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Gaetan M-Antchouwet Acquire Licensing Rights Read moreDAKAR, Aug 31 (Reuters) - Gabon on Thursday awaited the next move by its new military junta one day after it overthrew the government, named a new leader and detained long-standing President Ali Bongo in his residence. The coup is the eighth in West and Central Africa since 2020, and the second - after Niger - in as many months. Gabon, an OPEC member, is a major oil and manganese producer whose ousted president also made strides to protect vast Gabon's pristine forests and endangered elephants. But Bongo's popularity had worn thin amid claims of corruption, sham elections, and a failure to spend more of Gabon's oil revenues on the country's poor. Bongo took over in 2009 on the death of his father Omar, who had ruled since 1967.
Persons: Ali Bongo, Gaetan M, Bongo, Omar, Edward McAllister, Anait Miridzhanian, Simon Cameron, Moore Organizations: Military, United Nations, African, African Union and France, Thomson Locations: Port Gentil, Gabon, DAKAR, West, Central Africa, Niger, Mali, Guinea, Burkina Faso, Chad, Libreville, African Union
Oil prices up on tighter supply, China PMI in focus
  + stars: | 2023-08-31 | by ( Katya Golubkova | ) www.reuters.com   time to read: +2 min
REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsTOKYO, Aug 31 (Reuters) - Global oil prices were up in early trade on Thursday backed by tighter U.S. supply, with a focus on China factory activity due later in the day amid recent weak economic expansion data in the world's second-biggest economy. U.S. West Texas Intermediate crude futures gained 10 cents, or 0.13%, to $81.74. Prices are on the rise this week, with U.S. government data showing tighter-than-expected crude supplies and a military coup in Gabon, an OPEC member, raising fears of crude oil supply disruptions providing additional support on Wednesday. "Bad news was good, as weaker U.S. economic data lowered expectations of another rate hike," ANZ Research said in a note. Higher interest rate reduce demand and pressure oil prices down.
Persons: Lucy Nicholson, Katya Golubkova, Stephen Coates Organizations: REUTERS, Rights, Brent, . West Texas, U.S, Analysts, OPEC, Organization of, Petroleum, Federal, Boston Fed, ANZ Research, Thomson Locations: Bakersfield , California, China, Gabon, Saudi Arabia, Russia, The U.S
Below are five charts showing what's been moved and/or shaken:1/SHOCK FOR THE STOCKSMSCI's 24-country emerging markets (EM) stocks index (.MSCIEF) is down 6% this month. It is still up for the year, though well below the 13.5% gain this year for MSCI's main global index, which has benefited from a boom in U.S. "mega-cap" stocks. "The markets that have underperformed are the lower-yielding markets like Asia," Mike Arno, a portfolio manager at Brandywine Global, said. "The market doesn't seem to think that China is a major threat," said Aegon Asset Management's head of EM debt, Jeff Grills. Reuters Graphics5/OUT OF AFRICAThe other big trouble spot has been Africa, where debt markets have seen a sharp pullback.
Persons: Jason Lee, what's, Tayyip Erdogan's, Katherine Marney, Mike Arno, Jeff, Erdogan, Van Eck's, Eric Fine, Viktor Szabo, Szabo, Marc Jones, Rodrigo Campos, Alex Richardson Organizations: REUTERS, Reuters, JPMorgan, Brandywine, FX, HK, EMBI, abrdn, Thomson Locations: Beijing, China, Africa, MIWD00000PUS, Hungary, America, Brazil, Argentina, Asia, TURKEY, Gabon, Niger, JPMorgan's Africa, London, New York
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The ADP National Employment report showed private payrolls increased by 177,000 jobs in August, compared with estimates of 195,000, signaling a softening labor market. "The most recent data really shows that the economy is not overheating and it keeps this sort of Goldilocks hopes alive. Ten of the 11 major S&P 500 sectors rose, with information technology (.SPLRCT) and energy (.SPNY) leading gains, up 0.8% and 0.7%, respectively. Advancing issues outnumbered decliners by a 2.19-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq.
