Major International Business Headlines Brief ::: 09 Jul 2025

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Major International Business Headlines Brief :::  09 Jul  2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  African Leaders Urge Nuclear Energy Adoption to Drive Growth

ü  Ethiopia: African Single Electricity Market Program Gains Momentum

ü  Nigeria: Dangote Refinery to End Crude Importation By Year-End - Report

ü  South Africa: Trump Imposes 30% Tariff on South African Goods 

ü  Egypt Once Again Targets 'Red Sea Security', Vows Stronger Military
Relations With Somalia

ü  Nigeria: ASUU Threatens Nationwide Strike Over Delayed Salaries

ü  Nigeria's GTCO to List On London Stock Exchange Amid $100m Offering

ü  Liberia: Chamber of Mines Lauds GOL for U.S.$1.8b Ivanhoe Atlantic Deal

ü  Uganda: Moroto Residents Decry Long Power Blackout

ü  Gambia Generates Over $60 Million From Oil Exploration Licenses in Eight
Years

ü  Africa: Full List - 3 African Countries Ranked Among World's Best
Countries

ü  US will hike tariffs on copper to 50%, Trump says

ü  Trump delays tariffs as the rest of the world plays hardball

ü  Action urged to halt exodus of firms leaving UK

 


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African Leaders Urge Nuclear Energy Adoption to Drive Growth

Addis Ababa, — Participants of African delegates at the Nuclear Energy
Innovation Summit for Africa (NEISA 2025) underway in the Rwandan capital of
Kigali called for the accelerated adoption of nuclear energy to meet the
continent's rising energy demand, support industrialization, and drive
sustainable development.

 

As the continent's population is expected to exceed 3 billion in the next
four decades, leaders stressed the importance of clean, reliable and
scalable energy, particularly nuclear power.

 

"The future of the African energy landscape will continue to be driven by
increasing energy demand and population growth," said Rwandan Prime Minister
Edouard Ngirente during the opening ceremony.

 

The Prime Minister stressed the significance of uniting African nations in
adopting renewable and environmentally friendly energy sources.

 

He underscored their potential to fast-track development milestones while
preserving the environment.

 

Ngirente noted that 600 million Africans currently lack access to
electricity. He highlighted nuclear energy as a key sustainable and
non-polluting resource that can play a transformative role in boosting
energy access and addressing climate challenges.

 

The Prime Minister called on African leaders to seize the opportunities
offered by nuclear technologies, emphasizing the importance of establishing
frameworks that can accelerate growth and foster inclusive development
across the continent.

 

Running through Tuesday, the summit seeks to elevate nuclear energy as a key
pillar of Africa's sustainable development.

 

NEISA 2025 is organized in collaboration with key international
institutions, including the International Atomic Energy Agency, United
Nations Economic Commission for Africa, Nuclear Energy Agency, World Nuclear
Association, and leading regional financial institutions.

 

This summit brought together policymakers, energy leaders, and nuclear
experts from over 40 countries to discuss developing small modular nuclear
power plants (SMRs/MMRs).

 

These cutting-edge facilities aim to drive energy self-sufficiency, expand
access to clean electricity, combat climate change, and further industrial
growth across the continent.

 

Read the original article on ENA.

 

 

 

 

Ethiopia: African Single Electricity Market Program Gains Momentum

Addis Ababa, — The African Single Electricity Market (AfSEM), a continental
energy trading program that aims to interconnect all 55 African Union (AU)
members through an efficient and affordable electricity market, is well in
progress, AU officials remarked.

 

The remarks were made at the High-Level Technical Meeting on AfSEM and the
African Continental Power System Master Plan on Monday at the AU
headquarters in Addis Ababa, the capital of Ethiopia.

 

Speaking at the event, Kamugisha Kazaura, director of infrastructure and
energy at the AU Commission, said the institutional and operational
foundation has been laid for a unified African electricity market, which
delivers clean, reliable and affordable power to every corner of the
continent.

 

"Activities are progressing well to define a common path forward to address
critical technical and regulatory gaps and explore continental strategies
for renewable energy deployment, trading, and manufacturing," Kazaura said.

 

Noting that more than 600 million Africans are still without access to
electricity, Kazaura called for urgent and sustainable action to meet
Africa's rapidly growing energy demand through the full implementation of
the AfSEM.

 

Principal program officer at the African Union Development Agency-New
Partnership for African Development, Simbini Tichakunda said Africa is
standing on the brink of an energy revolution that promises to transform the
continent's economic future.

 

"The dream of AfSEM is coming to life. The 400 KV seamless power integration
between Kenya and Tanzania, linking the grids of Kenya and Tanzania and
synchronizing them with those of Uganda, Rwanda, Burundi and the Democratic
Republic of the Congo, is a major step forward," Tichakunda noted.

 

He said the Eastern African Power Pool will be connected to the Southern
African Power Pool by 2027.

