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20260806 123000 UTC
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[00:00:35] well hello welcome to business incorporated live on channels
[00:00:38] television, here's what's coming
[00:00:40] up and
[00:00:44] we see uh coming up today uh the all prices uh little
[00:00:48] changed there but we see congo is banning exports and uh
[00:00:51] kenya uh the brewer there
[00:00:53] is posted growth for the financial
[00:00:56] year
[00:01:02] and gold prices are rising on hopes that there's deescalation at
[00:01:05] this
[00:01:06] time.
[00:01:11] that's good to have you join us. let's kick off now what's playing out with major commodities that we track
[00:01:15] now and that's starting with all prices there was we did see um all
[00:01:19] prices lower but uh for the wednesday trade coming into the Thursday
[00:01:23] trade now we're seeing uh some pull up therefore uh
[00:01:27] Brent
[00:01:27] Crude and WTI um the 0.8 8%, maybe it's uh,
[00:01:31] maybe is it dead cat bounce they call this one at this
[00:01:35] point, but we're still watching
[00:01:36] out what's happening around the straight
[00:01:38] of hormores and when it comes to deescalation
[00:01:40] uh between
[00:01:40] uh US and Iran, but that's the picture um right there, but we see natural
[00:01:44] gas there on the flip side down 0.74 percent. Let's get a check on
[00:01:48] metals now, let's see what's happening um there now so we see uh for spot
[00:01:52] gold that's uh still hovering around the new highs there
[00:01:56] $4,328 um dollars per ounce so this
[00:02:00] um
[00:02:01] you know some the kind of rise you'd say you've not seen in a couple
[00:02:05] of weeks now spot silver 0.41% um lower
[00:02:08] though on the flip side going in the opposite direction with other metals that
[00:02:12] we track now we see
[00:02:13] of coper there 1.28% um higher
[00:02:17] $6.81 per pound palladium 1.31 higher
[00:02:20] of and uh platinum so it's starting off green uh for
[00:02:24] august here um that's for the mental markets
[00:02:27] of that we track at this point all right let's um discuss further
[00:02:30] now because these markets are sending mixed
[00:02:34] signals at this point, all prices, they they were under pressure at some point
[00:02:38] now, but we're still seeing, we're seeing some green optics
[00:02:41] there, uh, hopes around the reopening
[00:02:43] of the street
[00:02:44] of Ramus, that's easing, um, fears over global supply disruptions, at
[00:02:48] the same time, gold has rallied to seven week high supported
[00:02:51] by a weaker US dollar and lower treasury yields as investors,
[00:02:55] they're reassessing the outlook for interest rates and
[00:02:59] geopolitical... with central bank decisions, economic
[00:03:02] data and
[00:03:03] of geopolitical development, they're all in focus um right now, so the key
[00:03:07] question,
[00:03:08] of what's driving sentiment across energy and metals market and what should
[00:03:12] investors expect, um, are you supposed to go
[00:03:15] - long or short, that's talking about traders at this point, joining me
[00:03:19] now, daniela
[00:03:20] in corsini, senior economist, commodities market in Tessa San
[00:03:24] Paulo, great to have you in the
[00:03:26] show.
