The Central Bank of Seychelles (CBS) has announced that it is maintaining an accommodative monetary policy for the final quarter of 2024, although it remains vigilant about various factors that could affect the island nation's economy. The governor of the CBS, Caroline Abel, made the announcement on Tuesday in a press conference in which she shared that the monetary policy rate will remain at 1.75 percent. «We have taken this decision based on the evaluation of information on international developments that can affect Seychelles, and also developments in the financial systems and the domestic economy,» said Abel. She explained that CBS has seen an improvement in developments in the major economies of the world. Falling inflation has seen several central banks cut their policy rates in recent months, such as the Bank of England, which reduced their key interest rate by 25 basis points, the first cut since March 2020. The U.S. Federal Reserve Bank announced its long-awaited rate cut of 50 basis points in September 2024, which marked its first reduction in four years. In the same month, the European Central Bank reduced its key policy rates by 25 basis points, its second successive rate cut since June 2024. Since the start of the year, the price of food and oil has typically climbed internationally and in July, oil prices hit $85 per barrel, up from $80 per barrel in January 2024. This was a result of ongoing oil production cuts by the Organisation of Petroleum Exporting Countries and other partner nations (OPEC+), as well as price pressures brought on by Middle East geopolitical unrest. However, oil prices hovered around $70 per barrel in September 2024 on account of sluggish global demand for oil. Abel said, «We have to take into account that the countries that produce oil, have extended the length of time that they will increase production, which means that with that, there could be some pressures, but in general the price has gone down.»   The rising demand for different commodities and the possibility of unfavourable weather events are expected to drive up food costs internationally in the coming months. The geopolitical disputes in the Middle East and the Black Sea region may result in longer shipping routes and greater freight costs, which could worsen the previously outlined outlook for global food and oil prices, according to CBS. Locally, tourism continues to drive the Seychelles' economy, although as at September 15, a total of 241,344 visitors arrived in the country, 0.08 percent less than it was in 2023 over the same time frame. The number of tourists has grown at a slower rate than it did at the beginning of the year, mainly due to a decline in arrivals from important source markets including France, the UK, Italy, and Russia. Traveller arrivals are anticipated to rise in the fourth quarter due to enhanced air connectivity brought about by multiple carriers starting flights again. The yield per tourist is anticipated to stay low, nevertheless, due to increased competition in other locations. On the foreign exchange market's developments, as of September 20, 2024, both supply and demand had increased overall compared to the same period in 2023. During the same period, there was a decline in the value of the domestic currency relative to the major currencies that were exchanged. Future foreign exchange inflows will primarily depend on how well the tourism industry performs, while demand for foreign exchange is anticipated to rise in tandem with the fourth quarter's economic uptick. From May 2024, there has been an increase in the annual inflation rate and as a result, August 2024 saw an increase in average prices for goods and services of 0.5 percent over August 2023. However, the 12-month average inflation rate in August 2024 was negative 0.9 percent and for the domestic pricing outlook, a gradual rise in inflation is projected over the medium term. «We have to remain vigilant and continue to follow what is happening in the world, as there are things that can happen so fast and affect Seychelles, and so we must all prepare ourselves so that any of these issues will not affect us too much,» concluded Abel.

SINGAPORE — An elderly woman died in a fire that broke out in a Choa Chu Kang Housing Board flat in the wee hours of Sept 24. In a Facebook post, the Singapore Civil Defence Force (SCDF) said firefighters from Bukit Batok Fire Station and Woodlands Fire Station were alerted to a fire at Block 692A Choa Chu Kang Crescent at about 5.30am. «The fire involved the living room and a bedroom of a unit on the ninth floor. Firefighters had to conduct forcible entry to gain access into the unit,» said SCDF. «The fire was extinguished with a water jet and two compressed air foam backpacks. As a result of the fire, the rest of the unit also sustained heat and smoke damage.» North West District Mayor Alex Yam confirmed in a Facebook post that the victim was an elderly woman. According to SCDF, she was found inside one of the bedroom and was carried out of the flat by firefighters. The victim was pronounced dead at the scene by a paramedic, said SCDF, adding that there was no one else inside the affected unit. About 150 residents were evacuated from the block by police and SCDF as a precautionary measure.

