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☆ Just one G-7 leader will join the Davos elite this year as regular people battle cost-of-living crisis
▼ + stars: | 2023-01-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The Congress Center, the venue for the World Economic Forum (WEF), center, in Davos, Switzerland, on Saturday, Jan. 7, 2023. It is not the first time the summit has been sparsely attended by leaders from the powerful political union. That included former U.S. leader Donald Trump, who attended twice during his one term in office, unlike his predecessor Barack Obama, who never attended. His own predecessor, Angela Merkel, was a regular Davos presence during her 16-year term, most recently challenging the increasing "own interests first" mentality of some nations in 2019. "I expect it is partly reputational risks, given the current situation, of enjoying the high life in Davos," he said.

☆ South Africa's president says energy workers face so much danger that some wear bulletproof vests to work, days after a prominent CEO's poisoning was revealed
▼ + stars: | 2023-01-13 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

South Africa's energy sector has been rocked by the poisoning of the CEO of its biggest provider. Eskom's CEO Andre De Ruyter had been leading a crackdown on corruption in South African energy. South Africa's president said this week that some managers in the sector wear bulletproof vests to work. His wife also has two protectors and his children go to school with protectors as well," Ramaphosa said in the address without identifying who the manager is, per South Africa's Times newspaper. Such thefts, De Ruyter said, have a major impact on the energy available in South Africa, which has faced rolling blackouts in recent years.

☆ Take Five: Much to say in Tokyo (and Davos)
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +5 min

U.S. earnings and retail sales numbers, a slew of China data and inflation readings elsewhere mean there's plenty to mull over. Recent data showed Tokyo inflation at double the central bank's target. Reuters Graphics Reuters Graphics3/ HOPE AND FEARU.S. retail sales data and more earnings reports are on tap. Before then comes December's data deluge, with industrial output (CNIO=ECI), retail sales (CNRSL=ECI) and Q4 economic growth data (CNGDP=ECI) lining up to be ugly. Economists expect retail sales to have dropped 7.8% for a fourth straight monthly decline and for annual growth to finish up at a meagre 1.8%.

☆ Oklahoma girl, 4, reported missing after postal worker finds her sister wandering alone, police say
▼ + stars: | 2023-01-12 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +1 min

A 4-year-old girl in Oklahoma was reported missing shortly after a postal worker found her 5-year-old sister wandering alone near their Cyril home, authorities said. Multiple law enforcement agencies have been looking for Athena Brownfield since Tuesday, the Oklahoma State Bureau of Investigation (OSBI) said in a Facebook post. The postal worker contacted Cyril police, OSBI said. Oklahoma State Bureau of Investigation via Facebook"At that time we realized that there was another child missing," the agency's spokesperson Brook Arbeitman said at a news conference. When a reporter asked Arbeitman if Athena's parents were home at the time she was reported missing, Arbeitman said the focus right now remains on finding the child.

☆ The CEO of an African energy giant was poisoned with cyanide slipped into his coffee, just days after he resigned
▼ + stars: | 2023-01-09 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

The CEO of South Africa's biggest energy company, Eskom, was poisoned in December, the firm said. Numerous reports say CEO Andre De Ruyter had cyanide slipped into his coffee at the company's HQ. After drinking the coffee, De Ruyter became "weak, dizzy, and confused," EE Business Intelligence reported, citing an unnamed source. "This attempt on his life will be thoroughly investigated and those responsible must be charged," Pravin Gordhan, the government minister overseeing South Africa's energy sector told the Financial Times. Since taking over as CEO of Eskom, De Ruyter has attempted to crack down on corruption within South Africa's energy sector, EE Business Intelligence reported.

☆ Pelé remembered for transcending soccer around world
▼ + stars: | 2022-12-30 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

Pelé was remembered for a life beyond the field, for transcending the sport of soccer and becoming perhaps the most well-known person on Earth. I would say that before Pelé soccer was just a sport. He is gone, but his magic will endure.”Pelé scored 12 goals in 14 World Cup matches and is the only three-time world champion, winning titles in 1958, 1962 and 1970. Throughout his life, Pelé inspired generations of athletes and deserves every tribute.”Ronaldo, who led Brazil to a fifth World Cup title in 2002, described Pelé as “Unique. Four years ago, Mbappé became only the second teenager — after Pelé — to score a goal in a World Cup final.

