Oil Price Shows Little Change
Oil prices were little changed at 5-month highs on Thursday, as investors weighed a resurgence in COVID-19 infections in some places around the globe that could slow a recovery in fuel demand against a fall in the US dollar and the prospect of a fresh stimulus in the US. WTI crude fell 0.2% to $42.1 a barrel, while Brent crude rose 0.1% to $45.2 a barrel during early European trading. Learn more about your ad choices. Visit megaphone.fm/adchoices
Reserve Bank Of India Leaves Repo Rates At 4%
The Reserve Bank of India kept its benchmark repo rate at 4 percent during its August meeting, surprising markets that expected a 25 bps rate cut, to ensure inflation remains within target going forward following a recent climb in prices due to the coronavirus pandemic. Headline inflation rate has been above the central bank's 4 percent target since the beginning of the year and it is expected to ease only in the second half. The RBI has slashed the repo rate by 115 bps this year, aiming to support the economy amid a steep recession due to the outbreak. Learn more about your ad choices. Visit megaphone.fm/adchoices
Bank of England Maintains Interest Rate At Record Low
The Bank of England voted unanimously to maintain the key bank rate at a record low of 0.1% on August 6th 2020, in line with market forecasts. The Committee voted unanimously for the Bank of England to continue with its existing programmes of UK government bond and sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, maintaining the target for the total stock of these purchases at £745 billion. The Committee does not intend to tighten monetary policy until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2% inflation target sustainably. Learn more about your ad choices. Visit megaphone.fm/adchoices
US Warns ISWAP, Al-Qaeda Taking over West Africa.
The US-backed AFRICOM has warned that the Islamic State and Al-Qaida terrorist groups are gradually taking over the West African region after being displaced in Syria and Iraq. The Commander of the US Special Operations Command, Africa, Maj. Gen. Davin Anderson, while speaking during a virtual media briefing with journalists on Tuesday noted that the extremist groups have begun deploying strategies to re-establish themselves in the region and expand further in the continent without drawing attention.
Japan Marks 75th Anniversary Of Hiroshima Atomic Bomb
Japan on Thursday marks 75 years since the world’s first atomic bomb attack, with the coronavirus pandemic forcing a scaling back of ceremonies to commemorate the victims. Survivors, relatives and a handful of foreign dignitaries will attend this year’s main event in Hiroshima to pray for the victims and call for world peace.
Facebook And Twitter Restrict Trump Accounts Over Harmful Virus Claim
Facebook and Twitter have penalised Donald Trump and his campaign for posts in which the president claimed children were "almost immune" to coronavirus.
Tiktok To Open $500m Data Centre In Ireland
TikTok has said it plans to build a $500m (£375m) data centre in Ireland. It will store videos, messages and other data generated by European users from the short-form video-sharing app.
Mozambique Declares Second Virus Emergency
Mozambican President Filipe Nyusi has announced another 30 days of emergency from Friday midnight in a bid to limit the spread of coronavirus. This is the second time the country has declared a health emergency since March when it confirmed its first case.
Botswana Bans Alcohol Sales
Botswana's government has banned the sale of alcohol and suspended all liquor licences. A gazette notice said the suspension was until further notice. All alcohol selling stores will remain closed.
Gambian President Declares State Of Emergency
Gambian President Adama Barrow has declared a state of emergency and introduced nationwide night curfew for 21 days as coronavirus cases keep rising. The president said the borders and airspace will remain closed except for cargo, diplomats and those seeking treatment abroad.