Persons: Brendan McDermid, David Russell, Dow Jones, Brown, Forman, BFb.N, Jack Daniels, Shristi Achar, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Visa, Mastercard, Dow, Nasdaq, HP Inc, Traders, Treasury, Apple, Netflix, Investors, Labor, Dow Jones, Vaalco Energy, NYSE, Thomson Locations: New York City, U.S, Gabon, Bengaluru
MILAN, Aug 30 (Reuters) - Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resource-rich African country. "Shares are reacting to concerns over the backdrop in Gabon," said Investec equity analyst Alex Smith in London. However, Assala Energy, which current owner Carlyle (CG.O) has agreed to sell to Maurel, said its oil production in Gabon was unaffected. "Note Gabon production represents around 20% of group production. Oslo-listed Panoro Energy (PENR.OL) and BW Energy (BWE.OL) were down 5% and 7%, respectively, and U.S.-based Vaalco Energy (EGY.N) fell 13.8%.
Persons: Maurel, Eramet, Alex Smith, Ali Bongo, Carlyle, Investec's Smith, Danilo Masoni, Alun John, Kirsten Donovan Organizations: MILAN, Military, REUTERS, Staff, Rights, Assala Energy, Energy, BW Energy, Vaalco Energy, Thomson Locations: Gabon, London, France, Frankfurt, Germany, Gabonese, Mouila, OPEC, Oslo, U.S, Gabon's
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Persons: Dow Jones, bc5055b Locations: africa
Analysts polled by Reuters prior to the data had estimated on average a draw of 3.3 million barrels. The offshore Gulf of Mexico accounts for about 15% of U.S. oil output and about 5% of natural gas production, according to the Energy Information Administration (EIA). Oil major Chevron Corp CVX.N evacuated some staff from the region, but production was continuing at the sites its operates in the Gulf of Mexico. Oil supply is expected to remain tight as analysts expect Saudi Arabia, the world's biggest oil exporter, will extend its voluntary output cut into October. However, worries about fuel demand and the mixed economic situation in China, the world's biggest oil importer, kept a lid on prices.
Persons: Lucy Nicholson, Toshitaka Tazawa, Yuka Obayashi, Trixie Yap, Christian Schmollinger, Kim Coghill Organizations: REUTERS, Brent, . West Texas, U.S, American Petroleum Institute, Reuters, Fujitomi Securities Co, Hurricane, Energy Information Administration, . Oil, Chevron Corp CVX.N, Capital, Thomson Locations: Bakersfield , California, SINGAPORE, U.S, Gulf, Mexico, Gulf of Mexico, Saudi Arabia, Asia, Gabon, China, Tokyo, Singapore
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/africa/military-officers-claim-they-have-ousted-gabons-president-bc5055b
Persons: Dow Jones, bc5055b Locations: africa
Aug 30 (Reuters) - Gabon's military junta named General Brice Oligui Nguema as transition leader on Wednesday, following the apparent ouster of President Ali Bongo. The elite force is in charge of protecting the president, his family and other high-profile figures. ANTICORRUPTION MANDATEShortly after he took on the new role in 2019, Nguema launched an operation named "clean hands" to crack down on alleged state-led embezzlement. The Bongo family has ruled oil-rich Gabon for over half a century. In an interview with French newspaper Le Monde on Wednesday, Nguema said people in Gabon were frustrated with their government.
Persons: General Brice Oligui Nguema, Ali Bongo, Bongo, Nguema, Gerauds Wilfried Obangome, Ingrid Melander, Anait, Sofia Christensen, Matthew Lewis Organizations: Republican Guard, Thomson Locations: Gabon's southeasternmost, Haut, Republic of Congo, United States, Gabon, Libreville, Paris, Johannesburg
CNN —A group of military officers claiming to represent “defense and security forces” in Gabon announced on Wednesday they had seized power in the African nation, according to a televised address circulating on social media. In the broadcast, the military officer said the election results would be voided and the country’s borders would be closed until further notice. Bongo’s long ruleEarlier on Wednesday, Gabon’s election body said Bongo had won the presidential election with 64.27% of the vote, after a delay-plagued general election that the opposition denounced as fraudulent. The elder Bongo came into power in 1967, seven years after the country’s independence from France. Ahead of the election, the non-profit Reporters Without Borders condemned the Gabonese government for obstructing foreign press coverage of the event.
