Major International Business Headlines Brief ::: 18 Jul 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  18 Jul  2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Trump’s tariffs cloud G20 finance chiefs’ meeting in South Africa

ü  South Africa’s Valterra Platinum flags fall in first-half profit

ü  South African rand edges up as G20 finance meeting nears conclusion

ü  South Africa coalition strained after trade envoy fails to visit US

ü  Kenya’s central bank to hold next rate-setting meeting on August 12

ü  PrimeXBT Launches ‘Trade as VIP’ Campaign Offering 70% Off Trading Fees
for South African Traders

ü  Nigeria’s inflation falls for third month in June

ü  South Africa’s Eskom targets mainly clean energy sources by 2040

ü  South African rand steady before retail sales data

ü  Senegal raises $644 million in oversubscribed domestic bond offering

ü  US passes first major national crypto legislation

ü  Meta investors settle $8bn lawsuit with Zuckerberg over Facebook privacy

ü  Netflix uses AI effects for first time to cut costs

ü  Spud-tacular: How India became a french fry superpower

 


 <mailto:info at bulls.co.zw> 

 


Trump’s tariffs cloud G20 finance chiefs’ meeting in South Africa

(Reuters) – South Africa urged G20 countries to show global and cooperative
leadership to tackle challenges including rising trade barriers, as the
club’s finance chiefs met on Thursday under the shadow of President Donald
Trump’s tariff threats.

 

The G20, which emerged as a forum for cooperation to combat the 2008 global
financial crisis, has for years been hobbled by disputes among key players
that have been exacerbated by Russia’s war in Ukraine and Western sanctions
on Moscow.

 

Host South Africa, under its presidency’s motto “Solidarity, Equality,
Sustainability”, has aimed to promote an African agenda, with topics
including the high cost of capital and funding for climate change action.

 

In opening remarks, South Africa’s Finance Minister Enoch Godongwana said
the G20 must provide strategic global leadership, cooperation and action in
the face of complex challenges.

 

“We have a critical role to play in revitalising and strengthening
multilateralism by fostering inclusive dialogue, reinforcing rules-based
cooperation and driving collective action in global challenges that no
country can solve alone,” he said.

 

“The need for bold cooperative leadership has never been greater.”

 

Questions, however, are lingering over the ability of the finance chiefs and
central bankers meeting in the coastal city of Durban to tackle those issues
and others together. The G20 aims to coordinate policies, but its agreements
are non-binding.

 

U.S. Treasury Secretary Scott Bessent will not attend the two-day meeting,
his second absence from a G20 event in South Africa this year.

 

Bessent also skipped February’s Cape Town gathering, where several officials
from China, Japan and Canada were also absent, even though Washington is due
to assume the G20 rotating presidency at the end of the year.

 

Michael Kaplan, acting undersecretary for international affairs, will
represent the United States at the meetings.

 

 

 

A G20 delegate, who asked not to be named, said Bessent’s absence was not
ideal but that the U.S. was engaging in discussions on trade, the global
economy and climate language.

 

Finance ministers from India, France and Russia are also set to miss the
Durban meeting.

 

South Africa’s central bank governor Lesetja Kganyago said that
representation was what mattered most.

 

“What matters is, is there somebody with a mandate sitting behind the flag
and are all countries represented with somebody sitting behind the flag?”
Kganyago told Reuters.

 

U.S. officials have said little publicly about their plans for the
presidency next year, but one source familiar with them said Washington
would reduce the number of non-financial working groups and streamline the
summit schedule.

 

TARIFF SHADOW

Trump’s tariff policies have torn up the global trade rule book and clouded
the economic outlook. With baseline levies of 10% on all U.S. imports and
targeted rates as high as 50% on steel and aluminium, 25% on autos and
potential levies on pharmaceuticals, extra tariffs on more than 20 countries
are slated to take effect on August 1.

 

 

 

His threat to impose further 10% tariffs on BRICS nations — of which eight
are G20 members — has raised fears of fragmentation within global forums.

