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From yuan-denominated oil futures (and soon to be yuan-denominated metals contracts) to Europe’s decision to use Yuan to pay for Iranian oil; and from non-dollar settlement systems for Russia/Chinese trade to Turkey’s call for citizens to dump the dollar, it appears each action of the Trump administration deepens the distrust in the dollar hegemony, coalescing the world against Washington’s reserve currency unipolar order.

All of which leads to this…

In a well-placed interview in China’s Xinhua news – the official press agency of the People’s Republic of China – officials from Africa are seen calling for more yuanification of the massive continent’s economies.

There has been a general consensus among some eastern and southern African countries that there should be more usage of the Chinese yuan in the region because of China’s growing influence in business and trade, a financial expert said Thursday.

Executive director of the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) Caleb Fundanga said a forum for financial experts earlier in the week had agreed that there was need to use the Chinese yuan as a reserve currency because China was playing an active role in their economies.

The forum was attended by deputy central bank governors and deputy permanent secretaries of finance from 14 countries that fall under MEFMI.

“The general conclusion is that we should use the yuan more because its time has come. We are doing more business (with China) so it’s natural that we use the currency of the country with which we are trading.

…click on the above link to read the rest of the article…

Introducing Empire Oil: A DeSmog UK Special Investigation

May 16, 2018

Introducing Empire Oil: A DeSmog UK Special Investigation

African Oil Hub

The UK likes to brag about its credentials as a global climate leader. But a new DeSmog UK investigation reveals that beneath the green veneer lies some dirty business.

At the centre of it all is the City of London and its junior stock exchange, the Alternative Investment Market (AIM).

DeSmog UK’s new three-part investigative series Empire Oil: London’s Dirty Secret, lifts the veil on a “boys’ club” that generates wealth for The City from environmentally damaging activities in politically unstable regions.

Through detailed analysis of company activity and market data, it exposes how AIM’s “light touch” regulation and complex offshore company structures create an opaque corporate environment in which conflicts of interest have been shown to thrive.

Part one, ‘Black Gold’: London’s African Oil Hub, maps the London oil companies operating in Africa. It identifies:

How the UK government provides ongoing support for international fossil fuel exploration despite its domestic and international climate change commitments;
12 private and public limited oil and gas companies headquartered in London that have operations in Africa, all of which have ties to tax-havens in British overseas territories and crown dependencies;
The failure of international regulation to tackle issues regarding a lack of transparency for companies operating in unstable markets.

Part two, T aking AIM: London’s Wild West Stock Market, lifts the lid on London’s junior stock exchange, the Alternative Investment Market (AIM). It shows:

A history of scandals and company collapse on AIM, and a lack of public sanction and enforcement;
A “light touch” regulation system behind which companies are rarely named and shamed for abusing the system;
Fundamental problems with AIM’s regulators, known as nomads, that also act as company brokers and can have vested interests in the companies they oversee;
The potential for oil, gas, and mining companies to manipulate information about assets in politically unstable regions, and the obstacles to verification for investors.

…click on the above link to read the rest of the article…

WHO Prepares For “Worst Case” As Congo Ebola Outbreak Spreads

May 15, 2018

WHO Prepares For “Worst Case” As Congo Ebola Outbreak Spreads

In the week since we first noted the new outbreak of Ebola in the Democratic Republic of Congo, the number of cases has risen by 50%, and The World Health Organization has now said it is preparing for “the worst case scenario.”

The WHO has tallied 32 suspected or confirmed cases in the northwestern area of Bikoro, on the shores of Lake Tumbathe near the border with the Republic of Congo, including 18 deaths, between April 4 and May 9.

The outbreak, declared by the DRC health ministry on Tuesday, is the DRC’s ninth known outbreak of Ebola since 1976, when the deadly viral disease was first identified in then-Zaire by a Belgian-led team.

Scientists are greatly concerned that this outbreak in the remote Bikoro region will travel 175 miles to the city of Mbandaka – the capital of Equateur province and home to around 1.2 million residents.

View image on Twitter

✔

Replying to @HelenBranswell

We’ve updated this map. Turns out that the provincial capital of Equateur, Mbandaka, is home to roughly 1M people. It’s less than 300 km or 175 miles from Bikoro and reachable by water.

6:47 PM – May 11, 2018

What’s worrisome is that the most recent WHO update says that there are two probably cases at Wangata – which is very close to Mbandaka.

