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.

US President Donald Trump has dismissed an Iranian ceasefire proposal aimed at reopening the Strait of Hormuz, according to sources. Trump reportedly doubts Iran’s commitment to US demands, which include halting nuclear ambitions and ensuring maritime safety. Potential renewed conflict could follow the US midterm elections in November.

A Congolese army plane crashed in Kenge, Kwango province, on Friday, killing at least 14 people, including senior military officials and civilians. The aircraft lost power while en route to Kinshasa from Kikwit, resulting in the tragedy as it crashed into a residential area. An investigation is underway.

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