By <a href="https://www.cnbc.com/carmin-chappell/">Carmin Chappell</a> 



The city of Hong Kong has been roiled by&nbsp;<a href="https://www.cnbc.com/2019/08/11/protesters-clash-with-police-chant-liberate-hong-kong-as-unrest-continues.html" class="">protests</a>&nbsp;this summer. Hundreds of thousands of demonstrators have occupied the city’s streets, government buildings and even the main airport. All departing&nbsp;<a href="https://www.cnbc.com/2019/08/12/hong-kong-airport-cancels-all-flights-over-protests.html" class="">flights were canceled</a>&nbsp;on Monday, putting travel at a standstill.



Young people are at the forefront of Hong Kong’s protest movement. Many of the most prominent opposition leaders are still in their 20s, but they’re demanding big changes that could alter the future of their entire generation.



These are the issues they’re calling attention to:&nbsp;



<h2 class="wp-block-heading">Democracy</h2>



Hong Kong’s protests were sparked in June by a&nbsp;<a href="https://www.cnbc.com/2019/07/09/hong-kong-extradition-bill-carrie-lam-says-bill-is-dead-after-protests.html" class="">proposed bill</a>&nbsp;that would allow extraditions to mainland China. Opponents of the bill feared it was a sign of the Communist Party’s growing influence over Hong Kong, which is designated as a Special Administrative Region of China that operates largely independently.



Although Hong Kong’s government&nbsp;<a href="https://www.cnbc.com/2019/06/15/hong-kong-government-reportedly-will-suspend-china-extradition-bill.html" class="">suspended the bill</a>&nbsp;in response to the widespread backlash, the protests have continued. Demonstrators have harnessed the momentum to advocate for greater democratic freedoms overall.



Joshua Wong and Agnes Chow, both 22, and Nathan Law, 26, are three of the leaders of&nbsp;<a href="https://www.demosisto.hk/about?lang=en" class="">Demosisto</a>, a pro-democracy youth activist group in Hong Kong that has been on the front lines of the protests. Wong and Law were among several people&nbsp;<a href="https://www.cnbc.com/2017/08/17/occupy-activists-joshua-wong-nathan-law-alex-chow-jailed.html" class="">sentenced to jail</a>&nbsp;in 2017 for their role in the&nbsp;<a href="https://www.cnbc.com/2014/10/02/very-civil-disobedience-inside-hong-kongs-umbrella-revolution.html" class="">Umbrella Movement</a>, another wave of pro-democracy protests in 2014 led in large part by college students. But they haven’t let their previous run-ins with the law stop them from supporting this summer’s protests.



“What kind of young people does Hong Kong produce? Smart, efficient, attentive and freedom-loving,” Wong tweeted after protesters <a class="" href="https://www.cnbc.com/2019/07/01/fresh-hong-kong-protests-to-mark-22-years-since-handover-to-china.html">stormed the city’s legislative headquarters</a>. “I am proud of them.”



<blockquote class="twitter-tweet">24. What kind of young people does Hong Kong produce? Smart, efficient, attentive and freedom-loving. I am proud of them, although I confess I do not have the courage to do what they did yesterday. I have been jailed three times, so I know full well what now lies ahead of them.&mdash; Joshua Wong 黃之鋒 (@joshuawongcf) <a href="https://twitter.com/joshuawongcf/status/1145971981759631360?ref_src=twsrc%5Etfw">July 2, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



<h2 class="wp-block-heading">Economic inequality</h2>



Hong Kong is known as one of the world’s major economic hubs, but it’s also home to extreme inequality. The gap between the rich and the poor is staggering: According to the latest census report, the wealthiest 10% of households&nbsp;<a href="https://www.reuters.com/article/us-hongkong-anniversary-wealth-gap/hong-kong-wealth-gap-at-its-widest-in-decades-as-handover-anniversary-nears-idUSKBN19I1E2" class="">earn 44 times more</a>&nbsp;than the poorest 10%.



<a href="https://www.cnbc.com/2019/04/12/hong-kong-average-house-price-hits-1point2-million.html" class="">Housing prices</a>&nbsp;are also some of the highest in the world, surpassing even New York and London. To save money, many residents have opted to live in cramped, dorm-style rooms with bunk beds and shared bathrooms, known as “<a href="https://apnews.com/a8d99f34ca69410192747e62831ec231" class="">coffin homes</a>. ”



Half of the protesters identify as middle class, according to a&nbsp;<a href="https://www.scmp.com/news/hong-kong/politics/article/3022345/young-educated-and-middle-class-first-field-study-hong-kong" class="">field survey</a>conducted by local universities. But some experts say that the protests will ultimately&nbsp;<a href="https://www.cnbc.com/2019/06/19/businesses-may-consider-moving-from-hong-kong-to-singapore.html" class="">hurt Hong Kong’s economy</a>&nbsp;overall, if companies decide to relocate due to the unrest.



<h2 class="wp-block-heading">Hong Kong’s identity</h2>



Hong Kong’s transition from a British colony to part of mainland China was seen as a massive step for the future of the city. But many of those protesting today weren’t even born yet when Hong Kong was handed over to China in 1997, and they now worry for the loss of the city’s autonomy at the hands of the Communist Party.



“Police and Chinese mob are ruling Hong Kong,” tweeted Law. “When the Chinese mobs are attacking the citizens, no law enforcements are there.” At times during the demonstrations police have fired <a class="" href="https://www.cnbc.com/2019/07/21/hong-kong-residents-deface-chinese-emblem-in-latest-protest.html">tear gas and rubber bullets</a> into crowds of protesters. 



<blockquote class="twitter-tweet">Police and Chinese mob are ruling Hong Kong. They are beating citizens everywhere and trying to threaten the people. When the Chinese mobs are attacking the citizens, no law enforcements are there. Shame on the government.&mdash; Nathan Law 羅冠聰 (@nathanlawkc) <a href="https://twitter.com/nathanlawkc/status/1152979346295930880?ref_src=twsrc%5Etfw">July 21, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



Many young residents maintain a strong sense of identity with Hong Kong over China: 9% of Hong Kong residents ages 18 to 29 say they’re proud to be a Chinese citizen, while 38% of those over 50 feel the same way, according to a&nbsp;<a href="https://www.hkupop.hku.hk/english/release/release1594.html" class="">survey</a>&nbsp;by Hong Kong University.



The actions of Hong Kong’s youth mirror millennials around the world, who are increasingly standing up against the status quo and demanding more radical political change.



