Breaking News Today – Monday 17 November 2025

Business News Today

Oil Prices Drop on Russian Port News

Brent crude oil futures fell to $63.8 per barrel in morning trade today, trimming gains from the previous session. Prices dipped after news that Russia’s Novorossiysk port had resumed operations following a two-day shutdown caused by a Ukrainian drone strike. Reports indicated that two crude tankers were moored at the port on Sunday, signaling ongoing activity at the terminals. The disruption at Russia’s second-largest oil export hub had pushed crude prices up more than 2% on Friday to close the week with a modest gain. Meanwhile, President Trump on Sunday said that Republicans are drafting a bill to sanction any country trading with Russia and mentioned that Iran could be added to the list. Still, the outlook for the oil market remains bearish, with expectations of a supply glut later this year and next, as both OPEC and non-OPEC producers increase output amid slowing demand growth.

South Africa’s S&P Ratings Upgrade – First in 20-Years

S&P Global Ratings delivered a landmark upgrade to South Africa’s long-term foreign-currency sovereign credit rating, lifting it from BB- to BB—the first such improvement since 2005. The local-currency rating rose to BB+ from BB, with the outlook remaining positive. This move signals growing confidence in South Africa’s economic trajectory amid post-election reforms under President Cyril Ramaphosa’s Government of National Unity. Key drivers include stabilizing government debt at around 75% of GDP through fiscal consolidation, including spending cuts and revenue enhancements. S&P forecasts GDP growth accelerating to 1.1% in 2025 from 0.5% in 2024, averaging 1.5% over the medium term, bolstered by easing power shortages and infrastructure investments. South Africa joins a list of only three nations to receive an S&P upgrade in 2025 globally and its first upgrade from S&P in almost 20 years.

Somali Data Breach

A major data breach in Somalia’s electronic visa application system could result in exposing personal information belonging to tens of thousands of applicants, including US citizens, the American embassy in Somalia has warned. It said it had received credible reports that “unidentified hackers” had penetrated the Somali government’s e-visa platform, potentially compromising data from at least 35,000 people. The leaked documents circulating online include names, photos, dates of birth, marital status, home addresses and email contacts, according to a US embassy statement released on Thursdays .

Breaking News Shorts: 

• Amazon’s satellite connectivity program has been re-branded from Project Kuiper to “LEO”. The name change comes as the company appears to be shifting its focus from “unserved or underserved” communities to securing larger commercial contracts. LEO stands for Low Earth Orbit.
• Samsung Electronics Shares saw a gain of more than 3% at the market opening this morning, after the company announced it would invest 450 trillion won ($310.14 billion) in the country and add a chip production line in city of Pyeongtaek.
• Credit ratings agency S&P on Friday downgraded Senegal’s long-term sovereign credit rating to “CCC+” from “B-“, citing the precarious debt position of the West African country. It also placed Senegal’s ratings on “CreditWatch developing”, signalling that it could lower them if the government is unable to refinance its upcoming commercial maturities.
• A federal jury in California ruled Friday that Apple must pay medical device maker Masimo $634 million for infringing a patent on blood oxygen monitoring technology. Reuters reports the jury found that the Apple Watch’s workout mode and heart rate notification features violated Masimo’s patent.
• The Nikkei 225 Index slipped 0.3% to around 50,200 while the broader Topix Index dropped 0.5% to 3,342 this morning, extending losses from the prior session despite stronger than expected growth data. Japan’s economy contracted 0.4% quarter-on-quarter in the three months to September, reversing a 0.6% expansion in Q2, but beating market forecasts for a 0.6% decline.
• Bitcoin is trading around $95K, retaining most of last week’s losses to remain near its lowest level in more than six months, as broad risk-off sentiment weighed on global markets. The cryptocurrency has wiped out more than 30% of the gains it posted earlier this year, as the early-year optimism driven by the Trump administration’s pro-crypto stance fades.

Markets by Numbers 

Currency markets indicate the US dollar softer today, with the Euro trading against the US dollar at 1.16032 while the Pound is trading at 1.31516 to the US dollar. The Yen is currently trading at 154.64 to the dollar. The rand (ZAR) is currently at R17.10 to the US dollar.

Commodities:  

• Gold futures have lost momentum today, and are currently trading around $4075.05 per ounce.  
• Copper prices are trending lower today, with prices currently around $5.0194
• Silver futures prices are 0.5% higher this morning, and currently trading around $50.804
• Platinum futures are up marginally this morning, and currently trading at $1545.10, While Palladium prices are marginally lower this morning and are currently trading around $1405.50 per ounce.
• Brent crude oil prices have dropped today, and currently at $63.76 with WTI trading lower at $59.45
• Cocoa futures continue its lower trajectory, and currently trading around $5253.27 per ton. 
• Coffee futures have gained some momentum today, and are currently trading at around $4.087 per pound

Crypto Currencies: 

• Bitcoin prices have clawed back some of its steep losses seen last week this morning, and trading at around $94917 per coin currently 
• Ether prices are trending over -1.6% lower today, and are currently trading around $3176.26
• $Trumpcoin are trending over -2% lower today, and currently trading around $7.025

(All prices quoted at approximately 07H15 Central African Time) 

Africa News Briefs:

• President Cyril Ramaphosa announced on Friday that South Africa will symbolically hand over the G20 presidency to an “empty chair” in the absence of U.S. leadership at the summit next week. South Africa, the current chair, has had ongoing strained relationship with the US, the country’s second largest trading partner.
• A Congo – Rwandan peace deal between Rwandan-backed M23 rebels and the government of the Democratic Republic of Congo has been signed with a framework for peace in the east of the country. The ceremony was held in Qatar, which along with the US and the African Union, has been trying to mediate an end to decades of conflict in the resource-rich region.Earlier this year, the M23 captured the eastern region’s main cities of Goma and Bukavu. Previous attempts to secure peace have failed.