Breaking News Today – Tuesday 22 July 2025

Business & Tech News 

Key Banks Looking to Incorporate Crypto Products

In a move indicative of wider market acceptance of Cryptocurrency products, banking major, PMorgan Chase is reported to be looking at developing loan products that will be offered against exploring cryptocurrency holdings, that will include bitcoin and ethereum crypto holdings. They plan to make the new offering available from 2026 according to a report in the Financial Times today. The move comes as other major U.S. banks, including Bank of America and Citibank are developing their own stablecoins amid a broader push for more crypto-friendly regulation in Washington.

Indian Stocks Rise

Shares in India rose 176 points, or 0.2%, to 82,377, while the Nifty 50 climbed 0.1% in early morning trade today, gaining for the second consecutive session. The rally driven predominantly by the banking and financial services sectors. The BSE Sensex tracked overnight gains on the S&P 500 and Nasdaq, driven by optimism over strong corporate earnings. Traders remained focused on Q1 earnings, with 52 companies set to announce their results, including Mahindra & Mahindra Financial Services, Paytm, and Colgate. However, ongoing uncertainty surrounding trade negotiations between the US and India ahead of the August 1 deadline restricted gains. Paytm surged 2.5% ahead of its Q1 earnings release, with the company expected to report strong revenue growth. Other early gainers included Titan and HDFC Bank, both up 0.8%, while ICICI Bank, JSW Steel, and Axis Bank each rose 0.6%.

Japan Election Uncertainty Impacts Markets

Japan’s 10-year government bond yield edged down to around 1.51% in post-holiday trade this morning, with investor markets still digesting the weekend election results. The ruling coalition lost its upper house majority, however the outcome was widely expected and already priced in. Prime Minister Shigeru Ishiba is expected to remain in office, easing concerns over political instability. Ishiba reaffirmed his commitment to leading ongoing tariff negotiations with the US and managing key domestic policy issues. Meanwhile, opposition parties are likely to advocate for expanded fiscal stimulus and tax cuts—measures that could put downward pressure on the yen and push yields higher in the coming months. On trade, Japan’s chief negotiator Ryosei Akazawa said Monday he still aims to strike a deal with the US by the August 1 deadline, despite the election setback.

Business, Tech & Market News Shorts: 

• Revego Africa Energy Fund says it it looking to raise around $57 million in new additional renewable energy funding to develop five wind-power generation sites in South Africa and elsewhere on the continent. The groups has already developed 10 Wid generation plants in South Africa.
• Tesla has officially opened its first Diner & Drive-In, yesterday which incorporaates retro nostalgia with a futuristic touch with the automaker’s fast-charging network. The dinner officially opened at 4:20 p.m. yesterday in Hollywood, California.
• Auto Maker Stellantis, has indicated yesterday that it expects severe impact from U.S. tariffs on vehicles and auto part imports in the second half of 2025, when it reported a preliminary 2.3 billion euro net loss for the first six months of the year.
• Apple’s iPhone sales in China fell by – 1.6% year-on-year while Chinese mobile maker Huawei saw sales rise by 17.6%, Counterpoint said in a press statement. Overall, smartphone shipments in China were down 2.4% for the second quarter compared with a year ago, according to Counterpoint Research.
  
  

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar flat against the Euro at 1.16881 and against the Pound at 1.34738 The Yen is currently at 147.73 to the dollar. The rand is currently at R17.62 to the US dollar. 

Commodities:

• Gold futures prices are currently at $3388 per ounce.  
• Copper prices are currently at $5.5802 
• Silver futures prices are currently at $38.846
• Platinum futures are around 0,5% lower this morning, and are currently trading at $1471 While Palladium prices are trading over 0,7% lower this morning and currently at $1298
• Brent crude oil prices are currently at $68.72, with WTI trading at $65.53. 
• Cocoa futures have regained more of its losses from last week and are up by over 4% this morning, and currently at $8156 per ton. 
• Coffee futures are currently at $292

Crypto Currencies:

• Bitcoin prices are trending lower today, and currently at $117341
• Ether prices are trending slightly lower this morning and currently at $3689
• $Trumpcoin is currently trading around $10.70

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

Other Breaking News in Africa Today

Activist Boniface Freed in Kenya

Kenyan social activist Boniface Mwangi, has been released by Kenyan authorities yesterday and has dismissed the government’s attempt to link him to anti-government protests, calling it a weak and desperate move to silence dissent. Mwangi appeared in court on Monday, charged with unlawful possession of ammunition, a case regarding his alleged role in the national demonstrations that have gripped Kenya since last year. The charges raised against Mwangi accused him of illegally possessing three tear gas canisters. His lawyer, Njanja Maina, strongly denied the allegations, calling them fabricated. The Kenya Human Rights Commission also condemned the case as a “trumped-up accusation”. Mwangi was released on bond shortly after the hearing. Outside the court, he delivered a defiant message to journalists, calling President William Ruto a “real terrorist.”