Persons: , Ali Bongo, , Bongo, Albert Ondo Ossa, Omar Bongo, Ondo, Bongo’s Organizations: CNN, Gabon24, Twitter, Senate, National Assembly, Constitutional, Economic, Social, Environmental Council, Reuters, Union, Borders, United Nations, Gabonese Locations: Gabon, Gabonese, Libreville, West, Central Africa, Mali, Guinea, Burkina Faso, Chad, Niger, Ondo, France
A group of senior military officers appeared on television in the oil-rich Central African nation of Gabon early Wednesday and announced they were seizing power, hours after the incumbent president, Ali Bongo Ondimba, was declared to have won a third term in office. There was no immediate reaction from Mr. Bongo or the government. Bursts of gunfire could be heard in the capital, Libreville, shortly after the broadcast ended, Reuters reported. “We have decided to defend the peace by putting an end to the current regime,” one of the officers said on the Gabon 24 station. If it succeeds, the coup would be the latest in an extraordinary run of military takeovers in Western and Central Africa — at least nine in the past three years, including one in Niger last month.
Persons: Ali Bongo Ondimba, Bongo Organizations: Reuters, Central Africa — Locations: Gabon, Libreville, Western, Central, Niger
Gabonese military officers announce they have seized power
  + stars: | 2023-08-30 | by ( ) www.cnbc.com   time to read: +1 min
A group of senior Gabonese military officers appeared on national television in the early hours of Wednesday and said they had taken power, minutes after the state election body announced President Ali Bongo had won a third term. Appearing on television channel Gabon 24, the officers said they represented all security and defense forces in the Central African nation. Loud sounds of gunfire could be heard in the capital Libreville, a Reuters reporter said, after the television appearance. "In the name of the Gabonese people ... we have decided to defend the peace by putting an end to the current regime," the officers said. As one officer read the joint statement, around a dozen others stood silently behind him in military fatigues and berets.
Persons: Ali Bongo Organizations: Gabonese, OPEC Locations: Gabon, Central African, Libreville, Gabonese
Stock Market Today: Dow Futures Hover; Bond Yields Rise
  + stars: | 2023-08-30 | by ( ) www.wsj.com   time to read: +1 min
But futures trading early Wednesday suggests the rally could be fizzling out. German bond yields jumped. New data showed prices rising at a faster-than-expected rate in a key German state, raising concerns about a eurozone-wide inflation reading due Thursday. U.S. bond yields also gained. Germany’s DAX was a weak spot after the inflation data.
Persons: Bitcoin, Germany’s DAX, Idalia Organizations: Federal Reserve, Nasdaq, Dow, Treasury, Index, Nikkei Locations: Asia, Gulf of Mexico, Gabon
Gabon's President Ali Bongo Ondimba addresses the 77th Session of the United Nations General Assembly at U.N. Headquarters in New York City, U.S., September 21, 2022. REUTERS/Brendan McDermid/File Photo/File Photo Acquire Licensing RightsLIBREVILLE, Aug 30 (Reuters) - President Ali Bongo has won a third term in the presidential election with 64.27% of the vote, the Gabonese Election Centre (CGE) said on Wednesday, after a delay-plagued general election that the opposition has denounced as fraudulent. Announcing the result in the early hours, CGE head Michel Stephane Bonda said Bongo's main challenger, Albert Ondo Ossa, had come in second place with 30.77%. Bongo's team have rejected Ondo Ossa's allegations of electoral irregularities. Reporting by Gerauds Wilfried Obangome; Writing by Alessandra Prentice; Editing by Clarence Fernandez and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.