…click on the above link to read the rest of the article…

Top General Issues Urgent Warning Over US-China Collision Course in Africa

March 9, 2018

(ANTIMEDIA Op-ed) Djibouti — China is the rising world power. This much is clear, but nowhere is that reality felt more than behind closed doors in Washington, D.C. The global hegemony of the United States is being challenged, and the contest is perfectly encapsulated in what’s happening now in the small African nation of Djibouti.

Strategically located at the southern entrance to the Red Sea on the route to the Suez Canal, Djibouti is home to both U.S. and Chinese military bases, and the two are only miles apart. The U.S. base houses around 4,000 military personnel and is used as a launching pad for operations in Yemen and Somalia.

On Tuesday, Reuters highlighted how the situation at a key port in Djibouti has U.S. officials worrying over China’s growing reach:

“Last month, Djibouti ended its contract with Dubai’s DP World, one of the world’s biggest port operators, to run the Doraleh Container Terminal, citing failure to resolve a dispute that began in 2012.

“DP World called the move an illegal seizure of the terminal and said it had begun new arbitration proceedings before the London Court of International Arbitration.”

It also described the reaction in Washington at a session of the House of Representatives Armed Services Committee:

“During a U.S. congressional hearing on Tuesday, which was dominated by concerns about China’s role in Africa, lawmakers said they had seen reports that Djibouti seized control of the port to give it to China as a gift.”

Speaking before lawmakers, Marine General Thomas Waldhauser, the top U.S. commander in Africa, warned that the military’s ability to resupply and refuel ships would be greatly affected if China restricted access to the port:

“If the Chinese took over that port, then the consequences could be significant.”

…click on the above link to read the rest of the article…

Exposing Africa’s Manmade Water Crisis

February 21, 2018

Exposing Africa’s Manmade Water Crisis

The imminent shutdown of Cape Town’s piped water network should serve as a wake-up call for all of Africa to overhaul urban water-management systems. Unfortunately, like Africa’s water resources themselves, Cape Town’s crisis seems likely to be wasted.

About a decade ago, at a meeting of South African mayors convened by Lindiwe Hendricks, South Africa’s then-minister of water and environmental affairs, we predicted that an unprecedented water crisis would hit one of the country’s main cities within 15 years, unless water-management practices were improved significantly.

That prediction has now come true, with Cape Town facing a shutdown of its piped water network. The question now is whether African leaders will allow our other projection – that, within the next 25-30 years, many more of the continent’s cities will be facing similar crises – to materialize.

Africa has long struggled with urban water and wastewater management. As the continent’s population has swelled, from about 285 million in 1960 to nearly 1.3 billion today, and urbanization has progressed, the challenge has become increasingly acute. And these trends are set to intensify: by 2050, the continent’s total population is expected to exceed 2.5 billion, with 55% living in urban environments.

The challenge African countries face may not be unique, but it is, in some ways, unprecedented. After all, in Western countries, urbanization took place over a much longer period, and against a background of steadily improving economic conditions. In building effective systems for water and wastewater management, cities had adequate investment funds and the relevant expertise.

In Africa, cities’ financial and management capacities are already overwhelmed. As a result, water and wastewater management has often fallen by the wayside, with policymakers focusing on water-related issues only when droughts and floods occur. The Third World Centre for Water Management estimates that only about 10-12% of Africa’s population has access to adequate domestic and industrial wastewater collection, treatment, and disposal.

…click on the above link to read the rest of the article…

Pay Any Price, by Robert Gore

October 25, 2017

Pay Any Price, by Robert Gore

Empires get stupider and more corrupt as they age.

Why are US Green Berets, four of whom were recently killed, in Niger? Why does the US have at least 36 bases, outposts, and staging areas in Africa, located in 24 countries? Why does a website, TomDispatch, have to file a Freedom of Information Act request to get that information, which contradicts years of assurances from AFRICOM, the US’s African military command, that the US has only one base in Africa, in the Republic of Djibouti? Why is AFRICOM headquartered in Stuttgart, Germany? How does anything that happens in Niger, or most of the rest of Africa for that matter, affect anyone’s way of life in the US? Why do we say the dead were heroes protecting our way of life when the country where they died poses no threat?