[00:03:32] Can you hear
[00:03:32] a
[00:03:33] of me? All right, Daniel, so you
[00:03:36] know, we see, we did see you, all prices, kicking
[00:03:40] off the week, um, lower, but you know, coming in from the Wednesday to
[00:03:44] Thursday trade, we're seeing some kind of rebound um, at this time, do
[00:03:48] you think the market is now pricing out geopolitical risk
[00:03:51] or is this simply a temporary um,
[00:03:55] correction that we see started
[00:03:56] off? Am I opinion
[00:04:00] is true, investors have significantly
[00:04:03] decreased their exposure to crude oil because
[00:04:06] of the drop in geopolitical risk, this is because
[00:04:10] flows are the most important point for markets,
[00:04:14] the most important point in my opinion is not whether
[00:04:18] peace agreement will be reached or if nuclear talks will
[00:04:21] restart, but simply flows though hormos will be
[00:04:25] enough to satisfy global market, global
[00:04:28] crudal market. so in my opinion it's likely that
[00:04:32] the announcement of Iran this morning will proceed,
[00:04:36] we know Iran and Oman are discussing to reach
[00:04:40] of deal, to manage the flows through the straight,
[00:04:44] and I
[00:04:45] of think probably
[00:04:46] in the US at the end will accept such solution, because on one
[00:04:50] hand, in my opinion, the US want to maintain
[00:04:53] low interest rates, they need to control
[00:04:56] inflation and oil price to avoid hiking. interest
[00:05:00] race ahead
[00:05:01] of the mid-term in November. On the other hand, we have
[00:05:05] Iran which needs to restore oil revenues and
[00:05:09] they also need to have
[00:05:11] in inbound flows of any kind of good to satisfy the
[00:05:14] population and then we have also the gulf states
[00:05:18] which have plated their anti missile
[00:05:21] defense system and now they they see as a welcome
[00:05:25] a
[00:05:27] truth in order to at least replenish their defense
[00:05:30] stocks so in my opinion it's likely that flow will
[00:05:34] increase and so in my opinion it's fully justified this
[00:05:38] correction in crude price
[00:05:40] so so where do you see? trading, say by the
[00:05:44] end
[00:05:45] of August and you know we still keeping our eyes on the state of
[00:05:48] Romase, US and Iran at this point, but it seems that what's
[00:05:51] still driving sentiment going on?
[00:05:55] yeah, you are completely right, I think given I
[00:05:59] expect the escalation of tension, I think Crude
[00:06:03] price will trade around the 70-75 per
[00:06:06] barrel by late august, and then it will stabilize near
[00:06:10] $70 by year and
[00:06:12] your in uh obviously depends from geopolitical tension, so
[00:06:16] if military escalation restart then we can see even higher prices
[00:06:20] around $85,90 per barrel.
[00:06:24] all right, we definitely keep our eyes on that, but let's flip over to the metals market
[00:06:27] now, we seeing gold climbing to seven week high you know
[00:06:31] despite you know easing geopolitical um
[00:06:34] tension at this point, you mind
[00:06:37] know did you see this coming for
[00:06:38] gold? think in my opinion. that
[00:06:42] good market is not really following now geopolitical risks, in my opinion
[00:06:46] it is more following the US dollar and in particular the US
[00:06:50] monetary policy, in particular there is a strong link in my
[00:06:54] opinion between high energy prices, the risk
[00:06:58] of higher interest rates in the US and and this is
[00:07:02] negative for the gold because the gold is suffering where interest rate
[00:07:05] increase we saw last week we had a 30-year treasury
[00:07:09] nose which reached the highest level in... years,
[00:07:13] so this is very negative for gold, and that's why every time we have
[00:07:17] deescalation in the middle east, we have lower geopolitical
[00:07:21] risk, we have a positive reaction of
[00:07:25] gold because of lower expected inflation and less
[00:07:28] concern about higher interest rates in US. i think this is a big
[00:07:32] change from the past, in the past, gold being a safe heaven
[00:07:36] was rising with geopolitical tension, and now i think it's no more the case
[00:07:40] because the us monetary policy... is the most important driver in my opinion
[00:07:44] for gold uh, should investors expect
[00:07:48] industrial metals like copper, and silver to follow gold
[00:07:52] higher, because
[00:07:52] you know looking at the prices today, we're seeing gold rising, but you know
[00:07:56] silver
[00:07:57] is is dropping, seems have different fundamentals
[00:07:59] here, yeah, you're right, silver
[00:08:03] is not benefiting from this uh upward drive
[00:08:07] in gold because of weaker fundamentals,