After undergoing a series of sea trials, the first two of Singapore's four Invincible-class (Type 218SG) submarines are ready to join the Republic of Singapore Navy (RSN)'s fleet.  The two vessels, RSS Invincible and RSS Impeccable, were officially commissioned by Prime Minister Lawrence Wong on Tuesday (Sept 24) afternoon at Changi Naval Base.  During the ceremony, PM Wong inspected the Guard of Honour and presented the Commissioning Warrant to the Commanding Officers of the two submarines, Lieutenant colonel (LTC) Phang Chun Chieh and LTC Chan Wei Sheng Daniel.  The Invincible-class submarines were built by the Navy, Defence Science and Technology Agency and German shipbuilder thyssenkrupp Marine Systems (tKMS).  They were designed to operate in Singapore's shallow and busy tropical waters, and possess state-of-the-art capabilities, including high levels of automation, significant payload capacity, enhanced underwater endurance, and optimised ergonomics for the Asian physique.  Each submarine is 70m long, weighs 2,000 tonnes, and requires a 28-member crew to operate. 

Giant alcoholic beverages producer, Castel Malawi Limited, has committed K20 million to an Employee Volunteering charity initiative which aims at contributing to community support and strengthening the relationship between Castel Malawi and the local communities.   Castel Malawi’s Corporate Social Responsibility (CSR) Manager, Linda Kolomba said under this initiative, Castel Malawi employees are making enormous […] The post Castel Malawi commits K20 million to employee volunteering program appeared first on Malawi Nyasa Times - News from Malawi about Malawi.

A British businessman, who was a former contractor for South Africa’s ailing power utility Eskom, has been extradited from the UK to face 65 counts of corruption. Michael Lomas is accused of taking kickbacks on contracts between his firm, Tubular Construction, and Eskom for work at the Kusile power station, which were worth in excess […] The post UK extradites its citizen to go and answer 65 corruption crimes committed in South Africa appeared first on Malawi Nyasa Times - News from Malawi about Malawi.

[RFI] Nearly 30,000 suspected mpox cases have been reported in Africa so far this year, most of them in Democratic Republic of Congo where tests have run out, the World Health Organization said on Monday.

«Our cooperation [with Iran] is developing quite positively in various areas,» Dmitry Peskov added

According to the report, the MPs considered that these dual-purpose goods may be used for military purposes rather than for civilian ones

«I would like to refrain from any comments. Our position on the entire Russian infrastructure is crystal clear, and we stand by this position,» Dmitry Peskov said

Earlier, the Russian company managed to recover a total of over 1.1 bln euros from Unicredit Bank GmbH, Deutsche Bank, Commerzbank, Bayerische Landesbank and Landesbank Baden-Wurttemberg

«For us there is absolutely no alternative to achieving our set goals,» Dmitry Peskov emphasized

Low-wage workers in India’s billion-dollar diamond hub are being driven to the brink due to Western export controls against Russian ‘roughs’ Read Full Article at RT.com

A Finnish zoo is set to return pandas to China ahead of schedule due to financial struggles linked to the pandemic and the Ukraine conflict  Read Full Article at RT.com

Egypt has reportedly delivered a second shipment of weapons to Somalia, which is at odds with Ethiopia over a maritime deal Read Full Article at RT.com

Donald Trump Jr. has blasted Ukrainian leader Vladimir Zelensky for disparaging the GOP presidential ticket Read Full Article at RT.com

The prime minister of Burkina Faso has discussed the economic opportunities of joining BRICS with the Russian ambassador Read Full Article at RT.com

[Capital FM] Nairobi -- Detectives in Mombasa have summoned senior officials from Mombasa County in connection with the recent abduction and sexual assault of a blogger critical of the county governor.

[allAfrica] Dakar -- On September 22, 2024, the discovery of a dug-out canoe with at least 30 bodies was made off the coast about 70km from Dakar. The national navy was informed and Immediately deployed to the area, where the patrol boat towed the vessel to port, according to the Ministry of the Armed Forces statement.

The federal government is working on addressing the high number of migrants coming to Canada in order to cross illegally into the United States, Immigration Minister Marc Miller said.

A new study about children trying valiantly to survive on crackers, air and your last wisp of gentle parenting suggests picky eating is largely explained by genetics — and the researchers say they hope the findings will help alleviate parental blame.

Neighbours of a London, Ont., home often rented on Airbnb for weekend parties say it's a stark example of how short-term rentals don't work in residential neighbourhoods and create havoc for those living around them. 

Around two hours into the flight from Burgas, Bulgaria, to Liverpool, the crew declared an emergency due to a medical situation involving a man on board.