“If there is just one takeaway for the world: Events in Hong Kong are about so much more than the bill, more than Lam, more even than democracy,” tweeted Wong. “They all matter of course. But in the end it is about the future of Hong Kong beyond 2047, a future that belongs to our generation.” In 2047 the current political arrangement between Hong Kong and China will expire, opening up the possibility for a completely new system to take its place.



<blockquote class="twitter-tweet">28. If there is just one takeaway for the world: Events in Hong Kong are about so much more than the bill, more than Lam, more even than democracy. They all matter of course. But in the end it is about the future of Hong Kong beyond 2047, a future that belongs to our generation.&mdash; Joshua Wong 黃之鋒 (@joshuawongcf) <a href="https://twitter.com/joshuawongcf/status/1145975173234868224?ref_src=twsrc%5Etfw">July 2, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/08/12/meet-the-millennial-leaders-of-hong-kongs-protests.html">https://www.cnbc.com/2019/08/12/meet-the-millennial-leaders-of-hong-kongs-protests.html</a> and is republished with its permission.

Many of the leaders of Hong Kong’s protests are millennials—here’s why they’re taking action

JOHANNESBURG (Reuters) &#8211; South African lender Absa Group Ltd reported a 5% rise in first-half profit on Tuesday, while its core retail business managed to grow despite a faltering domestic economy.



Absa, once a market leader, has been trying to win back ground lost under the stewardship of former parent Barclays following its split from the British lender in 2017. But it is trying to turn around amid intense competition and a weak South African economy.



The bank said its headline earnings per share (HEPS) — the main profit measure in South Africa — rose 5% to 918.4 cents ($0.6019) for first-half, against 877.8 cents in 2018. When normalised to account for the impact of the Barclays separation, HEPS was up 3%.



Its South African retail business — which contributes over half of its earnings and had lagged behind its peers — grew earnings by 4%. This was despite a 20% spike in impairments and higher costs.



Meanwhile, rivals Nedbank and Standard Bank said earnings were flat at their domestic retail businesses following a shock economic growth contraction and spike in unemployment to an 11-year high.



Absa said its performance was due to higher non-interest income, which includes banking fees, and especially strong growth in everyday banking and car finance, which grew loans from 26 million rand to 122 million rand.

South Africa’s Absa bank reports 5% rise in first-half profit

By <a href="https://www.cnbc.com/marcel-schwantes/">Marcel Schwantes</a>



If you’re like most people, you probably have a long list of things you’d do differently if you had <a class="" href="https://www.cnbc.com/2019/07/03/advice-from-90-year-olds-how-to-live-a-long-happy-and-regret-free-life.html">a second shot at life</a>.



But&nbsp;<a href="https://www.cnbc.com/2019/07/30/warren-buffett-this-is-the-no-1-mistake-parents-make-when-teaching-kids-about-money.html" class="">Warren Buffett</a>? Not so much.



In 1998, at a&nbsp;<a href="https://www.youtube.com/watch?v=2MHIcabnjrA" class="">lecture</a>&nbsp;he gave at the&nbsp;<a href="https://www.youtube.com/watch?v=2MHIcabnjrA" class="">University of Florida’s School of Business</a>, an MBA student asked Buffett: “What would you do to live a&nbsp;<a href="https://www.cnbc.com/2019/06/29/deepak-chopra-do-these-3-little-things-to-live-a-longer-happier-life.html" class="">happier life</a>&nbsp;— if you could live all over again? ”



“This will sound disgusting,” the Berkshire Hathaway CEO joked, “but the only thing would be to select a gene pool where people lived to 120 or something where I came from.”



While Buffett’s answer might sound simple at first, the rest of his response revealed that his personal philosophy about happiness has very little to do with longevity.



In fact, if he was given the option to go back and live life “all over again,” he probably wouldn’t take it.



<h2 class="wp-block-heading">Buffett is best suited for the society he’s in now</h2>



The Oracle of Omaha took great care in laying out a scenario to illustrate how “extraordinarily lucky” he already feels today.



He told the audience to imagine a barrel with roughly 5.8 billions of balls — one for everybody in the world. Each ball will determine important factors (e.g., your birthplace, IQ level, gender, ethnicity, skills, parents) in your “new life.”



“If you could put your ball back into the barrel, and they took out 100 balls at random — and you had to from pick one of those, would you put your ball back in?” he asked.



In addition to not knowing which ball you’ll get, there’s another catch: “Of those 100 balls, five of them will be American. So if you want to be in this country, you’ll only have five balls to choose from,” Buffett explained. “Half of them will be women and half men. Half of them will be below average in intelligence and half above average in intelligence.”



He asked the students again: Do you still want to risk taking a second shot at life?



“Most of you won’t want to put your ball back,” he said. “So what you’re really saying is, ’I’m the luckiest 1% of the world right now, sitting in this room — the top 1% of the world.”



And that’s exactly how Buffett feels. “I’m lucky to be born where I was because it was 50 to one in the United States when I was born. I’ve been lucky to be wired in a way that, in a market economy, pays off like crazy for me,” he said.



<h2 class="wp-block-heading">You don’t need ‘luck’ to be happy</h2>



Buffett acknowledged that not everyone is as lucky as he is because it all depends on the system that one is born into.



”[Bill] Gates says that if I’d been born three million years ago, I would’ve been some animal’s lunch. He says, ‘You can’t run very fast, you can’t climb trees, you can’t do anything. You’d just be chewed up the first day,’” said Buffett.



He closed the lecture by encouraging everyone to think about happiness from a more practical standpoint: None of us can live life all over again, but we can increase our overall happiness by choosing to make changes in our career, goals, finances, health and relationships.



“The way to do it is to play out the game and do something you enjoy all your life,” he said. “Be associated with people you like. I only work with people I like. If I could make $100 million dollars with a guy who causes my stomach to churn, I’d say no.”



He continued: “I urge you to work in jobs you love. You’re out of your mind if you keep taking jobs that you don’t like because you think it’ll look good on your resume.”



Do what you love. It sounds easy when you’re one of the world’s richest people, but to be fair, Buffett was already doing what he loves long before he became successful.



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/08/10/warren-buffett-what-id-do-differently-to-live-a-happier-life.html">https://www.cnbc.com/2019/08/10/warren-buffett-what-id-do-differently-to-live-a-happier-life.html</a> and is republished with its permission.

Warren Buffett says this is what he’d do to live a happier life—if he could live all over again

LAGOS (Reuters) &#8211; Africa’s largest oil refinery will not be finished until the end of 2020 due to problems importing steel and other equipment, executives at Dangote, which is building the facility in the Nigerian commercial hub of Lagos, told Reuters.



