China's yuan has fully recovered from 2016 and analysts say there's still room to run

At its strongest level on Tuesday, the yuan was changing hands at 6.5151 against the U.S. dollar, pushing gains to more than 6 percent this year, according to Reuters data. The currency's appreciation had quickened its pace in August, marking its best month in 2017.
The yuan has strengthened much faster than expected, and it's even bucked the trend. While other Asian currencies have been falling in the face of rising political tensions between the U.S. and North Korea, the Chinese yuan has actually continued appreciating. Experts say the central bank has succeeded in demonstrating it can withstand downward pressure on the currency by tightening capital controls and with foreign exchange intervention.

Nigeria and South Africa both come out of recession

Nigeria and South Africa, two of Africa's richest countries, are no longer in recession as the economies of both grew in the last quarter.

Nigeria had experienced a long period in the doldrums with five consecutive quarters when the economy shrank.
But with annual GDP growth at less than 0.6%, Nigeria's emergence from recession is slow.
South Africa is still facing big economic challenges despite recording a more healthy 2.5% growth figure.

Lesotho army chief Khoantle Motsomotso shot dead

The head of Lesotho's army, Lt Gen Khoantle Motsomotso, and two other senior officers have been killed in a shootout at a barracks in the capital, Maseru.

Eyewitnesses said the officers burst into the army chief's office and shot him before being killed by guards.
Prime Minister Thomas Thabane has said the situation is now under control and has urged people to remain calm.

LAGOS: Nigeria emerges from first recession in 25 years

Source: PUNCH NIGERIA, September 5, 2017

The nation’s economy has snapped out of its first recession in 25 years as Gross Domestic Product has returned to positive growth.
The National Bureau of Statistics on Tuesday said the GDP grew by 0.55 per cent (year-on-year) in real terms in the second quarter of 2017.
The GDP shrank by 0.52 per cent (year-on-year) in real terms in the first quarter of 2017, representing the fifth consecutive quarter of contraction since the first quarter of 2016.

U.S. crude rises on returning refineries; gasoline slumps to pre-Harvey levels

 Source: REUTERS, September 5, 2017

NEWYORK: U.S. oil prices rose on Tuesday as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for crude, their main feedstock.

The return of many U.S. refineries also ended a spike in gasoline prices, as initial fears of a serious supply crunch faded.

U.S. West Texas Intermediate (WTI) crude futures Clc1 were at $47.55 barrel at 0656 GMT, up 26 cents, or 0.55 percent, from their last settlement.

SEOUL: South Korea, U.S. plan more drills after North Korea nuclear test rattles globe

Source: REUTERS September 4, 2017

South Korea said on Monday it was preparing fresh military drills with its ally the United States and ramping up its ballistic missile defenses in response to North Korea’s sixth and most powerful nuclear test a day earlier.

The United Nations Security Council was set to meet later on Monday to discuss fresh sanctions against the isolated regime. U.S. President Donald Trump had also asked to be briefed on all available military options, according to his defense chief.

BREAKING: Somalia seeks US help over 'al-Shabab uranium mining'

Source: BBC September 4, 2017.

Somalia's government has made a startling request for "immediate military assistance" to prevent Islamist militants al-Shabab from supplying uranium to Iran.
In a letter, Foreign Minister Yusuf Garaad says the militants have captured a region with uranium deposits and have been strip mining the components.