[00:08:11] first silver is... is not gaining from central bank demand,
[00:08:15] because central banks only buy gold, they are not buying silver, and on the
[00:08:19] second hand, we also had negative news from the industry, because
[00:08:22] because solar power producer, so
[00:08:26] producer solar panel are decreasing their weight of
[00:08:30] silver per each panel, and this is a very negative news,
[00:08:34] because obviously they will need a lower and lower silver going forward and this is
[00:08:38] negatively impacting its long-term fundamentals, that's why i see
[00:08:42] silver flat, while I think gold is more upsider if tension
[00:08:45] is in the middle east, so if you are positioning a portfolio
[00:08:49] today, would you favor energy, you precious
[00:08:53] metals or more of industrial metals at this
[00:08:56] point? well, at the moment my favorite one is
[00:09:00] copper, in the very near term up to the mid-term election in
[00:09:04] the US, i think copper has room to reach new old
[00:09:08] time high around 15, 15,5
[00:09:13] uh second position for gold, think in the shorter extension
[00:09:17] is gold could arise some more, but then i see it
[00:09:21] falling back near 4000 dollar per ounce by year
[00:09:25] end and then i'm negative on crude oil because of ising
[00:09:29] tension in the middle east. all right, thank you so
[00:09:32] much, definitely we'll keep tracking these metals and keep going up and down
[00:09:36] in at this point, thank you so much daniela corsini, senior
[00:09:39] economist, commodities market in tesla. and
[00:09:42] paolo, thank you, thank you very much, thank
[00:09:46] you. all right, let's get to check on other stories, now we see the
[00:09:49] democratic republic of Congo, they've taken a major step to boost value
[00:09:53] addition in its uh mining industry, banning exports of copper
[00:09:57] and coballed um concentrates with immediate effect, the move is aimed at
[00:10:01] encouraging domestic processing, um, increasing government revenue and
[00:10:04] capturing more value uh from the country's vast mineral wealth, as
[00:10:08] the world's largest producer of cobal, the and Africa's second um
[00:10:12] second largest supply of copper, the decision could have significant
[00:10:16] implications for global supply chains, mining companies
[00:10:19] and the electric vehicle market
[00:10:23] and we see South Africa's uh uh pick and pay the
[00:10:27] boosted by boxers, the group turnover rises about
[00:10:29] 2.7%. they're showing early signs that the turnaround
[00:10:33] strategy is getting traction, the group reported a 2.7% increase in
[00:10:37] turnover for the first 20 weeks of its financial year
[00:10:41] driving by continued strong growth in its discount
[00:10:45] chain uh boxer which helped offset ongoing weakness and its course
[00:10:49] supermarket business and the update highlights how you know value focus
[00:10:53] retail continues to resonate with consumers under economic pressure
[00:10:57] as a company works to restore profitability and strengthen its
[00:11:00] position in South Africa's um highly competitive
[00:11:04] market and we see
[00:11:08] Kenya's um East Africa breweries they've delivered a strong set of
[00:11:11] four-year results uh with pre-tax um profit uh we see
[00:11:15] that rose about 43% on the back of higher sales across its east
[00:11:19] um Africa markets there um the brewer you
[00:11:23] know best known um best know for
[00:11:26] you know brands like um including Tosca Guinness in the region also
[00:11:30] reported a 13% increase in revenue reflecting resilient
[00:11:33] consumer demand uh despite a challenging economic environment the
[00:11:37] results come as majority shareholder Diasio progresses with
[00:11:41] plans to sell its controlling stake in the company marking a significant
[00:11:45] moment uh
[00:11:45] for one of East Africa's largestuh consumer goods
[00:11:49] businesses all right let's check on other commodities
[00:11:53] now domestic commodities see tomato. prices in Nigeria, they've
[00:11:56] tripled this year with the cost of a large basket rising from
[00:12:00] 40,000 in January to 100k
[00:12:04] in July, the surge is raising concerns over food
[00:12:07] inflation and supply constraints, despite Nigeria remaining
[00:12:11] one of Africa's largest tomato producers. Uh let's talk to
[00:12:14] Olisa, um, Olisa SN1 now is an analyst with
[00:12:18] Financials company uh, great to have you the show, so what are the key
[00:12:22] factors
[00:12:23] uh behind the 200%? increase in tomato
[00:12:26] prices this year, are these pressures likely to persist
[00:12:30] uh through the rest of
[00:12:31] 2026? good
