Analysts: Turmoil in world market is a result of end of cheap funding, not hard and fast shifts in US economy
While Friday’s weaker-than-expected US jobs data was the catalyst for the market sell-off, with Japan’s blue-chip Nikkei index on Monday suffering its biggest one-day rout since the 1987 Black Monday selloff, the employment report alone wasn’t weak enough to be the main driver of such violent moves, they added.
Cameroonian refugee Cindy Ngamba makes history with first ever medal for Refugee Olympic Team
Filippo Grandi, UN High Commissioner for Refugees (UNHCR) offered his congratulations immediately after Sunday’s fight “for reaching the boxing semi-finals at Paris 2024 and being assured of a medal – the first ever medal for the Refugee Olympic team”.
Why intelligence community fears Republicans’ ‘nonsensical’ policy proposals in Project 2025 put US elections at risk
During the 2020 election, amid conspiracy theories and hoaxes about Covid-19 and the presidential election, CISA flagged state and local officials’ concerns about online falsehoods to social media companies. This practice, dubbed “switchboarding,” outraged conservatives, who accused CISA of suppressing their speech. House Republicans produced a report on what they called “the weaponisation” of the agency, two GOP-led states sued the government (the US Supreme Court dismissed the case).
World financial markets jittery as investors are jolted by US job cut reports as recession looms
A report on Friday showing hiring by US employers slowed last month by much more than expected followed weak reports on manufacturing and construction and stoked fears the US economy was finally bending under the pressure of high interest rates. Investors worldwide sold stocks and moved to the safety of bonds, pushing bond yields sharply lower.
New survey shows Kenya private sector activity declined in July following public protests
Kenyan youth-led marches continued after Ruto withdrew the tax legislation, with protesters calling for the president to resign and an end to what they called widespread government corruption and inefficiencies.
Big Three lie? Questions raised about credit rating of Africa as experts doubt methodology
At the UN Development Programme, the agency instrumental in the push to get credit ratings for sub-Saharan nations, senior economist Raymond Gilpin disagreed, saying it was “unconscionable” that the Big Three didn’t have a larger presence on the continent. At the same time, he said he saw no bias in the way the Big Three apply their methodologies, and he echoed other officials and academics when he told said that the rating agencies’ work can be hampered by local realities.
Youth protests force Bangladeshi PM Sheikh Hasina to resign, flee to India as interim government is formed
Media reports said she had flown in a military helicopter with her sister and was headed to India. The CNN News 18 television channel said she had landed in Agartala, the capital of India’s northeastern state of Tripura. The report could not be immediately verified.
How Ugandan politics has evolved since the ‘Nairobi Peace Jokes’ through bloodbath and false hope to opposition-propped ‘eternal president’
President Tibuhaburwa Museveni may be an elected President but he remains 100 per cent military in heart, mind and actions, and he is the champion of the de-democratisation and militarisation processes in Uganda. He takes full advantage of the fact that the Uganda Constitution 1995, whose making he presided over, invests all power and authority over everything – underground and above-ground – including power and authority. Power is concentrated in the hands of the institution of the presidency, which he has captured for the past 38 years.
Nigeria’s President Tinubu calls for end to hardship protests, says he won’t stand ‘idly’ as looting persists
The protests, which began on Thursday, have been accompanied by reports of looting and vandalism, as well as accusations that security forces have used excessive force. Amnesty International has reported the deaths of nine protesters in clashes with police, while another four were killed by a bomb. The Nigerian police denied the Amnesty report.
As African leaders fret about biased credit rating, here’s how continent’s craving for modernity fuelled debt bomb
Essential to the plan were the “Big Three” US-based credit rating agencies – S&P Global Ratings, Moody’s Ratings and Fitch Ratings, which together account for more than 90 per cent of global ratings. The rating agencies collected fees for their services and began applying their complex analyses to the region.