☆ The not-quite-redemption of South Africa's infamous ultra-marathon cheats
▼ + stars: | 2022-12-30 | by ( Ryan Brown | ) www.businessinsider.com time to read: +35 min

"A runner can always recognize another runner," Eugene tells me. Ryan Brown for insiderIn those days, they didn't run for South Africa, but for QwaQwa – one of ten "homelands" established for Black South Africans. Tiny, non-contiguous territories – supposedly, the original territory of different Black South African ethnic groups – dotted across the country. It didn't turn out like that, but it didn't turn out like that for most Black South Africans either. As I sat speaking to Sergio, South Africa's president, Cyril Ramaphosa, was fighting for his political life after revelations that wads of cash, potentially ill-gotten, had been stolen from inside his sofa.

☆ South Africa tanker explosion death toll jumps to 27
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

[1/3] People gather near a burnt out truck at the entrance of the damaged bridge where a gas tanker exploded in Boksburg near Johannesburg, South Africa, December 24, 2022. REUTERS/Sumaya HishamJOHANNESBURG, Dec 29 (Reuters) - The death toll from a gas tanker blast in Johannesburg on Christmas Eve has climbed to 27, the provincial health department said on Thursday. "The department of health confirms that the death toll now stands at 27 from the Boksburg explosion. 10 of these are health workers from Tambo Memorial Hospital," the Gauteng Department of Health said in a statement. President Cyril Ramaphosa has promised support to people affected by the blast and said authorities were looking into the incident.

☆ South African tanker blast death toll climbs to 18
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] The damaged bridge where a gas tanker exploded in Boksburg near Johannesburg, South Africa, December 24, 2022. REUTERS/Sumaya HishamJOHANNESBURG, Dec 27 (Reuters) - The death toll from a gas tanker explosion in Johannesburg on Christmas Eve has climbed to 18, officials said on Tuesday, as South African President Cyril Ramaphosa promised to support people affected by the blast. The explosion tore the roof off the emergency department at the Tambo Memorial hospital, destroyed two houses, several cars and injured bystanders up to 500 metres from the scene in the city's Boksburg suburb. "Of the 18 deceased people, nine are Tambo Memorial Hospital staff," the Gauteng Department of Health said in a statement. President Ramaphosa said hospital patients and children were among the dead.

SummarySummary Companies Auditors cite past 'financial irregularities'Utility reports $719 mln net loss for 2022Expects bigger loss this yearEskom says reliant on government supportJOHANNESBURG, Dec 23 (Reuters) - South Africa's Eskom said on Friday that auditors have questioned the utility's ability to survive as a going concern citing past financial irregularities. Auditors Deloitte & Touche LLP in a report said there is “a material uncertainty relating to Eskom’s ability to continue as a going concern,” the utility said in its annual financial report. [1/2] Locals walk past electricity pylons during frequent power outages from South African utility Eskom, caused by its aging coal-fired plants, in Orlando, Soweto, South Africa, September 28, 2022. REUTERS/Siphiwe Sibeko/File Photo 1 2In response, Eskom said it was investigating the incident and was finalising a disciplinary process against an individual. Eskom CEO Andre De Ruyter resigned this month saying a lack of political support had made his position "untenable".

☆ Dollar slips vs euro on upbeat German business morale data
▼ + stars: | 2022-12-19 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/IllustrationNEW YORK, Dec 19 (Reuters) - The dollar edged down against the euro as upbeat German business morale data supported the common currency, while a modest improvement in investors' appetite for riskier currencies weighed on the safe-haven dollar. German business morale rose more than expected in December as the outlook for Europe's largest economy improved despite the energy crisis and high inflation, a survey showed on Monday. The euro rose 0.2 % to $ 1.06085 , not far from the six-month high of $1.0737 touched last week. "I think the dollar is generally softer on slightly higher risk-on trading," said John Doyle, vice president of dealing and trading at Monex USA.

☆ South African President Ramaphosa Is Re-Elected as Party Leader
▼ + stars: | 2022-12-19 | by ( Gabriele Steinhauser | ) www.wsj.com time to read: 1 min

JOHANNESBURG—South African President Cyril Ramaphosa was resoundingly re-elected as the leader of the ruling African National Congress on Monday, shrugging off a parliamentary investigation that found he may have violated the country’s constitution, as well as a forceful challenge by allies of his disgraced predecessor. Mr. Ramaphosa, who has been president of Africa’s most developed economy since 2018, beat his former health minister, Zweli Mkhize, gaining 2,476 votes out of 4,384 cast at the ANC’s elective conference that sets the party’s direction for the coming five years. Perhaps more important, officials backed by Mr. Ramaphosa won four out of the other six positions in the party’s leadership team, giving him a stronger hand in picking his cabinet and pushing through his chosen economic policies.

