ICC hears harrowing details as Kony war crimes hearing opensTue, 09 Sep 2025 14:17:05 GMT

Villages torched, young girls forced into sexual slavery, babies beaten and thrown into fires: the International Criminal Court Tuesday heard harrowing stories of atrocities allegedly committed by Joseph Kony’s Lord’s Resistance Army in Uganda.The fugitive warlord faces 39 counts of war crimes and crimes against humanity, including murder, rape, torture, enslavement and sexual slavery, allegedly …

ICC hears harrowing details as Kony war crimes hearing opensTue, 09 Sep 2025 14:17:05 GMT Read More »

Stocks climb as US rate cut hopes counter political shakeups

Stock markets mostly rose while gold hit a record high on Tuesday, with expectations of US rate cuts to bolster the world’s biggest economy outweighing political shakeups in Japan and France. Tokyo’s Nikkei briefly spiked to a new record before ending lower amid hopes that whoever replaces Prime Minister Shigeru Ishiba will unveil a fresh round of economic stimulus.Japan’s ruling Liberal Democratic Party will pick its new leader on October 4, replacing Ishiba, who resigned at the weekend after huge election setbacks.In Paris, the CAC 40 index moved higher after Prime Minister Francois Bayrou submitted his resignation to President Emmanuel Macron after parliament ousted his government.Bayrou on Monday suffered a crushing loss in a confidence vote he called, seeking support for over 40 billion euros ($47 billion) in budget cuts to rein in France’s debt.France’s borrowing costs briefly exceeded those of traditional European debt-laggard Italy on Tuesday, ahead of an update on the country’s credit rating from Fitch on Friday. However, with Paris stocks rising, “for now, the market impact seems limited”, said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.For Holger Schmieding, chief economist at Berenberg bank, “a genuine financial crisis with a self-reinforcing doom loop (higher yields = bigger deficits = even higher yields…) remains quite unlikely for the time being”. Gold, an investment haven in uncertain times, extended its record run, hitting an all-time high of $3,694 an ounce. The Nasdaq hit a record high on Monday, “helped by expectations of lower Fed rates”, Ozkardeskaya said.Last month’s big miss on US jobs creation raised concerns about the strength of the world’s top economy but it has stoked bets that the US Federal Reserve will loosen monetary policy, even as inflation remains stubbornly above its target.Investors are awaiting the release of fresh data on prices this week to get a better idea about the Fed’s next move, with Bloomberg reporting that expectations are for three quarter-point reductions before the end of the year.- Mining merger -On the corporate front, British mining group Anglo American and its Canadian peer Teck Resources announced plans for a multi-billion-dollar merger, creating a champion of copper production and other critical minerals.Anglo American shares jumped 10 percent in London deals on Tuesday, while Teck’s stock surged over 16 percent in early trading on the New York Stock Exchange. Shares in rival miners jumped on their coattails.Indonesian stocks and the rupiah tumbled after President Prabowo Subianto removed Finance Minister Sri Mulyani Indrawati in a cabinet reshuffle following fatal anti-government protests across the country.- Key figures at around 1340 GMT -New York – Dow: UP 0.1 percent at 45,563.48 pointsNew York – S&P 500: UP 0.1 percent at 6,504.43New York – Nasdaq: UP 0.2 percent at 21,836.85London – FTSE 100: UP 0.2 percent at 9,236.73Paris – CAC 40: UP 0.2 percent at 7,752.99Frankfurt – DAX: DOWN 0.5 percent at 23,680.39Tokyo – Nikkei 225: DOWN 0.4 percent at 43,459.29 (close)Hong Kong – Hang Seng Index: UP 1.2 percent at 25,938.13 (close)Shanghai – Composite: DOWN 0.5 percent at 3,807.29 (close)Euro/dollar: DOWN at $1.1749 from $1.1760 on MondayPound/dollar: UP at $1.3563 from $1.3549 Dollar/yen: DOWN at 146.80 from 147.43 yen Euro/pound: DOWN at 86.44 pence from 86.80 penceBrent North Sea Crude: UP 1.5 percent at $67.03 per barrelWest Texas Intermediate: UP 1.5 percent at $63.20 per barrelburs-bcp/js

Wall Street ouvre en petite hausse, prudente avant de nouveaux indicateurs économiques

La Bourse de New York a ouvert en légère hausse mardi, dans l’attente de données sur l’inflation et sur l’emploi aux Etats-Unis, qui pourraient peser sur la trajectoire monétaire privilégiée par la Fed d’ici à la fin de l’année.Dans les premiers échanges, l’indice Nasdaq prenait 0,27% et l’indice élargi S&P 500 grappillait 0,11%. Le Dow Jones était proche de l’équilibre (+0,02%).

