Category Archives: World Economy

Trump Fears Tiktok Might Be Tool For Chinese Intelligence, Moves To Ban App Soon

Donald Trump, President of United States has raised fear over the fast-growing social media app TikTok that it could be a tool for Chinese intelligence and might be considering barring the app in United States.

Trump speaking said while being questioned that as far as TikTok is concerned, the government is banning it from the United States.

He added that he would take action as soon as Saturday using emergency economic power or an executive order.

Trump’s move comes following a review by the Committee on Foreign Investment (CFIUS) in the United States, which investigates deals affecting US national security.

US officials and lawmakers in recent weeks have voiced fears of the wildly popular video platform being used by Beijing for nefarious purposes, but the company has denied any links to the Chinese government.

However, TikTok declined to comment on the reports of the forced sales, saying only: “We are confident in the long-term success of TikTok.

America Backs Down, Allows Chinese Airlines Landing Permit

The United States of America government has backed down from a ban threat issued to Chinese airlines saying the airlines will now be given limited of flights to the U.S

The decision came one day after China appeared to open the door to U.S. carriers United Airlines and Delta Air Lines resuming one flight per week each into the country.

The Transportation Department said it will let Chinese passenger airlines fly a combined total of two round-trip flights per week between the U.S. and China, which it said would equal the number of flights that China’s aviation authority will allow for U.S. carriers.

Delta praised the U.S. government for trying to “ensure fairness and access to China.” United said it was reviewing the matter.

Neither said whether the latest development in the dispute between the two countries would affect their plans. Both had hoped to offer more flights.

The Transportation Department said it might further ease restrictions if China does the same. Officials are concerned, however, about conditions China is imposing that could affect whether U.S. airlines resume their flights.

Those requirements include taking temperatures of all passengers in mid-flight and suspending an airline’s future flights if five or more passengers test positive for the coronavirus after arriving in China.

China’s embassy in Washington did not respond to messages seeking comment.

The dispute between Washington and Beijing over airline service has been building for weeks and is part of broader trade and diplomatic tension between the world’s two biggest economies.

‘Covid-19 Cases in Africa Now Over 115,000’ WHO Reports

The World Health Organisation (WHO) has reported that coronavirus (COVID-19) cases in Africa as at Tuesday, had risen to over 115, 000.

The WHO Regional Office for Africa in Brazzaville, Congo, gave the update on its official twitter handle @WHOAFRO.

“There are over 115,000 confirmed COVID-19 cases on the African continent – with more than 46,000 recoveries and 3,400 deaths,” it said.

The figures showed that South Africa, Algeria and Nigeria had the highest reported cases in Africa.

According to the report, South Africa had 23,615 cases and 418 deaths followed by Algeria with 8,503 cases and 609 deaths. Nigeria had 8,068 confirmed cases and 233 deaths.

It stated that Ghana had 6,808 reported cases and 32 deaths. Cameroon recorded 4, 890 confirmed cases and 165 deaths.

The report said Lesotho, Seychelles and Namibia were countries currently with the lowest confirmed cases in the region.

It said Lesotho had only two confirmed cases with zero death; Seychelles had 11 reported cases and zero death. Namibia recorded 21 confirmed cases with no death.

Meanwhile, as at May 25, the novel coronavirus had infected more than 5.4 million people and killed over 344,000 worldwide, according to John Hopkins University.

But, World Health Organisation (WHO), Regional Director for Africa, Dr. Matshidiso Moeti, has paid tribute to African leaders for the progress they have made in their fight against COVID-19 pandemic.

Moeti gave the tribute yesterday on the official twitter account of the WHO Regional Office for Africa @WHOAFRO.
The regional director also commended Africans for their patience and support in the fight against the pandemic.

“So again, a shout out to African people, I thank them so much for the courage that they have shown, the forbearance under sometimes difficult circumstances.
“We are committed to continue in this fight with them.

“I would like to pay special tribute to African communities. It was said by the WHO Director General, Dr Tedro that our leaders have put in place some measures to control the pandemic.

“We have seen African countries take very tough decisions to put in place some of the control measures.

“I am very pleased to have joined this celebration of Africa Day yesterday, and especially pleased to have been in the company of special envoys on COVID-19 in Africa,” she said.

Africa Day is the annual commemoration of the foundation of the Organisation of African Unity on May 25, 1963.

US Dollar Trails South Africa’s Rand For Eight Weeks

South Africa’s rand raced to its highest in more than eight weeks against the U.S. dollar on Tuesday, as optimism about a global recovery from the COVID-19 pandemic boosted riskier assets, with investors looking past Sino-U.S. trade tensions.

At 0605 GMT, the rand traded at 17.4700 per dollar, 0.91 per cent firmer than its previous close.

The currency was at its strongest since March 27.

“The optimistic recovery narrative is holding within markets, keeping the dollar subdued and seeing the rand remain on a stable footing following last week’s rally,” Bianca Botes, executive director at Peregrine Treasury Solutions, said in a note.

“While there are looming geopolitical risks, it seems as though markets are currently pushing them onto the back burner, and will likely continue to do so until there is a new escalation or increased threat.”

Remember that, President Cyril Ramaphosa announced on Sunday a further easing of the country’s lockdown from June 1, allowing the vast majority of the economy to return to full capacity.

China Foreign Minister ‘We’ll Help Ease Africa Debt Burden’

Chinese Foreign Minister Wang Yi recently declared that China will work with other G20 members to implement the debt service suspension initiative to ease Africa’s debt burden.

Minister Wang made the remarks when he responded to a question asked by an African journalist at a press conference on the sidelines of the annual Chinese national legislative session on Sunday, May 24th.

According to Minister Wang, who is concurrently a State Councillor (equivalent of Deputy Prime Minister) of China’s cabinet, China and Africa are good brothers who have shared weal and woe together.

He said, “our people, having fought shoulder-to-shoulder for national liberation, are partners for common development. A few years back, we were together fighting Ebola.”

He stated that he fully agreed with the AU Commission Chairperson in saying that “Africa and China are friends and, more importantly, comrades-in-arms. Nothing can change or damage this friendship”.

Minister Wang made it clear that in the battle against COVID-19, China and Africa have again stood by each other.

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