Nigeria, Africa’s most populous nation, imports virtually all its fuel due to sclerotic and underutilised refineries, and even the state oil company is looking to the 650,000 barrel per day (bpd) Dangote refinery to help address this. [nL5N1UN5IK]



Price caps force NNPC to import nearly all its gasoline at a significant cost and periodic fuel shortages are common.



Despite the delays at the congested Apapa and Tin Can Island ports in Lagos, a Dangote executive said the company could start using the refinery’s tank farms as a depot to warm up operations.



“We will be able to complete the (refinery) project by the end of next year &#8211; mechanical completion,” said Dangote Group Executive Director Devakumar Edwin, who oversees the project.



The company expects fuel production within two months of completion of the refinery, which could transform Africa’s biggest crude producer from a fuel importer into a net exporter, upending global trade patterns.



Billionaire Aliko Dangote, who built his fortune on cement, first announced a smaller refinery in 2013, to be finished in 2016. Dangote then moved the site to Lekki, in Lagos, upgraded the size and said production would start in early 2020.



Industry sources told Reuters last year that fuel output was unlikely before 2022.



<h3 class="wp-block-heading">TRADING PLAN</h3>



Edwin also said during an interview at his office in Lagos that Dangote is setting up its own trading desk, with a senior team of three people and a staff of roughly 30 who will monitor international commodity prices.



“We are setting up a complete trading desk here with us. In the next three months the full desk will be set up,” he said.



Giuseppe Surace, the refinery’s chief operations officer, said the refinery’s tank farms will be finished this year and could be used as a warm-up for operations.



The tanks will be connected to five “single point mooring buoys” (SPMs), which will allow the refinery complex to pump crude straight into tanks from large ships at sea and pump products back out onto boats of any size.



The SPMs will be the primary method of supplying oil products from the refinery, Surace said, adding that the team were considering using the tanks as training or as a depot before the refinery’s production starts.



“We might do that. We will be ready to do that,” he said, though he added that no decision had been taken yet.



The team is in talks with NNPC, two other international oil companies and two large oil traders, all of whom are interested in supplying crude and buying products, Edwin said.[nL8N2539DB]



Edwin said the crude unit for the refinery, which set sail from China last month, would arrive by the end of October.



The trains at a fertilizer plant on the same site will start up by the end of this year, the executives said.



Reporting by Alexis Akwagyiram; editing by Libby George and Alexander Smith

Here’s why Nigeria’s huge Dangote oil refinery has been delayed until the end of 2020

JOHANNESBURG (Reuters) &#8211; South African President Cyril Ramaphosa won a court case against the anti-corruption watchdog on Thursday over a matter concerning ally Pravin Gordhan, ahead of a fresh battle over findings against the president himself.



A high court judge found that Ramaphosa had acted reasonably in not immediately disciplining Gordhan, the public enterprises minister, over a decision regarding the retirement of a tax official.



Thursday’s ruling was the third high-profile court defeat for Public Protector Busisiwe Mkhwebane in as many weeks, and she has come under public scrutiny for her investigations, including one into Ramaphosa.



Ramaphosa secured an “interdict” from the court, meaning he does not have to implement disciplinary action against Gordhan while Gordhan appeals against the finding by Mkhwebane.



By targeting Ramaphosa and Gordhan, the president’s supporters say, Mkhwebane is acting as a proxy for a faction in the ruling African National Congress party that is aligned with former president Jacob Zuma and opposes Ramaphosa’s agenda.



Mkhwebane denies playing politics, saying she is simply holding senior officials to account.



The judge criticised Mkhwebane for pushing for the disciplinary action against Gordhan to be implemented before his appeal of the public protector’s findings could be heard.



“It is mind-boggling why, in this matter, the public protector did not even consent to at least&#8230;have the remedial action stayed, pending finalisation of the review application,” judge Letty Molopa-Sethosa said in delivering her ruling.



Mkhwebane has also found in a separate investigation that Ramaphosa deliberately misled parliament over a 2017 donation to his campaign for the governing African National Congress party.



Ramaphosa has said he will urgently challenge the finding, which he says is flawed yet is still a headache for a president who has staked his reputation on cleaning up deep-rooted corruption and reviving Africa’s most developed economy.



Reporting by Alistair Smout; Editing by Mark Heinrich

South Africa’s Ramaphosa wins court case against #PublicProtector, what you need to know

JOHANNESBURG (Reuters) &#8211; South African lender Standard Bank shrugged off the impact of a faltering economy in its home market as its extensive operations across the continent helped the company to a 5% increase in first-half profit.



 Standard Bank has been expanding in some of Africa’s fastest-growing economies even as its domestic operations struggle in the face high personal debt and widespread unemployment in its home market. 



Like rival Nedbank, Standard Bank delivered flat earnings at its South African personal and business banking business. Elsewhere on the continent, Standard Bank &#8211; Africa’s largest lender by assets &#8211; more than doubled earnings in personal and business banking.



“Whilst there may be headwinds in certain markets, the diversity of our businesses and breadth of our footprint provide us with some shelter,” CEO Sim Tshabalala said in a statement.



Headline earnings per share (HEPS) &#8211; the main profit measure in South Africa &#8211; came in at 837.4 cents ($0.5591), against 794 cents in the same period last year. That 5% increase was slightly better than the 3% posted by Nedbank on Wednesday and helped to lift Standard Bank shares by 1.2% in morning trade.



Standard Bank’s pivot back to Africa after its failed foray into global emerging markets has paid off in other ways, too.



The lender said it would exercise an option to dispose of its 20% stake in the Industrial and Commercial Bank of China’s (ICBC) Argentinian operation &#8211; a relic from the abandoned strategy.



It expects to deliver a gain of about 600 million rand as a result of the transaction, adding that it will reinvest any proceeds into its Africa-focused operations, which have produced more stable profit.



However, a separate London-based partnership with ICBC, focused on financial markets and commodities, made a $129.5 million loss in the first half, largely attributable to a provision covering exposure to a single client that filed for bankruptcy.



Standard Bank has previously said the London-based ICBC joint venture would need 1.1 billion rand injected to support its business plan.



($1 = 14.9705 rand)



Reporting by Emma Rumney; Editing by David Goodman

Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

By Keith Wade, Chief Economist and Strategist at Schroders and Craig Botham, Senior Emerging Markets Economist.



The Chinese yuan (CNY) has fallen below 7.0 versus the US
dollar for the first time in a decade, a level which has been widely seen as a
line in the sand for the currency.



Why is the yuan falling?



