Saturday, July 24We Break the News

Author: Denis Sseggujja

President Kenyatta mourns rugby icon Benjamin Ayimba

President Kenyatta mourns rugby icon Benjamin Ayimba

AFRICA, Entertainment, Kenya Rugby Union, Rugby, Sports, Uganda Rugby Union
Nairobi, 22nd May 2021, (PSCU)—President Uhuru Kenyatta has sent a message of condolence to the family, friends and relatives of celebrated rugby coach Benjamin Ayimba who passed away on Friday night at a Nairobi hospital. The President mourned the departed sportsman as a Kenyan great and an icon of rugby saying Ayimba had inspired a generation of Kenyans to take up and excel in rugby. “It is a sad day in the history of Kenyan sports having lost Benjamin. From his exploits on the field as  a rugby player and on the touch line as a coach, Benjamin inspired a generation of young Kenyans to take up and excel as rugby players. He was truly a national rugby icon," the President eulogised. “As a nation, we will forever be grateful for his great contribution to Kenya’s sports espec...
Canadian Stocks Little Changed on Thursday, Baltic Exchange Dry Index Up for 2nd Day, Copper Falls for 2nd Day, European Shares Recover in Afternoon Trading

Canadian Stocks Little Changed on Thursday, Baltic Exchange Dry Index Up for 2nd Day, Copper Falls for 2nd Day, European Shares Recover in Afternoon Trading

AFRICA, Asia, WORLD, World Bank
Canadian Stocks Little Changed on ThursdayThe S&P/TSX traded around the flatline on Thursday, after snapping a four-day winning streak the day before with heavyweight energy and materials stocks were among the worst performers dragged down by lower commodities prices. Adding to the bearish tone were the last minutes from an April Federal Reserve meeting, which showed that some policymakers are already comfortable discussing a tapering plan if the US economy continues to pick up strongly and inflationary pressures persist. On the domestic front, latest data showed prices of new homes rose 1.9 % from the previous month in April.Baltic Exchange Dry Index Up for 2nd DayThe Baltic Dry Index rose 0.8% to 2,824 on Thursday, extending gains for a second straight session, as the panamax index ...
Dollar Eases as Fed Minutes-Fuelled Bounce Fades, European Shares Recover in Afternoon Trading, Copper Falls for 2nd Day, Brazilian Equities Little Changed

Dollar Eases as Fed Minutes-Fuelled Bounce Fades, European Shares Recover in Afternoon Trading, Copper Falls for 2nd Day, Brazilian Equities Little Changed

AFRICA, Asia, WORLD, World Bank
Copper Falls for 2nd DayCopper futures fell for the second session on Thursday, trading below $4.6 per pound, after China said it will strengthen its management of commodity supply and demand to curb any “unreasonable” increases in prices. On the supply side, miner Glencore will restart operations at the currently idled Mutanda copper mine in the Democratic Republic of Congo in 2022 while in top producer Chile a possible strike at the world's largest Chile's Escondida mine threatens output. In spite of the price adjustment from a record high of $4.9 per pound reached on May 11th the copper cost is set to remain elevated given how crucial the metal is in the transition to a carbon-free world and as supply is constrained due to lack of investment by large miners. Meantime, the world’s top p...
US Weekly Jobless Claims Continue to Fall, Canada New Housing Prices Rise 1.9% MoM, US Futures Cut Most Losses after Claims Report

US Weekly Jobless Claims Continue to Fall, Canada New Housing Prices Rise 1.9% MoM, US Futures Cut Most Losses after Claims Report

AFRICA, Asia, EUROPEAN UNION, USA, WORLD, World Bank
US Futures Cut Most Losses after Claims ReportUS futures cut some losses on Thursday, with contracts on the Dow Jones little changed after falling almost 200 points early in the premarket session, as traders welcomed an upbeat claims report. Initial jobless claims dropped to a fresh pre-pandemic low of 444K, below market expectations of 450K. Still, worries over a rise in inflation and an early pull back in Fed's monetary stimulus continue to weigh on investors' mood. Last FOMC minutes showed some officials consider it might be appropriate to start discussing a tapering plan in upcoming meetings if the US economy continues to pick up strongly and inflationary pressures persist. Some officials also said that in several industries, the supply-chain disruptions appeared to be “more persisten...
South African Rand Firms after SARB Decision, South Africa Leaves Interest Rates on Hold, Argentine Peso Hits All-time Low, Philadelphia Factory Growth Slows More than Expected

South African Rand Firms after SARB Decision, South Africa Leaves Interest Rates on Hold, Argentine Peso Hits All-time Low, Philadelphia Factory Growth Slows More than Expected

AFRICA, EUROPEAN UNION
South African Rand Firms after SARB DecisionThe South African rand strengthened to 14 against the greenback on Thursday, its highest level on a closing basis since May 10th, after the Reserve Bank left interest rates unchanged and revised higher growth forecasts for 2021. At the same time, inflation projections were revised slightly lower. Earlier in the session, the rand was trading lower at 14.1 per USD following a big jump in domestic consumer price inflation and as Federal Reserve policymakers hinted at a possible shift in future policy.South Africa Leaves Interest Rates on HoldThe South African Reserve Bank unanimously voted to keep its benchmark repo rate unchanged at a record low of 3.5% during its May 2021 meeting, as widely expected. Policymakers said that the overall risks to th...
Taiwan Export Orders Highest on Record For April, US Stocks Set to Extend Losses for 4th Day, Taiwan Export Orders Highest on Record For April, Poland Employment Rises for 1st Time in a Year