Ethiopia inaugurates Africa’s biggest dam, drawing Egyptian protestTue, 09 Sep 2025 13:24:29 GMT

Ethiopia inaugurated the continent’s largest hydroelectric project on Tuesday in what Prime Minister Abiy Ahmed called a “great achievement for all black people”, but it drew a protest to the United Nations from downstream nation Egypt. The Grand Ethiopian Renaissance Dam (GERD), straddling a tributary of the River Nile, is a national project of historic scale …

Ethiopia inaugurates Africa’s biggest dam, drawing Egyptian protestTue, 09 Sep 2025 13:24:29 GMT Read More »

Ethiopia inaugurates Africa’s biggest dam, drawing Egyptian protest

Ethiopia inaugurated the continent’s largest hydroelectric project on Tuesday in what Prime Minister Abiy Ahmed called a “great achievement for all black people”, but it drew a protest to the United Nations from downstream nation Egypt. The Grand Ethiopian Renaissance Dam (GERD), straddling a tributary of the River Nile, is a national project of historic scale and a rare unifying symbol in a country torn apart by ongoing internal conflicts.Towering 170 metres (550 feet) and stretching nearly two kilometres (1.2 miles) across the Blue Nile near the Sudanese border, construction on the dam began in 2011.The $4-billion megastructure is designed to hold 74 billion cubic metres of water and generate 5,150 megawatts of electricity — more than double Ethiopia’s current capacity.That makes it the largest dam by power capacity in Africa, though still outside the top 10 globally. “GERD will be remembered as a great achievement not only for Ethiopia, but for all black people,” Abiy said at the opening ceremony, attended by regional leaders including Kenyan President William Ruto and Somalia’s President Hassan Sheikh Mohamud.”I invite all black people to visit the dam. It demonstrates that we, as black people, can achieve anything we plan,” said Abiy, who has made the project a cornerstone of his rule.But Egypt, dependent on the Nile for 97 percent of its water, has long decried the project, with President Abdel Fattah al-Sisi calling it an “existential threat” to its water security.In a letter to the United Nations Security Council on Tuesday, Egypt described the inauguration as a “unilateral measure that violates international law” and vowed to defend “the existential interests of its people”.Abiy again insisted the dam is not a threat. “For downstream countries, Ethiopia has accomplished GERD as a shining example for black people. It will not affect your development at all,” he said at the ceremony.- ‘No longer a dream’ -The festivities began the night before with a dazzling display of lanterns, lasers and drones writing slogans like “geopolitical rise” and “a leap into the future”.Analysts say the dam can boost Ethiopia’s industrial production, enable a shift towards electric vehicles and supply the region through power lines that stretch as far as Tanzania. Some 45 percent of Ethiopia’s 130 million people lack electricity, according to World Bank data, and frequent blackouts in the capital Addis Ababa force businesses and households to rely on generators.”It is no longer a dream but a fact,” Pietro Salini, CEO of Italian firm Webuild, the dam’s main construction contractor, told AFP.He said the project had to overcome huge manpower and financing challenges, as well as the brutal civil war of 2020-2022 between the government and rebels from the Tigray region.  But now, “this country that was dark in the evening when I first arrived here… is selling energy to neighbouring countries,” said Salini.The Blue Nile provides up to 85 percent of the water that forms the River Nile, combining with the White Nile before heading through Sudan and Egypt. But Salini dismissed concerns from the downstream nations.”The hydroelectric project releases water to produce energy. They are not irrigation schemes that consume water. There’s no change in the flow,” said Salini.Mediation efforts by the United States, World Bank, Russia, the UAE and the African Union have all faltered over the past decade. “For the Egyptian leadership, GERD is not just about water, it is about national security. A major drop in water supply threatens Egypt’s internal stability. The stakes are economic, political and deeply social,” said Mohamed Mohey el-Deen, formerly part of Egypt’s team assessing GERD’s impact.The tensions have not been all bad for Ethiopia’s government.”Ethiopia is located in a rough neighbourhood and with growing domestic political fragility, the government seeks to use the dam and confrontation with neighbours as a unifying strategy,” said Alex Vines, of the European Council on Foreign Relations.Â