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Apple CEO Warns Trump About China Tariffs

Importing from China is a lucrative multi-trillion dollar operation. It is the source of tremendous profit and wealth in the US, because consumer commodities imported from China’s low wage economy are often sold at the retail level more than ten times their factory price.

Production does not take place in the USA. The producers have given up production. The US trade deficit with China is instrumental in fuelling the profit driven consumer economy which relies on Made in China consumer goods.
19 August 2019

Sudanese army and civilians seal interim power-sharing deal

Sudan’s main opposition coalition and the ruling military council on Saturday signed a final power-sharing deal that paves the way for a transitional government, and eventually elections, following the overthrow of long-time leader Omar al-Bashir. Tens of thousands of people of all ages took to the streets of the capital Khartoum in celebration, with many heading towards the newly renamed Freedom Square, once the site of many of Bashir’s rallies. Stability in Sudan, which has been grappling with an economic crisis, is seen as crucial for a volatile region struggling with conflict and insurgencies from the Horn of Africa to Egypt and Libya.
18 August 2019

Nigeria’s president tells cenbank to stop providing FX for food

Nigeria’s President Muhammadu Buhari has told the central bank to stop providing funding for food imports, his spokesman said in a statement on Tuesday, a move that has raised questions about the bank’s independence. Nigeria, which has Africa’s biggest economy, is the continent’s top oil producer and relies on crude sales for around 90% of it foreign exchange. Low oil prices led to a recession in 2016 from which the country emerged two years ago.
17 August 2019

Zimbabwe police beat protesters defying ‘rogue’ government

Riot police in Zimbabwe on Friday fired teargas and beat demonstrators who defied a protest ban, as the opposition accused President Emmerson Mnangagwa's government of surpassing Robert Mugabe's regime in brutality.

Scores of people gathered in a square in the capital Harare to demonstrate against the country's worsening economy, despite massive police deployment and a ban upheld by a court the same morning.Police cornered a group of protesters and beat them with batons, an AFP reporter saw.
16 August 2019

Does Huawei help governments in Uganda and Zambia to spy on their political opponents?

Huawei employees stationed in Uganda and Zambia have helped the Ugandan and Zambian governments spy on their political opponents, which has led to the opponents' arrests in both countries, the Wall Street Journal reports. In Kampala, Uganda, Huawei employees reportedly helped Uganda's cyber-surveillance unit break into the WhatsApp group belonging to Bobi Wine, a political opponent to the current Ugandan president Yoweri Museveni. The Huawei employees used spyware made by an Israeli company to break into the WhatsApp group, which led to Wine's arrest, as well as the arrest of dozens of his supporters.
15 August 2019

Saudi Aramco still making more money than any other company

Saudi Aramco said Monday that its profit dropped 12% in the first half of its financial year to $46.9 billion due to weaker global oil prices. The rare financial disclosure coincides with renewed interest in a potential initial public offering by Saudi Arabia's state oil producer, and bolsters its status as the world's most profitable company. Apple (AAPL), for comparison, generated profit of $31.5 billion in the first six months of its financial year.
13 August 2019

Versace apologises after T-shirt angers China

Luxury brand Versace has apologised after an image on one of its T-shirts appeared to imply Hong Kong and Macau were independent territories.
After fierce criticism on social media in China, Versace said it had made a mistake and had stopped selling the tops. It said it "respects the sovereignty of China's territorial state". Fashion brands Givenchy and Coach are also facing a backlash for not adhering to China's territorial claims. The Versace T-shirts, images of which were shared on social media, featured city-country pairs such as Milan-Italy and London-UK. These also included Hong Kong-Hong Kong and Macau-Macau.
13 August 2019

South Africa’s Ramaphosa wins latest round against anti-corruption watchdog

Public Protector Busisiwe Mkhwebane alleged in July that Ramaphosa had “deliberately misled” parliament about the 500,000 rand ($32,500) donation for the 2017 campaign to succeed Jacob Zuma as head of the governing African National Congress. She said there was also prima facie evidence of money laundering involving millions of rand in the handling of donations for the campaign.
Ramaphosa called her report flawed and, in Monday’s High Court challenge against it, was granted an interdict against implementation of the watchdog’s findings while he appeals.
12 August 2019
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