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Mugabe donates $1 million to African Union
Zimbabwean President Robert Mugabe said on Monday he was donating $1 million to the African Union (AU), hoping to set an example for African countries to finance AU programs and wean it off funding from outside donors. For years, about 60 percent of AU spending has been financed by donors including the European Union, World Bank and governments of wealthy non-African countries. Mugabe, who has held power in Zimbabwe since independence from Britain in 1980, has said reliance on foreign funds allows big powers to interfere in the work of the AU.
GM, Ford US sales down, but Japanese automakers report gains
DETROIT (AP) — U.S. sales at General Motors and Ford each fell about 5 percent last month, but the three largest Japanese automakers reported sales increases.
Philippines: Marawi hostages forced to loot cash, guns, gold
MANILA, Philippines (AP) — The Philippine military said Monday that militants aligned with the Islamic State group who seized parts of a southern city forced hostages to loot millions in cash, firearms, ammunition, gold and jewelry from houses and business establishments.
US stocks open holiday week on upbeat note
Wall Street opened the holiday-shortened week on an upbeat note on Monday, as investors awaited a pair of economic data releases as well as monthly car sales. About 10 minutes into trading on the day before the July 4 holiday, the Dow Jones Industrial average jumped nearly 0.6 percent to 21,467.77, while the broad-based S&P 500 was up 0.5 percent to 2,435.96. "It's shaping up to be a firecracker start for the equity market on this first -- and abbreviated -- trading day of July," Briefing.com analyst Patrick O'Hare said in a commentary.
Why has Iran's investment gold rush been so slow to emerge?
When Iran signed its landmark deal with world powers in 2015, curbing its nuclear programme in exchange for sanctions relief, many expected an investment gold rush. French car firm PSA was quick off the block, signing a 400-million-euro deal in June 2016 to build Peugeot vehicles with Iranian carmaker Khodro, and a 300-million-euro agreement in October to build Citroens with Iran's SAIPA. Hotel group Accor says it is working on 10 to 15 projects in Iran, hoping to capitalise on the tourism boom since the nuclear deal.
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