Google Speech-to-Text API Automatic Transcription (Chirp). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:33of
00:00:37of
00:01:10sets to surge, of
00:01:12of course following what's happening at the straight
00:01:14of homos and then it's not good news in Egypt, currency
00:01:17slums to a 10-year
00:01:19low
00:01:22and in Ghana, it's good news right there, inflation eases a
00:01:26bit.
00:01:37we start from the global oil space, prices high on Friday,
00:01:41of further concerns surrounding the reopening
00:01:43of the straight of homos and potential Iranian bans and
00:01:47finds and vessels and it seems hostile for
00:01:51and also in violation of proposed rules, so we
00:01:54see um oil features settled more than
00:01:57of $3 barrel higher at the... close off trade yesterday
00:02:01so for now we see a 0.28%
00:02:04of increase on
00:02:06in um that's for WTI 77.51 cents a
00:02:10barrel brend has also gained 0.32% and it's gone up from
00:02:13$79 that we had yesterday to
00:02:16$82.77 natural gas follows to
00:02:200.30% up uh
00:02:22$2.64 a barrel Iran is
00:02:26seeking fees of between 5% and 7%
00:02:29of the price of cargos from ships using the street and this is
00:02:33according to a
00:02:34of senior Iranian official oman meanwhile is discussing
00:02:37fees
00:02:38of of about 3% while Washington wants no fees at
00:02:42all, while this week's
00:02:44of signals a potential deal have driven roller coaster
00:02:47ride in market sentiment, the market remains in the
00:02:51dark as to what needs to happen for the
00:02:54agreement to be cleanged and this of course leaves lot of
00:02:58uncertainty. in the air closely related to that to see
00:03:02of what's happening with metals prizes that's for gold firm
00:03:05today and one root to their biggest weekly gain since january helped
00:03:09by weaker oil prizes investors are waiting
00:03:13that are non-farm payrolls from the united stat that
00:03:17should give
00:03:18a clue to
00:03:19of interest rate outlook so we see right there for spot
00:03:23gold spot gold is about 1.5%
00:03:25up um at this time while we see huge
00:03:304.84% up uh for spot
00:03:33silver and then platinum is also up 2.65%,
00:03:37palladium also up, just copper, copper uh is the only
00:03:40metal for now that has not gained. the US president
00:03:44told reporters that he believed that the war with Iran would be over
00:03:48soon and said that the armed forces were experiencing issues with supplies
00:03:53of of weapons, screwed oil
00:03:54of prizes of
00:03:55a course uh we have already told you about that and all
00:03:59of this is fa global food prices we see that has
00:04:03climbed to the highest level in three years on
00:04:07supply concerns push up the cost of key
00:04:11a commodities. the
00:04:11of latest food and agriculture organization food price index
00:04:15shows higher prices for cereals, vegetable
00:04:18oils, dairy products and sugar driven
00:04:22by weather related disruptions and of course the tightening
00:04:25global oil supply and global supply is annally
00:04:29analysts. say that adverse weather in major producing
00:04:32regions, export uncertainties and stronger import
00:04:36demand are adding pressure to global food
00:04:39in markets. the rising costs are raising concerns
00:04:43of about food inflation, particularly in developing economies that rely
00:04:47heavily on imports and economist are
00:04:50of warning that sustained increases in food prices could
00:04:53complicate efforts by central banks to contain
00:04:56a inflation while placing additional pressure. and
00:05:00household budgets, markets are now watching for global harvests and
00:05:04trade flows for signs of easing supply
00:05:07constraints
00:05:11and um south. Africa has signed a $500 million
00:05:15dollar loan agreement with the Asian infrastructure
00:05:18investment, marking another step in its drive
00:05:22to finance critical infrastructure and support economic
00:05:26reforms. The agreement threatens the country's partnership with the Beijing
00:05:29based multilateral lender and is expected
00:05:33to help on priority development projects. The financing comes
00:05:37as Pretoriaa sex to boost investments in infrastructure, improve
00:05:41public services. and stimulate economic growth at mid fiscal
00:05:45pressures. The loan is expected to complement the government's broader
00:05:49strategy of attracting development finance while
00:05:52maintaining macroeconomic
00:05:54stability.
