Manus on Markets: Trump sets stage for high-stakes Alaska summit
Manus Cranny, The National's geo-economics editor, cuts through the noise and presents insights from the stories making headlines around the world.
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UAE Moments
3 hours ago
- UAE Moments
♍ Virgo: Daily Horoscope for August 17th 2025
Today, Virgo, the Universe offers you a blank canvas—no major astrological waves, just the gentle hum of your own energy. This is your invitation to reconnect with your inner order and let your meticulous nature shine. Love Horoscope In love, Virgo, your attention to detail can be your secret weapon, but don't let it turn into nitpicking. Today, focus on the little gestures—a thoughtful message, a shared laugh, or a surprise coffee for your partner. If you're single, notice the small signs of affection from those around you; sometimes, love hides in the details. Let your heart be open to the subtle energies that connect us all. Remember, romance isn't always grand gestures—it's often found in the everyday magic you create together. Career Horoscope At work, your methodical approach is your greatest ally. Use this calm day to tackle lingering tasks or organize your projects. Maybe it's time to finally clear out that overflowing inbox or update your to-do list. Your colleagues will appreciate your reliability and the sense of order you bring to the team. Don't be afraid to share your organizational tips—your wisdom can inspire others! Today, your steady hand can turn routine chores into satisfying victories. Celebrate each small accomplishment; they add up to big results. Finance Horoscope Financially, today is perfect for reviewing your budget or organizing your expenses. Your natural attention to detail will help you spot areas where you can save or invest more wisely. Maybe it's time to unsubscribe from that service you never use or finally compare insurance plans. Approach your finances with curiosity and creativity—think of it as a puzzle to solve, not a chore. Remember, every little saving adds up. Trust your instincts and let your practical side guide you toward greater abundance and security. Health Horoscope Your well-being thrives when your environment is in harmony, Virgo. Take a moment to declutter your living space or refresh your daily routine. A tidy home can bring peace to a busy mind. Why not try a short meditation or a mindful walk in nature? These simple acts can help you reconnect with your body and spirit. Remember, caring for yourself isn't selfish—it's essential. Treat yourself with the same kindness and attention you offer others. Today, small self-care rituals can have a big impact on your mood and energy.
Zawya
12 hours ago
- Zawya
Rule of law is Africa's new gold: African Development Bank Group's (AfDB's) Adesina calls for bold legal and governance reforms to unlock prosperity
'When Africa stands for the rule of law, the world will stand with Africa,' the President of the African Development Bank Group ( Dr Akinwumi Adesina, has told more than 1,200 lawyers, judges, and government officials attending the Kenya Law Society's 2025 Annual Conference. Delivering the closing keynote, title Public Finance, Governance, Justice and Development, Dr. Adesina drew a clear link between judicial independence, sound public finance, and sustainable economic growth. He stressed that Africa's true wealth lies not only in its natural resources but also in its ability to govern them transparently, enforce contracts fairly, and ensure justice for all citizens. Turning challenges into opportunities Africa faces a $100 billion annual gap in foreign direct investment, he noted, a situation compounded by weak rule of law rankings, debt vulnerabilities, and predatory 'vulture fund' cases. These involve investors buying national debt at a discount on secondary markets, then exploiting weak legal systems to sue debtor nations for full repayment — plus backdated interest and legal fees. 'Evidence suggests that foreign direct investments move more to countries that have political stability, stable democracies, transparency, and low levels of corruption,' Adesina said during the conference held at Kenya's coastal town of Diani, some 35 kilometres south of Mombasa. Other key drivers, he added, include an independent and transparent judiciary, strong regulatory frameworks, public accountability, efficient public service, competition policy, and respect for intellectual property rights. He also underlined the vital connection between justice and development, arguing that access to justice must be universal. This means legal aid, digitised courts, and grievance mechanisms that bring the law closer to citizens. 