 

The two day high-level technical meeting aims to operationalize AfSEM and
CMP, ensuring alignment of strategic, technical, regulatory, and financial
elements to achieve the African Union's energy transition goals.

 

Key stakeholders are participating at the conference to drive policy
harmonization, mobilize investments, and define implementation roadmaps. The
meeting will update Member States on progress and seek political support for
the energy transition.

 

Read the original article on ENA.

 

 

 

Nigeria: Dangote Refinery to End Crude Importation By Year-End - Report

The Dangote Refinery may end crude oil import as it considers sourcing the
entire crude required for the 650,000-barrel-per-day refinery capacity
in-country.

 

According to a Bloomberg report, the refinery will rely entirely on Nigerian
crude oil by the end of 2025.

 

The refinery received about half of its crude in June from local producers
who will be able to sell more to the facility as their foreign supply
obligations end.

 

"We expect some of the long-term contracts will expire," vice president at
Dangote Industries, Devakumar Edwin said in an interview last week at the
sprawling site. "Personally, and as a company, we expect that before the end
of the year we can transition 100 per cent to local crude."

 

Also, petrol imports by Nigeria declined to a record low in June, according
to Kpler tracking data.

 

The report attributed the fall to rising output from the Dangote refinery
which sharply reduced demand for the product from the EU, UK and Norway.

 

The drop in Nigerian buying pulled overall West African imports of European
petrol to a four-month low of 926,000 tonnes, down from 1.315 million tonnes
in May and 20 per cent lower year-on-year.

 

Dangote sold the idea of the massive plant as a way for Nigeria, the top oil
producer on the continent, to stop sending barrels to Europe only to be
refined and shipped back as costly imports -- a process rife with
corruption.

 

The gradual ramp-up of the refinery has already made Nigeria a net exporter
of petroleum products, with room to go before reaching capacity. Still, the
effort required large quantities of overseas crude after domestic traders
failed to meet demand.

 

Nigeria has seen a withdrawal of oil majors from onshore and shallow water
fields that have been taken over by local companies with fewer resources.

 

Meanwhile, supply contracts with foreign companies, crude theft and attacks
on pipelines in the Niger Delta have curbed production reducing the
availability of oil at home.

 

Since the Dangote facility opened, the company has bought crude from Brazil,
Angola, Ghana and Equatorial Guinea, according to Edwin. Improved relations
between the refinery, local oil traders and the government will result in a
steady supply of Nigerian crude, he said.

 

That still requires a significant increase of local oil over the coming
months.

 

In June, the refinery sourced 53 per cent of its crude supply from domestic
producers and 47 per cent from the US, according to Bloomberg.

 

The plant is currently processing 550,000 barrels of crude a day, according
to Edwin.

 

Dangote was scheduled to take five cargoes from Nigeria's state oil company
in July, the same amount that it's due to take up in August, according to a
list of cargo allocations. Each shipment holds almost a million barrels of
crude.

 

Nigeria, long the region's largest petro importer, slipped behind Togo last
month as the Dangote refinery hit its highest monthly run rate since coming
online.

 

The country is approaching a turning point in its petrol trade balance.

 

June arrivals into Nigeria from Europe fell by 56 per cent on the month to
231,000 tons-- the lowest recorded by Kpler.

 

It also imported 28,000 tonnes from offshore Lome and 12,000t from Houston,
leaving a total of 271,000t.

 

At the same time, Dangote loaded a record 252,000 tonnes of petrol for
export last month.

 

This included 90,000 tonnes aboard the Pis Kerinci to Sohar, Oman; 89,000t
on the Hafnia Larissa to Pasir Gudang, Malaysia; 35,000 tonnes on the Sabaek
to Abidjan, Ivory Coast; and a further 39,000 tonnes aboard the Sabaek,
which has yet to discharge.

 

The country could be on the verge of flipping to net exporter status, given
the Dangote refinery has "extra plant capacity to produce gasoline",
according to Dangote Group executive director Edwin Devakumar. The plant's
naphtha hydrotreating unit has "flexibility to achieve additional
production", and Dangote has recently begun buying naphtha to support petrol
output, he said.

 

The fall in Nigerian demand for petrol imports, combined with
weaker-than-expected US consumption, is raising concerns over outlet options
for European gasoline this summer, a European trader told Argus. Europe
remains a large net exporter of the product.

 

Benchmark non-oxy gasoline barge cracks to front-month Ice Brent crude
futures averaged $14.73/bl between 1-4 July, broadly steady on the year and
slightly up from $14.62/bl in the same period of 2024.

 

Read the original article on Leadership.