From the AFRICOM website:

The United States and Niger have a long-standing bilateral relationship. Our militaries have been stalwart allies focused on working together to deter and to defeat terrorist threats in the West African nation and across the Sahel region.

A war on a tactic, terror, can provide the rationale for anything. Terror is ubiquitous, it can be fought anywhere. Anyone who uses or threatens to use violence in furtherance of political or economic ends can be deemed a terrorist. Any “terrorist” who yells, “Death to the United States!” can be deemed a threat to Americans. Terrorism will never be eradicated, so the war against it is perpetual. President George W. Bush even arrogated the right to wage that war preemptively, before terrorists actually struck the US or its citizens. And that’s how the US finds itself in Niger, its “long-standing” and “stalwart” ally that 999,999 out of a million Americans can’t find on an unlabeled map.

…click on the above link to read the rest of the article…

Plague is Starting in Africa

October 9, 2017

Plague is Starting in Africa

Panic has ensued in Madagascar where a recent outbreak of the plague has claimed the lives of at least 24 people. Prime Minister Olivier Mahafaly Solonandrasana has announced a ban on all public gatherings and demonstrations in effect until the outbreak can be contained.

The plague is a deadly disease caused by the Yersinia pestis bacteria. It usually begins as the bubonic plague, which is spread from small mammals (such as rats) and fleas to humans. If detected early, the bubonic plague can generally be treated and controlled with antibiotics and proper environmental measures. However, half of all reported cases in Madagascar are the pneumonic plague –- the deadliest form of the disease.

The pneumonic plague is transmitted person to person. Since this form of the plague is airborne, it spreads extremely rapidly and can have catastrophic consequences. Those who contract the pneumonic plague must be treated immediately as it can be fatal within less than 24 hours of onset.

Health officials in Madagascar are now rushing to identify anyone who has come into contact with those affected. According to the World Health Organization (WHO), those at risk will be treated with antibiotics and possibly quarantined.

Formerly known as the “Black Death,” this is the same plague that claimed the lives of 50 million Europeans during the Middle Ages. The disease first reached Europe in October 1347 and quickly turned into a contagion that destroyed nearly 1/3 of the population.

“Time To Panic”? Nigeria Begs World Bank For Massive Loan As Dollar Reserves Dry Up

January 31, 2016

“Time To Panic”? Nigeria Begs World Bank For Massive Loan As Dollar Reserves Dry Up

Having urged “don’t panic” just 4 short months ago, it appears Nigeria just did just that as the global dollar short squeeze forces the eight-month-old government of President Muhammadu Buhari to beg The World Bank and African Development Bank for $3.5bn in emergency loans to help fund a $15bn deficit in a budget heavy on public spending amid collapsing oil revenues. Just as we warned in December, the dollar shortage has arrived, perhaps now is time to panic after all.

In September, Nigerian central bank Governor Godwin Emefiele ruled out a naira devaluation on Thursday and told people not to panic about a government order which risks draining billions of dollars from the financial system.

In an interview with Reuters, Emefiele said he was ready to inject liquidity if needed into the interbank market, which dried up this week following the directive to government departments to move their funds from commercial banks into a “Treasury Single Account” (TSA) at the central bank.

The policy is part of new President Muhammadu Buhari’s drive to fight corruption, but analysts say it could suck up as much as 10 percent of banking sector deposits in Africa’s biggest economy – playing havoc with banks’ liquidity ratios.

With global oil prices tumbling, banks and companies are already struggling with the consequences of a dive in Nigeria’s energy revenues that has hit the naira currency and triggered flows of capital out of the country.

Then JP Morgan kicked Nigeria out of its influential Emerging Markets Bond Index last week due to restrictions that the central bank imposed on the currency market to support the naira and preserve its foreign exchange reserves.

Since taking office in May, Buhari has vowed to rein in Nigeria’s dependency on oil exports which account for 90 percent of foreign currency earnings.

…click on the above link to read the rest of the article…

GPM Global Forecast (01-18-16)

January 19, 2016

GPM Global Forecast (01-18-16)

Middle East Header

Iran Enters a New Era as Nuclear Sanctions are Lifted

Background

The United States and EU have lifted economic sanctions on Iran following confirmation from the United Nations that the country is following through on its obligations set out in last year’s nuclear accord.

Outlook

Implementation Day arrived earlier than many expected, probably because the Iranian government wanted to rush sanction relief ahead of February elections, which won’t just determine the next parliament but also the Assembly of Experts – the clerical body that might be called on to pick Iran’s Supreme Leader should Ayatollah Khamenei die or step down in the next eight years.

