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Rising market currencies and shares are beneath mounting strain this week as a result of ongoing lockdowns in China. The South African rand fell once more on Tuesday as traders are apprehensive concerning the impression {that a} slowing Chinese language economic system may have on the demand for African uncooked supplies. These issues additionally prolonged to rising market equities because the MSCI Index fell for a fourth consecutive session this week. (REUTERS)
The world’s largest electrical car battery maker, Modern Amperex Expertise (CATL), is struggling to make sure that its huge factories in jap China stay open in the course of the lockdowns that at the moment are spreading all through the nation. That is particularly vital for nations just like the DRC and South Africa that promote billions of {dollars} value of cobalt and different sources to CATL every year. The corporate is now implementing a so-called “closed-loop administration system” the place staff dwell on the manufacturing facility to keep away from exterior an infection. (AUTOMOTIVE NEWS)
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