 

 

 

 

South Africa: Trump Imposes 30% Tariff on South African Goods 

United States President Donald Trump is set to impose a 30% tariff on all
South African goods as he continues to enforce his reciprocal duties,
reports EWN. He informed President Cyril Ramaphosa that South Africa has
long benefited from trade deficits through non-tariff barriers. According to
Trump, the tariffs will create a more balanced trade system, and retaliation
could result in even higher tariffs. Despite South Africa's efforts to
reverse it, the new rate remains in place. Ramaphosa responded to the letter
by disputing the interpretation of the balance of trade between the US and
his country.

 

Trial of Alleged July 2021 Unrest Instigator Begins

 

The trial of Bonginkosi Khanyile, accused of instigating the July 2021
unrest, is set to begin today in the Durban Regional Court, reports SABC
News. Khanyile, out on R5,000 bail, faces charges of incitement to commit
public violence and breaching the Disaster Management Act. He allegedly
urged the release of former president Jacob Zuma, who had just begun serving
a sentence for contempt of court. The unrest started in KwaZulu-Natal and
spread to Gauteng, causing massive looting and property damage worth
billions. A report released last year by the South African Human Rights
Commission and the CRL Commission found the unrest had racial undertones,
particularly between Black and Indian communities.

 

Gun Control Failure Blamed for Mitchells Plain Gang Shootings

 

Gun Free South Africa has blamed a failure to control firearm access for the
recent rise in gang-related shootings in Mitchells Plain, reports EWN. Seven
people have been killed in suspected gang violence. Director Stanley Maphosa
said many illegal firearms originate from legal sources such as
manufacturers, police, and security services. He called for stronger
enforcement of the Firearms Control Act, community disarmament, and
investment in violence prevention.

 

Joburg Water Urges Patience as Supply Slowly Restored

 

Joburg Water has asked residents in Yeoville, Berea, and Hillbrow to be
patient as water pressure gradually returns after more than a week without
supply, reports EWN. The disruption was due to maintenance work, which has
now been completed. Technicians from Joburg Water and Rand Water were on
site at the Yeoville reservoir to implement final interventions and restore
normal water flow.

 

More South African news

 

 

 

 

Egypt Once Again Targets 'Red Sea Security', Vows Stronger Military
Relations With Somalia

Addis Abeba — Egyptian President Abdel Fattah el-Sisi issued yet another
message targeting red Sea security on Sunday, pledging to work for its
safety while vowing to intensify military support to Somalia.

 

The remarks came after high-level talks with Somali President Hassan Sheikh
Mohamud in the Egyptian coastal city of El Alamein, where both leaders
pledged their strategic alliance amid mounting tensions in the Horn of
Africa.

 

The official readout from Egypt says the two leaders discussed in detail on
ways of deepening bilateral ties and addressing regional developments,
particularly the security and stability of Somalia, the Horn of Africa, and
the Red Sea region, repeating President el-Sisi's earlier stand targeting
Ethiopia's bid to get access to the Red Sea.

 

The President's remarks on the so-called safety and stability of the Horn of
Africa, and the Red Sea region became much more propounded after Ethiopia
signed a memorandum of understanding with Somaliland in early 2024, which
initially offered Addis Abeba access to a leased military base and
commercial port in exchange for possible recognition of Somaliland.

 

Although the MoU has since been muted on both sides, Ethiopia's continued
pursuit of direct access to the sea is still met with suspicious hostilities
both from Egypt and Somalia. Somalia had denounced the deal as a violation
of its territorial integrity, although Turkish mediated talks played a role
in repairing souring diplomatic relations; and Egypt has warned it could
destabilize the region and threaten Suez Canal-bound trade.

 

Beyond the diplomatic rhetoric, Egypt has since consolidated its expanding
military footprint in Somalia when it signed a bilateral defense agreement
in August 2024. Since then Cairo has been training and arming Somali special
forces fighting the al-Shabab insurgency and Egyptian forces have become
part of the African Union Support and Stabilization Mission in Somalia
(AUSSONM), an outcome welcomed by President Mohamud.

 

This was further followed by a tripartite summit in Asmara between Egypt,
Somalia, and Eritrea, where the three countries agreed to enhance
cooperation to protect Somalia's land and maritime borders. The joint
statement issued at the time emphasized "unequivocal respect for the
sovereignty, independence, and territorial integrity of countries in the
region."

 

In a readout following Sunday's talks, Villa Somalia said the two leaders
are committed to enhancing cooperation in key sectors including security,
education, trade, fisheries, and energy, while Hassan Sheikh posted on X the
two sides "explored various avenues to strengthen Somalia-Egypt ties across
key strategic areas."

 

Despite these regional backlash, Ethiopia maintains that its quest for
direct access to sea are rooted in principles of reciprocity and mutual
benefit.

 

In a briefing delivered to parliamentarians on 03 July, Prime Minister Abiy
Ahmed repeated his earlier remarks that Ethiopia's pursuit of gaining access
to the sea remains peaceful but said the country has a sovereign right to
the access.