The move follows President Trump’s decision to impose 10%
tariffs on $300 billion of Chinese imports last Friday. This is not a
coincidence. Rather than backing down in response to the US, China is upping
the ante.



The exchange rate had been on the agenda at the trade talks,
with China refraining from allowing the currency to weaken whilst negotiations
seemed to be making progress.



Along with the move in the CNY, China has asked its
state-owned enterprises (SOEs) to suspend purchases of agricultural imports
from the US. &nbsp;



How are markets reacting?



As in the last period of concern over the CNY in 2015,
markets have reacted adversely. Risk assets have sold off and safe havens such
as government bonds and the Japanese yen are rallying.



Back in 2015, uncertainty over the direction of China’s
currency was significant as the authorities had not communicated their change
of strategy to the markets. Today there is a clearer framework in place, and
there are other differences. For example, in 2015 firms’ currency exposures
were unhedged and unprepared for any currency weakness.



Many borrowed in external currency simply to take advantage
of the carry trade. The shock of 2015 and the greater two-way volatility since
then, reinforced by messaging from the People’s Bank of China, means that there
is less of a mismatch on corporate balance sheets.



Messaging around the weakness is also clearer today than in
2015, when the reason for the devaluation was not obvious and so was
interpreted as a sign of underlying economic weakness. In short, we would not
expect a repeat today.



China had wanted tariffs to be removed as part of any deal,
so by doing the opposite Trump was effectively delivering a rebuke. The problem
now is that both sides could get into a position where they cannot back down
without losing face. Consequently, the prospect of a deal has diminished and
the risks of escalation have risen.



What does this mean for the global outlook?



Increased trade tensions will put further downward pressure
on global activity, with investment plans likely to be delayed or cancelled and
trade suffering. China and the Asian supply chain will be most affected, but US
growth will also suffer.



Alongside a stronger US dollar, such an environment may well
lead the US Federal Reserve to cut rates faster and further. Such a move may
please the president and yet, whilst he could reverse his decision on tariffs
with a tweet, it is difficult to avoid the conclusion that he has misjudged
China’s reaction.

Op-Ed: Has Trump misjudged China ?

NAIROBI (Reuters) &#8211; Kenya has sent out invitations to international commercial banks to subscribe to a syndicated loan worth up to 150 billion shillings ($1.45 billion), the Business Daily reported on Wednesday.



The finance ministry set a budget deficit of 5.6% of GDP in June for the 2019/20 (July-June) fiscal year, targeting to borrow 324 billion shillings or close to half of the shortfall, from external sources.



The loan, which will mature in six years, will come with an interest rate of 645 basis points above the Libor interest rate benchmark, the newspaper reported.



Treasury officials were not immediately available for comment.



A Nairobi-based banker with an international lender said he had not seen the term sheet of the proposed loan but the report was not surprising given the Treasury has pencilled in foreign borrowing of $3.2 billion this financial year.



Under President Uhuru Kenyatta, who took office in 2013 and was re-elected in 2017, total debt has rose to more than 50% of GDP, from 42% of GDP.



The government has defended the increased borrowing, saying the country must invest in its infrastructure, including roads and railways.



Public anger at the government’s higher appetite for debt has grown as the country’s top prosecutor has in the past year ordered the arrest of dozens of current and former government officials for involvement in graft in many government ministries and agencies.



The finance minister who set the borrowing targets for this financial year, Henry Rotich, was charged with corruption last month over the loss of billions of shillings in two dam construction tenders.



He denied the charges and was granted bail by the court, before Kenyatta replaced him with Labour Minister Ukur Yatani as acting finance minister.



Reporting by Duncan Miriri; Editing by Maggie Fick

Kenya seeks 150 billion shilling syndicated loan, what you need to know about

NAIROBI (Reuters) &#8211; The African Development Bank (AfDB) has approved a $98 million financial package for Ethiopia for a road transport corridor project to neighbouring Djibouti, it said late on Tuesday.



The project’s total cost is $255 million, comprising an AfDB grant of $98 million to Ethiopia’s government and an AfDB grant of $5.3 million to Djibouti’s government, plus a co-financing contribution of $151 million by Ethiopia’s government.



“The project will enhance trade by significantly reducing transport costs, thereby accelerating the economic growth of Ethiopia and its neighbour Djibouti, as it is part of the main import-export corridor,” the AfDB said in a statement.



Reporting by Omar Mohammed; Writing by Maggie Fick; Editing by Duncan Miriri

AfDB approves $98 million financing for road transport corridor project in these two East African nations

HARARE (Reuters) &#8211; Zimbabwe’s main opposition party is planning street demonstrations next week to protest against the government’s handling of the economy, which is mired in its worst crisis in a decade and has plunged most citizens into poverty.



The southern African nation is enduring shortages of foreign currency, fuel and bread as well as 18-hour power cuts. The power outages threaten mining and industrial output and have upended lives. [nL8N24X7EO]



The opposition Movement for Democratic Change (MDC) will hold marches in the capital on Aug. 16 against corruption, unemployment and power and fuel shortages and a deteriorating economy, the party said in a notice to the police dated Aug. 5.



“The national challenges are a result of a governance and legitimacy crisis arising primarily out of the disputed election of July 2018,” national organising secretary Amos Chibaya said in the notice, seen by Reuters.



The departure of long-time leader Robert Mugabe after a coup in 2017 was greeted with euphoria and hope, but this has gradually turned to despair as his successor, President Emmerson Mnangagwa, has failed to revive the economy or usher in meaningful political reforms.



Chibaya said demonstrators would present a petition to parliament after next week’s march.



Luke Tamborinyoka, the MDC deputy spokesman, confirmed the party had notified the police, adding that “we hope the police will allow us to exercise our constitutional right”.



Police spokesman Paul Nyathi said he could not immediately comment.



The MDC does not recognise Mnangagwa’s presidency and maintains that he rigged last year’s vote, charges that the 76-year-old leader denies. Last week, MDC legislators boycotted the mid-term budget statement in parliament because Mnangagwa was present.



The last big protest in Zimbabwe, organised by the main labour union in January against a sharp fuel hike, turned deadly after it spilled onto the streets and was met by an army clampdown in which more than a dozen people died. [nL8N1ZE26M]



Everyday life is getting increasingly tough, with the prices of basic goods spiralling and medical supplies in short supply. Motorists wait for hours to fill up at fuel stations despite fuel prices having gone up more than 500% this year.



Reporting by MacDonald Dzirutwe; Editing by Frances Kerry

Zimbabwe’s opposition MDC party is planning to protest next week, here’s why

JOHANNESBURG (Reuters) &#8211; South Africa’s state power utility Eskom urgently needs a turnaround plan as its capital structure is unsustainable, credit ratings agency Moody’s said on Tuesday in a report which sent the rand lower.