 

Germany’s Bundesbank chief said the central bank’s expectation of 0.7%
growth in Europe’s largest economy next year could be eaten up if tariffs of
30% threatened by Trump were implemented.

 

“If tariffs materialise in August, a recession in Germany in 2025 cannot be
ruled out,” Joachim Nagel told Reuters in Durban.

 

Trump’s attacks on U.S. Federal Reserve Chair Jerome Powell was causing
concern too in Durban, with Nagel warning against interfering with the
independence of central banks.

 

On the broader agenda, South Africa’s Treasury Director General Duncan
Pieterse said the G20 hoped to issue the first communique under the South
African G20 presidency by the end of the meetings.

 

The G20 was last able to collectively issue a communique a year ago.

 

 

 

 

 

South Africa’s Valterra Platinum flags fall in first-half profit

(Reuters) – South Africa’s Valterra Platinum expects to report a sharp fall
in first half profit by as much as 88% due to lower output and sales as well
as one-off costs related to its demerger from Anglo American Plc group, it
said on Friday.

 

Valterra, formerly Anglo American Platinum, said it expects headline
earnings between 800 million rand and 1.6 billion rand ($44.97
million-$89.94 million) in the six months to June 30, down from 6.5 billion
rand during the same period last year.

 

Platinum group metal (PGM) sales volumes fell 25% after heavy rainfall and
flooding disrupted operations at Valterra’s Tumela mine within its
Amandelbult complex, the company said in a trading statement.

 

Demerger costs amounted to 1.4 billion rand during the first half. Valterra
demerged from Anglo in June and is now separately listed in Johannesburg and
London, as the global mining giant restructures its business to primarily
focus on energy metal copper.

 

Cost savings of about 2.1 billion rand helped offset the decline in earnings
over the period, Valterra said.

 

The company said its refined production guidance of 3.0 million-3.4 million
PGM ounces for the year remains unchanged.

 

Valterra will release its half-year financial results on July 28, its first
as a standalone company.

 

($1 = 17.7897 rand)

 

 

 

 

South African rand edges up as G20 finance meeting nears conclusion

(Reuters) – The South African rand edged up in early trade on Friday as
investors turned their attention to the final day of the two-day Group of 20
finance meeting, which South Africa, the first African host nation, hopes to
conclude with a formal communique.

 

A communique would indicate that the G20 finance leaders have reached
consensus on at least some key issues.

 

At 0706 GMT the rand traded at 17.76 against the U.S. dollar, about 0.3%
stronger than Thursday’s close.

 

The meeting of G20 finance ministers and central bank governors will
continue on Friday with tariffs, debt relief and climate resilience being
the core topics debated thus far.

 

On the broader agenda, South Africa’s Treasury Director General Duncan
Pieterse said the G20 hoped to issue the first communique under the
country’s presidency by the end of the meetings.

 

Canada’s Francois-Philippe Champagne also told Reuters he was cautiously
optimistic a final communique would be agreed, but that the G20 of large
developed and developing countries had in any case to send a clear message.

 

The G20 was last able to take a mutually agreed stance to issue a communique
in July of 2024, agreeing on the need to resist protectionism but making no
mention of Russia’s invasion of Ukraine.

 

South Africa’s benchmark 2035 government bond was weaker in early deals, as
the yield rose 2 basis points to 9.98%.

 

 

 

South Africa coalition strained after trade envoy fails to visit US

(Reuters) – South Africa’s main coalition partners are embroiled in a spat
over how to respond to looming tariffs from a hostile Trump administration,
after the smaller party said the president’s aide was denied a U.S. visa to
negotiate with Washington.

 

The Democratic Alliance said on Tuesday that the United States had formally
rejected President Cyril Ramaphosa’s chosen interlocutor, Mcebisi Jonas, and
had denied him a diplomatic visa in May.

 

The DA provided no evidence for the claim, which its leading international
relations official Emma Louise Powell repeated in a statement on Thursday.

 

Presidency spokesperson Vincent Magwenya, in a response, did not say whether
Jonas had been denied a visa.

 

“President Ramaphosa has not had a need for Mr. Jonas to visit the United
States on urgent business,” he said in a statement.