[00:12:34] afternoon, thank you for having me, as well, as yourly said,
[00:12:38] yes we have experienced a 200% search in the prices of basket of
[00:12:42] tomatoes from 40, in january to 120,000
[00:12:45] these, and this is due to numerous amount of factors, to start
[00:12:49] off with, the excess rainfall been experiencing this
[00:12:53] couple this couple of months has not only destroyed or
[00:12:57] damaged major roots leading to these farms and then
[00:13:01] the market, but has created has increased the
[00:13:04] humidity in the farmlands bring about more
[00:13:08] fungal and bacteria that has damaged those
[00:13:11] crops. At the same time, increased for
[00:13:14] prices has increased the transportation
[00:13:17] cost to deliver these goods to the markets
[00:13:21] and that to curve that loss we
[00:13:23] are seeing the increase. in brutal prices, these
[00:13:27] are just some the factors that have contributed to
[00:13:31] this surge in prices, which is why we're
[00:13:34] seeing um small for tomatos
[00:13:37] being about 500 near in the market. with
[00:13:41] that being said, tomatos being a seasonal commodity,
[00:13:45] do expect the prices ease up
[00:13:49] is as we are now in of course the main harvest
[00:13:52] season, so we are expecting an abundant. supply,
[00:13:56] however, looking further down the line, as we approach
[00:13:59] festive seasons, we expect the prices
[00:14:03] to increase, as demand for tomatoes will increase,
[00:14:07] which explains the outlook, all right, I do hope you know, if
[00:14:11] we check the households, I hope the stews are not getting smaller,
[00:14:14] because of this, but we know Nigeria produces nearly 3.9 million
[00:14:18] metric tons of tomatoes annually, yet we still import over
[00:14:22] 400 million dollars worth of process. the tomato
[00:14:25] products, what reforms are needed here to strengthen the
[00:14:29] country's you know tomato value chain and reduce the import
[00:14:33] dependence there?
[00:14:36] well, to start off with, although we produce
[00:14:40] 2.9 million metric tons, 40 to 50% of
[00:14:43] that doesn't make it
[00:14:45] to the market and is lost due to post service losses, and those are
[00:14:48] attributed to factors such as inadequate storage facilities
[00:14:52] as well as
[00:14:54] um coaching. facilities and it's important to know that we
[00:14:57] lack um a processing facilities
[00:15:01] that to convert this produce into
[00:15:04] um products such as
[00:15:08] ketchup and tomato paste so a scenario we have
[00:15:11] p carvs we don't have the facilities to convert that and tomatos
[00:15:15] being per nature they of course
[00:15:19] dimin they diminish fast so some policies to
[00:15:23] take place is increasing the amount of processing
[00:15:27] hobs in major tomato producing states such as
[00:15:30] can,
[00:15:31] cardina, cartina, i believe that if we increase that, increase the possessing
[00:15:35] her available, we be able to up absorb the the excess supply
[00:15:39] and reduce wastage and as stated in my earlier
[00:15:43] point, if we improve if invest in better roads
[00:15:47] of course the time taken to distribute these goods to
[00:15:50] the final consumers reduce so i think this are just a
[00:15:54] couple of factors that would you know
[00:15:57] would improve the the
[00:16:01] will improve um yeah it's because it's quite it's
[00:16:05] quite interesting these are the same problem since I was in secondary school, the
[00:16:09] same problems of acriculture, you don't till now, I hope we change that
[00:16:13] soon, thank you so much, I will analyt a financial
[00:16:17] derivatives company, thank you, thank you for having
[00:16:20] me, all right, now let's flip over to other
[00:16:23] parts now, the market, you see the ngx um lower and
[00:16:27] today, few banks were up today when I did i get peak, but for the
[00:16:31] ICT sector, this see legend internet there, um, that
[00:16:35] was up, then uh, coming to the JSC that's looking better there
[00:16:38] 0.24% um higher and definitely we're seeing um
[00:16:42] gold metal prices um rising and that's you know helping pop up this
[00:16:46] uh one there i flip over to other parts of uh the continent there we see the
[00:16:49] egx30 0.35% um higher but the nairobi
[00:16:53] stock exchange uh pulling back again uh for the trade yesterday
[00:16:57] 1.2 1.62% lower let's get a check now
[00:17:01] on golf on the golf region we see for the uae is a big drops we're
[00:17:05] seeing there the dubai index 1.3 2% um lower Abu
[00:17:09] Dhabi index seven basis point flip over to Saudi Arabia it's
[00:17:13] all red 0.11 0.64 we're still trying
[00:17:16] to invest is there trying to understand what's happening around um the