 

"Our desire is to sow good seeds. We want access to sea based on the
principle of mutual benefit, not by force. We want to achieve everything
peacefully. We respect their sovereignty," he said, adding that "Ethiopia is
a sovereign country, and for this to be complete, our neighbors must respond
positively for Ethiopia to get access to a sea."

 

Read the original article on Addis Standard.

 

 

 

 

Nigeria: ASUU Threatens Nationwide Strike Over Delayed Salaries

The president said the union is prepared to escalate its action if the
federal government fails to pay lecturers' July salaries by the end of the
month

 

The Academic Staff Union of Universities (ASUU) has directed its members in
branches where June salaries remain unpaid to stay away from work, warning
that a nationwide strike could commence if the government continues to delay
wage payments.

 

In an interview with PREMIUM TIMES on Tuesday, Chris Piwuna, ASUU President,
clarified that the union is not currently on an indefinite strike, contrary
to what is seen online.

 

However, Mr Piwuna said the union is prepared to escalate its action if the
federal government fails to pay lecturers' July salaries by the end of the
month.

 

"This is not an indefinite strike. We have told our members to go by the 'no
pay, no work' policy. If salaries are not paid by the end of July, we will
stop work again. It's that simple," Mr Piwuna said.

 

Directive targets unpaid branches

 

The directive currently affects university branches where salaries for June
have not been paid.

 

Mr Piwuna confirmed that some branches, such as the University of Abuja,
have resumed academic activities after receiving their delayed June
payments.

 

"Those who commenced the strike and their salaries have been paid are back
to work. At least I can confirm to you that the University of Jos is back to
work," he said.

 

"Also, UniAbuja is not on strike because their salaries were paid yesterday.
And many others across the country that their salaries have been paid. But
all those who are being owed June salary are not at work."

 

He added that due to the delayed salaries, their members have been unable to
carry out their duties as lecturers.

 

Read the original article on Premium Times.

 

 

 

 

Nigeria's GTCO to List On London Stock Exchange Amid $100m Offering

The dual listing is accompanied by a $100 million capital raise through an
accelerated bookbuild offering led by Citigroup

Proceeds will help recapitalize GTBank Nigeria to meet the N500 billion
capital threshold for international banking licenses

GTCO Holdings will begin trading on the London Stock Exchange (LSE) at 8:00
a.m. on July 9, becoming the first Nigerian banking group to directly list
all its ordinary shares in London.

 

The dual listing is accompanied by a $100 million capital raise through an
accelerated bookbuild offering led by Citigroup. The offer, launched on July
2, targets institutional investors in the UK, US, and other markets.
Proceeds will help recapitalize GTBank Nigeria to meet the N500 billion
capital threshold for international banking licenses.

 

As part of the move, GTCO will terminate its Global Depositary Receipts
(GDR) program, active since 2007. GDR holders have until July 23 to exchange
their instruments for depositary interests, with the GDR delisting scheduled
for July 30. GTCO follows a similar path to Seplat and Airtel Africa, which
also maintain dual listings on the NGX and LSE.

 

The domestic listing on the Nigerian Exchange (NGX) under the symbol "GTCO"
remains unaffected. Shares will be transferable between the NGX and LSE,
subject to regulatory conditions.

 

Daba is Africa's leading investment platform for private and public markets.

 

Key Takeaways

 

GTCO's direct listing on the LSE reflects a strategic shift to access deeper
international capital markets amid rising regulatory demands. The $100
million raise supports Nigeria's Central Bank recapitalization directive,
which has pushed top banks to scale capital buffers ahead of 2026. GTCO's
move away from a GDR structure signals greater market integration, offering
investors direct access to shares on both the LSE and NGX. Dual listings
have become a key pathway for African firms seeking global visibility
without abandoning domestic investors. For GTCO, this means broader investor
reach, more liquidity, and alignment with reforms aimed at strengthening
Nigeria's financial system.

 

Read the original article on Daba Finance.

 

 

 

 

Liberia: Chamber of Mines Lauds GOL for U.S.$1.8b Ivanhoe Atlantic Deal

The Liberia Chamber of Mines has extended heartfelt congratulations to the
Government of Liberia and U.S.-owned Ivanhoe Atlantic Inc. following the
signing of a landmark US$1.8 billion concession and access agreement,
describing the deal as a "transformational step in Liberia's economic
development."

 

The monumental agreement -- one of the largest private sector investments in
Liberia's post-war history -- cements Ivanhoe Atlantic's commitment to
building and operating mining infrastructure, including the development of a
multi-user rail and port system. The project aligns closely with President
Joseph N. Boakai's national vision to modernize Liberia's infrastructure,
promote regional trade, and attract sustainable foreign investment.

 

In a statement issued on Monday, the President of the Liberia Chamber of
Mines, Mr. Amara Kamara, lauded the agreement as a milestone achievement
with sweeping implications across Liberia's mining, transport, and economic
development sectors.