 

He added that Jonas had been working in the background with the trade and
foreign ministries. Since his appointment in April, the government has not
mentioned Jonas as having met with any U.S. officials.

 

He was not part of a delegation that travelled to Washington in May, a trip
during which U.S. President Donald Trump assailed Ramaphosa in the Oval
Office with false claims of mass killings of white South African farmers.

 

Magwenya declined to comment further when Reuters contacted him on Thursday.
Jonas did not immediately respond to a text message requesting comment. The
U.S. embassy in Pretoria did not immediately respond to a request for
comment.

 

Washington’s 30% tariff for South Africa kicks in on August 1. Central bank
governor Lesetja Kganyago warned on Wednesday that it could trigger 100,000
job losses.

 

Ramaphosa’s African National Congress is furious that the white-led DA,
which like Trump has criticised South Africa’s racial diversity policies,
made an independent visit to the United States earlier this year to plead
the country’s case to U.S. politicians.

 

 

 

The erstwhile enemies forged an unlikely coalition after the ANC lost its
outright majority in elections last year. But they have clashed over equity
laws, education policy and the budget, which the DA has held up on grounds
of corruption and waste.

 

Ramaphosa fired a DA deputy minister for failing to get permission to take
part in the U.S. trip.

 

“As the ANC continues to engage with 
 the likes of Russia and Iran, the DA
will continue to 
 engage with the international community of democracies,”
Powell said in a statement defending the DA’s U.S. trip on Thursday.

 

 

 

 

Kenya’s central bank to hold next rate-setting meeting on August 12

(Reuters) – Kenya’s central bank will hold its next interest rate-setting
meeting on August 12, the bank said on its website.

 

At its last meeting in June, the bank cut its benchmark lending rate for the
sixth meeting in a row to 9.75%, saying it wanted to provide further support
to the economy.

 

 

 

 

PrimeXBT Launches ‘Trade as VIP’ Campaign Offering 70% Off Trading Fees for
South African Traders

PrimeXBT, a leading FSCA-regulated multi-asset broker, has launched its
latest promotion, ‘Trade as VIP’, granting all newly registered users in
South Africa instant access to VIP 2 status for 30 days. As part of the
platform’s tiered system, VIP levels reward traders with reduced fees,
tighter spreads, and exclusive platform benefits. For a limited time, new
users can experience these professional-grade conditions from the moment
they join, without needing to meet any trading volume thresholds.

 

Running from July 1 to August 31, 2025, the campaign is designed to remove
entry barriers for new traders by automatically upgrading every new account
to VIP 2. On the Crypto Futures platform, this unlocks almost a 70%
reduction in taker fees, dropping from the standard 0.045% to just 0.015%.
In the coming weeks, VIP 2 users will also benefit from up to 30% discounts
on spreads across Forex and CFDs on Stocks, Commodities, Indices, and Crypto
on PXTrader.

 

In addition to improved trading conditions, VIP 2 status also provides
priority customer support, instant withdrawals, and higher withdrawal
limits, enhancing the overall trading experience across both platforms.

 

According to Sihle Tuta, Head of PrimeXBT South Africa, the campaign is
particularly relevant for local traders navigating cost constraints and
seeking fair access to high-performance platforms:

 

“This campaign delivers real value by giving South African traders access to
some of the best trading conditions in the industry. From day one, we’re
empowering users to start stronger, trade smarter, and build early momentum,
combining cost-efficiency with a professional-grade experience designed to
help them succeed.”

 

PrimeXBT ranks among the lowest-cost options on the market, outperforming
major platforms in fee efficiency. For example, a $1,000,000 Bitcoin trade
under VIP 2 would generate $300 in savings compared to standard fees. These
savings scale significantly with volume, helping both casual and active
traders reduce trading costs without compromising execution quality.

 

With meaningful savings and access to top-tier tools and conditions,
PrimeXBT is lowering the cost of entry while raising the standard of what
new traders can expect. This campaign reinforces the broker’s ongoing
commitment to making high-performance trading more accessible, empowering,
and competitive for all, especially in emerging markets like South Africa.

