Stocks climb eyeing US rate cuts, political changes

Stock markets mostly rose and gold hit a record high Tuesday as traders balanced expectations of cuts to US interest rates with political shakeups in Japan and France. Tokyo’s Nikkei briefly spiked to a new record but ended down as political upheaval in Japan offset 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.On Tuesday, the Paris CAC 40 made solid gains in midday deals. French Prime Minister Francois Bayrou was Tuesday to submit his resignation to President Emmanuel Macron after parliament ousted the government.Bayrou on Monday suffered a crushing loss in a confidence vote he had himself called.France’s borrowing costs exceeded those of traditional European debt-laggard Italy Tuesday, while safe haven bet gold extended its record run higher.The precious metal hit an all-time high $3,659.36 an ounce.However, with Paris stocks rising, “for now, the market impact seems limited”, noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank. The Nasdaq hit a record high Monday, “helped by expectations of lower Fed rates”, she added.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 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, the mining sector was in focus after British group Anglo American and 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 surged more than 10 percent in London deals Tuesday, while Teck’s stock rallied in after-hours trading. 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 deadly anti-government protests across the country.- Key figures at around 1045 GMT -London – FTSE 100: UP 0.2 percent at 9,242.52 pointsParis – CAC 40: UP 0.4 percent at 7,766.45Frankfurt – DAX: DOWN 0.3 percent at 23,730.50Tokyo – 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)New York – Dow: UP 0.2 percent at 45,514.95 (close)Euro/dollar: DOWN at $1.1756 from $1.1760 on MondayPound/dollar: UP at $1.3578 from $1.3549 Dollar/yen: DOWN at 146.49 from 147.43 yen Euro/pound: DOWN at 86.59 pence from 86.80 penceBrent North Sea Crude: UP 0.6 percent at $66.39 per barrelWest Texas Intermediate: UP 0.6 percent at $62.63 per barrelburs-bcp/lth

Egypt’s Sisi orders study of pardon for activist Alaa Abdel Fattah

Egyptian President Abdel Fattah al-Sisi ordered authorities on Tuesday to study a petition for a presidential pardon for prominent rights activist Alaa Abdel Fattah, the state-affiliated human rights council said.Sisi “directed the relevant authorities to study the petition” submitted by the National Human for Rights Council to pardon a number of individuals, including Abdel Fattah, a dual Egyptian-British activist who has been jailed for much of the past decade.The 43-year-old activist was a leading figure in Egypt’s 2011 uprising and was jailed under successive governments since.His mother, activist and academic Laila Soueif, recently ended a 10-month hunger strike demanding his release.Abdel Fattah himself has been on hunger strike since the start of September, following a partial strike that began in March in solidarity with his mother.The Egyptian presidency did not comment on the petition and the move does not guarantee Abdel Fattah’s release, as the pardon process can be lengthy and remains at the discretion of the president.The British government has consistently raised his case with Egyptian authorities, including during talks between Prime Minister Keir Starmer and Sisi.The council said in a statement that the petition came in response to appeals from the prisoners’ families “to grant them a new chance in life”.Following Abdel Fattah’s latest arrest in 2019, he was sentenced in December 2021 to five years in prison for “spreading false news” after sharing a Facebook post about alleged torture in Egyptian jails.Authorities told his family they had decided not to count his two years in pre-trial detention, which normally counts towards jail sentences in Egypt.In July, the criminal court ordered his removal from the country’s terrorism list, ruling that recent investigations showed no evidence linking him to the outlawed Muslim Brotherhood. The United Nations has called his detention arbitrary and urged his immediate release.While Egypt has recently issued presidential pardons for several political prisoners, Abdel Fattah has remained behind bars.

Indignation après la découverte de têtes de cochon devant des mosquées en Ile-de-France

