TRADE WARS - AFRICA DAILY

BRICS summit to focus on Africa, without Macron

Aug 07, 2023 (AFP)

The continent has emerged as a renewed diplomatic battleground, with the West, Russia and China vying for influence amid heightened competition for minerals and...

NZ election frontrunner backs Chinese cash for roads

Aug 04, 2023 (AFP)

Christopher Luxon, from New Zealand's right-of-centre National Party, is currently ahead in opinion polls against the incumbent centre-left government led by Pr...

Asian markets mixed as traders nervously await US jobs report

Aug 04, 2023 (AFP)

The euphoria of last week -- fuelled by optimism the US central bank's tightening cycle was over, as well as China's pledges of economic stimulus -- has given w...

China relaxes visa, urban residency rules to boost economy

Aug 04, 2023 (AFP)

The relaxations aim to "promote the free movement" of "people, vehicles, information and data", an official from the Ministry of Public Security said Thursday. ...

Drought-hit Panama Canal must 'adapt or die' as water levels drop

Aug 04, 2023 (AFP)

The canal relies on rainwater to move ships through a series of locks that function like water elevators, raising the vessels up and over the continent between ...

Stocks struggle to recover from selloff, Fed rate fears linger

Aug 03, 2023 (AFP)

While the fallout from Fitch's US debt rating downgrade settled, profit-taking and rising Treasury yields kept pressure on investors heading into what is consid...

Markets drop as US downgrade jolts latest rally

Aug 02, 2023 (AFP)

However, high hopes that the Federal Reserve was at or near the end of its interest rate hiking cycle and a still-resilient economy meant the mood on trading fl...

House lawmakers accuse prominent investment firms of steering U.S. dollars to China

Aug 02, 2023 (UPI)

The committee sent letters to Morgan Stanley Capital International and BlackRock -- two of the world's preeminent financial institutions in the asset management...

Senior US, Chinese officials meet in Washington amid diplomatic thaw

Aug 01, 2023 (AFP)

Yang Tao, director general of the Chinese Foreign Ministry's North American and Oceanian Affairs Department, was hosted at State Department headquarters by US A...

HSBC reports bumper profits on rising interest rates

Aug 01, 2023 (AFP)

The massive jump from $8.8 billion in the same period a year ago came as central banks around the world have ramped up borrowing costs to fight inflation, helpi...

Asian markets rise as positive mood flows across trading floors

Aug 01, 2023 (AFP)

A series of positive data out of Washington in recent weeks, particularly falling inflation, has been compounded by China's recent promises of stimulus measures...

US invites China's new foreign minister Wang Yi to visit

Aug 01, 2023 (AFP)

The invitation was extended during a meeting on Monday in Washington between senior American and Chinese officials, State Department spokesman Matthew Miller sa...

China announces consumption-boosting measures as data disappoints

Jul 31, 2023 (AFP)

Official figures released Monday showed factory activity contracting for the fourth straight month in July, adding to a run of dismal economic data that has ram...

China, Pakistan to mark mega infrastructure anniversary

Jul 30, 2023 (AFP)

Since its initiation in 2013, the China-Pakistan Economic Corridor (CPEC) has seen tens of billions of dollars funnelled into massive transport, energy and infr...

Decoupling from China 'an illusion', French finance minister says

Jul 30, 2023 (AFP)

"We are totally opposed to the idea of decoupling. Decoupling is an illusion," Finance Minister Bruno Le Maire told reporters at the French embassy. "There is n...

Japan presses Sri Lanka to secure China debt deal

Jul 29, 2023 (AFP)

Tokyo's foreign minister Yoshimasa Hayashi welcomed economic reforms under the auspices of an International Monetary Fund bailout but said Sri Lanka needed to p...

Yen swings after Bank of Japan policy tweak, Asian equities mixed

Jul 28, 2023 (AFP)

After a closely watched meeting, the Bank of Japan said it would allow "greater flexibility" in government bond markets, having allowed them to move in a tight ...

Recovering China sales boost profits at Prada

Jul 27, 2023 (AFP)

Net profits soard 62 percent from the same period last year to 305 million euros ($335 million), while revenue rose 17 percent to 2.23 billion euros, driven by ...

Pakistan granted rollover on $2.4bn Chinese loan: minister

Jul 27, 2023 (AFP)

Soaring inflation, shrinking dollar reserves and crippling foreign debt led Pakistan to the brink of default before a pivotal $3 billion IMF bailout was granted...

Markets mixed as Fed rate decision looms, China rally fades

Jul 26, 2023 (AFP)

Regional equities surged Tuesday in response to Beijing's pledges of stimulus, particularly the property sector, after a string of readings showed the post-Covi...