00:05:58Malawi central bank left its policy rate unchanged at
00:06:0124%. saying the current level is appropriate to
00:06:05keep inflation a downward trajectory, though it is still
00:06:09well above the target. policy makers saying inflation is
00:06:13easing but remains above target, prompting cautious
00:06:16approach to any policy changes. the decision aims to
00:06:20maintain price stability while supporting the country's economic
00:06:24recovery, the central bank says it will continue to closely
00:06:28monitor inflation trends, exchange rates, development
00:06:32and global economic conditions before considering any
00:06:35adjustment to borrowing
00:06:37costts. in West Africa, Ghana's annual
00:06:41inflation rate. that as eased to 4.6% in July
00:06:45from 5.3%. That's what it was in June, and this
00:06:49marks the first decline since March. The latest figures from the
00:06:53Ghana Statistical service suggest that price pressures
00:06:57are beginning to moderate after three consecutive monthly
00:07:01increases. The slow down is driven by softer increases
00:07:05in the prices of both food and non-food items,
00:07:08reinforcing expectations that inflation remains under control.
00:07:12despite recent global economic
00:07:15uncertainties, and in Egypt,
00:07:19not good news coming from there, the pound there has recorded the
00:07:22steepest currency decline among Africa's largest
00:07:26economies over the past decade and highlighting the
00:07:29country's prolonged struggle with foreign exchange,
00:07:32shortages, inflation and repeated currency
00:07:35devaluations. analys say depreciation reflects years
00:07:39of economic reforms and external financing
00:07:43pressures, the currency has weakened significantly against the US
00:07:47dollar since 2016, following multiple rounds of
00:07:50devaluation, linked to international monetary fund back reforms
00:07:54aimed at restoring macroeconomic stability, while the moves
00:07:58have helped to attract foreign financing, they've also increased import costs
00:08:02and field inflation. economy say recent improvement in
00:08:06foreign investment and foreign exchange availability are
00:08:10helping to stabilize the market, but maintaining investor confidence
00:08:14and sustaining economic reforms remain critical to strengthening the
00:08:18Egyptian pound over the long
00:08:20term. Africa's
00:08:24leading infrastructure guarantees platform plans to double its
00:08:27capital base as it steps up efforts to attract more
00:08:31private investment into infrastructure projects
00:08:35across the continent. The expansion is aimed at strengthening
00:08:39its capacity to provide risk guarantees that make large... scale
00:08:43project more attractive to investors. The platform says
00:08:46increasing its capital will allow it to support more
00:08:50projects in sectors including energy, transport,
00:08:54digital infrastructure and trade. By reducing investment
00:08:57risks, the guarantees are expected to unlock billions
00:09:01of dollars in private financing and help bridge Africa's
00:09:05infrastructure funding gap. Development finance
00:09:08institutions say guarantees are becoming increasingly.
00:09:12tool is governments face tighter budgets and
00:09:16declining development aid and so the move is expected to
00:09:20improve access to long-term financing and accelerate
00:09:23infrastructure development across the
00:09:25continent and
00:09:29looking at the market at intraday we see for Africa stocks
00:09:33are mostly positive at intraday including of
00:09:37course what's going on in Nigeria and um
00:09:41still talking about the let's go to the fixed income markets -
00:09:45we spoke about an interesting story earlier today during
00:09:48business morning, there you have it, the NGX is positive, but let's go to the fixed
00:09:52income market where the CBN and the DMO are suspended
00:09:56t bills auction and made 4.69 trillion
00:10:00nara homo sale auction and
00:10:04um what does that mean would can uh is it that
00:10:08demand has become really high because last week we did hear
00:10:12um from the DMO uh that they
00:10:15reduced the reduced rates because of
00:10:19increase in demand, so is this another strategy
00:10:23by the government to drive? um uh demand
00:10:26higher because of course when the seems to be scarcity
00:10:30then most likely um there'll be higher demand uh but I
00:10:34wonder if that's what the DMO is working
00:10:38on so we hear that they have suspended the sale of t
00:10:42bills for this week um but I've been told by some analysts
00:10:46that this is exactly is not exactly new thing or a big
00:10:50deal uh because yes they do have two auctions in
00:10:54a month so even this is suspended then we might have another
00:10:57one next week, but we know that the demand has been increasing
00:11:01for government securities um over time the last
00:11:04a couple of time and so mean this
00:11:084.69 trillion almost sale which
00:11:12they have done um they have suspended further sale
00:11:16of uh t bills is this a way to also
00:11:19manage um government debt
00:11:23perhaps that's will be some thing else now let's go to the middle
00:11:26east and um uh see what the market looks
