Category: World

Demand for physical gold is diverging sharply across regions, with US investors cashing in on their bullion holdings while Asian buyers ramp up their purchases. Data shows US retail demand for gold bars and coins dropped to roughly 19.3 tonnes in the first quarter of 2025 — a five‑year low, down 22% year‑on‑year — as Americans took advantage of record prices to realise gains.Meanwhile, in Asia, appetite for physical gold remains robust. Chinese bar and coin demand reached its second‑highest

Afreximbank has confirmed the appointment of Dr George Elombi, its Executive Vice‑President for Governance, Legal and Corporate Services, as the institution’s fourth President and Chairman of the Board, effective September 2025. The decision was ratified during the 32nd Afreximbank Group Annual Meetings held in Abuja, Nigeria, from 25 to 28 June, culminating in formal shareholder approval on 28 June.A Cameroonian national with nearly three decades of service at Afreximbank, Dr Elombi entered the Bank in 1996 as a legal officer

Tens of thousands gathered in Belgrade on Saturday to demand early parliamentary elections and an end to President Aleksandar Vučić’s 12‑year hold on power, prompting a heavy police deployment and tense confrontations. reuters.com apnews.com apnews.comAuthorities stationed riot police in full gear around government buildings and Parliament, while supporters of the president camped in Pionirski Park, bolstering the political standoff. After the main protest ended at around 22:00 local time, clashes erupted: demonstrators hurled bottles, flares and rocks, and police responded with pepper spray,

Trade between the European Union and the East African Community reached €7.7 billion in 2024, marking a robust surge in economic engagement. Data from the EAC Secretariat and the European Commission reveal that Kenya led this growth, accounting for 43 per cent of total EAC trade with Europe.Kenya’s ascent to prominence has been propelled by its position as the region’s primary link to European markets. Under the Economic Partnership Agreement initiated in July 2024, it became the first EAC member to

UNESCO has mobilised global policymakers, academics and civil society leaders in Bangkok to cement the adoption of its 2021 Recommendation on the Ethics of Artificial Intelligence, the world’s only universal AI ethics framework endorsed by all 194 member states. With over 1,200 delegates from 88 nations and more than 35 ministers present, the third Global Forum on the Ethics of AI underlined the urgency of embedding ethics into AI governance amid growing geopolitical tension between the United States and China.UNESCO

Seventeen Nigerian soldiers have died and ten more were wounded after coordinated attacks on three military bases in Niger and Kaduna states, the army confirmed. The assaults began in the early hours of Tuesday, as heavily armed gunmen stormed forward operating posts in Kwanar Dutse and Boka, along with a base in neighbouring Kaduna State. Combat persisted for several hours under heavy fire.Army spokesperson Lieutenant Colonel Appolonia Anele stated that the attackers numbered around 300 and emerged from Kwanar

Ghana’s parliament has given approval to a $2.8 billion debt restructuring agreement with 25 creditor nations, including China, France, the United States, Germany and the United Kingdom. This authorisation is vital for unlocking further disbursements from a $3 billion IMF-backed bailout programme initiated in May 2023.Lawmakers, endorsing the restructuring unanimously, approved measures under a memorandum of understanding signed in January 2025 that reschedule debt payments falling due between 20 December 2022 and 31 December 2026. Repayment has been deferred until the 2039–2043 period, affording Ghana over 15 years

Dutch courts are set to rule on a class‑action lawsuit brought by Stichting Massaschade & Consument, which claims Sony has leveraged its dominance in the PlayStation ecosystem to impose inflated digital pricing, burdening an estimated 1.7 million gamers and costing consumers at least €435 million since 2013. At the heart of the case is the allegation that digital editions of games—often bought via diskless PS5 consoles—are around 47 per cent more expensive than their physical counterparts, despite significantly lower distribution costs.The Massaschade &

Nairobi and towns across Kenya witnessed widespread demonstrations on 25 June as Kenyans marked one year since thousands breached the national parliament—a flashpoint sparked by anger over proposed tax hikes. The gatherings, under tight security, paid tribute to those killed and called for reform amid enduring grievances on police conduct, economic hardship and shrinking civic freedoms.Protesters—many of them young—held marches, candlelit vigils and laid flowers outside key government offices and parliament, expressing frustration as over 60 civilians were shot dead

Senegal’s public debt rose sharply to unsustainable levels by the end of March 2025, the finance ministry disclosed, underscoring an ongoing struggle between escalating expenditures and faltering revenue streams. Debt servicing costs soared by nearly 24 per cent during the first quarter of 2025, adding to a 44.5 per cent rise already tallied in the final quarter of 2024—bringing repayments to approximately US $1.4 billion last quarter.Two-thirds of the debt is held by commercial banks, with the remainder reflecting accumulated arrears to