 

Learn more about PrimeXBT’s ‘Trade as VIP’ campaign.

 

Disclaimer: The content provided here is for informational purposes only and
is not intended as personal investment advice and does not constitute a
solicitation or invitation to engage in any financial transactions,
investments, or related activities. Past performance is not a reliable
indicator of future results. The financial products offered by the Company
are complex and come with a high risk of losing money rapidly due to
leverage. These products may not be suitable for all investors. Before
engaging, you should consider whether you understand how these leveraged
products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as
indicated on its website.

 

PrimeXBT (PTY) LTD is an authorised financial services provider in South
Africa with licence number 45697. PrimeXBT (PTY) LTD acts as an intermediary
between the investor and the market maker which is the counterparty to the
products purchased through PrimeXBT.

 

 

 

 

 

Nigeria’s inflation falls for third month in June

(Reuters) – Nigeria’s headline inflation rate NGCPIY=ECI fell for the third
straight month in June, to 22.22% year-on-year from 22.97% in May, data from
its statistics agency showed on Wednesday.

 

Inflation in Africa’s most populous country soared to repeated 28-year peaks
last year, spurred by President Bola Tinubu’s moves to end costly subsidies
and devalue the country’s naira currency NGN= after coming to power in 2023.

 

It dropped sharply in January, when the statistics agency updated the base
year for its calculations and reweighted the inflation basket, falling to
24.48% in annual terms from 34.80% in December. But its decline has since
slowed.

 

Food inflation NGFINF=ECI stood at 21.97% year on year in June compared with
21.14% the month before.

 

The central bank, which has kept its key lending rate unchanged at its last
two policy meetings, has another rate-setting meeting next week.

 

 

 

South Africa’s Eskom targets mainly clean energy sources by 2040

(Reuters) – South African state-owned power utility Eskom aims to shift to
mainly clean energy sources by 2040 from its current predominantly
coal-based generation fleet, it said on Wednesday as it laid out its latest
plans for the change.

 

Eskom aims to have 32 gigawatts (GW) of renewable energy capacity by 2040,
compared to less than 1 GW now, while it wants its coal capacity to shrink
from 39 GW to 18 GW over that time, a company presentation on its energy
sources to lawmakers showed.

 

Eskom said it would roll out renewable energy projects through a combination
of “repowering” older coal-fired power stations slated for closure and new
projects.

 

Repowering involves replacing old power-generation equipment with newer
technology. Eskom has identified several old coal plants where it will
replace generating units with renewable energy or gas-fired plants.

 

Eskom will have an in-house renewable energy business unit to implement
projects and partner with private companies.

 

Among obstacles to its clean-energy goals, Eskom cited its 400 billion rand
($22.31 billion) debt burden, which it said continued to slow investment in
renewable energy.

 

It also mentioned growing debts it is owed by South African municipalities
and uncertainty over regulated power tariffs, which it argues are below the
level required to cover its costs.

 

($1 = 17.9252 rand)

 

 

 

 

 

South African rand steady before retail sales data

(Reuters) – The South African rand was little changed in early trading on
Wednesday, before the release of the country’s retail sales data later in
the day.

 

At 0659 GMT, the rand traded at 17.89 against the dollar ZAR=D3, about 0.2%
stronger than Wednesday’s close.

 

Statistics South Africa will publish May retail sales data ZARET=ECI at 1100
GMT, shedding light on consumer spending patterns in one of Africa’s biggest
economies.

 

Economists polled by Reuters predict retail sales will rise 4.4%
year-on-year in May, after a 5.1% increase in April.

 

“Retail sales probably remained relatively robust,” said Nedbank economists
in a research note, though they expect a marginal growth of 2.0%.

 

“The more subdued inflationary environment, lower interest rates, and easing
debt service costs have lifted real wages and discretionary spending,” said
the note.

 

South Africa’s benchmark 2035 government bond ZAR2035= was slightly weaker
in early deals, as the yield rose 1 basis point to 9.87%.

