Breaking News Today – Wednesday 27 August 2025

Business & Tech News 

Space X’s StarShip Tenth Launch a Success

SpaceX’s massive 122.83 meter Starship rocket lifted off on its tenth test flight from Starbase, Texas, last night, successfully meeting long sought milestones after several launch failures. The rocket ascended on 33 methane-fueled Raptor engines before separating around three minutes after liftoff.Starship’s tenth flight test lifted off on August 26, 2025, at 6:30 p.m. CT from Starbase, Texas, taking a significant step forward in developing the world’s first fully reusable launch vehicle. According to SpaceX, every major objective was met, providing critical data to inform designs of the next generation Starship and Super Heavy. For the first time on a Starship flight, it opened its payload door and released eight Starlink mass-simular satellites. During the critical reentry phase, Starship was able to gather data on the performance of its heatshield and structure as it was intentionally stressed to push the envelope on vehicle capabilities.

Cocoa Futures Continue to Decline

Cocoa futures prices have fallen sharply today, and are down by -5.34% this morning and by -11.58% this month. The fall of has been driven by a number of factors, including improving weather conditions in West Africa, lower demand for cocoa from food producers as well as increasing supply from new cocoa producing countries in South America. There have been favourable rains in Ivory Coast and Ghana, which has eased concerns about the 2025/26 crop and increased optimism for a better harvest. The relief from supply concerns has also been by softening industrial demand from manufacturers, reflected in poor grind figures in key regions, exacerbated by looming US import tariffs of 10%–15%. Increasing supplies from new plantations in Ecuador and Brazil which are gradually maturing, are likely to contribute to improved global supply in the longer term.

US Implements Anti-Dumping Duties

The US Department of Commerce issued directives to curtail anti-dumping and has implemented countervailing duties against 10 countries on yesterday after investigations into corrosion-resistant steel products. The determinations cover USD 2.9 billion in imports from Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, the United Arab Emirates, and Vietnam, the Commerce Department said in a statement. “Commerce made its final determinations that imports of corrosion-resistant steel (CORE) into the US from ten trading partners were being dumped and/or subsidized,” the department said, as Reuters reported. Corrosion-resistant steel is used to build automobiles, appliances, and buildings. The International Trade Commission will now make its own determination of injury to the domestic steel industry, the department said.

Business, Tech & Market News Shorts: 

• Uganda, Africa’s largest coffee bean producer saw coffee exports spike by 21.4% in July compared to July 2024, boosted by a larger than expected coffee bean crop harvest in most growing areas, according to a report by the agriculture ministry released yesterday..
• The Shanghai Composite rose 0.1% to around 3,870 while the Shenzhen Component advanced 1% to 12,600 on Wednesday, extending strong August gains as Chinese technology stocks continued to lead the rally. Cambricon Technologies climbed another 3% and is now up 102% this month
• The Indian rupee weakened past 87.5 per dollar this morning, marking its fifth consecutive trading session of decline, close to record lows. Sentiment was hit by the of new US tariffs on Indian exports. The duties, which took effect today, raise levies to 50% across around $48 billion worth of goods
• Orders for Core Capital equipment in the US saw a rise of 1.1% according to data released by the US Commerce department yesterday. Core capital goods excludes aircraft and military hardware, saw a revised 0.6% decrease in June. The improvement indicates an improvement in the local manufacturing sector is likely.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is currently trading marginally upwards against the Euro at 1.16179 and against the Pound at 1.34495 The Yen is currently trading at 147.89 to the dollar. The rand (ZAR) is currently at R17.64 to the US dollar.

Commodities:

• Gold futures prices are trending -0.5% lower this morning, and are currently trading around $3376.34 per ounce.  
• Copper prices are trading marginally lower today, with prices currently at $4.4474
• Silver futures prices are edging lower today, and currently at $38.476
• Platinum futures are trading upwards this morning, and are currently trading at $1343.10 While Palladium prices are trading higher this morning and currently at $1097.50
• Brent crude oil prices are currently at $67.30, with WTI trading at $63.32 
• Cocoa futures have slumped by over -5% this morning, and are currently at $7532.00 per ton. 
• Coffee futures are marginally softer today, and currently at $384.05

Crypto Currencies:

• Bitcoin prices are trading fairly flat, and currently at $111471 
• Ether prices are currently trading higher, and at $4634.29 currently
• $Trumpcoin is currently up by over 2% today, and currently trading around $8.45

(All prices quoted at approximately 07H25 Central African Time) 

Other Breaking News in Africa Today

Somalian Politicians Sign Election Accord

Somalia’s President Hassan Sheikh Mohamoud and four key opposition leaders have signed an agreement outlining an agreement and and election framework for the upcoming national elections in Somalia. This follows the adoption of new electoral laws by the Somalian Parliament late last year, which establishesd universal suffrage for the 2026 elections. The reforms were broadly welcomed but has also faced push-back from some opposition parties who are committed to the existing indirect clan-based system. President Mohamoud expressed optimism, stating, “The doors to state reconstruction are now open,” after two months of intense discussions that led to this agreement. 

Key elements of the agreement include the election of the President by Parliament, while Members of Parliament will be elected through a system of democratic elections or universal suffrage. Political parties that secure at least 10% of the parliamentary seats will gain official recognition. Crucially, all political actors have pledged to work towards the transition to a “one person, one vote” electoral system.