“The company’s operational and financial performance has deteriorated, indicating the extent of the challenges facing Eskom in meeting its debt obligations absent government support,” Moody’s said in a note.



Eskom reported a mammoth 20.7 billion rand ($1.39 billion) annual loss a week ago. [nL8N24V5CB]



($1 = 14.9196 rand)



Reporting by Alistair Smout; Editing by Jan Harvey

South Africa’s state power utility Eskom urgently needs turnaround plan – Moody’s

By <a href="https://www.cnbc.com/courtney-connley/">Courtney Connley</a>



Traditionally, candidates have been advised to broach the topic of salary only after a job offer is on the table.



But bestselling management author and CNBC contributor Suzy Welch says that the rules have changed: In&nbsp;today’s economy, it’s completely acceptable to discuss salary up front.



Welch tells <a class="" href="https://www.cnbc.com/make-it/">CNBC Make It</a> it all comes down to “simple economics.”



“Obviously, not all regions and industries are hot,” she says. “But in general, hiring managers are sweating bullets these days. Good candidates are hard to find and even harder to land.”



The upside to today’s tight job market, Welch says, is that “job seekers have leverage, which means you can ask about money when you want — even in the first conversation.” This also means that both the job seeker and the hiring manager are free to “make sure you’re on the same page before you slog through three or four interviews, only to find out you’re moneybags apart.”



But these new rules don’t mean that job seekers should say whatever they want&nbsp;— language, tone and approach are still important.&nbsp;



“Jerks still have a hard time getting hired,” Welch says. “Try something like, ‘This job sounds fantastic and I’m very excited about it. Could you just help me understand the salary range so we can make sure we’re aligned before moving forward?’”



Welch emphasizes that “no economic boom goes on forever, and someday, when tough times return, so may this taboo.” But until that happens, she says, there’s no reason not to be up-front about your expectations from the beginning.&nbsp;



“Go ahead and talk money early. You know you want to, and at last, for now and nicely, you can.”



Suzy Welch is the co-founder of the <a class="" href="http://jwmi.com/?mcv=jdg469">Jack Welch Management Institute</a>and a noted business journalist, TV commentator and public speaker. Think you need Suzy to fix your career? Email her at gettowork@cnbc.com.



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/08/05/suzy-welch-heres-when-to-discuss-salary-in-a-job-interview.html">https://www.cnbc.com/2019/08/05/suzy-welch-heres-when-to-discuss-salary-in-a-job-interview.html</a> and is republished with its permission.

Suzy Welch: The rules have changed—here’s when to discuss salary in a job interview

By Pieter Scribante, Economist and Political Analyst



On July 31, the National Oil Corporation (NOC) declared force majeure on oil production at El-Sharara – Libya’s largest oil field – and on crude oil loadings at the Al-Zawiya port. 



This
was prompted by an illegal pipeline valve closure which hinders oil supply from
El-Sharara to the port. Attempts to reopen the valve and restart production are
being prevented by “a local armed group”, according to a statement by the NOC. 



This
is the second time in less than ten days that the NOC has halted oil production
at El-Sharara, with the previous force majeure being lifted, after only a few
days, on July 23. The production loss equates to an estimated 290,000 bpd or
roughly $19m a day. 



Oil
production has remained remarkably stable over the second quarter despite
events in Tripoli and was recorded at a six year high at an average of
1,155,000 bpd in 2019 Q2 (still well off the pre-2011 revolution average of
around 1.6 mbpd). 



The
second quarter’s production signifies a 19.7% q-o-q increase on the 965,000 bpd
recorded in 2019 Q1 when El-Sharara was closed for three months after being
occupied by protesters. 



Oil
production is currently below 950,000 bpd, the lowest level since February,
according to the NOC. 



NOC
Chairman Mustafa Sanalla stated that “This latest incident only serves to
highlight the fragility of our security environment and the total disregard for
the impact of such acts on the lives of everyday Libyans. The loss of
production at Libya’s largest oilfield severely disrupts power supply to the
grid and the continued funding of basic services. This is most acutely felt by
communities in the South.” 



It is unclear when the force majeure will be lifted, but Akakus Oil Operations, a subsidiary of the NOC, is attempting to reopen so that operations can resume.



<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/08/Libya-graph.png" alt="" class="wp-image-342354" width="341" height="259"/></figure></div>



This
illegal valve closure raises concerns that the ‘unnamed militias’ are either
trying to disrupt oil distribution, thereby reducing the revenue stream of the
Tripoli-based NOC and Government of National Accord (GNA), or they are trying
to bypass them altogether. 



There
were reports of illegal oil sales by the NOC based in the country’s east in May
– which would contravene the 2016 UN Security Council resolution that
designated the Tripoli-based institutions as the sole entities with authority
over the sale of Libyan crude oil – but no further developments or details have
emerged since. 



Whether
these unnamed militias are associated with the Libyan National Army (LNA) is
unclear; what is clear is that the country’s oil production remains at risk. 



Different
armed groups are increasingly likely to take advantage of the security vacuum
left throughout the country, with the LNA spread thin as it tries to take
Tripoli. 



The
group, under the leadership of Field Marshal Khalifa Haftar, continues its
assault on the UN-recognised GNA in the capital. 



The
fighting has claimed the lives of almost 1,100 people since fighting began in
April, according to the World Health Organisation.

Op-Ed: Force majeure declared on Libya’s largest oil field

By <a href="https://theconversation.com/profiles/rachel-adams-790073">Rachel Adams</a>, <a href="http://theconversation.com/institutions/human-sciences-research-council-2144">Human Sciences Research Council</a>

The Fourth Industrial Revolution is, ostensibly, upon us. The <a href="https://www.weforum.org/about/the-fourth-industrial-revolution-by-klaus-schwab">term was coined</a> in 2016 by Klaus Schwab, the founder and executive chairman of the World Economic Form. 

Broadly, it refers to the collapsing of boundaries between the physical, digital and biological spheres. More specifically, it’s about the digitalisation of all kinds of systems and processes. Artificial Intelligence (AI) is at the forefront of this reality. This involves systems that, as the <a href="https://ec.europa.eu/digital-single-market/en/news/definition-artificial-intelligence-main-capabilities-and-scientific-disciplines">European Commission puts it</a>, “display intelligent behaviour by analysing their environment and taking actions … to achieve specific goals”. 

