South African Rand and Bonds Roiled By New Covid Variant Omicron

The new Covid-19 Variant WHO has named Omicron wrecked world markets Friday with South African markets understandably the epicenter. Early PCR test results showed that 90% of 1,100 new cases reported Wednesday in the South African province that includes Johannesburg were caused by the new variant. Many countries have closed their borders to South Africa as a result. Financial Markets Rocked by Omicron The South African rand this week sank 3.4%, increasing 2021 losses to 9.8%. South African 10-year yields … Continue reading “South African Rand and Bonds Roiled By New Covid Variant Omicron”

Omicron’s Unusual Genetic Profile and Speed of Spread Concern Scientists

The new B.1.1.529 variant now known as Omicron has scientists concerned for two primary reasons. The first is epidemiological and rand the speed it is spreading. The second is its highly unusual genetic profile with ‘an unprecedented sampling’ of mutations. There are other genetic changes that have not been seen before, whose significance is as yet unknown. WHO recognized the new Covid strain as a variant of concern Friday. omicron Omicron is the 15th letter of the Greek alphabet Omicron … Continue reading “Omicron’s Unusual Genetic Profile and Speed of Spread Concern Scientists”

WHO Names New COVID Variant of Concern ‘Omicron’

The World Health Organization (WHO) recognized the new Covid strain, first referred to as lineage B.1.1.529 and now named omicron, as a variant of concern. WHO said it will take weeks to understand how the variant may affect diagnostics, therapeutics and vaccines. News of the South African variant sent shockwaves throughout financial markets in thin post Thanksgiving Day trade. Oil fell over 10% on the news with fear of economy’s shutting down again. omicron Omicron is the 15th letter of … Continue reading “WHO Names New COVID Variant of Concern ‘Omicron’”

Nigeria First African Country to Launch Own Digital Currency, eNaira

Central Bank of Nigeria (CBN) Governor Godwin Emefiele says will its launch digital currency eNaira in a couple of days. The move followed Nigeria banning banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February this year.

Aluminum Prices Soar to Ten Year Highs After Guinea Coup Strangles Bauxite Supplies

Aluminum futures prices soared to their highest in more than a decade after a coup in Guinea fueled concerns over Bauxite feedstock supplies. China gets half of it’s supplies from Guinea and is already struggling with output.