Breaking News Today – Thursday 7 August 2025

Business & Tech News 

Chinese Exports Surge in July Preempting August Tariff Deadline

Chinese exports saw a surge in July with an increase of 7.2% year-on-year (yoy), rising to USD 321.8 billion. This was significantly better than market expectations of a 5.4% growth and an improvement from the 5.8% gain seen in their June growth numbers. This was the biggest gain in export shipments since April, driven by the temporary easing of tariff pressures and ahead of the August tariff deadline set by the US administration. By destination, exports grew to Japan (2.4%), South Korea (4.6%), Taiwan (19.2%), Australia 14.8%), the EU (9.2%), and the ASEAN (16.6%), while falling to the US (-21.7%).

For the 1st seven months of 2025, China’s exports climbed by 6.1% yoy, totalling USD 2.13 trillion. Export shipment growth came from agricultural products, up 1.8%, fertiliser, up 49.3%, and ships up by 15.5%. However, rare-earth exports saw a steep drop of -23% month-on-month in July, following a surge in June.

Gold and Silver Gathers New Momentum

Gold futures saw prices heading upwards in trade today edging towards the $3,380 per ounce mark, and clawing back losses from the previous session to trade at a two-week high. This was driven by renewed US tariff threats and expectations of a dovish FED monetary policy that saw the appeal of the non-interest-bearing yellow metal gain momentum. US President Trump announced a 100% tariff on imported semiconductors and chips, excluding companies that manufacture within the US. He also confirmed that Indian imports will face an additional 25% tariff, while duties on select Brazilian goods were raised to 50%. Meanwhile, disappointing US economic data and signs of a cooling labor market have reinforced expectations of a rate cut in September, with a second likely in December. Silver has followed gold’s upward trajectory this morning gaining 0.65 to move above $38 per ounce, and hitting its highest level in over a week

South African Foreign Exchange Reserves hit a Record High

South Africa’s gross foreign exchange reserves have improved to a new record high of $69.161 billion in July, up from 68.415 billion in June. This was driven by increases in gold reserves to $13.332 billion vs $13.239 billion in June, and foreign currency reserves which hit $49.395 billion vs $48.652 billion in June. However July saw a decrease in Special Drawing Rights (SDR) holdings, which fell to $6.434 billion vs $6.524 billion in June. Additionally, the forward position, representing the central bank’s unsettled or swap transactions, increased to $0.535 billion in June from $0.532 billion in the prior month. A weaker Rand / Dollar exchange rate in July may also have influenced the timing of foreign investments over the period, thereby increasing reserve holdings.

Business, Tech & Market News Shorts: 

• South African Clean energy startup HYLENR, has raised $3 million in pre-Series A funding round co- led by Valour Capital and Chhattisgarh Investments Limited, with participation from other investors such as  Karthik Sundar Iyer and Anant Sarda.
• Japan’s Coincident Index, which tracks key data such as factory output, employment, and retail sales— increased to 116.8 in June 2025 from 116.0 in the previous month, marking the highest reading since February, flash data showed. 
• U.S.-based AI accounting startup Rillet has secured $70M in a funding round led by Andreessen Horowitz and ICONIQ, as per Reuters. The platform automates financial processes for small and medium businesses, tapping into the growing demand for AI-driven efficiency tools.
• The Johannesburg Stock Exchange’s All Share Index or Alsi, pushed above the 100 000 mark again to close at 100153 with a decent market rebound after falling below 98 000 points last week. The index’s recovery has been driven by improvements in major shares in the gold and platinum mining sectors, as the gold and platinum prices continue a positive trajectory.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is currently trading lower against the Euro at 1.16744 and against the Pound at 1.33732. The Yen is currently trading at 147.02 to the dollar. The rand (ZAR)is currently at R17.873 to the US dollar.

Commodities:

• Gold futures prices are currently trading upwards this morning, and currently at $3385.25 per ounce.  
• Copper prices are trading marginally higher today, with prices currently at $4.4032
• Silver futures prices are up over 0.6% today, and currently at $38.098
• Platinum futures are trading 0.8% higher this morning, and are currently trading at $1351.70 While Palladium prices are trading 1% higher this morning and currently at $1155.50
• Brent crude oil prices are currently at $67.33, with WTI trading at $64.86 
• Cocoa futures are trading more than 1% higher today, and currently at $8470 per ton. 
• Coffee futures have dropped by more than -2% this morning, and are currently at $293

Crypto Currencies:

• Bitcoin prices are trading fairly level today, and currently at $114703
• Ether prices are trending around 0.6% higher this morning and currently at $3708.96
• $Trumpcoin is currently trading around $8.89

(All prices quoted at approximately 08H405Central African Time) 

Other Breaking News in Africa Today

Eight Dead in Ghana Helicopter Crash

Two Ghanaian ministers, the minister of defence and the minister of environment have died in a helicopter crash in the central Ashanti region. In total Eight passengers died, according to official statements.Defence Minister Edward Omane Boamah and Environment, Science and Technology Minister Ibrahim Murtala Muhammed, 50, were killed in the crash, which Chief of Staff Julius Debrah described as a “national tragedy”. The Ghana Armed Forces said the Z9 helicopter, which was carrying three crew and five passengers, had gone “off the radar”. The military helicopter had taken off from the capital, Accra, at 09:12 local time (and GMT) and was heading to the town of Obuasi for an event the ministers were attending that was aimed at dealing with Ghana’s growing illegal mining challenges.