AI is used today in everything from face and speech recognition technologies to image analysis software. It’s also a cornerstone of self-driving cars and advanced robotics.

Part of this “revolution’s” promise is that AI and similar technologies <a href="https://www.dst.gov.za/images/2019/White_paper_web_copyv1.pdf">will be used</a> to drive economic growth, development and positive societal change. But critical inquiry is urgently needed to gauge what effects the fourth industrial revolution is having and will have on vulnerable, marginalised populations.

In South Africa, there has been some discussion around the <a href="https://www.businesslive.co.za/bd/opinion/2019-07-04-4ir-in-sa-is-too-important-to-remain-the-domain-of-the-elite/">elitist discourse</a> in which conversations about the fourth industrial revolution are happening. Some have pointed out the need to ensure that policy linked to these changes address all stakeholders’ needs. Others have explored its potential effects <a href="https://www.dailymaverick.co.za/article/2019-07-04-4ir-the-good-the-bad-and-the-inequality-gap/">on inequality in the country’s job market</a>. But there has been little discussion around how women specifically may be affected.

This is a worrying oversight. The world of the fourth industrial revolution looks set to be one dominated by forms of knowledge and industries – like science and technology – that have long been <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3281807">dominated by men</a>.

In addition, many of the opportunities the fourth industrial revolution is thought to offer are internet based. Yet, as a <a href="https://www.apc.org/en/news/african-women-face-widening-technology-gap">recent study</a> has shown, women tend to have less access to internet based technologies than men do in Africa. This means that the impact on women’s lives and work opportunities becomes a critical concern. 

<h2>The future of women’s work</h2>

The future of work has been one of the key discussion points in the context of new technologies and the fourth industrial revolution. 

With the increase in automaton, those working in <a href="https://www.oxfordmartin.ox.ac.uk/downloads/academic/The_Future_of_Employment.pdf">“routine intensive occupations”</a> – such as secretarial or call centre work – are considered likely to be replaced in the workplace by computers, which are thought to be more efficient and less costly. Robots are being prepped to replace <a href="https://emerj.com/ai-sector-overviews/applications-of-ai-in-elderly-care-robotics/">care-worker jobs</a>. These types of professions, along with others that are particularly vulnerable to being replaced by robotics or computers, are <a href="https://ssir.org/articles/entry/women_and_the_future_of_work#">generally occupied by women</a>.

In South Africa, where the <a href="http://www.statssa.gov.za/?p=11375">labour market is already more favourable to men than women</a>, this presents a serious concern. 

<hr>

 
 
 Read more:
 <a href="http://theconversation.com/south-africans-are-upbeat-about-new-technologies-but-worried-about-jobs-120358">South Africans are upbeat about new technologies, but worried about jobs</a>
 
 

<hr>


There are other reasons to worry. The gender <a href="https://www.apc.org/en/news/african-women-face-widening-technology-gap">digital gap</a> in South Africa, and on the African continent more broadly, is only widening, with women having lower digital literacy, less access to internet based technologies, and less relevant online content to men. This suggests that women may be left out of increasingly digital work opportunities too. 

In addition, due to the burden of care and domestic duties women tend to carry on top of paid work, women <a href="http://globaldialogue.isa-sociology.org/emotional-labor-around-the-world-an-interview-with-arlie-hochschild/">have significantly</a> less time than men to undertake further education and training. That means they won’t easily be able to boost their digital skills.

These realities reveal some of the gaps in South Africa’s existing policy objectives around the fourth industrial revolution. For instance, the country’s <a href="https://www.dst.gov.za/images/2019/White_paper_web_copyv1.pdf">White Paper on Science, Technology and Innovation</a> is to provide information and communications technology training at all levels. But given the problems I’ve outlined, women are less likely than men to benefit from this.

So what can the country do differently?

<h2>Lessons and research</h2>

For starters, it could learn from other countries. In Ghana, an initiative called <a href="http://www.stembees.org/about-us/">STEMbees</a> not only promotes science, technology, engineering and maths training for women and girls; it also addresses social issues such as digital safety. There could be lessons here for South Africa.

The country should also consider how technology can be used to empower and help women rather than shutting them out. There are <a href="https://www.theguardian.com/careers/2017/mar/20/meet-the-women-using-tech-to-combat-sexual-assault">many examples</a> of this globally. 

Along with this learning, South Africa needs to thoroughly research and understand the effects of the fourth industrial revolution on women and the barriers – whether educational, social or technological – to accessing and utilising internet based resources. 

Policy responses to promoting women in STEM need to holistically address both the lack of women in STEM fields as well as the structural factors that have led to this situation.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/121216/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" />

<a href="https://theconversation.com/profiles/rachel-adams-790073">Rachel Adams</a>, Research Specialist, <a href="http://theconversation.com/institutions/human-sciences-research-council-2144">Human Sciences Research Council</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-fourth-industrial-revolution-risks-leaving-women-behind-121216">original article</a>.

Will the Fourth Industrial Revolution leave women behind ?

HARARE (Reuters) &#8211; Zimbabwe will ramp up its electricity imports over the next few weeks, potentially easing rolling power cuts, after it agreed to make payments to clear its debt to a regional power utility, a treasury official said on Monday. 



The southern African nation has endured 18-hour daily power cuts since May as a result of a prolonged drought that has reduced output at its largest hydro plant and ageing coal-fired generators that keep breaking down.



Foreign power companies also stopped supplying Zimbabwe with electricity in 2017 after the country failed to pay its bills, although Zimbabwe resumed limited imports of 300 MW a month last week.



George Guvamatanga, secretary for the ministry of finance, told business leaders in Harare that Zimbabwe had agreed to make weekly payments to clear its debt to a regional power utility, which would start providing at least 400 MW of electricity a month, starting from this week.



That would take total imports to 700 MW a month.



Guvamatanga did not name the supplier. Zimbabwe typically buys electricity from South Africa’s Eskom and Hydro Cahora Bassa of Mozambique.



Zimbabwe owes more than $70 million to Eskom and Hydro Cahora Bassa of Mozambique for past power supplies.



“I think the arrangement that we have put in place now on electricity should hopefully guarantee us increased supply from tomorrow or Wednesday,” Guvamatanga said.



“Working with the mining sector we have been able to ring-fence adequate resources to pay for at least 400 megawatts of electricity a month.”



Power shortages, along with drought and a severe dollar crunch, will result in the economy shrinking this year, the finance minister said last week.



Energy and Power Development Minister Fortune Chasi was in South Africa at the end of July to try negotiate for a power deal with Eskom. He did not immediately respond to calls and messages on his mobile phone on Monday.