 

 

 

Senegal raises $644 million in oversubscribed domestic bond offering

(Reuters) – Senegal has raised 364 billion CFA francs ($644 million) in its
second public bond offering of 2025, exceeding its initial target of 300
billion CFA francs, the West African nation’s finance ministry said in a
statement on Tuesday.

 

The issuance, which ran from June 19 to July 8, was arranged by CGF Bourse
with Societe Generale Senegal as co-lead.

 

It forms part of the government’s broader strategy to diversify budget
financing sources, deepen the domestic capital market, and manage public
debt.

 

Senegal has seen mounting concerns about its debt levels. Its international
bonds have lost roughly a quarter of their value since revealing in
September it had what analysts estimated as up to $14 billion of previously
undisclosed debt.

 

That pushed its debt-to-GDP ratio towards 120%, making it one of the highest
in Africa.

 

Despite the debt concerns, the latest offering was oversubscribed by 21.3%,
reflecting strong demand from both domestic and regional investors.

 

The ministry attributed the success of the issuance to growing investor
confidence in Senegal’s economic outlook.

 

“In a challenging economic environment, this fundraising effort enhances the
credibility of Senegal’s financial signature,” the ministry said in the
statement.

 

Proceeds from the bond sale will support public finance recovery, economic
stimulus measures, and help optimize debt servicing. The securities are also
eligible for refinancing, providing additional liquidity to the banking
sector, it added.

 

The country, which began producing oil and gas last year, has increasingly
turned to the West Africa regional market to meet its financing needs amid
tightening global credit conditions and rising debt servicing costs.

 

 

 

The country’s finance ministry said on Tuesday that it had begun
recalculating its gross domestic product using an updated base year in a
move that could result in an improvement in its debt metrics.

 

Barclays estimated in a note on Wednesday that the rebasing exercise could
lift Senegal’s 2024 nominal GDP by 15% to 25%, likely pushing the debt
burden back towards or even below 100% of GDP.

 

Senegal’s decision came after S&P Global’s downgrade of Senegal’s sovereign
credit rating to B- and the assignment of a negative outlook, effectively
serving as a warning of a potential further downgrade, because of the
concerns over the country’s debt levels.

 

 

 

US passes first major national crypto legislation

Lawmakers in the US have passed the country's first major national
cryptocurrency legislation.

 

It is a major milestone for the once fringe industry, which has been
lobbying Congress over regulation for years and poured millions into last
year's election, backing candidates that included Donald Trump.

 

The bill sets up a regulatory regime for so-called stablecoins, a kind of
cryptocurrency backed by assets seen as reliable, such as the dollar.

 

Trump is expected to sign the legislation into law on Friday, after the
House passed the bill on Thursday, joining the Senate, which had approved
the measure last month.

 

 

Known as the Genius Act, the bill is one of three pieces of cryptocurrency
legislation advancing in Washington that is backed by Trump.

 

The president once derided crypto as a scam but his opinion shifted as he
won backing from the sector and got involved in the industry as a
businessman, with ties to firms such as World Liberty Financial.

 

Supporters of the legislation say it is aimed at providing clear rules for a
growing industry, ensuring the US keeps pace with advances in payment
systems. The crypto industry had been pushing for such measures in hopes it
could spur more people to use digital currency and bring it more into the
mainstream.

 

The provisions include requiring stablecoins, an alternate cryptocurrency to
the likes of Bitcoin, to be backed one-for-one with US dollars, or other
low-risk assets. Stablecoins are used by traders to move funds between
different crypto tokens.

 

The use of these coins, which are viewed as less volatile, has grown rapidly
in recent years.

 

>From Bitcoin to XRP: Key cryptocurrency terms and what they mean

 

Critics argue the bill will introduce new risks into the financial system,
by legitimising stablecoins without erecting sufficient protections for
consumers.

 

For example, they said it would deepen tech firms' participation in
bank-like activities without subjecting them to similar oversight, and leave
customers hanging in a convoluted bankruptcy process in the event that a
stablecoin firm should fail.

 

They had also tried to rally opposition to the bill by arguing that voting
in favour was effectively condoning Trump's business activities - including
his family's promotion of their own crypto coins.