A wave of San Francisco‑based ad tech companies is spearheading a shift in digital marketing, harnessing AI, automation and privacy‑first solutions to transform advertising. Demandbase, Marin Software, Metric Theory, Segment, Smartly.io, AdRoll, AdEspresso, Liftoff+Vungle and Quantcast are emerging as key players influencing how brands reach audiences at scale.Demandbase, founded in 2007, has cemented its status as a leader in account‑based marketing for B2B enterprises. Its platform offers data‑driven DSP capabilities and AI‑powered insights that identify and engage high‑value accounts. Recognition

LAGOS — Rack Centre’s Lagos campus has entered a strategic collocation deal with TelCables Nigeria, a subsidiary of Angola Cables, marking a significant enhancement of West Africa’s digital infrastructure. The agreement brings high-capacity network infrastructure and four major subsea cable systems—SACS, MONET, SEBRAS and EllaLink—directly into Rack Centre’s campus, securing faster, lower-latency routes to Europe, the Americas and Latin America.Fernando Fernandes, chief executive of TelCables Nigeria and West Africa, highlighted the strategic value of the SACS route to Latin America:

Uganda achieved a significant leap in coffee export earnings and volumes during May, driven by a strong harvest in key growing regions and sustained high global prices. The May coffee shipments reached 793,445 bags of 60 kg—an increase of 44% year‑on‑year—while export earnings soared to US$243.95 million, marking a 92% rise compared to May 2024.The Ministry of Agriculture, Animal Industry and Fisheries attributes the performance to robust output from the main harvest in Masaka and the southwestern districts, coupled with supportive international market conditions.

Ethiopia’s financial sector has entered a decisive phase as Nib International Bank and Arifpay Financial Technologies formally join forces to upscale the nation’s digital payment infrastructure. With card acceptance, a merchant‑centric app and payment gateway on the launchpad, the alliance aims to expand financial inclusion, support small and medium enterprises and attract foreign currency inflows.Nib International Bank, the country’s sixth‑largest private lender, brings to the table its extensive branch network and newly launched digital platforms—Nib Amber Pay and Paystream

Iran has launched a new wave of missile and drone strikes against Israel, following U.S. airstrikes that obliterated key Iranian nuclear facilities under Operation Midnight Hammer. The ripple effects are already being felt in global oil markets, while diplomatic channels strain under mounting pressure.The bombardment hit Israeli cities including Tel Aviv and Ashdod, with satellite monitoring confirming sirens and intercepted projectiles. Iran disclosed the deployment of dozens of drone strikes featuring anti-fortification warheads, claiming successful strikes on military installations. Iran’s

A magnitude 5.7 earthquake struck the New Britain region of Papua New Guinea on Monday, registering at a depth of just 10 km, according to the European Mediterranean Seismological Centre. The tremor occurred at approximately 01:17 pm local time, near New Britain Island, and while shallow, it did not prompt any tsunami alerts.Seismologists note that shallow quakes—those less than 70 km deep—tend to produce more intense shaking at the surface. However, initial satellite assessments and regional monitoring systems have not reported significant structural damage or

China is confronting significant disruption to its Iranian crude oil supply, risking both its energy security and geopolitical ambitions in the Middle East. With over 90 per cent of Iran’s oil exports directed to China via Kpler, the contraction of that flow places Beijing’s $400 billion 2021 cooperation deal in jeopardy.Major Chinese independent refiners, the so‑called “teapots” in Shandong province, are enduring mounting losses as deepening discounts on Iranian oil clash with soaring global prices. Discounts have widened to between $3.30 and $3.50

Niger’s military-led government announced on 19 June 2025 that it is nationalising the Somair uranium joint venture, formerly dominated by French nuclear fuel company Orano. The announcement, aired on national television, declared that the State will now hold full ownership and management of the mine, citing inappropriate and inequitable conduct by Orano.Authorities assert that the 63 per cent stake held by Orano—alongside the remaining 37 per cent via state firm Sopamin—has been improperly leveraged. The accord underpinning Somair’s operations expired in December 2023, and

A dramatic explosion ripped through SpaceX’s Starbase test site near Brownsville, Texas, at approximately 11 p.m. Central Time on Wednesday, June 18, when the Starship prototype designated Ship 36 detonated during a routine static‑fire test ahead of its anticipated tenth flight. The stainless‑steel vehicle was engulfed in flames following a “major anomaly” while being fuel‑led for a multiple‑engine ignition sequence, according to SpaceX. All personnel remained outside the secured perimeter and were confirmed safe, and there were no hazards reported to neighbouring