“Une nouvelle et triste étape dans la montée de la haine antimusulmane”: plusieurs têtes de cochon ont été découvertes mardi matin devant des mosquées de la capitale et de région parisienne, suscitant de vives réactions.Ces têtes de porc, animal considéré comme impur par l’islam, ont notamment été découvertes sur la voie publique à Paris, “devant l’entrée de la mosquée Islah” à Montreuil (Seine-Saint-Denis), ainsi qu’à Montrouge,  Malakoff (Hauts-de-Seine) et Gentilly (Val-de-Marne), a appris l’AFP auprès de différentes sources.A Paris, trois têtes ont été découvertes devant des mosquées du 20e et du 15e arrondissement, ainsi que “dans une valise dans le 18e arrondissement”, a précisé le parquet de Paris, ajoutant que le mot “Macron” avait été peint en bleu sur l’un des lieux.Le préfet de police de Paris Laurent Nuñez a annoncé l’ouverture immédiate d’une enquête, assurant que “tout (était) mis en œuvre pour retrouver les auteurs de ces actes abjects”.L’enquête pour provocation à la haine aggravée par la discrimination en raison de l’appartenance à une race ou religion a été confiée à la brigade criminelle de la préfecture de police de Paris, selon le parquet de la capitale.Le recteur de la Grande mosquée de Paris Chems-eddine Hafiz a dénoncé “une nouvelle et triste étape dans la montée de la haine antimusulmane”, appelant  dans un communiqué “à une prise de conscience et à une solidarité nationale”, après s’être entretenu avec la ministre déléguée chargée de la Lutte contre les discriminations Aurore Bergé.- “Sorte de profanation” -La maire de Paris Anne Hidalgo a condamné des “actes racistes” et a assuré de sa “solidarité avec la communauté musulmane”, précisant que la Ville de Paris avait saisi la justice.De son côté, le ministre de l’Intérieur Bruno Retailleau a fait part de son “indignation” face à “cette sorte de profanation”. “J’entends que nos compatriotes musulmans puissent exercer leur foi dans la sérénité”, a-t-il ajouté devant la presse. “Cela fait des mois qu’on alerte, et nous ne sommes pas entendus”, a affirmé à l’AFP Bassirou Camara, le président de l’Addam (association de défense contre les discriminations et les actes antimusulmans), demandant une “réaction forte” des autorités. “On craint que ça aille crescendo. Quel va être la prochaine étape? Jeter des têtes de cochon sur les fidèles ou les agresser physiquement?”, s’est-il interrogé.Sur X, plusieurs personnalités de gauche ont vivement dénoncé ces actes.”Au début la fachosphère s’en prenait aux clandestins, puis est venu le tour des immigrés en situation régulière, ensuite celui des binationaux, maintenant les Français musulmans sur leurs lieux de culte (…) L’identité de la France, c’est Liberté, Égalité, Fraternité !”, a déploré le premier secrétaire du Parti socialiste, Olivier Faure.”L’islamophobie est un cancer de la société. Soutien à nos compatriotes musulmans encore une fois visés”, a commenté de son côté le coordinateur de LFI, Manuel Bompard.Même indignation à droite, la présidente LR de la région Ile-de-France, Valérie Pécresse, estimant ainsi que la République devait “protéger les croyants devant les profanations de leurs lieux de cultes qui se multiplient”.Des têtes de cochon avaient déjà été déposées devant le local d’une association musulmane dans le Pas-de-Calais en 2024, sur le chantier d’une mosquée de Dordogne en 2019 ou encore devant une mosquée de la Marne en 2017.La France compte entre cinq et six millions de musulmans pratiquants et non-pratiquants, ce qui fait de l’islam la deuxième religion du pays et de la communauté musulmane française la première en Europe. sm-dmv-mdb-cg-juc-fbe-law/mat/cbr

Ethiopia inaugurates Africa’s biggest dam

Ethiopia inaugurated the continent’s largest hydroelectric project on Tuesday, with Prime Minister Abiy Ahmed calling it a “great achievement for all black people” despite years of diplomatic rancour over the dam with downstream neighbour Egypt. For Ethiopia, the Grand 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.The latest figures from its Italian construction firm Webuild said the dam reached 170 metres (550 feet) high and stretched nearly two kilometres (1.2 miles) across the Blue Nile near the Sudanese border. 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, it said.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 neighbouring 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” and vowing to take all measures under international law to defend its water security. “For downstream countries, Ethiopia has accomplished GERD as a shining example for black people. It will not affect your development at all,” Abiy 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 argue the GERD, under construction since 2011, could transform Ethiopia’s economy, boosting industrial production, enabling a shift towards electric vehicles and supplying power-hungry neighbours through regional interconnectors 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 Addis Ababa force businesses and households to rely on generators.”It is no longer a dream but a fact,” Pietro Salini, CEO of Webuild, who built the dam, told AFP from the inauguration.He said they faced many challenges in training workers, mobilising finance and coping with 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.He denied there was any reason for neighbouring countries like Egypt and Sudan to be concerned. “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.Attempts to mediate between Ethiopia and its neighbours 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. 