One immediate impact of sanction relief is an increase in global oil supply. Iran used to be OPEC’s second-largest producer, and although its energy infrastructure is aging and investment-starved after years of sanctions, the country expects to sell an additional 500,000 barrels a day right out of the gates. The lifting of sanctions caused an immediate plunge in the stock markets of oil-producing Gulf states, with Saudi Arabia seeing a drop of 5.4% and Qatar 7% in Sunday trading.

While EU companies will now be free to trade and invest in Iran, many US sanctions will remain in place beyond the full implementation of the deal. These pertain to Iran’s status as a state sponsor of terrorism and its human rights record. New sanctions are also a possibility following Iran’s recent ballistic missile tests. As a result, in the global rush to get a foothold in Iran’s untapped market of some 80 million people, US companies will be at a distinct legal disadvantage vis-à-vis their European and Asian competitors.

The nuclear deal and the future tone of US-Iran relations will feature prominently in the upcoming US presidential race, evident in Hilary Clinton’s declaration that she supports new sanctions against Iran mere hours after the deal was officially implemented.

…click on the above link to read the rest of the article…

UN says Ebola outbreak ‘not yet finished’

July 13, 2015

The worst recorded outbreak of Ebola has already killed more than 11,200 people across West Africa [AP]

Africa’s Ebola outbreak has not run its course and about 30 people are still getting infected each week, the United Nations’ special envoy for the deadly disease has said.

Under normal circumstances, such an infection rate would be considered “a major, major outbreak,” David Nabarro said on Monday.

“Probably about one third of these people are not coming from the contact list, which means they are surprise cases, and that’s a big worry,” Nabarro told a conference organised by the World Health Organization in Cape Town.

The worst recorded outbreak of Ebola has already killed more than 11,200 people across West Africa.

Infection rates are down from the peak of the crisis. But Liberia reported a 17-year-old boy tested positive for the virus on June 30 – almost two months after the country was declared free of Ebola.

Liberia, the country worst hit by the virus, had been hailed as an example for neighbouring Guinea and Sierra Leone, which are also struggling to stop the spread.

Source: Reuters

New age of water wars portends ‘bleak future’

March 28, 2015

New age of water wars portends ‘bleak future’

Behind the escalating violence in Iraq, Syria and Yemen, as well as the epidemic of civil unrest across the wider region, is a growing shortage of water.

New peer-reviewed research published by the American Water Works Association (AWWA) shows that water scarcity linked to climate change is now a global problem playing a direct role in aggravating major conflicts in the Middle East and North Africa.

Numerous cities in Latin America, Africa, the Middle East, North Africa and South Asia are facing “short and declining water supplies per capita,” which is impacting “worldwide” on food production, urban shortages, and even power generation.

In this month’s issue of the Journal of the AWWA, US water management expert Roger Patrick assesses the state of the scientific literature on water scarcity in all the world’s main regions, finding that local water shortages are now having “more globalised impacts”.

He highlights the examples of “political instability in the Middle East and the potential for the same in other countries” as illustrating the increasing “global interconnectedness” of water scarcity at local and regional levels.

In 2012, a US intelligence report based on a classified National Intelligence Estimate on water security, commissioned by then Secretary of State Hillary Clinton, concluded that after 2022, droughts, floods and freshwater depletion would increase the likelihood of water being used as a weapon or war, or a tool of terrorism.

The new study in the Journal of the AWWA, however, shows that the US intelligence community is still playing catch-up with facts on the ground. Countries like Iraq, Syria and Yemen, where US counter-terrorism operations are in full swing, are right now facing accelerating instability from terrorism due to the destabilising impacts of unprecedented water shortages.

…click on the above link to read the rest of the article…

Great War of the American Empire or Great War II

February 16, 2015

Great War of the American Empire or Great War II

Looking at a map of current American military engagements overseas, one cannot help but notice their wide geographical spread and their seemingly interminable nature. Battles have raged in Europe (Yugoslavia and Ukraine), in Africa, in the Middle East, and in central Asia. The American Empire has launched this country into a series of battles that have no end in sight and no location that may not become a focal point of military force. These battles, each a war in its own right, have drawn in forces and resources from U.S. allies in Europe through NATO and even drawn in Japan. The scope of this war is global. In fact, one part of this war has been called the Global War on Terror. To understand this war and grasp its meaning, in the hope of bringing it to an end, a descriptive name is needed that tells us what this war is about. The name suggested here is the “Great War of the American Empire”. Since World War I, another disastrous war that American joined, is called the Great War, we can refer to the Great War of the American Empire also as Great War II.