 

But it nevertheless drew significant support from Democrats, about half of
which supported the bill, as well as the majority of Republicans.

 

"Some members may believe passage of this bill, even with flaws, is better
than the status quo. We believe this is a fundamental misunderstanding of
the risks involved with these instruments," a coalition of consumer and
advocacy groups wrote in a letter to Congress this spring.

 

They warned that passage would "allow the proliferation of assets that
consumers will wrongly perceive as safe".

 

Analysts had expected Congress to pass all three bills earlier this week,
but unexpected hiccups led to delays.

 

The two other bills have passed the House and are headed to the Senate,
where Republicans hold a narrow majority. Those bills would prevent the US
central bank from establishing a digital currency and set up a regulatory
framework for other forms of crypto.

 

The advance comes as Trump is reportedly working on an presidential order
that could allow retirement accounts to be invested in private assets, such
as crypto, gold and private equity.

 

The value of Bitcoin hit a new record this week, passing $120,000 (£89,000).

 

But Terry Haines of Washington-based analysis firm Pangaea Policy, said he
did not expect the other two bills, which are more significant, to go
further.

 

"This is the end of crypto's wins for quite a while - and the only one," he
wrote. "When the easy part, stablecoin, takes ~4 to 5 years and barely
survives industry scandals, it's not much to crow about."-bbc

 

 

 

 

Meta investors settle $8bn lawsuit with Zuckerberg over Facebook privacy

Mark Zuckerberg has agreed to settle a multibillion dollar lawsuit with a
group of shareholders over how top executives and directors at Meta handled
repeated privacy violations by Facebook.

 

The shareholders were seeking $8bn (£6bn) in damages. It is unclear how much
they agreed to settle for.

 

The settlement was announced on Thursday by a lawyer for the shareholders,
just before the trial was about to enter its second day in a Delaware court.
Meta declined to comment on the settlement.

 

The Meta shareholders had alleged that Mr Zuckerberg's actions led to the
Cambridge Analytica scandal in which the data of millions of Facebook users
was leaked and used by a political consulting firm.

 

 

The shareholders had asked the judge to order the 11 defendants named in the
case to reimburse Meta for more than $8bn in fines and legal costs, which
they say the company has had to pay in order to resolve claims of users'
privacy breaches.

 

The shareholders also questioned the timing of share sales by top brass at
the company.

 

Meta was formerly known as Facebook, and is the parent company of the social
media platform, along with photo-sharing app Instagram and the messaging app
WhatsApp.

 

The shareholder lawsuit was filed in 2018, after it was revealed that data
from millions of Facebook users was accessed by Cambridge Analytica, a
political consulting firm that worked for President Donald Trump's 2016
election campaign.

 

Among the defendants was Jeffrey Zients, who served as Meta director for two
years starting in May 2018, and was also former President Joe Biden's White
House chief of staff.

 

In testimony on Wednesday, Mr Zients acknowledged that a $5 billion Federal
Trade Commission fine was substantial, but said that the company did not
agree to pay it to protect Mr Zuckerberg from legal liability.

 

Other defendants included Peter Thiel, co-founder of Palantir Technologies,
and Reed Hastings, co-founder of Netflix.

 

The settlement allows the defendants to avoid testifying under oath.

 

Former chief operating officer Sheryl Sandberg had also been slated to
testify.

 

"One thing that could have come out of a full trial is a full accounting of
how Facebook came to adopt and approve any illegal practices," said Ann
Lipton, a law professor at the University of Colorado.

 

"It's valuable for society to know how this happened and what went wrong
that they were breaking the law, if they were breaking the law," Lipton
added. "That kind of exposure serves a valuable social purpose. We won't get
that accounting now."

 

Meta was not a direct party to the lawsuit but has said that its has
invested billions of dollars in privacy reforms since 2019.

 

Prior to the settlement, Chancellor Kathaleen McCormick, a Delaware judge,
was set to hear testimony through next week before rendering a decision.

 

Last year, Ms McCormick drew the ire of Tesla boss Elon Musk after she
rejected his $56 billion pay package.