Persons: Ali Bongo Ondimba, Brendan McDermid, Ali Bongo, Michel Stephane Bonda, Bongo's, Albert Ondo Ossa, Bongo, Gerauds Wilfried Obangome, Alessandra Prentice, Clarence Fernandez, Gerry Doyle Organizations: United Nations General Assembly, REUTERS, Rights, Gabonese Election, Thomson Locations: U.N, New York City, U.S, Rights LIBREVILLE, Ondo, Central African
Reaction to Gabon army officers announcing coup
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +4 min
Below are reactions to what appeared to be the eighth military coup in West and Central Africa since 2020. FRENCH GOVERNMENT SPOKESPERSON OLIVIER VERAN"We condemn the military coup and recall our commitment to free and transparent elections." EU HIGH REPRESENTATIVE FOR FOREIGN AFFAIRS AND SECURITY POLICY JOSEP BORRELL"If this is confirmed, it is another military coup which increases instability in the whole region. RUSSIAN FOREIGN MINISTRY SPOKESPERSON MARIA ZAKHAROVA"Moscow has received with concern reports of a sharp deterioration in the internal situation in the friendly African country. U.N. SECRETARY-GENERAL ANTONIO GUTERRES"The Secretary-General is following the evolving situation in Gabon very closely.
Persons: Gerauds Wilfried Obangome, Ali Bongo, Moussa Faki Mahamat, BOLA TINUBU'S, Bola Ahmed Tinubu, GENERAL PATRICIA SCOTLAND, OLIVIER VERAN, WANG WENBIN, Bongo, JOSEP BORRELL, MARIA ZAKHAROVA, JOHN KIRBY, It's, GENERAL ANTONIO GUTERRES, Nellie Peyton, Sofia Christensen, Alexander Winning, Sharon Singleton, Andy Sullivan Organizations: REUTERS, Central African, AU, H.E, WEST, BLOC ECOWAS, GENERAL, Commonwealth Secretariat, MINISTRY, EU HIGH, Thomson Locations: Libreville, Gabon, West, Central Africa, Gabonese Republic, Republic, NIGERIA, African Union, CHINA, China, Central African Republic, Mali, Burkina Faso, Niger, Moscow
Explainer: What do we know about the Gabon military coup?
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +3 min
The opposition had denounced the Aug. 26 vote as fraudulent, which Bongo's campaign denied. Reuters Graphics Reuters GraphicsWHO IS ALI BONGO AND WHY WAS HE OUSTED? If successful, the Gabon coup would end the Bongo family's 56-year grip on power. It remains unclear how long the transition promised by the military would be or what exactly the officers are planning. Military officers have also seized power in Mali, Guinea, Burkina Faso and Chad, and most recently in Niger, erasing democratic gains since the 1990s.
Persons: Gerauds Wilfried Obangome, Ali Bongo's, Bongo, Noureddin Bongo Valentin, Ali Bongo, Omar Bongo, Brice Oligui Nguema, Anait, Alessandra Prentice, Mark Heinrich Our Organizations: REUTERS, Military, Central African, Gabonese, Reuters Graphics Reuters, WHO, ALI, Monde, Thomson Locations: Libreville, Gabon, GABON, autocrats, Morocco, West, Central Africa, Mali, Guinea, Burkina Faso, Chad, Niger, Gabonese
LONDON/Johannesburg, Aug 30 (Reuters) - Gabon's dollar-denominated bonds fell by more than 13 cents on Wednesday after the military said it had seized power in the west African nation, according to Tradeweb data. The 2025 maturity fell the most, by 13.238 cents on the dollar to 79.673 cents at 0724 GMT. A group of senior military officers in Gabon claimed to have seized power in the early hours of Wednesday, minutes after the Central African state's election body announced that President Ali Bongo had won a third term. Gabon completed a $436 million "debt for nature" swap earlier this month, where it exchanged parts of the 2025 and 2031 Eurobonds for a "blue bond" maturing in 2038. Reporting By Libby George and Rachel Savage; Editing by Amanda Cooper and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Ali Bongo, Libby George, Rachel Savage, Amanda Cooper, Conor Humphries Organizations: Central African, U.S . Development Finance Corporation, Thomson Locations: Johannesburg, Gabon
If successful, Wednesday's coup in Gabon would be the eighth in West and Central Africa in three years. Widespread condemnation, or the threat of military intervention, have done little to unseat coup leaders in Mali, Burkina Faso, Guinea, Niger and Chad since 2020. Minutes before the coup announcement, Gabon's election authority declared him the emphatic victor of Saturday's election. I am calling on you to make noise, to make noise, to make noise. The triggers for the Gabon coup were different to those in the Sahel countries further north, where insecurity caused by Islamist militants has done much to sway public opinion.