☆ Ramaphosa re-elected as leader of South Africa's ruling party
▼ + stars: | 2022-12-19 | by ( ) www.cnbc.com time to read: +1 min

South African President Cyril Ramaphosa waves outside the NASREC Centre in Johannesburg, on December 05, 2022 after a meeting of the Africa National Congress. South African President Cyril Ramaphosa has been re-elected leader of the governing African National Congress (ANC) at a party leadership contest, an ANC official said on Monday. Ramaphosa had been widely tipped to secure re-election for a second five-year term as ANC leader at the five-day gathering being held in the country's biggest city Johannesburg. He secured the most nominations from rank-and-file ANC members and is widely viewed as the country's most popular politician. Ramaphosa has denied wrongdoing and has not been charged with any crimes over the scandal, but it has raised questions about how he acquired the money and whether he declared it.

☆ South African rand weakens as ruling ANC picks new leader
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Dec 19 (Reuters) - South Africa's rand weakened early on Monday as investors awaited the outcome of voting for the new leader of South Africa's governing African National Congress (ANC). At 0707 GMT the rand traded at 17.6875 against the dollar, 0.43% weaker than its previous close. Voting for the ANC's new leader was almost complete on Monday as the race pitting President Cyril Ramaphosa against former health minister Zweli Mkhize entered the final stretch. "Anything short of that will likely see the USD-ZAR spike, with thin liquidity conditions amplifying the move," ETM said. The government's benchmark 2030 bond was weaker in early deals, with the yield up 11.5 basis points at 10.330%.

☆ South Africa's ANC gathers to vote on new leader
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] South African President Cyril Ramaphosa attends the nomination process of the top African National Congress (ANC) officials in the 55th National Conference of the ruling African National Congress (ANC) at the Nasrec Expo Centre in Johannesburg, South Africa, December 18, 2022. REUTERS/Sumaya HishamJOHANNESBURG, Dec 18 (Reuters) - Delegates of South Africa's ruling African National Congress (ANC) gathered on Sunday to choose a new party leader, pitting President Cyril Ramaphosa against former health minister Zweli Mkhize. They will vote on Sunday after the ANC nominated the two candidates late on Saturday. Ramaphosa's backers were singing songs in support of him and were holding up two fingers signalling a second term as leader. Former president Jacob Zuma's supporters are seeking to use the scandal to oust Ramaphosa.

[1/2] South African President Cyril Ramaphosa attends the 55th National Conference of the ruling African National Congress (ANC) at the Nasrec Expo Centre in Johannesburg. REUTERS/Sumaya HishamJOHANNESBURG, Dec 17 (Reuters) - Party allies, and even some rivals, of South African President Cyril Ramaphosa on Saturday condemned opponents who disrupted his opening speech with chants and shouting at a conference of the ruling ANC on Friday. Ramaphosa, who was speaking at a five-day gathering of the African National Congress (ANC) to elect candidates for 2024 national elections, is seeking a second term and is widely seen as the party's strongest candidate. We are all interested to emerge here with a very solid, strong leadership," ANC deputy presidential hopeful and Eastern Cape ANC Chairperson Oscar Mabuyane told reporters. What they did yesterday soiled (their) campaign," Zamani Saul, Northern Cape ANC chairperson told SABC news.

WASHINGTON, Dec 9 (Reuters) - President Joe Biden next week will announce U.S. support for the African Union's admission to the G20 group of the world's largest economies as a permanent member, a White House official said on Friday. Biden will make the announcement during the U.S.-Africa Leaders Summit in Washington next week, White House adviser Judd Devermont said, when Biden will meet presidents of African countries. Devermont said the move, first reported by the Washington Post, comes after requests from African Union Chair and Senegalese President Macky Sall and South African President Cyril Ramaphosa. South Africa is the only G20 member from Africa. But Biden has struck a different tone from former President Donald Trump, who disparaged some African nations and barred travel from six of them.

☆ South Africa's Ramaphosa awaits ANC panel decision on his fate
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

He has said the money stolen was the proceeds of the sale of buffaloes and far less than the millions of dollars alleged when the theft came to light in June. Ramaphosa said on Sunday he would attend the meeting of the African National Congress National Executive Committee (NEC) and would accept its decision. Party leaders and supporters of Ramaphosa clad in the colours of the ANC party were seen arriving at the venue of the meeting on Monday. Having received firm backing from his allies within the party, Ramaphosa has vowed to fight on, with his spokesman saying the panel's findings would be challenged. Reporting by Kopano Gumbi; Writing by Bhargav Acharya; Editing by James Macharia Chege and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: China reopening as volatility ebbs
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +4 min

What's more, Wall Street's 'fear index' is showing little if any trepidation about the final month of the year. Even though it backed up a bit today, the VIX index of implied S&P500 volatility (.VIX) closed at its lowest in 8 months on Friday. Morgan Stanley updated its China equity recommendation to overweight, citing "multiple positive developments alongside a clear path set towards reopening." China's yuan , surged past 7 to the dollar in onshore and offshore markets - its best levels in almost three months. The China re-opening optimism buoyed the oil price even as OPEC+ nations at the weekend held their targets steady despite last week's market speculation of another output cut.