 

The electric vehicle-maker has left Delaware and reincorporated in
Texas.=bbc

 

 

 

 

Netflix uses AI effects for first time to cut costs

Netflix says it has used visual effects created by generative artificial
intelligence (AI) in one of its original TV shows for the first time.

 

The streaming giant's co-chief executive Ted Sarandos said AI, which
produces videos and images based on prompts, was used to create a scene of a
building collapsing in the Argentine science fiction show, The Eternauts.

 

He said the technology allowed the production team to complete sequences
faster and at a lower cost.

 

The use of generative AI is controversial in the entertainment industry over
concerns it creates content using others' work without their consent and
fears that it will replace the work of humans.

 

 

Mr Sarandos made his comments as Netflix announced a 16% rise in revenue to
$11bn (£8.25bn) for the three months to the end of June compared to the same
period last year. Profits rose from $2.1bn to $3.1bn.

 

The streaming firm said the better-than-expected performance was boosted by
the success of the third and final series of South Korean thriller Squid
Game, which has so far attracted 122 million views.

 

Asked about Netflix's use of AI, Mr Sarandos said the technology has allowed
productions with smaller budgets to use advanced visual effects.

 

The generative AI used in The Eternauts helped its production team to
complete a sequence showing the collapse of a building in Buenos Aires 10
times faster than if they had used traditional special effects tools, he
said.

 

"The cost of it would just wouldn't have been feasible for a show in that
budget.

 

"That sequence actually is the very first [generative] AI final footage to
appear on screen in a Netflix original series or film. So the creators were
thrilled with the result," said Mr Sarandos.

 

AI was among the key concerns raised during a Hollywood strike in 2023.

 

During the three-month walkout, the Screen Actors Guild–American Federation
of Television and Radio Artists union called for tighter regulation of the
use of AI.

 

Some in the industry have criticised the use of AI in film, calling it
degrading to the craft.

 

In 2024, film mogul Tyler Perry halted plans for a $800m expansion of his
studio in Atlanta over fears that the rapid advancement in AI-generated
videos would affect jobs.

 

AI tools like OpenAI's Sora were being announced at the time, causing awe at
the quality of footage it could create from simple text prompts, but also
concerns about job security.

 

Davier Yoon, co-founder of Singapore animation studio CraveFX, said
Netflix's adoption of generative AI came as no surprise as more major
studios are welcoming the technology.

 

Generative AI adds to the list of digital tools that visual effect artists
can pick to bring ideas to life, he said.

 

"It feels like a matter of time. AI definitely opens the gate to allow
smaller studios to achieve big budget-looking visuals," said Mr Yoon.

 

"Ultimately, it is the artist who decides what is in the final image, not
AI."-BBC

 

 

 

 

 

 

Spud-tacular: How India became a french fry superpower

French fries turned around the fortunes of Jitesh Patel.

 

He comes from a family of farmers in Gujarat in the northwest of India.
Traditionally they grew cotton, but the returns were poor.

 

Droughts in 2001 and 2002 made the situation worse and the Patels knew
things had to change.

 

"We realised that we had to start growing something that does not require
lot of water," Mr Patel says.

 

So, they experimented with potatoes. Initially they tried table potatoes;
the kind available in local markets and cooked at home, but the returns
weren't much better than cotton.

 

Spurred by the arrival of french fry makers in their state, in 2007 they
started growing the varieties of potato used by the food industry. It turned
out to be a winning strategy.

 

"Since then, no looking back," says Mr Patel.

 

 

Mr Patel is part of India's rise to potato superpower status. It is already
the world's second biggest spud producer.

 

But it's the export market, particularly of french fries, that's really
flying.

 

Gujarat has become India's capital of french fry production, home to huge
factories churning out chips, including facilities belonging to Canadian
giant McCain Foods and India's biggest maker of French Fries, HyFun Foods.

 

>From Gujarat fries are sent all over over the world. But the most important
markets at the moment are in Asia, including the Philippines, Thailand and
Indonesia, according to Devendra K, who has been studying the potato market
for many years.

