Breaking News Today – Monday 21 July 2025

Business & Tech News 

Copper Heading to New Highs

Copper futures are edging upwards toward $5.6 per pound on Monday, trading near record highs after China’s industry ministry pledged to stabilise growth in key sectors such as machinery, autos, and electrical equipment. The initiative aims to modernise production and could indicate that demand for industrial metals will grow. Beyond downstream industries, the ministry’s production stimulus plan covers 10 core sectors, including steel, nonferrous metals, petrochemicals, and construction materials, adding further support to the metals market. Copper prices surged to all-time high, hitting $5.6 per pound on 8 July after US President Donald Trump announced a 50% tariff on copper imports starting August 1.

Rare Earth Exports from China Surge in June

China’s exports of rare earth magnets to the US surged 660% in June 2025 from May, reaching 353 metric tons, according to data released Sunday by the General Administration of Customs. Globally, China exported 3,188 metric tons of rare earth permanent magnets in June, a 157.5% increase from 1,238 tons in May, reflecting progress from agreements reached in June aimed at easing restrictions and restoring global supply. However, exports were still down 38.1% year-on-year compared to June 2024. China—which supplies more than 90% of the world’s rare-earth magnets—signed a series of accords with the US last month to reopen rare-earth trade channels.

Bank of England Long Bond Issue Delay Expected

The Bank of England faces pressure to limit or delay sales of long-dated bonds or gilts, due to recent market turmoil and fragile demand for long-term UK government debt. Forecasters like Oxford Economics and HSBC have suggested the bank halt sales of the £163 billion in gilts with over 20-year terms to stabilise markets. This follows a surge in gilt yields triggered by global bond market volatility, partly due to U.S. tariff policies. Reducing long-dated bond sales could ease market strain, lower yields, and support the economy, but the Bank will also need to balance this with maintaining its independence to avoid perceptions of aiding government fiscal policy.

The Credit Fund of the AfCFTA Adjustment Fund has made its first investment,

AfCFTA has extended a $10 million senior secured amortising loan to Telecel Global Services.The fund is one of three under the AfCFTA Adjustment Fund, set up by the AfCFTA Secretariat and the African Export-Import Bank to support governments and companies adjusting to the African Continental Free Trade Area. Telecel Global Services, a subsidiary of the Mauritius-based Telecel Group, provides wholesale voice and SMS services and enterprise connectivity solutions to more than 250 telecom operators across Africa. This facility will support Telecel’s expansion in Ghana and Liberia, strengthen its infrastructure, and contribute to bridging Africa’s digital divide through driving higher rates of connectivity across Africa.

Business, Tech & Market News Shorts: 

• The Takealot Group, a South African e-commerce major, is looking to improve its on-demand delivery by partnering with Mr Dilivery (Mr D) takeaway food platform to handle pet supplies, toys and other high-frequency purchase items in a bid to fend off growing competition from the likes of Amazon.
• Microsoft has announced that it will no longer be using Chinese software engineers for its work for the US Department of Defence (DoD), the is after a Pro Publica report claimed that Microsoft was using engineers in China to help maintain cloud computing systems for the U.S. DoD, the company said it’s made changes to ensure this will no longer happen.
• Andy Byron, the CEO of Astronomer has resigned after a social media frenzy when Byron, who is married, was captured on a Coldplay music concert “kiss cam” with his arms around the company’s chief people officer Kristin Cabot. 
• Vodacom’s proposed acquisition of a 30% stake in fibre network operator Maziv may see its value grow to around the R36-billion mark, and would also see Masiv’s value eclipsing that of National Telco Giant Telkom after agreeing revised terms on Friday.  Maziv, also owns fibre companies Vumatel and Dark Fibre Africa.
• Klaus Schwab, the World Economic Forum founder has denied allegations of misconduct by the board, that were reportedly substantiated by a formal investigation and accused the board of trustees of violating an agreement regarding media discretion on the matter. The allegations include that he altered report findings and that he submitted unjustified expense claims.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar fairly flat against the Euro at 1.16319 and against the Pound at 1.4220 The Yen is currently at 148.27 to the dollar. The rand is currently at R17.70 to the US dollar. 

Commodities:

• Gold futures prices are trading 0,5% higher this morning, and are currently at $3368 per ounce.  
• Copper prices are trending around 0,4% higher today, with prices currently at $5.5779 
• Silver futures prices are trading 0,3% up this morning, and are currently at $39.299
• Platinum futures are around 0,58% higher this morning, and are currently trading at $1444.7. While Palladium prices are trading over 0,6% higher this morning and currently at $1295
• Brent crude oil prices are currently at $69.56, with WTI trading at $67.67. 
• Cocoa futures have regained some of its losses from last week and are up by over 6% this morning, and currently at $7800 per ton. 
• Coffee futures have fallen by more than -1% this morning, and currently at $303.60

Crypto Currencies:

• Bitcoin prices are trending upwards today, and currently at $118325
• Ether prices are trending slightly upwards this morning and currently at $3771.34
• $Trumpcoin is currently trading around $10.82

(All prices quoted at approximately 07H35 Central African Time) 

Other Breaking News in Africa Today

DRC Peace Accord Signed – Hope for Peace Grows

The Democratic Republic (DRC)and the Rwandan backed M23 rebel group have signed a far-reaching truce aimed at ending the conflict in the Eastern region of the DRC. There have been ongoing US sponsored peace negotiations that finally reached an agreement in Doha, Qatar. This includes a permanent halt to hostilities on land, in the air, and on water. It also bans sabotage, hate propaganda, and any attempt to seize new territory by force. Qatari Minister of State for Foreign Affairs, Mohammed bin Abdulaziz Al-Khulaifi, welcomed the breakthrough. “The Declaration of Principles signed today paves the way for direct negotiations towards a comprehensive peace that addresses the deep-rooted causes of the conflict, with a commitment to implement the agreement’s articles responsibly,” he said. Both sides have pledged to cooperate fully with international and regional bodies.

A key provision is a roadmap to restore state authority in eastern DRC, where the government has long struggled to maintain control. U.S. Senior Advisor Massad Boulos emphasized the importance of reaffirming national sovereignty, calling it “a normal thing for any country,” and stressed the need for continued dialogue and persistence.