Zambia Court Adjoins ZCCM to Sampa's Challenge on Mopani Sale
ZCCM Investments Holdings Plc was joined to the petition challenging the 2024 transaction on June 20, it said in a regulatory statement Thursday.
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Bloomberg
20 minutes ago
- Bloomberg
Trump Tariffs Have Africa Scrambling to Protect Vital Exports
African nations are rushing to soften the blow of Donald Trump's tariffs after none were granted a trade pact before his Aug. 1 deadline, threatening everything from Kenyan tea to Libyan oil in a region home to many of the poorest people on earth. Cyril Ramaphosa, president of South Africa which now faces the continent's joint-highest levy of 30% on exports to the US, is scaling up foreign trade missions and crafting measures to help hard-hit sectors like automobiles and citrus farmers.
Yahoo
an hour ago
- Yahoo
China's exports and imports picked up in July, helped by the pause in Trump's higher tariffs
BANGKOK (AP) — China's exports surged 7.2% in July from a year earlier while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of a truce in President Donald Trump' s trade war with Beijing. However, analysts said the improvement also reflected a low base for comparison in July 2024. Exports to the United States sank nearly 22% year-on-year, while imports from America fell almost 19%. But exports to Africa and Southeast Asia surged at double-digit rates as Chinese businesses diverted sales to other markets. Tariffs on Chinese goods are being considered separately from the new higher tariffs that took effect on Thursday for dozens of U.S. trading partners. China's global trade surplus for 2025 rose to $683.5 billion by the end of July, nearly a third higher than the surplus for the same period last year. The data showed that China's surplus in July was $98.2 billion, while its exports to the United States were $23.7 billion than its imports of U.S. goods. U.S. imports from China are subject to tariffs of at least 30%, with some products facing much higher import duties. Trump earlier had ordered still higher rates of up to 245%, and Beijing responded in kind, but the two sides agreed to pause those to allow time for trade talks. It's unclear if the truce will be extended beyond an Aug. 12 deadline following the latest round of negotiations last week in Sweden. The Trump administration has also raised tariffs on imports from countries other than China that it suspects of being 'transshipped" via other countries. For example, the import duty on Vietnam's exports to the U.S. now stands at 20%. For transshipped goods, it's 40%. 'With the temporary boost to demand from the U.S.-China trade truce already fading and tariffs on shipments rerouted via other countries now rising, exports look set to remain under pressure in the near term,' Zichun Huang of Capital Economics said in a report. Economists had been expecting China's dollar-denominated exports to grow less than 6% in annual terms in July, on a par with June's 5.8% rate. But improved trade with the rest of the world has helped offset the impact of Trump's trade war. Imports rose 4.1% last month from a year earlier, the most since July 2024, with higher shipments of crude oil, copper and soybeans. China's exports of rare earths that are vital for making many high-tech and other products and Trump has made ensuring U.S. access to such vital minerals a key part of trade negotiations, leading Beijing to promise to loosen some controls. In July, China's exports of rare earths fell 17.6%, compared with a nearly 50% fall the month before. In January-July, its rare earths exports fell 24.2% in dollar terms although they rose more than 13 percent by volume. Exports of vehicles, fertilizer, ships and auto parts also saw strong growth.
Yahoo
an hour ago
- Yahoo
Metals Gain as Chinese Trade Data Indicates Robust Demand
(Bloomberg) -- All base metals advanced in London as data pointed to surprising strength in China's imports and exports — suggesting a healthy demand in the world's most important market for industrial commodities. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station Despite tariffs imposed by President Donald Trump, growth in shipments from China unexpectedly accelerated in July as suppliers turned to alternative markets. The total value of exports jumped 7.2% from a year earlier, beating economists' forecasts for 5.6% growth. China's manufacturers have increasingly leaned on exports to offset softer growth at home, a trend that helps sustain demand for commodities. Metals are widely used to make industrial products like air conditioners, cars and consumer goods that are sold abroad. Copper imports were also stronger-than-expected, said Zhou Xiao'ou, an analyst with Zijin Tianfeng Futures Co. Purchases of the unwrought metal and products reached 480,000 tons in June, the highest level this year. Russian shipments and cargoes from Chinese-owned mines in Africa may have replaced those rerouted to the US to beat the Trump administration's tariff deadline, she said. Aluminum on the London Metal Exchange gained for a third day, rising 0.6% to $2,625 a ton by 11:25 a.m. London time. Copper was up 0.4% and zinc increased 1%. --With assistance from Sarah Chen and Jack Ryan. Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery Government Steps Up Campaign Against Business School Diversity ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