 

In February of this year, monthly exports of Indian frozen fries broke the
20,000 tonnes barrier for the first time. In the year to February, India's
fry exports totalled 181,773 tonnes, a 45% increase compared with the
previous year.

 

The success is partly down to price.

 

"Indian frozen fries are noted for being competitively priced in the
international market," says Devendra.

 

He says that in 2024, the average price of Indian fries was even cheaper
than those from China.

 

For the french fry makers, it's boom time.

 

"India has emerged as a significant player and exporter due to its abundant
agricultural produce, cost-effective manufacturing, and growing focus on
quality standards," says Haresh Karamchandani, CEO of HyFun Foods.

 

HyFun has seven plants processing potatoes in Gujarat with another two
coming online by 2026.

 

"Urbanisation, increasing disposable incomes and changing lifestyles have
promoted the consumption of frozen foods, not only in the household but also
in food service establishments," says Mr Karamchandani.

 

HyFun Foods Male and female workers in a potato field in GujaratHyFun Foods

The northwestern state of Gujarat is a hub for potatoes and french fries

 

Meeting that demand has required decades of innovation from farmers.

 

Jitesh Patel studied agriculture at university and has been applying science
to farming ever since.

 

Along with friends and family they are continuously trying to improve their
potato yield.

 

"We are a well educated bunch of farmers, so we keep trying new methods," he
says.

 

One of their first innovations, back in 2003, was to switch to a drip system
of irrigation, rather than flooding fields with water.

 

To keep the soil productive the fields are rested over the summer, and
fertilised with cow manure.

 

Their focus now is finding the perfect potato plant.

 

"We are in the process of experimenting with seeds and soon we will have a
new variety," he says.

 

Jain Irrigation Systems is a large agricultural technology company. As well
as selling irrigation equipment, it has teams of technicians developing
seeds for agriculture, including potato plants.

 

They use a set of techniques known as tissue culture. It's a way of cloning
plants, with desirable traits and eliminating disease.

 

It involves growing small pieces of plant tissue in a controlled laboratory
environment to create virus-free plantlets. These plantlets can then be used
to produce more seed potatoes through methods like taking cuttings.

 

"Potato seeds destined for future seed production undergo meticulous
breeding practices under the supervision of breeders," says Vijay Singh,
vice president of marketing at the company.

 

One issue they are tackling at the moment concerns a variety of potatoes
used to make chips. Farmers found that by November the potato crop starts to
go brown because of its sugar content.

 

"Companies like us who are into tissue culture are trying to come up with a
new variety to overcome the challenges that the industry is facing," says Mr
Singh.

 

 

HyFun Foods French fries rolling down a production lineHyFun Foods

HyFun Foods has seven potato processing plants in Gujarat

While Indian farmers are working on improving their yields, investment is
needed elsewhere in the frozen food industry.

 

In particular, firms need to be able to store and transport goods at
sub-zero temperatures.

 

Modern cold storage facilities have been built, but more are needed.

 

"Only about 10–15% of India's cold storage facilities are suitable for
storing frozen foods," says Vijay Kumar Nayak, co-founder of Indo Agri
Foods, an exporter of Indian food.

 

"These facilities are unevenly distributed, heavily concentrated in a few
states, leaving rural and remote regions severely underserved.

 

Transportation is a problem as well.

 

"There is a notable shortage of specialised refrigerated trucks and
containers, making temperature-controlled transportation extremely difficult
and increasing the risk of spoilage," he says.

 

A reliable electricity supply is also essential.

 

"Frequent power outages in many parts of the country increase the chances of
spoilage and make running a reliable frozen food supply chain a daunting
task," says Mr Nayak.

 

"Indian companies face intense competition in export markets from countries
like China, Thailand and Brazil. These nations benefit from more advanced
logistics, infrastructure, and production systems," he points out.

 

Back at his Gujarat farm Mr Patel is happy that the chip makers moved in.

 

"Gujarat has become a food processing hub. Most of the farmers, including
me, have become contract farmers which gives us security and good money for
our yield," he says.-BBC

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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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> 

 


 

 


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for guideline purposes only and d from third parties.

 


 

 


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