‘World watches our slaughter’: Gazans flee Israeli assault on urban hub

A constant stream of Palestinians fled in tractors, carts and overloaded vans down a coastal road in the central Gaza Strip, the latest mass displacement as Israel intensified its assault on the territory’s main city.Those escaping the offensive on Gaza City left behind them a scene of utter devastation, where smoke from the aftermath of Israeli strikes wafted behind buildings that had already been reduced to rubble.The United Nations estimates that nearly a million people live in Gaza City and its surroundings — the Palestinian territory’s largest urban centre which the Israeli military is gearing up to seize.The army on Tuesday told all residents to leave immediately and head southwards, saying it would act with “great force” in the city.”We were forcibly displaced to the southern Gaza Strip under intensified shelling,” said Saeb al-Mobayed, who was fleeing Gaza City along the coastal road.”Many buildings have been destroyed,” he told AFP. “Mosques near areas sheltering displaced people were also targeted, forcing us to leave.”Israel has come under mounting international pressure to end its offensive in Gaza, where the vast majority of the population has been displaced at least once in nearly two years of war.Some of those forced into their latest move travelled on trucks and tractor-pulled trailers piled high with people and household furniture, while others had little choice but to push heavy carts by hand. Ahmed Shamlakh, who had also been displaced from Gaza City, pleaded for an end to the war and for crossings into the Palestinian territory to be opened.”Allow life to return to normal as it was before — it’s enough,” he said.The Israeli military is telling Palestinians to head to a “humanitarian zone” in the southern coastal area of Al-Mawasi, where it says aid, medical care and humanitarian infrastructure will be provided.Israel first declared the area a safe zone early in the war, but has carried out repeated strikes on it since then, saying it is targeting Hamas.Gazans have said the journey south is prohibitively expensive and that there is no more space to pitch tents in the designated zones.The spokesman for Gaza’s civil defence agency, Mahmud Bassal, told AFP on Tuesday that even in central and southern areas of the territory: “there are no basic necessities for life — no shelter, no space for tents, no food, and no drinking water.”Media restrictions in Gaza and difficulties in accessing many areas mean AFP is unable to independently verify the details provided by the civil defence agency or the Israeli military.- ‘Killings everywhere’ -In Gaza City on Tuesday, Israeli army leaflets rained down on Palestinians ordering them to evacuate.”I ask Israel: where are we supposed to go?” said 36-year-old Khaled Khuwaiter, who had already fled from Gaza City’s Zeitun neighbourhood.”People who fled from Gaza City to the Al-Mawasi area… found no place to stay — no tents, no water, no food,” he added.”Bombing and killings are everywhere. We have only God, because the world watches our slaughter and does nothing.”Mirvat Abu Muammar, 30, said she had already fled once with her husband and three children and that they now had no basic supplies.”Evacuation is humiliating,” she said.”We will wait and see. For two years, we have not known a moment of peace or sleep — only killing, destruction, and despair.”Hamas’s October 7, 2023 attack on Israel that sparked the war resulted in the deaths of 1,219 people, mostly civilians, according to an AFP tally based on Israeli figures.Israel’s retaliatory offensive has killed at least 64,522 Palestinians, most of them civilians, according to figures from the health ministry in Hamas-run Gaza that the United Nations considers reliable.

‘Da Vinci Code’ author Dan Brown releases latest thriller

Best-selling American author Dan Brown, creator of the publishing phenomenon “The Da Vinci Code”, released his latest thriller Tuesday in 16 languages simultaneously.”The Secret of Secrets”, which runs to nearly 700 pages in English, marks Brown’s return eight years after his last novel, “Origin”.Brown called it “by far the most intricately plotted and ambitious novel I’ve written to date.””The hallmarks of Dan’s books — codes, art, history, religion, and cutting-edge science –- are on full display alongside a propulsive plot,” the CEO of publisher Penguin Random House Global, Nihar Malaviya, said in a statement. Publishers, printers and translators worked in secrecy and with strict confidentiality clauses to prevent leaks in the run up to the release.Brown, 61, is set to begin a month-long promotional tour on Tuesday in New York that will take him to 12 countries. The New York Times was broadly positive in a review published Tuesday, while noting that its “hyperactive plotting runs on hyperventilating prose”. Britain’s The Guardian newspaper called it “weapons-grade nonsense from beginning to end”.After two little-noticed early books, the discreet American high school teacher became one of the world’s best-selling authors in 2003 with “The Da Vinci Code”.With a complex plot revolving around the supposed descendants of Jesus, the Mona Lisa and freemasonry, the novel won him millions of fans but also criticism from scholars who said his works were riddled with errors and nonsense.US publisher Penguin Random House says Brown has sold more than 250 million copies in 56 languages.