UK Economy Grows 0.4% in July, Beating Forecasts 
UK Wage Growth Slows as BoE Rate Decision Looms 
Oil Prices Surge as Houthi Attacks Raise Saudi Supply Fears 
Saudi Oil Exports Face 4% Global Supply Threat as Pipeline Remains Shut 
Central Banks Could Buy 20,000 Tonnes of Gold: BofA 
Global Central Banks Brace for More Rate Hikes as Inflation Risks Rise 
Goldman Sachs Forecasts Fed Rate Hike as Inflation Risks Rise 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
German 2-Year Yield Hits 2023 High as Rate Hike Bets Rise 
Gold Prices Steady as Oil Disruptions Boost Fed Rate Hike Bets 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
Oil Prices Surge as Houthi Attacks Deepen Hormuz Supply Fears 
Asian Stocks Fall as AI Fears and Oil Surge Hit Markets 
Hormuz Vessel Traffic Drops to Single Digits 
Dollar Rises as Fed Hike Bets Weigh on Asian Currencies 
Japanese Yen Retreats as Dollar Rises Ahead of Fed, BOJ Rate Decisions 
EUR/USD Eyes 1.17 as Fed Decision Could Weigh on Dollar 
Add as a preferred source on Google
South Africa will build a space infrastructure hub for $180 million to be self-reliant on satellite-sourced information and reduce the time for collecting data, president Cyril Ramaphosa revealed.
Ramaphosa announced the plan during the inaugural Sustainable Infrastructure Development Symposium South Africa on Tuesday.
The president added that the information would be used to develop products and services responsive to South Africa's socio-economic and infrastructure needs.
The hub would allow the development of satellite infrastructure, earth observation satellites, and satellite-based augmentation systems.
It is among the five infrastructure projects outlined by Ramaphosa, including broadband, a new city, citrus farm, and crocodile water augmentation, which has won backing from development finance institutions.
Emphasizing the need to break ground as soon as possible, Ramaphosa said that the country had placed infrastructure at the center of its recovery efforts.
The investment will support around 4,695 jobs per year, with 1,946 through direct employment opportunities, 675 jobs along the value chain, and 2,250 jobs through the spending of the wages.