[00:17:20] war in Iran and the straight of Rmus at this point to sentiment is
[00:17:24] still um lower let's flip over to US futures now uh we see the
[00:17:28] futures tied to the Dow Jones Industrial average tech heavy Nasdaq
[00:17:32] looking good 29,481 points for the
[00:17:35] Nasdaq SNP 0. 15% better so
[00:17:39] corporate earnings i'm still rolling in at this point and that's driving sentiment
[00:17:43] right there for us markets let's flip over to asian markets
[00:17:47] now - much lower today uh technology
[00:17:50] stocks were um leading a broad regional sell off there with
[00:17:54] japan sneak um there it's down 0.9%
[00:17:57] cosp 4.58% um lower hangsing index so
[00:18:01] it's like you know today we're seeing um green on the screen next
[00:18:05] day it's uh red there um investors watching
[00:18:09] you know uh chipmakers samsung sk hynix right there let's
[00:18:12] flip over to other parts now - we see for the nifty 50 though it's about five
[00:18:16] basis points um higher
[00:18:18] 24,636 uh points and the shaga
[00:18:21] composite up 0.57% to close let's see if it's
[00:18:25] the same picture in Europe now we have las halter um there
[00:18:29] hello las how's it looking yeah ladi good to be with you
[00:18:33] it is looking pretty good same color here mostly green across the board actually
[00:18:37] the European market now
[00:18:39] how record breaking DAX here in Frankfurt is really up only
[00:18:43] slightly, it's not having too much strength top these recent
[00:18:46] record highs, but markets in London up half a percent, paris and
[00:18:50] Madrid look even stronger, each up a more than one%
[00:18:54] uh, but what's driving it is really just mostly the old price drop
[00:18:58] a bit again because that's obviously been the most dominant driver for markets
[00:19:02] over the past few months already. All right, so we see elections that coming up
[00:19:06] in Germany or... please the regional elections, that's coming
[00:19:10] up in one the former um East German states uh recent
[00:19:13] polls point to majority for a party that has so
[00:19:17] far never been in government, what can you tell us about
[00:19:20] this? yeah, indeed loud, the poles point to a plurality for
[00:19:24] the alternativa for Germany, an extreme right-wing party, better
[00:19:28] known by its acronym the AFD, the party is
[00:19:31] formally classified as a right-wing extremist organization by
[00:19:35] Germany's domestic intelligence. agency uh, but
[00:19:39] you know, we're living economically dire times, Germany is seeing
[00:19:42] influx of migrants and all that has always been an excellent context,
[00:19:46] populist parties could could abuse by uh promising
[00:19:50] quick solutions to people's problems, problems that more
[00:19:54] honest and traditional parties can often not really solve, as
[00:19:58] obviously there are really easy solutions to complex
[00:20:01] issues, but anyway the AFD has had growing success
[00:20:05] in the eastern German states over the... past years and even though
[00:20:09] they've gained seats in many state parliaments, they really never
[00:20:13] governed anywhere, not least because other parties have so far
[00:20:16] refused to work or enter a coalition with
[00:20:19] them, but but now that the party might win
[00:20:23] majority in this one particular state, what would it mean for the
[00:20:26] country and the economy? yeah, ladi, if the AFD
[00:20:30] would end up in government, it could be costly because apparently the
[00:20:34] numbers don't work out for the party's populist platform. form
[00:20:38] that's according to economists over the lighten institute in which is
[00:20:41] actually situated in that particular state, the economiss
[00:20:45] estimate annual funding gap a minimum of
[00:20:49] 2.2 b million euros and they say it's mostly due
[00:20:52] to some popular election giveaways, among the biggest items
[00:20:56] are state funded to child benefit payment, free child care for
[00:21:00] all, free school lunch programs and a higher allowance for
[00:21:04] home-based care. now that's all of course
[00:21:07] worthwhile goals, but they do come a cost of
[00:21:11] over one and a half billion euros and the AFD says they won't
[00:21:15] take on new debt and they also will lower taxes
[00:21:19] and all that. taken together of course doesn't work, buse
[00:21:22] the money has to come from somewhere before it can be
[00:21:26] spent, so taking this up to federal level, what would an
[00:21:30] AFD victory mean? well, it would
[00:21:34] come with tremendous uh problems for the economy for sure, not least, because
[00:21:38] one of our currently biggest economic issues is lack