Eskom, which is itself struggling to meet South Africa’s electricity needs, had no immediate comment.



The government said last week that power utility ZESA Holdings was accessing 300 MW during off-peak hours from the Southern African Power Pool, a regional industry collaboration linking up national grids.



Guvamatanga said for now Zimbabwe would have to rely on electricity imports, which required foreign currency that is in short supply.



Last week finance minister Mthuli Ncube announced a three-fold increase in electricity tariffs, as the government seeks to raise more funds for power generation.



Reporting by MacDonald Dzirutwe; Editing by Susan Fenton

Zimbabwe ramps up its electricity imports to ease outages

By <a href="https://theconversation.com/profiles/kerstin-carlson-344474">Kerstin Carlson</a>, <a href="http://theconversation.com/institutions/university-of-southern-denmark-1097">University of Southern Denmark</a>

In June this year two lawyers filed a complaint at the International Criminal Court (ICC) naming European Union member states’ migration policies in the Mediterranean as crimes against humanity. 

The court’s Prosecutor, Fatou Bensouda, must decide whether she wants to open a preliminary investigation into the criminality of Europe’s treatment of migrants. 

The challenge against the EU’s Mediterranean migrant policy is set out in a 245-page document prepared by Juan Branco and Omer Shatz, two lawyer-activists working and teaching in Paris. They <a href="https://www.statewatch.org/news/2019/jun/eu-icc-case-EU-Migration-Policies.pdf">argue that EU migration policy</a> is founded in deterrence and that drowned migrants are a deliberate element of this policy. The international law that they allege has been violated – crimes against humanity – applies to state policies practiced even outside of armed conflict. 

Doctrinally and juridically, the ICC can proceed. The question that remains is political: can and should the ICC come after its founders on their own turf?

There are two reasons why the answer is emphatically yes. First, the complaint addresses what has become a rights impasse in the EU. By taking on an area stymying other supranational courts, the ICC can fulfil its role as a judicial institution of last resort. Second, by turning its sights on its founders (and funders), the ICC can redress the charges of neocolonialism in and around Africa that have dogged it for the past decade.

<h2>ICC legitimacy</h2>

The ICC is the world’s first permanent international criminal court. Founded in 2002, it currently has 122 member states. 

So far, it has only prosecuted Africans. This has led to persistent critiques that it is a neocolonial institution that “only chases Africans” and only tries rebels. In turn, this has led to pushback against the court from powerful actors like the African Union, which <a href="http://www.loc.gov/law/foreign-news/article/african-union-resolution-urges-states-to-leave-icc/">urges its members to leave the court</a>. 

The first departure from the court occurred in 2017, when <a href="https://www.nytimes.com/2017/10/27/world/africa/burundi-international-criminal-court.html">Burundi left</a>. The <a href="https://www.nytimes.com/2019/03/17/world/asia/philippines-international-criminal-court.html">Philippines</a> followed suit in March of this year. Both countries are currently under investigation by the ICC for state sponsored atrocities. <a href="https://justiceinconflict.org/2018/09/10/a-graceful-exit-for-south-africas-icc-withdrawal-plans/">South Africa threatened withdrawal</a>, but this seems to have blown over.

In this climate, many cheered the news of the ICC Prosecutor’s <a href="https://www.hrw.org/news/2019/04/23/afghanistan-icc-abandons-field">2017 request to investigate</a> crimes committed in Afghanistan. As a member of the ICC, Afghanistan is within the ICC’s jurisdiction. The investigation included atrocities committed by the Taliban and foreign military forces active in Afghanistan, including members of the US armed forces. 

The US, which is not a member of the ICC, <a href="https://www.hrw.org/news/2002/08/03/us-hague-invasion-act-becomes-law">violently opposes</a> any possibility that its military personnel might be caught up in ICC charges. In <a href="https://www.icc-cpi.int/Pages/item.aspx?name=pr1448">April 2019</a> the ICC announced that a pre-trial chamber had shut down the investigation because US opposition made ICC action impossible. 

Court watchers <a href="https://www.hrw.org/news/2019/04/23/afghanistan-icc-abandons-field">reacted with frustration and disgust</a>.

<h2>EU migration</h2>

An estimated <a href="https://www.theguardian.com/world/2018/jun/20/the-list-europe-migrant-bodycount">30,000 migrants have drowned</a> in the Mediterranean in the past three decades. International attention was drawn to their plight during the migration surge of 2015, when the image of <a href="https://www.theguardian.com/world/2015/dec/31/alan-kurdi-death-canada-refugee-policy-syria-boy-beach-turkey-photo">3-year-old Alan Kurdi</a> face-down on a Turkish beach circulated the globe. More than one million people entered Europe that year. This led the EU and its member states to close land and sea borders in the east by erecting fences and completing a Euro 3 billion deal with Turkey to keep migrants there. NATO ships were posted in the Aegean to catch and return migrants. 

Migrant-saving projects, such as the Italian Mare Nostrum programme that <a href="https://www.refworld.org/pdfid/548713624.pdf">collected 150,000 migrants in 2013-2014</a>, were replaced by border guarding projects. Political pressure designed to reduce the number of migrants who made it to European shores led to the <a href="https://www.theguardian.com/world/2018/sep/12/migrant-rescue-ships-mediterranean">revocation and non-renewal of licenses</a> for boats registered to NGOs whose purpose was to rescue migrants at sea. This has led to the current situation, where <a href="https://qz.com/1639293/only-one-refugee-rescue-boat-operated-by-aid-groups-remains-in-the-mediterranean-sea/">there is only one boat patrolling</a> the Mediterranean.

The EU has handed search and rescue duties over to the Libyan coast guard, which has been accused repeatedly of <a href="https://www.theguardian.com/global-development/2019/jan/21/eu-support-for-libya-contributes-to-extreme-abuse-of-refugees-human-rights-watch-study">atrocities against migrants</a>. European countries now negotiate Mediterranean migrant reception on <a href="https://www.theguardian.com/world/2019/jul/23/eu-countries-agree-plan-to-handle-migrants-and-refugees">a case-by-case basis</a>.

<h2>A rights impasse</h2>

International and supranational law applies to migrants, but so far it has inadequately protected them. The <a href="https://www.un.org/depts/los/convention_agreements/texts/unclos/unclos_e.pdf">law of the sea</a> mandates that ships collect people in need. A series of refusals to allow ships to disembark collected migrants has <a href="https://www.jus.uio.no/nifs/english/research/projects/oslos/events/seminars/2018-11-14-migration.html">imperilled this international doctrine</a>. 