Chancellor Rachel Reeves gave a broad hint at her intentions in her speech to Labour conference yesterday, saying she wanted 'an end to the low investment that feeds decline'.

There is an interview from 1999 that has come back to haunt Combs. They're gonna probably be arresting me, doing all types of crazy things just 'cause we wanna have a good time,' Combs said.

Keir Starmer is set to strike a more positive tone in his address to activists in Liverpool, after his first months in power were blighted by rows over winter fuel allowance, tax hikes and freebies.

The stunning ship caters for 4,300 guests with a crew of 1,600 and will next set sail to Fort Lauderdale, Florida.

The Government of Malawi on Thursday launched the second National Rice Development Strategy (NRDS 2) with the Japanese International Cooperation Agency (JICA) committing to support efforts to increase and diversify rice production in Malawi. JICA Chief Representative, Kazuhiro Tambara said his agency recognizes the role rice crop plays in the social and economic development of […] The post Malawi launches 2nd rice development strategy, JICA to support efforts to increase production appeared first on Malawi Nyasa Times - News from Malawi about Malawi.

Many jurisdictions now monitor election equipment with GPS trackers, video-record ballot counting and open their headquarters for tours.

Garowe (HOL) – Puntland state leader Said Abdullahi Deni announced on Monday that Puntland leaders are ready to resolve the ongoing political discord with the Federal Government of Somalia, which has persisted for several months.

[ISS] Many of South Africa's community police forums need strengthening, but police can also use other means to build local relationships.

[IPS] United Nations -- Somalia is currently in the midst of a dire humanitarian crisis that threatens to destabilize the nation's security. This crisis is a result of the Somali Civil War, which began in 1991. Altercations between clan-based operations have caused a host of issues over the years, including over 596 civilian casualties, according to the United Nations Assistance Mission in Somalia (UNSOM). Tensions have greatly intensified in 2024, with levels of internal displacement and food insecurity increasing rapidly.

Escalating clashes between Israel and Hezbollah threatened to overshadow US President Joe Biden's final appearance at the UN's signature annual event on Tuesday as diplomats scrambled to avert an all-out regional war. The gathering of dozens of world leaders, the high point of the diplomatic calendar, comes a day after Israeli air strikes on Lebanon killed more than 490 people, according to local authorities. As world leaders gathered in Manhattan Monday for the annual flurry of speeches and face-to-face diplomacy, UN Security Council member France called for an emergency meeting on the crisis engulfing the Middle East. UN Secretary-General Antonio Guterres's spokesman said he was «gravely alarmed» as focus shifted from Gaza to Lebanon, and the EU's top diplomat Josep Borrell warned «we are almost in a full-fledged war.» Israel's closest ally the United States again warned against a full-blown ground invasion of Lebanon, with a senior US official promising to bring «concrete» ideas for de-escalation to the UN this week. It is unclear what progress can be made to defuse the situation in Lebanon as efforts to broker a ceasefire in Gaza, which Israel has relentlessly pounded since October 2023, have come to nothing. «Gaza, Ukraine and Sudan will be the dominant issues,»  said Richard Gowan of the International Crisis Group think tank, adding he expected many leaders to «warn that the UN will become irrelevant globally if it cannot help make peace.» More than 100 heads of state and government are scheduled to speak during the UN's centerpiece event, which will run until Monday. - 'Out-of-control' - Since last year's annual gathering, when Sudan's civil war and Russia's Ukraine invasion dominated, the world has faced an explosion of crises. «International challenges are moving faster than our ability to solve them,» Guterres warned ahead of the gathering. The October 7 attack by Palestinian Islamist group Hamas on Israel and the ensuing violence in the Middle East has exposed deep divisions in the global body. With Israel's leader Benjamin Netanyahu and Palestinian president Mahmud Abbas expected to address the General Assembly this week, there could be combustible moments. On Tuesday, representatives of Turkey, Jordan, Qatar, Iran and Algeria are slated to take the podium to press for a Gaza ceasefire after nearly one year of war. Ukraine will also be on the agenda Tuesday when President Volodymyr Zelensky addresses a UN Security Council meeting on Russia's war on Ukraine. «I invite all leaders and nations to continue supporting our joint efforts for a just and peaceful future,» Zelensky told the UN on Monday. «Putin has stolen much already, but he will never steal the world's future.» - 'Behind the scenes' - It is unclear if the grand diplomatic gathering can achieve anything for the millions mired in conflict and poverty globally. «Any real diplomacy to reduce tensions will take place behind the scenes,» Gowan said. «This may be an opportunity for Western and Arab diplomats to have some quiet conversations with the Iranians about the need to stop the regional situation spinning out of control.» Iraqi Prime Minister Mohammed Shia al-Sudani has called for an urgent meeting of Arab leaders on the sidelines of the UN General Assembly over the crisis in Lebanon. Guterres cautioned against «the possibility of transforming Lebanon (into) another Gaza.» © Agence France-Presse