00:11:30like, well stocks are traded mostly negative
00:11:34at intraday talking about the middle east and then in the
00:11:38United States we saw stock features mixed in early trade
00:11:41traders are waiting the release of that jobs
00:11:45reports uh which I mentioned earlier and that's what investors are looking
00:11:49at Airbnb shares for um the United
00:11:52States that's rallyed over 8% in free market trading
00:11:56and then also after the vacation rental company posted a bit on the
00:12:00top and bottom lines cloud flare also surged
00:12:0416% in pre-market after the cloud cyber
00:12:07security company issued the solid full year and current
00:12:11quarter outlook and going to Asia now
00:12:15market closed there obviously time difference uh we saw Japan
00:12:19sneak25 closed 0.1% 12%
00:12:23lower 65,600 and 6.71 South Korea's
00:12:27cost few
00:12:27was also down 0.6% at
00:12:306,258.77 uh it's that was
00:12:34described as a choppy trade in Hong Kong uh that was
00:12:37up 0.44% in the last hour of trade while mainland China
00:12:41CSI uh that closed 0.93% higher at
00:12:454,694. market sentiment was
00:12:49supported by China's export growth in July and that
00:12:53beats analyst estimate and of course
00:12:55excited um the uh
00:13:27the T-Bills auction should, what does it mean, what does it
00:13:31signal, what are the regulators trying
00:13:34to achieve with this? Okay,
00:13:38first of all, let's look at the communicat always comes out
00:13:42from the debt management office the central bank, they often
00:13:46say that the circulars or their calendars are subject to change,
00:13:49and formal practice has always been that for
00:13:53Nigerian treasury bills you. standard two auctions in a month,
00:13:57so even on the calendar issuing and letting us know that for the for
00:14:01this quarter that there would have been three auctions per month or sort of like an
00:14:04anomaly, that signal to the market increased supply, so for
00:14:08them to have then suspended the auction that should have happened this week and then
00:14:12it just follows into so it just looks like they're going back to status
00:14:16quo uh indeed the market is interpreted as sort of
00:14:20like reduced supply, but we believe that the next auction demand is also still going
00:14:24to be sustained. and it still affords the dm the opportunity to
00:14:28as much as they can uh or raise as much money as they want to, we may also
00:14:32want to look at what has happened over the last three auctions uh in the
00:14:35month of in the month of July where demand consistently
00:14:39grew you know uh in the first auction and the 8th of July
00:14:43there was about subscription for the one year paper of around 1.8 trillion but
00:14:47the DMO sold in 935 billion and then by the next auction on the
00:14:5015th of July demand was about 2.8 trillion and they sold just
00:14:54over trillion you and then the last one on the 29th of July demand was over 3
00:14:58trillion so there's appetite for government securities especially on
00:15:02the one year paper and so it could also be that so we could look at it from two ways
00:15:06number one is the fact that the suspension the auction that should have happened this
00:15:10week you could be a reset from the regulator or from the issue
00:15:14however i think more the fact that
00:15:16it is just status quo just returning to the
00:15:18two octions two standard auctions every month they are still able to
00:15:21you know raise the amount of money they desire at those auctions. so
00:15:25I mean buse there's also the conversation that is this creating
00:15:29an artificial scarcity you know to kind of uh
00:15:33give the uh regulators or the issue an opportunity more
00:15:36opportunities. to reduce rates because we did hear that they had plans to
00:15:40reduce rates and missed the heightened or
00:15:43increased demand. that could
00:15:47be, but the demand already tells a story for itself. uh,
00:15:51from the data that I just gave from the 8th of July to 15th of July to 29th
00:15:55of July, you find that you know the stop rate have been dropping
00:15:58consistently from the first 28th of July, 17.7%
00:16:02was where the one year one year stop closed. on 15th of July closed at
00:16:0617.66. and on the 29 of July closed at 17.35
00:16:10on the back the fact that demand increased at every point in time
00:16:13so it could be it could serve them that you know if they pull back a bit rates
00:16:17to drop you know further down in the secondary market those bonds or those bills are
00:16:21already trading around 17.10.10% so yes there
00:16:25is sustained demand for these securities and uh if they shift the auction to
00:16:29next to next week i still think they would raise whatever they want to raise and
00:16:32rate to continue to drop so rate to continue to drop does it
00:16:36drive match? to the
00:16:38equities,
00:16:41you could, but
00:16:42you know again uh, it's capital allocation, some capital must come to the fixed income
00:16:46market, and given how the equities market has done already in the course
00:16:49the year, what are the chances that it's going even do much better? i think is about
00:16:5360% here to date, do you expect
