World News

China’s central bank increased its gold reserves by 23 tonnes in September, the largest monthly acquisition since October 2023, bringing total holdings to approximately 2,410 tonnes. This move aims to reduce reliance on US dollar assets amid rising geopolitical and financial risks, with private demand for gold also soaring as households seek secure savings options.

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Zimbabwe’s government is actively promoting the ZiG currency to reduce reliance on the US dollar, despite widespread scepticism stemming from past currency crises. The Reserve Bank of Zimbabwe claims the ZiG is backed by reserves, yet many citizens remain hesitant to trust its stability for savings and transactions.

The United States-led Board of Peace has announced that the United Nations Relief and Works Agency (UNRWA) will have no role in Gaza, citing concerns about reliability. This decision aligns with longstanding Israeli demands to marginalise the organisation, which provides essential support to millions of Palestinians.

Germany’s Foreign Minister Johann Wadephul met with Russian counterpart Sergey Lavrov during the UN General Assembly to discuss escalating tensions and strained diplomatic relations since Russia’s 2022 invasion of Ukraine. Wadephul urged collaboration on grain exports, while Lavrov rejected calls to cease escalating actions with Europe.

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