Category: World

Texas has approved a significant $1.1 billion loan for a proposed natural gas-fired power plant in the Permian Basin, marking the largest financial commitment under a state programme designed to secure the state’s energy future. The funding, provided at low interest rates, aims to address the rising demand for electricity driven by both industrial growth and the increasing need for energy to power emerging technologies, including artificial intelligence.The planned facility, which will utilise natural gas, is set to become a

Gold prices escalated early on Saturday, drawing fresh investor interest as the U. S. Federal Reserve’s quarter-point rate reduction to the 3.75 %-4.00 % range reinforced the appeal of non-yielding assets. Spot gold edged up 0.3 % to US$4,034 an ounce, and bullion is positioned to record a third consecutive monthly gain driven by both bargain buying and institutional demand.The backdrop includes a sharp rise in quarterly demand to 1,313 tonnes, the highest level in the historical series for

Tech giant Google has announced a $2.85 million funding package to support artificial-intelligence skills development, education, online safety and cybersecurity in South Africa. The funding was disclosed at the AI Expo Africa event in Johannesburg and forms part of Google’s broader continental strategy to cultivate an AI-ready workforce and digital ecosystem.The funding will be channelled through Google. org, the company’s philanthropic arm, and it builds upon an earlier pledge of $37 million toward AI talent, agriculture, languages and research

The African Development Bank has approved a US$75 million financing package for Nyanza Light Metals Pty Ltd of South Africa to construct an 80 000-tonne-per-year titanium dioxide pigment production facility at the Richards Bay Industrial Development Zone. The plant will process locally and regionally sourced ilmenite ore into high-value pigment used in paints, coatings, cosmetics, food processing and medical applications.The financing deal includes US$50 million drawn from the AfDB’s own capital and US$25 million from the Africa Growing

President Donald Trump is advancing plans to nominate Ryan Baasch, a senior aide within the White House’s economic policy team, for a commissioner seat at the Federal Trade Commission. Sources familiar with the matter say the 37-year-old special assistant at the National Economic Council would step into the post vacated by Commissioner Melissa Holyoak, who is expected to be tapped for the role of U. S. Attorney for Utah.Baasch’s background centres on competition policy, technology and regulation, having

President Donald Trump has filed a formal appeal with New York’s Appellate Division, First Department, seeking to overturn his conviction for falsifying business records in the so-called hush-money case. In a 96-page brief submitted on Monday, his legal team argues that the trial in Manhattan was fatally compromised by judicial bias and improper admission of evidence.The conviction dates back to May 30, 2024, when a jury found Trump guilty on 34 counts stemming from efforts to reimburse his former

The national assembly’s Committee on Agriculture launched a week-long oversight tour of the Eastern Cape that began with a visit to the Eastern Cape Rural Development Agency-backed macadamia and citrus programmes, signalling heightened focus on agricultural transformation and small-farmer inclusion.The delegation arrived in the Raymond Mhlaba local municipality to meet traditional authority Chief Siseko Maqoma and inspect packhouse operations in the Kat River/Seymour area, before moving on to the Keiskammahoek zone’s Zanyokwe Farmer Production Support Unit and the community half-owned

Dubai hosted a high-level ministerial roundtable alongside the UAE‑Africa Tourism Investment Summit 2025, assembling officials from more than 20 African nations and the United Arab Emirates to outline an investment mapping totalling about USD 6 billion aimed at boosting tourism, aviation, transport, infrastructure and digital transformation across Africa. The joint ministerial statement forecasts creation of some 70,000 jobs across participating countries.At the meeting, Abdulla bin Touq Al Marri, Minister of Economy and Tourism, declared that the UAE and Africa

President Paul Biya has been declared the victor of Cameroon’s presidential election with 53.66 per cent of the vote, according to the country’s Constitutional Council. The announcement deepens political tension after opposition leader Issa Tchiroma Bakary claimed he had won the vote and alleged gunfire targeting civilians outside his home in Garoua.At 92 years old, Biya is now positioned to serve another seven-year term, extending his rule which began in 1982. His leadership, uninterrupted by presidential term limits since they