In the EU, the <a href="http://www.europarl.europa.eu/RegData/etudes/PERI/2017/600414/IPOL_PERI(2017)600414_EN.pdf">Court of Justice</a> oversees migration and refugee policies. Such oversight now includes a two-year-old deal with Libya that some claim is tantamount to “<a href="https://www.theguardian.com/commentisfree/2019/feb/05/eu-deal-libya-refugees-libyan-detention-centres">sentencing migrants to death</a>.” 

For its part, the European Court of Human Rights has established itself as “<a href="https://theconversation.com/why-the-european-court-of-human-rights-is-no-friend-to-migrants-42129">no friend to migrants</a>.” Although the court’s 2012 decision in <a href="https://www.amnesty.org/en/latest/news/2012/02/italy-historic-european-court-judgment-upholds-migrants-rights/">Hirsi</a> was celebrated for a progressive stance regarding the rights of migrants at sea, it is unclear <a href="https://brill.com/view/journals/emil/20/4/article-p396_3.xml?lang=en">how expansively that ruling applies</a>.

European courts <a href="https://hudoc.echr.coe.int/eng-press#%7B%22itemid%22:%5B%22003-6443361-8477507%22%5D%7D">are being invoked</a> and making rulings, yet the journey for migrants has only grown more desperate and deadly over the past few years. Existing European mechanisms, policies, and international rights commitments are not producing change. 

In this rights impasse, the introduction of a new legal paradigm is essential. 

<h2>Fulfilling its role</h2>

A foundational element of ICC procedure is complementarity. This holds that the court only intervenes when states cannot or will not act on their own. 

Complementarity has played an unexpectedly central role in the cases before the ICC to date, as African states have self-referred defendants claiming that they do not have the resources to try them themselves. This has greatly contributed to the ICC’s political failure in Africa, as rights-abusing governments have handed over political adversaries to the ICC for prosecution in bad faith, enjoying the benefits of a domestic political sphere relieved of these adversaries while <a href="https://www.press.uchicago.edu/ucp/books/book/distributed/A/bo47223014.html">simultaneously complaining of ICC meddling in domestic affairs</a>.

This isn’t how complementarity was supposed to work. 

The present rights impasse in the EU regarding migration showcases what complementarity was intended to do – granting sovereign states primacy over law enforcement and stepping in only when states both violate humanitarian law and refuse to act. The past decade of deadly migration coupled with a deliberately wastrel refugee policy in Europe qualifies as just such a situation.

Would-be migrants don’t vote and cannot garner political representation in the EU. This leaves only human rights norms, and the international commitments in which they are enshrined, to protect them. These norms are not being enforced, in part because questions of citizenship and border security have remained largely the domain of sovereign states. Those policies are resulting in an ongoing crime against humanity. 

The ICC may be the only institution capable of breaking the current impasse by threatening to bring Europe’s leaders to criminal account. This is the work of last resort for which international criminal law is designed. The ICC should embrace the progressive ideals that drove its construction, and engage.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/120851/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" />

<a href="https://theconversation.com/profiles/kerstin-carlson-344474">Kerstin Carlson</a>, Associate Professor International Law, <a href="http://theconversation.com/institutions/university-of-southern-denmark-1097">University of Southern Denmark</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/migration-in-the-mediterranean-why-its-time-to-put-european-leaders-on-trial-120851">original article</a>.

Migration in the Mediterranean: It’s time for the ICC to put European leaders on trial, here’s why

HARARE (Reuters) &#8211; Zimbabwe will repeal its indigenisation and economic empowerment legislation dealing with ownership of foreign-controlled companies and replace it with a new empowerment law, Finance Minister Mthuli Ncube said on Thursday.



Addressing parliament, Ncube also said foreign investors can now take majority stakes in the platinum and diamond sectors.



The empowerment law adopted in 2008 under Robert Mugabe forced foreign-owned businesses including mines to cede at least 51% shares of their local operations to black Zimbabweans.



In a bid to attract investment, President Emmerson Mnangagwa last year removed these requirements for other minerals except diamonds and platinum, which his government said were strategically important.



Reporting by MacDonald Dzirutwe; Writing by Olivia Kumwenda-Mtambo; Editing by Hugh Lawson

Special Report

Many of the leaders of Hong Kong’s protests are millennials—here’s why they’re taking action

South Africa’s Absa bank reports 5% rise in first-half profit

Warren Buffett says this is what he’d do to live a happier life—if he could live all over again

Here’s why Nigeria’s huge Dangote oil refinery has been delayed until the end of 2020

South Africa’s Ramaphosa wins court case against #PublicProtector, what you need to know

Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

Op-Ed: Has Trump misjudged China ?

Kenya seeks 150 billion shilling syndicated loan, what you need to know about

AfDB approves $98 million financing for road transport corridor project in these two East African nations

Zimbabwe’s opposition MDC party is planning to protest next week, here’s why

South Africa’s state power utility Eskom urgently needs turnaround plan – Moody’s

Suzy Welch: The rules have changed—here’s when to discuss salary in a job interview

Op-Ed: Force majeure declared on Libya’s largest oil field

Will the Fourth Industrial Revolution leave women behind ?

Zimbabwe ramps up its electricity imports to ease outages

Migration in the Mediterranean: It’s time for the ICC to put European leaders on trial, here’s why

Zimbabwe to repeal empowerment law, what you need to know

News Tips

Advertise With Us

Special Report

Many of the leaders of Hong Kong’s protests are millennials—here’s why they’re taking action

South Africa’s Absa bank reports 5% rise in first-half profit

Warren Buffett says this is what he’d do to live a happier life—if he could live all over again

Here’s why Nigeria’s huge Dangote oil refinery has been delayed until the end of 2020

South Africa’s Ramaphosa wins court case against #PublicProtector, what you need to know

Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

Op-Ed: Has Trump misjudged China ?

Kenya seeks 150 billion shilling syndicated loan, what you need to know about

AfDB approves $98 million financing for road transport corridor project in these two East African nations

Zimbabwe’s opposition MDC party is planning to protest next week, here’s why

South Africa’s state power utility Eskom urgently needs turnaround plan – Moody’s

Suzy Welch: The rules have changed—here’s when to discuss salary in a job interview

Op-Ed: Force majeure declared on Libya’s largest oil field

Will the Fourth Industrial Revolution leave women behind ?

Zimbabwe ramps up its electricity imports to ease outages

Migration in the Mediterranean: It’s time for the ICC to put European leaders on trial, here’s why

Zimbabwe to repeal empowerment law, what you need to know

News Tips

Advertise With Us

Newsletters