[00:21:41] of skilled labor a time when demographic trends are
[00:21:45] setting Germany up to already lose people in the labor market. now
[00:21:49] economist. have long said that only skilled migration
[00:21:53] can really help alleviate the problem with skilled workers coming
[00:21:57] in from eastern European from Asian countries from India from
[00:22:00] Africa and elsewhere. However, the right-wing AFD
[00:22:04] is an anti-immigrant party. Many of its followers are
[00:22:08] actually known to have attacked immigrants, and the more power
[00:22:12] such a party has, the less attractive Germany becomes as a
[00:22:15] destination for a skilled workers. As matter of fact, many
[00:22:19] immigrants. that come to Germany already move to other European
[00:22:23] countries after year or two, and that's not good. We need to
[00:22:27] keep people here, integrate them into society and the labor
[00:22:31] market and actually make life attractive for them, and
[00:22:34] obviously a strong right-wing party is not helping. All right, thank you so
[00:22:38] much. Last, definitely a developing story, we keep tracking down,
[00:22:42] politics impacts everything, thank you. Absolutely, yeah, thank you,
[00:22:45] lady. All right, let's get a check on what's happening in the digital asset space
[00:22:49] now, definitely. see bitcoin there and the green just about eight business point
[00:22:52] higher um at this hour 64,540
[00:22:56] ethereum still trying to make that run up to $200,
[00:22:59] $1,904 up $1.31%, but
[00:23:03] majority the uh the the old coins there mostly in
[00:23:07] the red um right there uh at this hour
[00:23:10] but we see some stable coins um getting some attention so some you know
[00:23:14] investors there trying to get some clarity in the market - to some the headlines European
[00:23:18] regulators are warning uh crypto investment is to be on guard as
[00:23:21] scammers exploit the European Union's new micro rules,
[00:23:25] frosters opposing as licensed firms and regulators to trick
[00:23:29] users into transferring their digital assets. Authorities are
[00:23:32] urging investors to verify every request before
[00:23:36] making um any transactions. Yeah, we see the scammers there
[00:23:40] out in full force everywhere at this point. Uh, Wall Streets, there
[00:23:43] accelerating adoption of blockchain technology with major
[00:23:47] banks and asset managers expand. toconization
[00:23:51] projects are the firms are using blockchain to improve the trading and settlement
[00:23:55] of financial assets, signaling growing institutional confidence in
[00:23:59] digital um finance, then uh master card, they're expanding the
[00:24:03] digital payments business with the acquisition of crypto infrastructure
[00:24:06] firm uh BVNK, the move you strengthens its
[00:24:10] stable coin capabilities and supports faster cross border payments
[00:24:14] as global financial institutions uh continue to embrace blockchain
[00:24:18] empowered uh payment. uh solutions at this point, so those are the
[00:24:21] headlines right there and cryptomarket and that's how major markets are
[00:24:25] looking today, tgif trade tomorrow, we'll see what comes, i'm lady
[00:24:29] williams from
[00:24:30] the team right here at channel's hqs, bye for
[00:24:32] now,
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[00:25:25] Hello and a warm welcome to Art House, I'm Melinda Killami, coming
[00:25:29] up today's episode the program. It's time to
[00:25:32] discover, connect and be inspired on art
[00:25:35] house, where
[00:25:39] creativity knows no bounds,
[00:25:43] dive into the heart of Nigeria by exploring its rich
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[00:25:57] See these stories creative, colorful and
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[00:30:12] Hello again and thank you for staying with us here on Channels TV. This is
[00:30:16] news track. We are live from our studios here in Lagos. I am Kellya a
[00:30:20] Giga and
[00:30:23] from our studios here in Abuda the federal capital. I'm Gloria
[00:30:26] Um. Our president has directed the economic and
[00:30:30] financial crimes commission EFC. to immediately return to
[00:30:34] court and vecate the order freezing the oshin state government's
[00:30:37] account. the statement, president Bolatinov said he was not
[00:30:41] embarrassed by the EFCC's anti-corruption mandate or the
[00:30:45] court order itself, but by the timing the action coming
[00:30:49] just days before the Ashhum governorship election. President
[00:30:52] Tinubur reiterated his commitments to allowing anti-corruption agencies to
[00:30:56] operate independently without political interference.