 

"The Chamber applauds this milestone as a turning point not only for the
mining and transport sectors but for Liberia's broader economic
aspirations," Kamara stated. "It reflects a strategic shift from 'Aid to
Trade', creating jobs, empowering communities, and unlocking Liberia's
untapped potential."

 

The US$1.8 billion investment is expected to stimulate thousands of direct
and indirect jobs, boost the mining value chain, and enhance Liberia's
competitiveness in regional and global markets. The rail and port
infrastructure -- designed to be accessible to multiple users -- will also
serve as a catalyst for regional integration, particularly with neighboring
Guinea, Côte d'Ivoire, and Sierra Leone.

 

The Chamber emphasized that the agreement sends a strong and reassuring
message to the international business community: Liberia is open for
business and committed to fostering a transparent, modern, and
investor-friendly environment.

 

"This is more than a mining deal; it's a declaration of confidence in
Liberia's future," said Kamara. "As U.S. investment on the African continent
continues to grow, partnerships like this drive mutual prosperity and deepen
bilateral ties."

 

Ivanhoe Atlantic Liberia, a proud member of the Liberia Chamber of Mines,
will lead the implementation of the agreement, working closely with
government regulators and local communities to ensure the project delivers
long-term, shared value.

 

The Chamber pledged its full support to the project's successful execution
and reiterated its commitment to serving as a bridge between investors,
government, and local communities to ensure inclusive and responsible
resource development.

 

"We are optimistic that this agreement will pave the way for more
transformative investments in Liberia," the Chamber concluded.

 

The agreement represents a rare moment of alignment between government
vision, private sector ambition, and national development goals--one that
many believe could serve as a blueprint for future economic partnerships in
Liberia and beyond.

 

Read the original article on Liberian Observer.

 

 

 

 

 

Uganda: Moroto Residents Decry Long Power Blackout

Frustration is building in Moroto after residents have been thrown into
darkness for more than a week.

 

The power blackout resulted from a failed transformer , cutting power to key
areas like Singila, parts of Nakapelimen, and Mount Moroto Hotel. The
blackout has left several residents and businesses struggling to cope.

 

"We're in the dark, literally," said Rose Nachap, a shopkeeper in Singila.
"How are we supposed to survive like this?"

 

UEDCL Manager in Moroto say they are working to solve the problem.

 

"Replacing the transformer is not a quick fix. We're doing the best we can"
said Walter Francis Ngabu, area Manager, Uganda Electricity Distribution
Company Limited (UEDCL). "We have already procured a new transfer and it may
take a few days to get power back."

 

While some critical facilities like the UN offices and the local Prisons
have been switched to alternate power sources, the majority of the
population remains without electricity.

 

For Mount Moroto Hotel, a major draw for tourists, the blackout has been
disastrous. "We've lost a lot of business. No power means no bookings. It's
affecting us and we can't run the hotel on generator at all times, it is
very expensive ," Maggie Awas Lokii, assistant Hotel Manager said.

 

In the streets of Nakapelimen, frustration is rising. "It's like we've been
forgotten," said Michael Agaba, a resident. "The government needs to bring
UEDCL to account. People are losing money. People are losing hope."

 

UEDCL has promised to restore power soon, but with each passing day,
Moroto's patience is wearing thin.

 

Read the original article on Nile Post.

 

 

 

 

Gambia Generates Over $60 Million From Oil Exploration Licenses in Eight
Years

The Gambian government has reported a significant boost in revenue from oil
exploration licenses, generating a total of USD $60,346,263 over the past
eight years. This revenue has come from three main license holders since
2017, according to the Minister of Petroleum, Energy and Mines.

 

In a recent assembly briefing, the Minister outlined the financial
contributions made by the companies involved in oil exploration, including
FAR, Petronas, British Petroleum (BP), and Petronor. Significant revenue
streams include training and resources, surface rentals, and signature
bonuses, cumulatively reaching over $60 million.

 

FAR was granted 80% of the Block A2 and A5 licenses in 2017, collaborating
with Erin, which held the remaining 20%. Notably, following Erin's exit, the
20% interest reverted to the government. In 2018, Petronas was assigned a
40% interest in these blocks.

 

BP initially obtained the A1 license in 2019 but exited the exploration in
September 2021 due to a strategic pivot to focus on cleaner energy.
Conversely, Petronor, which obtained its license in 2020 as part of a
settlement with African Petroleum, has complied with its licensing
obligations, albeit without drilling.

 

Despite the investments, the minister confirmed that neither FAR nor
Petronas has discovered oil in their operations. Both companies attempted to
find oil but exited after unsuccessful drilling at the Samo and Bambo wells
in 2018 and 2021, respectively.