Persons: Ali Bongo, Bongo, Gabon's, Maja Bovcon, Verisk, Omar, Mohamed Bazoum, Paul Biya, Denis Sassou Nguesso, Ryan Cummings, Edward McAllister, Mark Heinrich Our Organizations: REUTERS, REUTERS Acquire, London, African Union, Thomson Locations: Gabon, DAKAR, West, Central Africa, Mali, Burkina Faso, Guinea, Niger, Chad, Africa, United States, France, Cameroon, Congo Republic, South Africa
Podcast: How Taser employees showed their loyalty
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +1 min
The military claims it has seized power in Gabon. Commerce Secretary Gina Raimondo says American firms have told her China has become ‘uninvestible’. Some former employees at Taser maker Axon say loyalty meant being tased, tattooed. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingAt Taser maker Axon, ex-staffers say loyalty meant being tased or tattooedChina says open for business, sidesteps US 'uninvestible' commentGabon army officers say they have seized power after election in oil-rich countryFlorida's Gulf Coast braces for major hurricane as Idalia nears landfallOur Standards: The Thomson Reuters Trust Principles.
Persons: Gina Raimondo, Hurricane Idalia Organizations: Apple, Google, Reuters, Hurricane, Thomson Locations: Gabon, China, Florida, St Petersburg
High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell delivers a speech during a ceremony opening EU's Partnership Mission in Chisinau, Moldova, May 31, 2023. "If this is confirmed, it is another military coup which increases instability in the whole region," said Borrell, speaking at a meeting of EU defence ministers in Toledo. "This is a big issue for Europe," he added. The signs of a coup in Gabon come just weeks after members of the presidential guard in Niger seized power and established a junta. Reporting by Andrew Gray, Sabine Siebold, Benoit Van Overstraeten; Writing by Sudip Kar-Gupta; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Josep Borrell, Vladislav Culiomza, Ali Bongo, Andrew Gray, Sabine Siebold, Benoit Van Overstraeten, Sudip Kar, Conor Humphries Organizations: European Union for Foreign Affairs, REUTERS, Rights, Union, Gabonese, Central African, Thomson Locations: Chisinau, Moldova, Rights TOLEDO, Spain, Gabon, Toledo, Central African Republic, Mali, Burkina Faso, Niger, it's, Europe
REUTERS/Mahamadou Hamidou Acquire Licensing RightsTOLEDO, Spain, Aug 31 (Reuters) - European Union foreign ministers meet in Spain on Thursday to discuss their response to last month's coup in Niger - including possible sanctions - as they also consider news of military officers declaring they have seized power in Gabon. Borrell said the EU was "moving forward" with work on a legal framework for sanctions against the junta in Niger and the foreign ministers would discuss it further on Thursday. Both the EU and ECOWAS have already imposed punitive economic and political measures on Niger but the framework would allow the EU to target specific individuals and organisations. Borrell said on Wednesday after an EU defence ministers' meeting that the EU would seek to mirror any measures taken by ECOWAS. Diplomats said another subject of discussion was how the EU should respond if ECOWAS asks for financial help for a military intervention to restore Niger's ousted government.
