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  • The Battle Ahead: What Role For The U.S. Dollar?

    Fed Chair Janet Yellen reiterated before Congress yesterday that the Federal Reserve will most likely raise its policy rate three times this year.

    The immediate result of this testimony was a rise in yields in the US Treasury market and an increase in the value of the US dollar.
    The value of the United States dollar may turn out to be the fulcrum upon which the whole Trump economic policy and the future of the global monetary system turns.

    As I wrote earlier in January, the battle for the place of the US dollar was started by Fed Chair Janet Yellen as Ms. Yellen moved early to confirm the Fed's independence to set monetary policy.  Read more here

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  • Somalia's al Shabaab kill four in hotel attack in Puntland region: official

    Somalia's al Shabaab militants stormed a hotel in the capital of the semi-autonomous Puntland region, Bosasso, on Wednesday, killing four guards, while two of the attackers also died, a senior official said.

    "Three al Shabaab fighters stormed the International Village Hotel this morning. Four guards and two of the attackers died in the fighting," Yusuf Mohamed, the governor of Bari region, told Reuters.

    The hotel in the port city of Bosasso, which is also the capital of Bari region, is popular with foreigners.

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  • Amina Mohamed urges re-evaluation of Kenya's neighbours over her loss at AU polls

    Foreign Affairs CS Amina Mohamed now wants Kenya’s neighbours re-evaluated for abandoning her during polls to pick the AU Commission chairman in Addis Ababa.

    The re-evaluation, she says, should establish why Kenya’s neighbours, whom she did not name, decamped to vote for other candidates in the Monday election.

    In the first press conference since she lost to Chadian foreign minister Moussa Faki Mahamat, Ms Mohamed on Tuesday said some of the pledges made by the unnamed neighbouring countries were “deceptive.”

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  • Fear of Xenophobic Violence in Pretoria

    A pamphlet circulating in Mamelodi, South Africa, calling for a march against foreign nationals has triggered fears of a new outbreak of xenophobic violence.

    The circular, signed by “Mamelodi concerned residence” and calling for a march in February, has also had a share of rounds on social media“We have to start packing our bags. We can’t risk it.

    This time around they may not leave any of us alive. Why do they hate us so much? Is South Africa the first country to have immigrants? We are all Africans. We need each other as Africans,” said Mebo, a Zimbabwean immigrant living in Mamelodi.

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  • Former Norway PM held at Washington airport over 2014 visit to Iran

    A former prime minister of Norway has spoken of his shock after he was held and questioned at Washington Dulles airport because of a visit to Iran three years ago.

    Kjell Magne Bondevik, who served as prime minister of Norway from 1997-2000 and 2001-05, flew into the US from Europe on Tuesday afternoon to attend this week’s National Prayer Breakfast.

    He was held for an hour after customs agents saw in his diplomatic passport that he had been to Iran in 2014. Bondevik said his passport also clearly indicated that he was the former PM of Norway.

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  • Five Ugandans Arrested Over President Museveni’s son Presidential posters

    Kampala — Five youth are being held at Kampala Central Police Station (CPS) for printing posters that depict President Museveni’s son, Maj Gen Muhoozi Kainerugaba, as 2021 presidential candidate.

    Kampala Metropolitan police spokesperson Emilian Kayima said the five youth were arrested on Monday morning in possession of posters and press releases explaining how Maj Gen Muhoozi is the eligible presidential candidate in 2021 .

    “We arrested the five youth at Kolping Hotel in Makerere. They had posters and press releases. We were tipped off by our intelligence people and we arrested the youth on site,” he said.

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