Taiwan Export Orders Highest on Record For April, US Stocks Set to Extend Losses for 4th Day, Taiwan Export Orders Highest on Record For April, Poland Employment Rises for 1st Time in a Year

AFRICA, Asia, WORLD, World Bank
Poland Employment Rises for 1st Time in a YearPoland's corporate employment rebounded by 0.9 percent from a year earlier, slightly short of market expectations, to 6.317 million people in April of 2021, following a 1.3 percent decline in the previous month. This reading interrupted a 12-month series of consecutive contractions in employment levels, as the economy seems to slowly start recovering from the pandemic crisis. On a monthly basis employment edged down by 0.2 percent, marginally faster than the 0.1 percent decrease in March.Taiwan Export Orders Highest on Record For AprilExport orders from Taiwan jumped 42.6% over a year earlier to USD 54.9 billion in April of 2021, the most on record for an April month, largely beating market expectations of a 32.6% surge. It is the 14th consecu...
Poland Corporative Wage Growth at Over 12-1/2-Year High, European Equities Pare Gains on Inflation Fears, European Equities Pare Gains on Inflation Fears

Poland Corporative Wage Growth at Over 12-1/2-Year High, European Equities Pare Gains on Inflation Fears, European Equities Pare Gains on Inflation Fears

AFRICA, Asia, EUROPEAN UNION, WORLD, World Bank
European Equities Pare Gains on Inflation FearsEuropean stocks cut early gains to trade flat to lower on Thursday, after economic data showed German producer prices rose in April by the most in nearly a decade, adding to signs of growing inflationary pressure in Europe's largest economy. At the same time, the US Federal Reserve minutes suggested policymakers could soon talk about starting to scale back stimulus. Elsewhere, investors welcomed signs of solid economic recovery as EU countries agreed on Wednesday to ease COVID-19 travel restrictions on non-EU visitors, while EU Commission chief Ursula von der Leyen said on Thursday the EU vaccination campaign is catching up with that of the US. The EU has signed a third contract with pharmaceutical companies BioNTech and Pfizer for an additio...
UK Factory Orders Gauge at Over 3-Year High, Crude Oil is down by 2%, sensex Falls on Metal Sell-off

UK Factory Orders Gauge at Over 3-Year High, Crude Oil is down by 2%, sensex Falls on Metal Sell-off

AFRICA, Asia, EUROPEAN UNION, WORLD
sensex Falls on Metal Sell-offThe S&P BSE Sensex dropped more than 300 points or 0.7% to close at 49,565 on Thursday, led by a metal stock sell-off, after China pledged to step up its management of commodity supply and demand, including stockpiling and reinforcing inspections on both the spot and futures markets, aiming to curb "unreasonable" increases in prices. Elsewhere, minutes from the US Federal Reserve's last policy meeting suggested officials could soon talk about starting to scale back stimulus. On the coronavirus front, daily COVID-19 cases remained below the 300,000 mark for a fourth consecutive day, while daily COVID-19 deaths fell below 4,000 for the first time this week.US Weekly Jobless Claims Set to Decline AgainInitial jobless claims are likely to decrease to a fresh ...
Montenegro Current Account Gap Narrows in Q1, Italy Current Account Surplus Shrinks in March, Croatia Unemployment Rate Falls to 8.9% in April, South Africa Building Permits Rise Less in March

Montenegro Current Account Gap Narrows in Q1, Italy Current Account Surplus Shrinks in March, Croatia Unemployment Rate Falls to 8.9% in April, South Africa Building Permits Rise Less in March

AFRICA, Asia, EUROPEAN UNION, WORLD, World Bank
South Africa Building Permits Rise Less in MarchThe value of recorded building plans passed in South Africa rose 3.4 percent from a year earlier in March of 2021, down from an upwardly revised 22.2 percent jump in the previous month. Building plans for the non-residential segment (18.5 percent vs 49.8 percent in February) and additions & alterations (3.1 percent vs 5.4 percent) posted smaller increases. In addition, those for the residential segment declined (-3.1 percent vs 20.2 percent).Croatia Unemployment Rate Falls to 8.9% in AprilCroatia’s jobless rate fell to 8.9 percent in April 2021, from 9.4 percent in the same month last year as the economy tries to recover from the coronavirus hit. The number of unemployed persons declined by 6.6 percent to 148,744 and employment went down...
Canada New Housing Prices Rise 1.9% MoM, US Weekly Jobless Claims Continue to Fall, Sri Lanka Producer Inflation Slows in March, Coffee Hits 4-year High

Canada New Housing Prices Rise 1.9% MoM, US Weekly Jobless Claims Continue to Fall, Sri Lanka Producer Inflation Slows in March, Coffee Hits 4-year High

AFRICA, Asia, WORLD, World Bank
Canada New Housing Prices Rise 1.9% MoMPrices of new homes in Canada rose 1.9 percent from the previous month in April of 2021, following a 1.1 percent increase in March. New house prices in March were up in 22 of the 27 census metropolitan areas surveyed. Year-on-year, new house prices jumped 9.9%, the largest increase since February 2007.US Weekly Jobless Claims Continue to FallThe number of Americans filing new claims for unemployment benefits dropped by 34 thousand to 444 thousand in the week ending May 15th, a new 14-month low and below market expectations of 450 thousand. The labor market continued to show signs of recovery, helped by the country's re-opening efforts, the ongoing government support and one of the world's most successful vaccination campaigns. However, the weekly rep...
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