Protests in Kenya: Unrest and Government Criticism Erupt Amid Allegations of Police Brutality In recent days, Kenya has been gripped by widespread protests as citizens voice their profound dissatisfaction with the current government. The demonstrations, centered in the capital city of Nairobi, reveal deep-seated issues with governance and law enforcement practices, bringing to light a critical juncture for the East African nation. The rallies escalated after several bodies were discovered in a pit at a dumpsite in the Kware area. These bodies are suspected to be those of individuals who disappeared following earlier protests, igniting public outrage. Protestors chanted slogans…
Author: BRICS+ News Services
UBS Highlights Asian Tech Giants as Next Major AI Investment Opportunity For years, the “Magnificent 7” have dominated investment portfolios worldwide, delivering substantial returns through strategic positions in American Big Tech companies. However, UBS now shifts the spotlight to Asia, proclaiming that it’s the Asian tech giants that offer the next significant upside potential. This comes at a time when global investors are increasingly exploring opportunities beyond the traditional U.S. tech landscape. UBS recommends diversifying investments with a focus on what it calls the ‘Super 8’ – a collection of dominant companies in their respective sectors, which UBS analysts believe…
China’s Economic Outlook and Xi Jinping’s Vision for Reform China, the world’s second-largest economy, has recently reported weaker-than-expected growth figures for the first half of the year. This economic slowdown has led prominent investment banks, including Goldman Sachs, to revise down their annual growth forecasts for the country. Amid these economic challenges, Chinese President Xi Jinping has amplified calls for self-confidence and self-reliance through key publications and official messaging. Xi’s Rallying Cry for Self-Reliance On the same day the disappointing economic data was released, Qiushi, the Chinese Communist Party’s (CCP) leading theoretical journal, published a significant article by President Xi.…
[ Ethiopian Airlines Honored with Global Recognition Award at Post-COVID Conference In a significant achievement, Ethiopian Airlines has been awarded the prestigious Global Recognition and Appreciation Award at the First International Post-COVID Conference in Toronto, Canada that took place on July 15, 2024. The African aviation giant is being recognized for its vital role in distributing emergency supplies across Africa during the pandemic and ensuring the delivery of essential medical equipment, ultimately contributing to saving numerous lives. The conference, which was jointly organized by Livelihood Development International Initiatives (LDII), the Intergovernmental Authority on Development (IGAD), and other partners, aimed to…
Egypt’s $50 Billion Economic Rescue Plan: A Glimpse into the Nation’s Financial Quandary In a formidable move to alleviate its economic duress, Egypt recently unveiled a $50 billion rescue package aimed at stabilizing the fragile economy. The initiative underscores the depth of the fiscal challenges confronting the nation, aiming to rejuvenate markets, mitigate inflation, and restore the confidence of both domestic and international investors. Unpacking Egypt’s Economic Woes Egypt, the most populous Arab nation, has long been grappling with economic instability. Despite numerous reform attempts, the country continues to face chronic issues such as a burgeoning population, high inflation rates,…
India’s Ambitious Push Towards a Top-Tier Logistics Sector: Enhancing Competitiveness & Creating Jobs Efficient logistics are the backbone of any robust economy. For India, becoming a globally preferred business destination hinges upon streamlining its logistics sector. This transformation promises to slash manufacturing costs, enhance business competitiveness, and weave Indian enterprises into the intricate tapestry of global value chains. A cornerstone for the Make in India initiative, the logistics sector isn’t just a business imperative; it’s a colossal employer, providing jobs to over 22 million people across the country. In a significant climb, India secured the 38th position out of 139…
Viktor Orban: The Kremlin’s Most Useful Idiot in 21st-Century Europe In a tableau reminiscent of the “dead souls” from Nikolai Gogol’s classic, 21st-century Russia’s so-called “useful idiots” serve a modern and geopolitically charged purpose. They are key figures in foreign lands bent on advancing Moscow’s interests. Among these figures, Hungarian Prime Minister Viktor Orban stands out as particularly keen to curry favor with the Kremlin. In a move that raised eyebrows and tempers across Europe, Orban recently took up the rotating presidency of the Council of the European Union—a largely ceremonial role. His first act was a series of visits…
IMF Slashes Saudi Arabia’s Growth Forecast Amid Oil Production Cuts Riyadh (Bloomberg) — The International Monetary Fund (IMF) has revised its growth projections for Saudi Arabia, reducing them more significantly than for any other major economy it monitors, a move reflecting the kingdom’s decision to cut oil supplies. According to the IMF’s latest World Economic Outlook, Saudi Arabia’s gross domestic product (GDP) is expected to grow by just 1.7% in 2024, down from the 2.6% forecast made in April. The outlook for 2025 has been adjusted downward to 4.7% from 6%. For comparison, the IMF estimates that global GDP will…
IMF Flags US Economy as Potential Obstacle to Global Soft Landing Amid BRICS De-Dollarization In a revealing report, the International Monetary Fund (IMF) has raised significant concerns about the United States economy’s ability to continue providing stability on a global scale. This alert comes at a time when the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—has been actively pursuing de-dollarization, intently reducing their reliance on the US dollar. A Global Economy in Jeopardy The IMF’s latest report highlights a “sticky spot” for the global economy, citing potential weaknesses in the US as a significant risk. This cautionary note…
From Gangs to Government: The Unlikely Rise of South Africa’s New Sports Minister, Gayton McKenzie In a nation where history and politics are deeply interwoven, South Africa has recently witnessed an extraordinary rise to power. Gayton McKenzie, a figure once synonymous with criminality, is now at the helm of the country’s sports, arts, and culture sector. His journey from a teenage bank robber to a Cabinet minister is a story that reads like a gripping thriller, peppered with drama, transformation, and an audacious political gamble. A Seismic Political Shift The African National Congress (ANC), the dominant party since Nelson Mandela’s…