00:16:56it to reach 100%? maybe not quite, some people will
00:16:58be taking profit around this time, you especially given that
00:17:00is this is dividend season, so we could see lot more capital still flow into the fixed
00:17:04income market, think that even the... ipo can attract
00:17:08investors from the fixed income to the
00:17:11equities? oh, i think that's the bride the year, that's what
00:17:15everybody's waiting for, we'll see lot of interest in that
00:17:18space, and the year will probably quote and unquote close from
00:17:21there, so there there will be cup to waiting, lot of people are, okay, that's another reason why people
00:17:25could even put money in fixed income or in in short term money market instruments, just
00:17:29keeping their you know gun powder dry for the dangy offer, well
00:17:33m, do you see any disruptions from um political
00:17:36spending? political activities, do
00:17:39you see any disruption to the markets?
00:17:43so typically a pre-election year what we've always found or what we know is
00:17:46we the trend that we've seen isuh rates are elevated in pre-election
00:17:50years, that's because uh government borrowing and spending is always
00:17:54elevated
00:17:55you know and if we look at the trend this year
00:17:57it hasn't b to
00:17:58that trend uh the fact that we are still trading at 17 levels or boring or the
00:18:02government is borrowing money at 17 levels for the one year paper you tells that story
00:18:05that the debt is you continue to borrow so we think
00:18:09you know we don't see a significant drop in those interests, we are not going to drop to a 15 level
00:18:1215% you know handle between now and
00:18:15the end the year because the government still has to borrow and they have to you know fund the election,
00:18:19that's just the trend we've seen, so we don't expect any drastic drop
00:18:23you all this one are just what we call moderations, the market just moderating
00:18:27and - you i missed um excess liquidity in the
00:18:50and I can tell you I got some good news here when it comes to markets
00:18:54because we're really green across the board, the Dax in
00:18:57Frankfurt remains in record territory and is the strongest
00:19:01performer here on the continent up almost a percent by now and the
00:19:05other main markets here, London, Paris, Madrid. all up only fractions,
00:19:09but they are in the green, that's what matters, especially today since the oil
00:19:13price is up a bit on latest developments and for markets, it's
00:19:16definitely a good sign if they can withstand that,
00:19:20and the dax by the way has few good corporate numbers to feed
00:19:24today and that's why it's doing pretty good, so AI has been
00:19:28a major driver of both the markets and other parts the economy
00:19:31and uh the current situation now we've seen AI crash the market
00:19:35also uh lot of profit taking. at some point, what's the situation
00:19:39now when we look through the lens of artificial
00:19:42intelligence? well, yeah, it's certainly been everywhere
00:19:46recently, AI has greatly influenced most parts the industry, in
00:19:50of course, certainly media too, and even people's own personal transactions
00:19:53online, and not everyone is comfortable with these developments, and I
00:19:57would say that in Europe here and most certainly in Germany, many people
00:20:01are cautious regarding this latest technology, and for several
00:20:05reasons, actually, on the one hand, of... It's hard to know how
00:20:09exactly AI will change our lives, how it's going to impact
00:20:13politics, economy, society, in general, but on the other
00:20:17hand, it's also seen as a problem here that AI just
00:20:20needs huge amounts of data, that data centers are planned
00:20:24everywhere, that the demand for electricity is extremely
00:20:28high for water, for cooling as well, and that's what a lot of people here are
00:20:32worried about, and that is certainly reason why the biggest firms
00:20:35in the sector are... actually mostly investing elsewhere if we're
00:20:39looking at the big ones here, alphabet, amazon, meta,
00:20:43microsoft, they're investing 750 billion dollars
00:20:46in AI infrastructure this year alone, but almost all
00:20:50of it outside the EU with uh Europe's share of
00:20:54global data center capacity likely shrinking from
00:20:5813% now to about 10% by
00:21:012030. yeah and unfortunately I mean the story is already
00:21:05that uh the economy is weaken so what are more
00:21:09implication what more implication can this bring to to Europe
00:21:13and you know Germany and and and all of you guys
00:21:16there? yeah that's a question right on the surface it -
00:21:20certainly looks like we're missing out on something huge, but it turns out that's
00:21:24not entirely the case. as matter of fact, parts the
00:21:27lucutive business is generated by this AI boom does
00:21:31actually benefit companies here in Europe, because has this immense
00:21:35demand for components or cooling systems, for energy
00:21:38supplies and much of this comes actually from European
00:21:42manufacturers, cements, for example, they're offering energy
00:21:46management for data centers, the companies spinof Siemens energy.