Sri Lanka's leftist president-elect on Sunday invited his compatriots to help him «rewrite» history in the cash-strapped island nation after winning a vote coloured by discontent over an unprecedented financial crisis. Anura Kumara Dissanayaka, the 55-year-old leader of the People's Liberation Front, was declared the winner of the weekend's poll with nearly 1.3 million more votes than his nearest rival. The once-fringe leader, whose party won less than four percent of the vote in parliamentary elections four years ago, saw a surge of support as the economic meltdown forced widespread hardships upon Sri Lankans. «The dream we have nurtured for centuries is finally coming true,» he said in a statement shortly after the announcement. «This victory belongs to all of us,» he added. «Millions of eyes filled with hope and expectation push us forward, and together, we stand ready to rewrite Sri Lankan history.» Outgoing President Ranil Wickremesinghe -- who took office at the peak of the 2022 economic collapse and imposed tough austerity policies per the terms of an IMF bailout -- was a distant third in the contest with 17 percent of the vote. «History will judge my efforts, but I can confidently say that I did my best to stabilise the country during one of its darkest periods,» he said in a statement. He congratulated Dissanayaka on the win and said he was «confident» the politician would «steer Sri Lanka on a path of continued growth and stability». US ambassador Julie Chung also passed on her congratulations, saying in a statement that Washington stood «ready to work together on shared priorities» with his administration. Dissanayaka will be sworn in on Monday morning at the colonial-era President Secretariat in Colombo, election commission officials said. - IMF deal - Economic issues dominated the eight-week campaign, with widespread public anger over the belt-tightening measures imposed by Wickremesinghe since the peak of the island nation's bruising financial crisis. Dissanayaka would «not tear up» the IMF deal but would seek to modify it, a party politburo member told AFP. «It is a binding document, but there is a provision to renegotiate,» said Bimal Ratnayake. He said Dissanayaka had vowed to reduce income taxes that were doubled by Wickremesinghe and slash sales taxes on food and medicines. «We think we can get those reductions into the programme and continue with the four-year bailout programme,» he said. Dissanayaka's once-marginal Marxist party led two failed uprisings in the 1970s and 1980s that left more than 80,000 people dead. But Sri Lanka's crisis has proven an opportunity for Dissanayaka, whose popularity rocketed on his pledge to change the island's «corrupt» political culture. Around 76 percent of Sri Lanka's 17.1 million eligible voters cast ballots in Saturday's poll. Dissanayaka's party sought to reassure India that any administration he led would not be caught up in geopolitical rivalry between its northern neighbour and China, the country's largest lender. New Delhi has previously expressed concerns over what it sees as Beijing's growing influence in Sri Lanka, which sits on vital shipping lanes criss-crossing the Indian Ocean. «Sri Lankan territory will not be used against any other nation,» Ratnayake told AFP. «We are fully aware of the geopolitical situation in our region, but we will not participate.» Indian Prime Minister Narendra Modi said on X he was looking forward «to working closely with (Dissanayaka) to further strengthen our multifaceted cooperation for the benefit of our people and the entire region». - Austerity rejected - Wickremesinghe sought re-election to continue the austerity policies that stabilised the economy and ended months of food, fuel and medicine shortages during Sri Lanka's economic meltdown. His two years in office restored calm to the streets after civil unrest spurred by the downturn saw thousands storm the compound of his predecessor Gotabaya Rajapaksa, who then fled the country. But Wickremesinghe's tax hikes and other measures imposed under the $2.9 billion IMF rescue package he secured last year left millions struggling to make ends meet. Official data showed that Sri Lanka's poverty rate doubled to 25 percent between 2021 and 2022, adding more than 2.5 million people to those already living on less than $3.65 a day. Thousands of police were deployed to keep watch over voting on Saturday. A temporary curfew was imposed after polls closed, despite police reporting that there had been no violence during or after balloting. No victory rallies or celebrations are permitted until a week after the final results are declared. © Agence France-Presse