 

The revenue breakdown was detailed as follows:

 

- Training and Resources: USD $5,520,808

 

- FAR and Petronas: USD $3,145,691

 

- BP: USD $1,095,866

 

- Petronor: USD $1,279,250

 

- Surface Rentals: USD $4,775,456

 

- FAR and Petronas: USD $3,432,865

 

- BP: USD $525,057

 

- Petronor: USD $817,534

 

- Signature Bonuses: USD $19,600,000

 

- FAR and Petronas: USD $5,000,000

 

- BP: USD $10,100,000

 

- Petronor: USD $4,500,000

 

BP also faced an unfulfilled obligation of USD $30,450,000 due to its
decision not to proceed with drilling.

 

In response to inquiries about the current state of oil exploration, the
minister acknowledged a shift in interest from international oil companies
between 2019 and 2020. However, he expressed optimism, citing renewed
interest and active marketing efforts that have led to several applications
currently under review.

 

While acknowledging that oil discoveries have yet to be made, the minister
emphasized the Gambia's position within the MSGBC basin, which includes
Senegal and Guinea-Bissau, as a region with substantial hydrocarbon
potential. This positioning, coupled with recent interest from international
firms, has sparked hope for future discoveries in the Gambian territories.

 

Overall, the government's efforts to manage licenses and engage with oil
companies have yielded considerable revenue, signaling a commitment to
fostering an environment conducive to potential oil exploration and
development in the years to come.

 

Read the original article on Foroyaa.

 

 

 

 

Africa: Full List - 3 African Countries Ranked Among World's Best Countries

Three African countries: Egypt, Morocco, and South Africa have earned spots
among the world's top-ranked countries in the 2024 Best Countries Rankings,
published by U.S. News & World Report in collaboration with the Wharton
School of the University of Pennsylvania and global marketing firm WPP.

 

According to the report, Egypt leads the continent at 35th globally,
followed by Morocco at 39th and South Africa at 40th.

 

The rankings are determined not by economic statistics alone but by global
perceptions.

 

Over 17,000 people--including business decision-makers, university-educated
elites, and general citizens--evaluated 87 countries across 73 different
attributes, grouped into ten key categories: Adventure, Agility, Cultural
Influence, Entrepreneurship, Heritage, Movers, Open for Business, Power,
Quality of Life, and Social Purpose.

 

To qualify for inclusion, countries needed to meet certain thresholds in
GDP, tourism, and foreign direct investment (FDI). Final scores were
correlated with GDP per capita (PPP), providing a snapshot of a nation's
perceived prosperity and global standing.

 

"This project is based on a proprietary perceptions survey that reaches
thousands of citizens across the globe," said Elliott Davis, a reporter for
U.S. News & World Report.

 

"How a nation is viewed by others can play a big role in its global
standing."

 

Switzerland took the top spot for the third consecutive year, praised for
its stability, entrepreneurship, and high quality of life.

 

"It's no surprise that a stable, consistent country like Switzerland would
top our rankings seven times in nine years," Davis added.

 

The United States made its highest-ever appearance in the rankings at third,
driven by improvements in its "Open for Business" and "Movers" subrankings,
while Japan claimed second place for its innovation, influence, and advanced
economy.

 

Other noteworthy shifts included China, which rose to 16th, and Ukraine,
which fell 12 places to 80th--the biggest drop in this year's report.

 

Top 10 Countries in the 2024 Best Countries Rankings

 

Switzerland

Japan

United States

Canada

Australia

Sweden

Germany

United Kingdom

New Zealand

Denmark

Vanguard News

 

Read the original article on Vanguard.

 

 

 

 

US will hike tariffs on copper to 50%, Trump says

Copper entering the US from other countries is set to face a new tax of 50%,
President Donald Trump has said.

 

The decision carries through on tariff threats the president made earlier
this year, when he ordered an investigation into how imports of the metal
were affecting national security.

 

Similar probes are looming over other sectors, including pharmaceuticals,
semiconductors and lumber, as part of a wider embrace of tariffs that Trump
claims will protect and boost American industry.

 

Copper prices in the US jumped to a record high after the announcement of
the new import tax, which Commerce Secretary Howard Lutnick said are
expected to come into effect around the end of this month.

 

 

Lutnick said he expected Trump to sign documents in the coming days to
formalise the decision, which the president revealed in an offhand remark at
a televised meeting of his cabinet.

 

"Today we're doing copper," Trump said. "We're going to make it 50%."

 

US delays higher tariffs but announces new taxes for some countries

UK-US tariff deal begins but still no news on steel

 

The US imported about 810,000 metric tons of refined copper last year, about
half of what it consumed, according to the US Geological Survey.

 

Chile was the biggest supplier, followed by Canada.

 

The metal is a key component in military equipment, as well as electric
vehicles and construction. Current US tariff rates on copper are typically
far lower than 50%.

 

A new 50% rate would match the recently imposed levy on steel and aluminium
products, but would be higher than many in the industry had expected.

