a 21-year low of 3.2%, below the central bank’s 3.3% forecast, raising the possibility of a rate cut at its upcoming policy decision on January 29.
Year-on-year the rand has gained over 12% against the US dollar. Analysts are forecasting multiple Reserve Bank rate cuts in 2026, possibly starting March, to support growth. The data aligns with targets, boosting confidence in macroeconomic stability. South Africa’s retail trade data released yesterday indicated a 3.5% year-on-year growth in November 2025, after an upwardly revised 3% advance in October and above market estimates of a 2.5% increase.
Breaking News Shorts:
- Two mobile apps, NonUSA and Made O’Meter, that allow users to determine if products are made in America, then suggest local alternatives, have surged to the top 10 of the Danish App Store in recent days. The Danish App Store serves users in both Greenland and Denmark. NonUSA became the No. 1 app on Wednesday, after earlier jumping from No. 6 on Tuesday, up from No. 441 on January 9, 2026.
- Crypto custody firm BitGo priced its IPO at $18 per share, raising a $200 million target, with shares set to trade on NYSE as “BTGO” from January 22. The offering includes shares from BitGo and existing holders, amid surging digital asset interest.
- U.S. small-cap stocks led gains for a 13th straight session, with the Russell 2000 hitting all-time highs in afternoon trading yesterday. This reflected rotation into domestic-focused names amid eased macro fears and optimism for affordability policies
- Platinum futures fell more than -2% to around $2,430 per ounce this morning, retreating from an all-time high amid a broader pullback in precious metals. The decline followed US President Donald Trump’s latest remarks, in which he ruled out using military force to acquire Greenland and stepped back from proposed tariffs on European nations. Platinum prices are up over 156% in the last year.
- The world’s top cocoa producer – the Ivory Coast, saw its Cocoa Council announce plans to purchase 100,000 metric tons of surplus beans to support farmers amid market volatility. The move aims to stabilise prices and supply chains, critical for West African economies reliant on cocoa exports. Cocoa Futures prices dropped by over -4% today and have plunged by over -24% in the last month
Markets by Numbers
Currency markets indicate the US dollar trading sideways today after strengthening yesterday, with the Euro trading against the US dollar at 1.16960 while the Pound is trading at 1.34291 to the US dollar. The Yen is currently trading at 158.65 to the dollar. The rand (ZAR) is currently trading at around R16.27 to the dollar.
Commodities:
- Gold futures have slipped by -0.6% this morning, and currently trading at around $4801.40 per ounce.
- Copper prices are trending higher today, with prices currently around $57.980 per pound
- Silver futures are trending upwards after a small correction, and currently trading around $93.427 per ounce.
- Platinum futures are trending -2.2% lower this morning, and currently trading at $2438.60, While Palladium prices have dropped -1% this morning, and currently trading around $1862.00 per ounce.
- Brent crude oil prices are trending higher today, and currently at $65.30 with WTI trading higher at $60.74
- Cocoa futures have slid further by over -4% today, and currently trading around $4448 per ton.
- Coffee futures are currently trending higher today, and trading at around $347 per pound
Crypto Currencies:
- Bitcoin prices are trending upwards this morning, and trading at around $89971 per coin currently
- Ether prices are trending higher, and are currently trading around $302214.00
- $Trumpcoin are trending lower today, and currently trading around $4.933
(All prices quoted at approximately 07H15 Central African Time)
Africa News Briefs:
- The International Monetary Fund (IMF) projections highlight Africa hosting more high-growth economies (6%+) than any region in 2026, led by oil/mining booms in South Sudan and Guinea. Broader continent gains from precious metals prices, reforms and AfCFTA providing momentum, though risks like commodity volatility, regional conflicts and external shocks exist. The outlook supports growing investor interest in emerging opportunities.
- The UAE has solidified its position as a top investor in Africa’s renewable energy, acting as a hub for solar and wind projects continent-wide. This aligns with global transitions, boosting infrastructure in resource-rich nations like South Africa and Morocco. Investments support mining and manufacturing electrification, reducing carbon footprints. Gulf influence grows amid U.S.-China tensions, with partnerships emphasizing technology transfer. The sector’s expansion aids Africa’s 6%+ growth projections for 2026 in oil/mining-heavy economies like Guinea, per IMF forecasts.
