Overnight headlines about the emergence of a new COVID-19 variant in South Africa seem to have spooked investors, with a risk-off pulse sending global shares and U.S. stock futures tumbling, and safe-havens like U.S. Treasurys and gold benefiting from the outflows. Asia stocks outside Japan slid over 2 percent, Europe and U.S. stock futures are…
Risk Assets Sink as New COVID-19 Variant Fears Spark Rush to Safe Havens
November 26, 2021
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New CCP Virus Variant Detected in South Africa Sparks Travel Bans by Israel, UK
A new variant of the CCP (Chinese Communist Party) virus has been detected in South Africa, its health minister, Joe Phaahla, announced Thursday. Scientists say the new variant is a concern because it has a high number of mutations and spreads rapidly among young people in Gauteng, the country’s most populous province, he said at…
South Africa Powerless as Energy Crisis Intensifies
JOHANNESBURG, South Africa—Energy analysts say South Africa’s entire electricity grid is in danger of collapsing, as an energy crisis that began in 2008 plunges the continent’s most technologically developed nation into economic stagnation that is exacerbated by the COVID-19 pandemic. For the past two weeks, the country’s national power company, Eskom, has battled to turn…
‘Tectonic Shift’ in S. African Politics Accompanies Move to ‘Green Energy’
JOHANNESBURG, South Africa—There it was on South African TV screens on the morning of Thursday Nov. 4, a day that could yet signify a pivot—for better or worse—on the tumultuous axis of one of the world’s youngest, but troubled, democracies. As results from local government elections held on Monday rolled in, the shock began sinking…
Language War Inflames South Africa Elections
JOHANNESBURG, South Africa—Nelson Mandela said he “loved” Afrikaans, even though it was the language of the people who imprisoned him for 27 years during apartheid. One of the closest friends he made in prison on Robben Island was a white Afrikaans warder, who Mandela credited with improving his Afrikaans immensely. But now, on the eve…
UN Climate Change Funding to Feed Corruption Gravy Train of Developing World
October 15, 2021
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Commentary The U.N. climate change conference in Glasgow (COP26) is great news for corrupt governments in the developing world because it looks set to transfer huge sums of money into their hands. Dambisa Moyo, a Zambian-born economist, has long warned the West against sending aid to Africa because of the corruption it creates. Moyo’s book…
Nelson Mandela’s Famous Shirts, Belongings up for Auction
NEW YORK—The family of late South African President Nelson Mandela is selling the anti-apartheid leader’s personal belongings to help pay for a memorial garden being built in his honor. Among the roughly 100 items are the colorful patterned Madiba shirts he wore on formal occasions, including to meet Britain’s Queen Elizabeth in 1998 and 2003….
South Africa Should Not Rush Move Away From Coal, Minister Says
JOHANNESBURG—South Africa must manage its transition away from coal-fired power generation systematically and not rush a switch to renewable energy sources, Mining and Energy Minister Gwede Mantashe said on Thursday. “I am not saying coal for ever, … I am saying let’s manage our transition step by step rather than being emotional,” Mantashe told a…
South African Scientists Flag Concerning New COVID-19 Strain
South African scientists have been keeping a close eye on a new COVID-19 variant because of “its concerning constellations of mutations.” The variant, called C.1.2, was first identified in May in South Africa. The scientists have posted a preprint study, saying the new CCP (Chinese Communist Party) Virus variant shares mutations with other more transmissible…
South Africa’s Jailed Ex-President Zuma in Hospital
South Africa’s imprisoned former President Jacob Zuma has been admitted to hospital for observation near the Estcourt Correctional Center where he is currently serving a 15-month sentence, the government announced on Friday. Zuma is in prison for defying a Constitutional Court order to testify at a state-backed inquiry probing allegations of corruption during his presidential…
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