Breaking News Today – Tuesday 12 August 2025

Business & Tech News 

US Trade Tariff Extension Lifts Markets

The 90 day extension on the deadline on trade tariffs for China that were announced late yesterday have lifted Japan’s Nikkei 225 Index to a new high with Softbank and tech stocks all moving upwards. The extension avoids triple-digit tariffs, benefiting U.S. retailers preparing for the year-end holiday season. Critics argue it delays addressing trade imbalances, while supporters see it as strategic patience to secure better terms. The move reflects Trump’s pattern of pausing tariffs to negotiate, amid pressure from Wall Street and corporate lobbies reliant on $427 billion in U.S.-China trade.

Australia’s S&P ASX Index hit a new high, with Australia’s NAB Business Confidence Index rising to 7 in July from 5 June, marking its fourth consecutive monthly gain and the highest reading since August 2022. Meanwhile Singapore’s trade ministry upgraded its economic growth forecast by a full percent to 2,5% for 2025. European markets are expected to open higher this morning, following the trend in Asian markets today.

Major US Data Releases May Shift Markets

Markets are awaiting today’s release of July’s inflation data nudging Silver futures upwards toward $38 per ounce this morning, rebounding from the previous session’s While consumer prices are expected to show a slight acceleration, markets still widely anticipate a September rate cut, with another reduction by year-end also priced in. Fed Governor Michelle Bowman said Saturday that the recent weak jobs report underscores labor market fragility and supports her view that three rate cuts will likely be appropriate this year. On the trade front, the extention of the US-China truce by another 90 days to allow more time for negotiations, has removed some tension from markets as investors now look ahead to Friday’s peace negotiation meeting between Trump and Russian President Vladimir Putin, aimed at resolving the conflict in Ukraine.

Africa’s Largest Airport Plan Gets Funding

The African Development Bank (AfDB), announced yesterday that it has agreed to $500 million dollar loan to help facilitate a new mega airport development in Ethiopia. Ethiopian Airlines Group Chief Commercial Officer Lemma Yadecha and AfDB President Akinwumi Adesina have signed an agreement appointing the AfDB as Mandated Lead Arranger. The bank will lead efforts, that will need to raise as much as $8 billion for the airport’s construction. “This world-class airport will serve as a vital gateway to progress and prosperity. More than a transport hub, it is a transformative project that will position Ethiopia among the world’s top 20 aviation hubs by 2035″, said Ethopian Finance Minister Ahmed Shide. The new travel hub is expected to become Africa’s largest airport, with construction of the airport anticipated to be completed in 2029. 

Business, Tech & Market News Shorts: 

• Elon Musk has threatened Apple with legal action over alleged antitrust violations. Musk was quoted saying “Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store,” in a post on X. ChatGPT was ranked No. 1 in the top free apps section of the American iOS store, with Musk claiming the company manipulates rankings to favour OpenAI’s ChatGPT app while suppressing xAI’s Grok rankings.
• Bitcoin surged over 3% yesterday to hit 122000 per coin before reversing gains to the 119000 level where it is currently trading. The crypto-currency hit an all-time high of $123,153.22, reached on July 14, 2025 and at current levels has grown in value by almost 97% in the past year
• Indian Electric Motorcycle Manufacturer Ultraviolette has announced a $21 million raise in an all-equity funded round, headed by Japanese electronics major TDK’s corporate venture arm. Ultraviolet has expanded into 10 European countries already and now plans further expansion into the EU market
• AOL Is finally set to shut down the original web connectivity network on 30 September this year. AOL, formerly America Online, introduced many households to the world wide web for the first time when its dial-up service launched 40 years ago in 1985, growing connectivity rapidly in the 90s and early 2000s.
• Mercedes CEO Ola Kaellenius, yesterday, criticised the European Union’s plan to ban CO2-emitting vehicles from 2035, joining a chorus of voices calling the target into question as it comes up for review this year.The ban, is up for review in the second half of 2025, with critics saying it would handicap European carmakers struggling with weak EV demand and cheap Chinese competitor products.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is currently trading flat against the Euro at 1.16198 and against the Pound at 1.34300 The Yen is currently trading at 148.29 to the dollar. The rand (ZAR)is currently at R17.74 to the US dollar.

Commodities:

• Gold futures prices are currently trading 0.3% higher this morning, and currently at $3352.66 per ounce.  
• Copper prices are trading upwards today, with prices currently at $4.4550
• Silver futures prices are trading 0ver 0.7% higher today, and currently at $37.899
• Platinum futures are trading marginally lower this morning, and are currently trading at $1330.00 While Palladium prices are marginally lower this morning and currently at $1138.50
• Brent crude oil prices are currently at $66.91, with WTI trading at $64.16 
• Cocoa futures are trading almost 3% higher today, and currently at $8778 per ton. 
• Coffee futures are flat, and are currently trading at $320

Crypto Currencies:

• Bitcoin prices are currently at $118500 
• Ether prices are trending around 1.1% higher this morning and currently at $4275.10 
• $Trumpcoin is currently marginally higher today and trading around $8.85

(All prices quoted at approximately 07H40 Central African Time) 

Other Breaking News in Africa Today

Sudan Displaced Camp Attack

The Rapid Support Forces rebel military group in Sudan has launched attacks Monday in a famine-stricken displacement camp outside of North Darfur’s capital city el-Fasher el-Fasher, leaving more than 40 displaced civilians dead, according to local rights groups. The Emergency Response Rooms group working at the Abu Shouk displacement camp said in a statement on Facebook that the RSF — which is at war with the Sudanese military — raided parts of the camp targeting citizens inside their homes. The community activist group, which provides assistance across Sudan, said at least 19 people were also injured in the attack.The Abu Shouk displacement camp outside of el-Fasher, which houses around 450,000 displaced people, has regularly been attacked over the course of the war. The Sudanese military has control over el-Fasher despite frequent strikes by the RSF.