The rouble was little changed against major currencies on Saturday with low liquidity and activity on what was an official working day in Russia ahead of a series of public holidays in May. Trading activity was subdued and most international markets were closed due to the weekend. The upcoming May holidays in Russia are expected to bring volatility risks for the rouble.
Hamas said Saturday it was reviewing a new Israeli proposal for a cease-fire in Gaza, as Egypt intensified efforts to broker a deal to end the months-long war and stave off a possible Israeli ground offensive into the southern Gaza city of Rafah. Senior Hamas official Khalil al-Hayya said the Palestinian militant group was evaluating Israel’s proposal, and “upon completion of its study, it will submit its response.” Negotiations earlier this month centered on a six-week cease-fire proposal and the release of 40 civilian and sick hostages in exchange for freeing hundreds of Palestinian prisoners in Israeli jails.
At the time, Nelson Mandela became the country’s first Black president, after the decision was made to unban the African National Congress Party. It came just four years after Mandela was still in prison for attempting to overthrow the apartheid system, where he remained president until 1999, when he decided to retire from politics. The party is being blamed for the lack of progress, and high unemployment rates for young, Black Africans.