Persons: Ibro Amadou, Mahamadou, Dmytro Kuleba, Hassoumi Massoudou, Niger's, Omar Touray, Josep Borrell, Borrell, David Latona, Andrew Gray, Shri Navaratnam Organizations: Nigerien, REUTERS, Rights, Union, Ukrainian Foreign, ECOWAS, Wednesday, West, EU, Diplomats, Thomson Locations: Niamey, Niger, Rights TOLEDO, Spain, Gabon, West, Central, Toledo, Ukraine, West Africa's, EU
Recent coups in West and Central Africa
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +4 min
BURKINA FASOIn January 2022, Burkina Faso's army ousted President Roch Kabore, blaming him for failing to contain violence by Islamist militants. Doumbouya became interim president and promised a transition to democratic elections within three years. CHADIn April 2021, Chad's army took power after President Idriss Deby was killed on the battlefield while visiting troops fighting rebels in the north. Deby's son, General Mahamat Idriss Deby, was named interim president and tasked with overseeing an 18-month transition to elections. But the coup leaders clashed with the interim president, retired colonel Bah Ndaw, and engineered a second coup in May 2021.
Persons: Gerauds Wilfried Obangome, Ali Bongo, Mohamed Bazoum, Abdourahamane Tiani, Burkina Faso's, Roch Kabore, Colonel Paul, Henri Damiba, Captain Ibrahim Traore, Mamady Doumbouya, Alpha Conde, Conde, Doumbouya, Idriss Deby, General Mahamat Idriss Deby, Assimi Goita, Ibrahim Boubacar Keita, Bah Ndaw, Goita, Hereward Organizations: REUTERS, Islamic, West, ECOWAS, Chadian, Mali's West, Thomson Locations: Libreville, Gabon, West, Central Africa, NIGER, Niger, al Qaeda, Islamic State, Mali, Burkina, BURKINA FASO, GUINEA, CHAD, N'Djamena, MALI
Army convoy cheered after Gabon coup declaration
  + stars: | 2023-08-30 | by ( Reuters Editorial | ) www.reuters.com   time to read: 1 min
PoliticsArmy convoy cheered after Gabon coup declarationPostedMilitary officers in oil-producing Gabon said they had seized power on Wednesday (August 30), after the Central African state's election body announced that President Ali Bongo had won a third term.
Persons: Ali Bongo Organizations: Army, Central African Locations: Gabon
Ali Bongo: who is Gabon leader ousted in military coup?
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +5 min
[1/2] A still image from video shows Gabon President Ali Bongo being interviewed in Libreville, Gabon, September 24, 2016. Following a stroke, his fitness to rule was questioned, sparking a failed coup in 2019 as he convalesced in Morocco. Before sitting down for a televised interview with Reuters after his 2016 election win, Bongo removed a large silver watch and several gold rings. When Bongo won a 2016 election, accusations of vote meddling stoked public anger amid a period of low crude prices and belt-tightening. In 2019, a military coup was foiled, with the coup plotters citing a lack of information following Bongo's stroke in 2018.
Persons: Ali Bongo, Bongo, Michael Jackson, Omar, Junior, Alain Bernard Bongo, Ali, Keen, Britain's Prince Charles, Alessandra Prentice, Edward McAllister, Edmund Blair Organizations: REUTERS, Reuters, Omar's, WikiLeaks, International Monetary Fund, Thomson Locations: Gabon, Libreville, autocrats, Morocco, French, Congo Republic, France, U.S
Gabon's president appeals for help after coup
  + stars: | 2023-08-30 | by ( Reuters Editorial | ) www.reuters.com   time to read: 1 min
PoliticsGabon's president appeals for help after coupPostedGabon's President Ali Bongo urged friends "all over the world" to "make noise" after military officers said they had seized power and placed him under house arrest. David Doyle has more.
Persons: Ali Bongo, David Doyle
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