Massive declines in the agricultural, transport and retail sectors have dragged the South African economy into recession after nearly a decade of growth. It is a huge blow to President Ramaphosa’s controversial reforms. GDP in the second quarter contracted by 0.7 percent compared to the first three months of the current year. South African national currency, the rand, extended declines against the US dollar to more than two percent as government bonds fell after the released data. Source RT
Dutch nationalist newcomer party, Forum voor Democratie, became the largest party in the provincial elections on Wednesday.
The result also showed that the current Dutch government loses its majority in the senate.
Misunderstandings over China’s Belt and Road Initiative (BRI) are “hard to avoid”, a senior Chinese diplomat said on Wednesday ahead of a trip to Europe by President Xi Jinping during which Italy is set to join the multi-billion dollar trade scheme. Source: Reuters
On Tuesday, volunteers onboard the Mare Jonio “rescued” about 50 people from a rubber boat off the coast of Libya, prompting Italy’s interior minister, Matteo Salvini, to say he was ready to stop private vessels “once and for all” from bringing rescued people to Italy. Source: The Guardian