Great War II comprises a number of sub-wars. The American Empire is the common element and the most important driver in all the sub-wars mentioned below. American involvement has never been necessary in these sub-wars, but the decisions to make them America’s business have come from the Empire’s leaders. The name “Great War of the American Empire” emphasizes the continuity of all the sub-wars to produce one Great War, and the responsibility of the American Empire in choosing to participate in and create this Great War. Had America’s leaders chosen the radically different path of non-intervention and true defense of this continent, rather than overseas interventions, Great War II would not have occurred and not still be occurring.

…click on the above link to read the rest of the article…

Malawi faces ‘unprecedented’ flood disaster – Africa – Al Jazeera English

January 18, 2015

Malawi faces ‘unprecedented’ flood disaster – Africa – Al Jazeera English.

The waters may be receding and the rainfall subsiding but Malawi is only now coming to terms with the “unprecendented” floods that hit the southern half of the country last week.

At least 176 people lost their lives and another 200,000 have been displaced when heavy rains submerged homes, schools, and in places, washing away an entire village.

The Malawi Defence Force has reportedly rescued at least 4,000 people, but there are fears that many more still need help. At least 153 people are unaccounted for.

“It has shocked all of us: from government, to donors to the people,” Robert Kisyula, national director of international NGO World Vision Malawi, told Al Jazeera on Saturday. “People hung on to trees,waiting for the waters to subside, as they usualy do, but water kept on coming and they were washed away.

“These were unprecedented floods, don’t let anyone you otherwise,” he said.

…click on the above link to read the rest of the article…

Louis Freeh’s Latest Investigation: Billionaire Businessman Accused of Bribing African Government – The Intercept

January 2, 2015

Louis Freeh’s Latest Investigation: Billionaire Businessman Accused of Bribing African Government – The Intercept.

Louis Freeh, the former FBI director whose wife was deeded half of a $3 million beachside penthouse by a businessman–just nine days after Freeh cleared that same businessman of wrongdoing–is onto a new job: Helping exonerate a billionaire businessman accused of bribing an African government.

As I reported here the other day, Freeh has made piles of money since leaving government service by hiring himself out to conduct allegedly independent corporate and political investigations. These investigations are clearly a growth business, because now Freeh’s firm is helping coordinate the defense of an Israeli billionaire who is being investigated on three continents in regard to bribes he allegedly paid to win a mining stake in one of the world’s poorest countries.

The case involves Israeli billionaire Beny Steinmetz, who controls BSGR, a holding company that in 2008 obtained a huge stake in a gigantic iron mine in the West African nation of Guinea. BSGR reportedly paid nothing for its rights to Simandou and two years later flipped 51% of its stake to a Brazilian mining giant for $2.5 billion – twice the size of Guinea’s annual budget. The deal was consummated two weeks before the death of Lansana Conté, a homicidal dictator who had ruled since a 1984 coup.

…click on the above link to read the rest of the article…

BBC News – First Ebola boy likely infected by playing with bats

December 30, 2014

BBC News – First Ebola boy likely infected by playing with bats.

The Ebola victim who is believed to have triggered the current outbreak – a two-year-old boy called Emile Ouamouno from Guinea – may have been infected by playing in a hollow tree housing a colony of bats, say scientists.

They made the connection on an expedition to the boy’s village, Meliandou.

They took samples and chatted to locals to find out more about Ebola’s source.

The team’s findings are published in EMBO Molecular Medicine.

Ebola trail

Meliandou is a small village of 31 houses.

It sits deep within the Guinean forest region, surrounded by towering reeds and oil palm cultivations – these are believed to have attracted the fruit bats carrying the virus passed on to Emile.

During their four-week field trip in April 2014, Dr Fabian Leendertz and colleagues found a large tree stump situated about 50m from Emile’s home.

Villagers reported that children used to play frequently in the hollow tree.

Emile – who died of Ebola in December 2013 – used to play there, according to his friends.

…click on the above link to read the rest of the article…

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