00:21:50gas turbines and transmission technology and we have energy
00:21:54provider every, they're building entire gas power plants
00:21:58for some these US-based data centers, they also
00:22:01experts in battery storage, renewables or so, and then we have a
00:22:05company like construction giant hog thief that is actually putting up
00:22:09the very buildings that house data centers in the US,
00:22:12there a lot of smaller companies as well that are currently
00:22:16selling billions worth of goods and services to you
00:22:20as companies to equip these data centers, so could
00:22:23Germany be a long-term winner of this AI boom? does it look like
00:22:27it? yeah, in it definitely looks like large
00:22:31parts the German economy can actually benefit, but with any
00:22:34boom of course is also the risk of bust, and so
00:22:38it is with artificial intelligence and the data sector as well.
00:22:42we've already seen shares of some AI chipmakers drop recently,
00:22:45mostly out of fear that some the tech companies may have
00:22:49overextended. themselves with their investments, however, for
00:22:53now, none the German companies fear that the
00:22:56rapid business growth here that we're seeing in that sector
00:23:00might come to an end anytime soon. the CEO of energy provider
00:23:04Rve for example, he just said that he believes that the US is
00:23:08actually just bell weather here for the industry and that electricity
00:23:12demand will accelerate in other markets as well,
00:23:16so for now we're seeing lot of optimism and some comp
00:23:20like i said, they're making good money on AI here, even if most the
00:23:24data centers are not actually being built
00:23:46just have the payroll, the jobs payroll, farm payroll.
00:23:50from the United States that's out and uh well
00:23:53unfortunately this show shows that um the US
00:23:57economy unexpected unexpectedly shared
00:24:0123,000 jobs in July and
00:24:04unemployment rate call slightly to 4.1% from
00:24:084.2%. um economists that anticipated a growth
00:24:12of 8500 jobs but of course we now see that they lost
00:24:16more jobs uh 23,000 so that's
00:24:20just out now, we know that market have been waiting for
00:24:24it, so the US market will most probably react to that saying that
00:24:28is early hours of trading for the United States and
00:24:31then on on Monday of course we will get uh more
00:24:35reactions to this uh job shared in
00:24:39the United States and
00:24:49to see that President Donald Trump's cryptocurrency holdings, they are coming
00:24:53under renewed ethical scrutiny and lawmakers are debating
00:24:57the clarity act, bill designed to establish
00:25:01regulatory framework for digital assets in the United States. The
00:25:05legislation has become entangled in concerns of a
00:25:08potential conflict of interest because of Trump's
00:25:12significant financial stick in
00:25:15cryptoventures. That's a one story negotiators
00:25:19are considering six provision that could require senior public
00:25:22officials, including the president, to divest certain
00:25:26crypto-related interest or place them a
00:25:30blind trust, and we know that President Trump and his family
00:25:33members are very well uh in the crypto space,
00:25:37so we'll see what comes out of that. also, July has become the second worst
00:25:41month of 2026 for cryptocurrency theft
00:25:45after Harker stole an estimated
00:25:47247.4 million dollars
00:25:51and the attacks spand, everything from hardware wallets to bridges to
00:25:55lending protocols and trading platforms, they were all
00:25:59affected in this,
00:26:00and then we moved to Russia where... Russia's federal
00:26:03security service has rated several a cryptocurrency exchange
00:26:07offices in Moscow as part of investigation into alleged
00:26:11money lending laundering involving
00:26:14stolen funds so those are the stories making the headlines
00:26:18from the crypto space