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
EU Enlargement Commissioner Johannes Hahn was quoted Nov. 6 as telling German daily Die Welt: “I think that, in the long term, it would be more honest for Turkey and the EU to go down new roads and end the accession talks.” Source: Hürriyet Daily News
Chinese Prime Minister Li Keqiang on Wednesday said Beijing and countries with stakes in the South China Sea are closer than ever before to a “code of conduct” for the strategic thoroughfare. Source: Deutsche Welle
Downing Street has confirmed that a draft Brexit agreement has been reached between the UK and European Union. British Prime Minister Theresa May will present it to her senior ministers on Wednesday, but it is unclear if May will be able to get any deal approved by UK parliament. Source: Euronews