 

Some in the industry said they wanted to see the final order before speaking
out, noting that some countries and products might secure exemptions.

 

"We have to see whether this will apply to all countries or only some," said
the chairman of Chile's state-run copper producer Codelco.

 

Scott Lincicome, vice president of economics and trade at the Cato
Institute, said the announcement seemed like "more of the same" - stirring
uncertainty, while at the same time making it "quite clear" that higher
tariffs of some sort were coming.

 

"We're going to get some sort of new level of historically high US tariffs -
we're really just wrangling over the exact number and coverage," he said,
adding that the measure would help US producers but hurt the many more firms
in the US that need copper as an input.

 

UK steelmakers still waiting on tariff exemption

Trump's plans for copper come as the White House is also separately
preparing to start raising tariffs on goods from countries around the world
from 1 August.

 

Trump has already imposed a 10% tariff on most products, but he had called
off his more aggressive plans after financial markets recoiled at steeper
tariffs and business groups in the US pleaded for reprieve.

 

Trump sent letters to leaders of 14 countries on Monday, including South
Korea and Japan, warning them of plans to institute new levies ranging from
25% to 40%.

 

Many trading partners are still hoping to strike deals before 1 August.

 

Trump on Tuesday said talks were going well with the European Union and he
was "probably two days off" from sending a letter unveiling a new tariff
rate.

 

In the UK, steelmakers are anxiously waiting to hear if they will be able to
avoid tariffs of 50% on their products.

 

The US and UK agreed in May that the US would allow UK steel and aluminium
into the US free of tariffs, up to an amount to be determined, as part of a
wider tariff deal.

 

While the deal came into force last month, the tariff reductions on metals
were yet to be finalised.

 

Currently, steel and aluminium products arriving on US shores from the UK
remain subject to a 25% import tax, which could double if a deal between the
two countries is not implemented by 9 July.

 

The White House did not respond to a request for comment on the status of
those talks.

 

In his remarks Trump also said he planned to move forward with tariffs of up
to 200% on pharmaceuticals, but said he would give the industry at least a
year to adjust.-BBC

 

 

 

Trump delays tariffs as the rest of the world plays hardball

Donald Trump's White House had grandly promised "90 deals in 90 days" after
partially pausing the process of levying what the US president called
"reciprocal" tariffs.

 

In reality, there won't even be nine deals done by the time we reach Trump's
first cut-off date on 9 July.

 

The revealing thing here, the poker "tell" if you like, is the extension of
the deadline from Wednesday until 1 August, with a possibility of further
extensions - or delays - to come.

 

>From the US perspective, Treasury Secretary Scott Bessent says all focus has
been on the 18 countries that are responsible for 95% of America's trade
deficit.

 

The jaunty letters being sent from the US to its trading partners this week
are simply a reincarnation of that infamous White House "Liberation Day"
blue board.

 

The rates are basically the same as were first revealed on 2 April. The
infamous equation, which turned out to use a measure of the size of the
deficit as a proxy for "the sum of all trade cheating" lives on, in a form.

 

 

This is all being announced without the market turmoil seen earlier this
year because of this additional delay.

 

Financial markets believe in rolling delays, in the idea of TACO, that Trump
Always Chickens Out - although they may embolden foot-dragging on all sides
that lead to a renewed crisis.

 

However, the real takeaway here has been the Trump administration's
inability to strike deals. The letters are an admission of failure.

 

The White House may be playing hardball, but so are most other nations.

 

Japan and South Korea were singled out for the first two letters, which
effectively further blow up their trade deals with the US.

 

The Japanese have done little to hide their fury at the US approach.

 

Its finance minister even hinted at using its ownership of the world's
biggest stockpile of US government debt - basically the biggest banker of
America's debts - as a source of potential leverage.

 

The dynamic from April has not really changed.

 

The rest of the world sees that markets punish the US when a trade war looks
real, when American retailers warn the White House of higher prices and
empty shelves.

 

And there is still a plausible court case working its way through the system
that could render the tariffs illegal.

 

 

 

But the world is now also starting to see the numerical impact of an upended
global trade system.

 

The value of the dollar has declined 10% this year against a number of
currencies.

 

At Bessent's confirmation hearing, he said that the likely increase in the
value of the dollar would help mitigate any inflationary impact of tariffs.

 

The opposite has happened.

 

Trade numbers are starting to shift too. There was massive stockpiling
before tariffs, there have been more recent significant falls.

 

Meanwhile, Chinese exports to the US have fallen by 9.7% so far this year.

 

But China's shipments to the rest of the world are up 6%. This includes a
7.4% rise in exports to the UK, a 12.2% increase to the 10 members of the
ASEAN alliance and 18.9% rise to Africa.

 

The numbers are volatile, but consistent with what might be predicted.