'Justice is not a byproduct of development — it is the foundation of development,' he declared. Adesina urged African nations to: Strengthen judicial independence and transparency to attract global capital. Reform natural resource laws to ensure benefits reach communities, not elites. Develop sovereign wealth funds to safeguard prosperity for future generations. Build strong African arbitration systems to settle disputes locally and fairly. He challenged Africa's lawyers, judges, and arbitrators to rise as 'guardians of promise and stewards of destiny' by enforcing constitutional safeguards on public finance. He called on the Kenya Law Society members to champion ethics and environmental, social, and governance (ESG) principles, digitise court systems, improve legal infrastructure, and protect national assets from predatory debt practices. Adesina's keynote culminated a 3-day conference focused on corporate governance, protecting constitutionalism and the rule of law, responsible public finance management, and digitalization of legal systems. The closing ceremony included the participation of Kenya's legal luminaries and government, including Kenya's Chief Justice Martha Koome, Kenya Law Society President Faith Odhiambo, Mombasa County Governor Abdulswamad Nassir and the AfDB's Director General of East Africa Alex Mubiru. Solutions in motion The African Development Bank supports its regional member countries to address governance, public finance, and justice challenges. In Rwanda and Côte d'Ivoire, Bank support to create and modernise specialised commercial courts has reduced dispute resolution times by nearly half, unlocking more than $1 billion in investment. In Seychelles, Bank-backed constitutional reforms require all sovereign borrowing to receive parliamentary approval — contributing to a fall in the debt-to-GDP ratio from over 100% to below 55%. In Kenya, Bank-supported procurement and debt transparency reforms, including parliamentary oversight of public borrowing, are safeguarding public funds. Known as Africa's 'Optimist-in-Chief,' Adesina urged the continent's legal community to recognise that they hold the keys to turning governance into growth and making development a daily reality rather than a distant promise. 'Let us make a choice that history will record, and generations will remember,' he said. 'As lawyers, justices and guardians of the law, I urge you to uphold the rule of law, to execute justice with fairness and righteousness.' Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
UAE Moments
15 hours ago
- UAE Moments
The Powerhouse of Investment
Stop Telling People to 'Just Save More Money' – Here's the Real Hot Take We've all heard it. The go-to, seemingly universal financial advice: 'Just save more money.' It sounds simple, responsible, and… frankly, a little lazy. While the intention is good, this oversimplified mantra often overlooks a crucial point and can even lead people to financial disappointment in the long run. My hot take? Your savings rate is only half the battle. The real game-changer is your investment strategy. Think about it. You diligently squirrel away every extra dollar, proud of your growing savings account balance. But what's that money doing? In today's economic climate, with inflation stubbornly eroding purchasing power, simply hoarding cash can be a surprisingly ineffective strategy. That dollar you diligently saved last year buys less this year. It's a silent erosion of your financial future. The Myth of the Mattress (and Low-Yield Savings) Stashing cash under your mattress (or in a low-interest savings account that barely keeps pace with inflation) is akin to treading water while the current pulls you backward. Your nominal balance might increase, but its real value – what it can buy – diminishes over time. Inflation is the silent thief of your savings. The Powerhouse of Investment This is where the often-overlooked 'I-word' comes in: investing. A well-crafted investment strategy, tailored to your risk tolerance and time horizon, offers the potential to outpace inflation and grow your wealth exponentially through the magic of compounding. Beating the Inflation Beast: Investing in a diversified portfolio of assets like stocks, bonds, and even real estate provides the opportunity for your money to grow at a rate that historically surpasses inflation. This is how you truly build and preserve wealth. Compounding: The Eighth Wonder: Albert Einstein supposedly called compound interest the 'eighth wonder of the world.' When your investments generate returns, and those returns are reinvested, they start earning their own returns. Over time, this snowball effect can dwarf the impact of simply saving more. Strategic Risk vs. Stagnant Safety: Yes, investing involves risk. But staying entirely in cash also carries a significant risk – the certainty of losing purchasing power to inflation. A thoughtful investment approach involves understanding and managing risk, not avoiding it altogether. It's Not Just How Much You Save, But Where You Grow So, the next time someone tells you to 'just save more money,' gently push back. Explain that while saving is fundamental, it's the strategic allocation of those savings into appreciating assets that truly builds long-term financial security. Here's the real advice: Establish a Budget: Know where your money is going. Save Consistently: Make saving a non-negotiable part of your financial routine. Educate Yourself on Investing: Understand different asset classes and investment strategies. Develop an Investment Plan: Tailor it to your goals, time horizon, and risk tolerance. Start Investing Early (Even Small Amounts): Time in the market beats timing the market. Review and Adjust: Your financial situation and goals will evolve, so your investment plan should too. Let's shift the conversation from the simplistic 'save more' to the more empowering and effective 'invest strategically.' Your future self will thank you.