A high-level delegation from China plans to meet officials in Brussels this month to discuss tightening restrictions on rare earths and other critical minerals after the bloc flagged the controls as a threat to its key industrial sectors. The European Union has increased pressure on Beijing to restore stable access to materials essential for electric vehicles, semiconductors and defence capabilities while also advancing its own diversification plan to reduce dependency on China.China’s expanded export-licensing regime, announced earlier this month, added

A flurry of strategic manoeuvres has placed Warner Bros. Discovery at the heart of one of the media industry’s most consequential displacement moves, as multiple major technology and entertainment companies evaluate possible acquisition bids. The company said it has opened a formal review of strategic alternatives after receiving unsolicited interest for its full or partial business, setting the stage for what may become a landmark consolidation.Executives at Warner Bros. Discovery have initiated nondisclosure agreements and begun distributing financial data

LAGOS – Fintech company Moniepoint Inc. announced yesterday that it has raised more than US $200 million in a Series C equity financing round aimed at accelerating its expansion across Africa and into diaspora markets. The round was led by British private equity firm Development Partners International through its African Development Partners III fund, with participation from impact-investor LeapFrog Investments, Google Africa Investment Fund, global payments giant Visa Inc., the International Finance Corporation and other international

Cape Town — South Africa’s agricultural exports to the United States rose sharply in the second quarter of 2025, hitting US$161 million and marking a 26 per cent year-on-year increase despite the imposition of heavy tariffs by the U. S. administration. The growth is attributed to strong harvests and increased shipments of high-value produce, but concerns linger over how sustainable the trend is given the trade headwinds.The jump contrasts with the first quarter of 2025, when exports to the U.

The International Court of Justice in The Hague issued an advisory opinion stating that Gaza Strip’s occupying power must facilitate humanitarian relief efforts by the United Nations Relief and Works Agency for Palestine Refugees in the Near East and other UN bodies, and ensure the civilian population’s essential needs for food, water, shelter, fuel and medical care are met.Presiding Judge Yuji Iwasawa declared that Israel “is under the obligation to agree to and facilitate relief schemes provided

The Chief Executive of Tesla, Inc., Elon Musk, stands to become the first individual ever to reach a personal net worth of US$1 trillion if he fulfils the company’s newly unveiled incentive package that ties his compensation to the firm achieving an $8.5 trillion valuation.Tesla’s latest proxy filing reveals that Musk could be awarded up to 423.7 million shares, or roughly 12% of the company, if the firm hits performance thresholds over the next decade. The targets include raising the company’s

Africa is entering a phase of accelerated digital inclusion, backed by substantial investment and strategic partnerships, yet persistent infrastructure and cybersecurity gaps pose growing concerns. The World Bank Group recently co-chaired the launch of the Mobilizing Access to the Digital Economy Alliance: Africa, aimed at bringing 100 million individuals and enterprises online by 2034.According to the World Bank’s data, broadband access across Africa rose from 26 per cent in 2019 to 36 per cent in 2022 — evidence

Lagos-based fintech firm Moniepoint Inc. has secured more than USD 200 million in its Series C equity funding round, a move that underscores its rapid growth, profitability at scale and continental ambition. The funding was led by Development Partners International’s African Development III fund and included heavyweight participation from LeapFrog Investments, Visa Inc., Google LLC’s Africa Investment Fund, the International Finance Corporation, Proparco, Swedfund and others.Moniepoint said the capital will fuel its mission to deliver banking and payments

The Dubai-based airline Emirates has formally marked 25 years of its flight operations to Uganda, signalling both a milestone in the company’s growth in East Africa and its deeper entrenchment in the Ugandan travel market. Since its first landing in 2000, the carrier reports transporting 2.8 million passengers on 15,900 flights between Uganda’s capital region and Dubai.At launch, the service flew three times weekly, routed via Nairobi and later Addis Ababa, before becoming a direct link in 2007.