 

Revenues from tariffs are starting to pour into the US Treasury coffers,
with record receipts in May.

 

As the US builds a tariff wall around itself, the rest of the world is
likely to trade more with each other - just look the recent economic deals
between the UK and India, and the EU and Canada.

 

It is worth noting that the effective tariff rate being imposed by the US on
the rest of the world is now about 15%, having been between 2% and 4% for
the past 40 years. This is before the further changes in these letters.

 

The market reaction is calm for now. It might not stay that way.-BBC

 

 

 

Action urged to halt exodus of firms leaving UK

The exodus of firms from the London Stock Exchange has created a "pivotal
moment" for the UK's financial services sector which requires urgent action,
a leading business group has warned.

 

The Confederation of British Industry (CBI) said a combination of companies
choosing to list elsewhere, private firms buying up public ones, and
investors shunning UK shares had seen 213 firms leave since 2016.

 

Chair Rupert Soames said that lighter regulation, better marketing and
incentives for investors to put cash into British firms were needed to stem
the outflow.

 

He said he would support cutting allowances for cash ISAs to get more people
investing, which the chancellor is understood to be considering.

 

 

In her Mansion House speech to City leaders, Rachel Reeves is expected to
consider cutting tax breaks for people parking their savings in cash ISAs,
in a bid to encourage more investment in stocks and shares.

 

She is expected to set out how people can be given the right information and
support to take a stake in government's effort to grow the economy.

 

Mr Soames said he would support changes in tax law to encourage more
investment, arguing that the current annual £20,000 allowance to put cash
that can earn interest tax free did little to help growth.

 

"Of all the investments that God ever invented, cash [ISA] is the worst
possible one," he said.

 

Quizzed on whether it cash ISAs were safer than people putting their money
into stocks and shares, he replied: "Safe from what? Inflation - I don't
think so.

 

"There is £300bn that people have squirrelled away and I suspect the
chancellor will want to do something about that and say that if you are
going to take tax shelter then should it be in cash or something
productive."

 

Don't panic, says stock market boss as firms leave UK

Is London's stock market losing its lustre?

 

'Houston we have a problem'

"Houston we have a problem" was how Mr Soames characterised widespread
concern about the steady outflow of companies from UK markets, particularly
to the US.

 

Some well-known and highly regarded UK companies now sell their shares on
foreign markets.

 

Once the jewel in the crown of UK, tech firm ARM Holdings is now listed in
New York. Just Eat and Deliveroo have moved or been gobbled up by
competitors, Paddy Power's parent company Flutter is betting on the US, and
mining giant BHP headed down under to Australia.

 

Perennial rumours remain over the future of London stalwarts Shell, and UK's
most valuable company, Astra Zeneca.

 

Last year alone 88 companies left the UK, and 70 more have departed so far
this year. A trickle has become a flood.

 

Mr Soames said the exits mattered because the stock market is part of the
foundations of a financial services industry that pays 10% of all taxes in
the UK - "supporting hospitals and schools up and down the land".

 

Last year, the chief executive of the London Stock Exchange denied it was in
crisis despite the high-profile exits.

 

'Don't be squeamish on executive pay'

When it comes to public companies being bought up by private firms, the
benefits are many. Private buyers are prepared to pay more for the business,
pay executives higher salaries and are subject to less scrutiny and
regulation.

 

Mr Soames argued the country needed to be "grown up" about some of these
issues if the UK wanted to retain the world's best companies.

 

"If you want to have international companies here you've got to allow them
to pay management what they think that they need to be paid and not be
squeamish," he said.

 

The CBI's report welcomed some of the work done already to bolster UK stock
markets.

 

The previous Conservative government loosened some listing requirements and
Reeves has plans to consolidate some public sector pension funds into
superfunds.

 

Several of the biggest pension and insurance firms have voluntarily signed
up to invest more in UK private assets.

 

But there's little evidence that has moved the needle of the UK investment
industry, which only invests 4% of its assets in publicly-traded British
companies.

 

A Treasury spokesperson told the BBC that the Chancellor would next week set
out more detail on how the government intends to "ruthlessly exploit our
global advantages".

 

"This includes continued reform to ensure our capital markets are
competitive and at the forefront of modern public markets," they said.

 

While London raised three times more equity capital than the next three
European exchanges combined next year, there is more to do to ensure we
attract the most promising companies to list on our shores.

 

The challenge is not just to lead the investment horse to water but to make
it drink out of your own pool.-BBC

 

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

Cellphone:         +263 71 944 1674 | +27 79 993 5557 

Email:                <mailto:bulls at bullszimbabwe.com>
bulls at bullszimbabwe.com

Website:             <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:                  <http://www.bullszimbabwe.com/blog>
www.bullszimbabwe.com/blog

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

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www.facebook.com/BullsBearsZimbabwe



 

 

 


 

INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


 (c) 2025 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

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