Breaking News Today – Monday 23 June 2025

Business & Tech News 

China Sees Foreign Investments Fall: 

Foreign direct investment (FDI) in China declined by 13.2% year-on-year to USD 49.88 billion in the first five months of 2025. By sector, the manufacturing industry attracted CNY 91.52 billion in foreign capit, while the services sector received CNY 259.64 billion. High-tech industries accounted for CNY 109.04 billion in actual foreign investment, with notable growth in specific areas: e-commerce services (146%), aerospace and equipment manufacturing (74.9%), chemical pharmaceutical manufacturing (59.2%), and medical equipment and device manufacturing (20%). From a regional perspective, FDI from ASEAN countries rose by 20.5%, while inflows from Japan, the United Kingdom, South Korea, and Germany increased by 70.2%, 60.9%, 10.3%, and 7.1% 

Oil Hits five-Month High

Brent crude oil futures rose more than 1% to around $78.5 per barrel on Monday, and is currently trading at $77.89 per barrel, hovering at its highest level since 24 January. Oil prices have spiked after the US launched strikes on three Iranian nuclear facilities over the weekend. With the US becoming directly involved in the Israel-Iran conflict, fears have intensified that Tehran may retaliate by disrupting oil supply from the Middle East, particularly through the Strait of Hormuz. Iran is a major oil producer and exporter and also sits on the narrow waterway, through which about 20% of the world’s crude passes. According to state media, Iran’s parliament voted on Sunday to close the Strait in response to US strikes, although the final decision lies with Iran’s Supreme National Security Council and Supreme Leader.

Crypto Currency Bloodbath:

Wide ranging falls across the board have hit cryptocurrency markets overnight with drop in prices of between 1% and as much as 7% hitting most major cryptocurrencies.  Bitcoin US Dollar traded at below the $100000 mark for the first time in six weeks, at $99085 on Sunday June 22nd, decreasing 2545 or 2.50% since the previous trading session. Looking back, over the last four weeks, Bitcoin lost 7.66%. Over the last 12 months, its price rose by 56.48 percent. Looking ahead, analysts forecast Bitcoin US Dollar to be priced at $102869 by the end of this quarter.

Tesla gets green light for Robo-Taxi Trial

Texas Governor Greg Abbott, signed legislation requiring a state permit to operate self-driving vehicles just prioritised to Tesla’s planned launch of its autonomous vehicle robo-taxi trial on Sunday in Austin. The new law does not take effect until September 1, but the governor’s approval of it on Friday signals that state officials from both parties want the driverless-vehicle industry to proceed cautiously. A group of Democratic state lawmakers earlier this week asked Tesla to delay its planned robo-taxi trial because of the legislation not yet enacted. 

Business, Tech & Market News Shorts:

• The three month ban of cobalt from the Democratic Republic of Congo (DRC), that was set to expire yesterday, has been extended by an additional three months. The ban on exports of cobalt was intended to curb oversupply of the electric vehicle battery material, a regulatory agency Announced. 

• Niger’s government has announced that it would nationalise the Somaïr uranium production venture currently operated by French company Orano and has accused it of taking a disproportionate share of the uranium produced at the site. The announcement comes as military authorities in the west African country tighten their grip on foreign companies and civil society.
• South Africa may get assistance from the The World Bank Group via a US$500-million new credit guarantee facility that will enable South Africa to unlock private financing for a 14 500km electric grid expansion

Markets by Numbers 

Currencies: 

Currency markets indicate the US Dollar is currently trading against the Euro at 1.15025 and against the Pound at 1.34177. The Yen is currently at 147.14 to the dollar, with the rand currently at R18.07 to the US dollar. 

Commodities:

• Gold futures prices are trending lower this morning, and are currently at $3355 per ounce.  

• Copper prices are also trending slightly lower this morning and are currently at $4.8100.  

• Silver futures prices are trading upwards this morning and are currently at $36.028 

• Platinum futures are trading upwards this morning, and are currently trading at $1260.60, while Palladium prices are currently at $1043 

• Brent crude oil prices are currently at $77.73, with WTI trading at $74.54. 

• Cocoa futures are trading upwards, and up by more than 2% this morning and are currently at $8869 per ton. 

• Coffee futures prices are trending lower today, and are currently at $318.63 

Crypto Currencies:

• Bitcoin prices are currently trading upwards after a steep drop yesterday and currently at $101545

• Ether prices are also trending upwards this morning after a massive drop yesterday, and currently at $2239

• $Trumpcoin is trading at $11.21 

(All prices quoted at approximately 07H140 – Central African Time) 

Other Breaking News in Africa Today 

Economic Community of West African States (ECOWAS) Summit

ECOWAS convened yesterday, June 22, in Nigeria’s capital, Abuja with Regional heads of state gathered to evaluate the bloc’s current crisis, with growing internal instability following a wave of military coups in several member countries. ECOWAS Commission President Omar Alieu Touray is scheduled to present an update on the status of negotiations regarding the formal withdrawal of Mali, Niger, and Burkina Faso. This move would reshape the bloc’s political and economic landscape. 

Nigerian President Bola Ahmed Tinubu is due to step down from his role as ECOWAS chairman, a position he has held since 2023. Tinubu’s leadership at ECOWAS has been marked by mixed results. While he adopted a strong anti-coup stance and called for deeper regional integration, his efforts fell short. His push for military intervention against the Niger junta was ultimately abandoned, and his broader goals to revitalize the bloc remain unfulfilled.