☆ South Africa's Ramaphosa hits back as party backs him over 'Farmgate' scandal
▼ + stars: | 2022-12-05 | by ( Kopano Gumbi | ) www.reuters.com time to read: +4 min

A copy of court papers filed by Ramaphosa's lawyers in the Constitutional Court showed Ramaphosa wanted the panel report "reviewed, declared unlawful and set aside." Ramaphosa also wants any steps taken by the lower house of parliament, the National Assembly, over the panel report to be declared unlawful and invalid, the papers showed. South Africa's parliament postponed by a week to Dec. 13 a debate that had been scheduled for Tuesday on the report. [1/5] South African President Cyril Ramaphosa leaves the African National Congress (ANC) National Executive Committee meeting in Johannesburg, South Africa, December 5, 2022. That we will not support this report," Mashatile told reporters.

☆ South Africa's Ramaphosa: ANC executive to decide my fate
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Dec 4 (Reuters) - South African President Cyril Ramaphosa said on Sunday it was up to the governing party's National Executive Committee (NEC) to decide his future in the face of allegations of misconduct against him. Ramaphosa has denied any wrongdoing and has not been charged with any crimes. The president's allies have rallied around him and on Saturday his spokesman said he would not resign. The governing African National Congress (ANC) party's National Working Committee (NWC) was meeting in Johannesburg on Sunday to discuss the panel's report. "It is up to the National Executive Committee, to which I am accountable, to take whatever decision (it deems fit)."

☆ South Africa's Ramaphosa will not resign, spokesperson says
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Dec 3 (Reuters) - South African President Cyril Ramaphosa will not resign and will seek a second term as leader of the ruling African National Congress (ANC) after allies rallied behind him to stay on, a spokesperson from the president's office said on Saturday. "President Ramaphosa is not resigning based on a flawed report, neither is he stepping aside," Ramaphosa's spokesperson Vincent Magwenya told journalists by text message. Ramaphosa has denied any wrongdoing and has not been charged with any crimes. The president would challenge the report and its findings, the spokesperson said. "It is in the long term interest and sustainability of our constitutional democracy... that such a clearly flawed report is challenged."

☆ South Africa's ruling ANC to meet on Sunday to discuss president's fate
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: 1 min

JOHANNESBURG, Dec 3 (Reuters) - South Africa's African National Congress will meet on Sunday, it said on Saturday, to continue a meeting it halted midway on Friday to discuss the future of President Cyril Ramaphosa who has been suspected of misconduct. An enquiry by an independent parliamentary panel found that Ramaphosa might have committed misconduct when investigations revealed that he kept millions of dollars in cash at his private game farm. The president has denied any wrongdoing. Reporting by Promit Mukherjee, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ Calls intensify for South Africa leader to quit over theft probe
▼ + stars: | 2022-12-02 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

Lawmakers are expected to debate the report on Tuesday, and they will vote on whether further action should be taken, including whether to proceed with impeachment proceedings. According to the parliamentary report, Ramaphosa claimed the stolen money amounted to $580,000, disputing the initial amount of $4 million that Fraser alleged was stolen. The main opposition party, the Democratic Alliance, is among those calling for Ramaphosa’s impeachment. “President Ramaphosa most likely did breach a number of constitutional provisions and has a case to answer. Impeachment proceedings into his conduct must go ahead, and he will have to offer far better, more comprehensive explanations than we have been given so far,” Democratic Alliance leader John Steenhuisen said.

☆ South Africa's ruling party to decide Ramaphosa's fate over 'Farmgate' scandal
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +3 min

JOHANNESBURG, Dec 2 (Reuters) - Senior officials in South Africa's ruling African National Congress (ANC) were gathering on Friday to decide whether President Cyril Ramaphosa should stay on after an inquiry found evidence of misconduct over cash hidden at his farm. The president's future has been in doubt since a report by a panel of experts was made public on Wednesday. The South African rand stabilised on Friday, after closing 2% weaker against the dollar on Thursday on speculation that Ramaphosa was going to resign. Local media reported widely that he was considering quitting on Thursday but was then convinced by his own supporters within the NEC to stay. "We are quite determined that the president has to stay," Mathole Motshekga, an NEC member, told local Radio 786.

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