International News 23 October 2025
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Coca-Cola HBC Acquires 75% Stake in African Bottler CCBA for $2.6 Billion
Swiss-based Coca-Cola HBC has agreed to acquire a 75% stake in Coca-Cola Beverages Africa (CCBA) for US$2.6 billion, valuing the African bottler at US$3.4 billion. The deal includes purchasing around 42% of CCBA from The Coca-Cola Company (U.S.) and the entire stake held by Gutsche Family Investments, making Coca-Cola HBC the second-largest Coca-Cola bottler globally by volume. The acquisition expands HBC’s footprint into 14 new African markets with high growth potential, driven by young consumers. To reflect its growing African presence, the company plans a secondary listing on the Johannesburg Stock Exchange and will pause its share buyback program. Following the acquisition, Coca-Cola HBC will have the option to buy the remaining 25% stake in CCBA from Coca-Cola within six years, potentially gaining full ownership. CCBA currently accounts for 40% of Coca-Cola’s sales volume in Africa, producing brands like Fanta, Sprite, and Monster. Despite a slowdown in organic revenue growth to 5% in Q3 2025 (from 13.9% a year earlier), Coca-Cola HBC remains upbeat, expecting full-year organic revenue growth at the upper end of its 6–8% target range in 2025, supported by strategic price adjustments and expanding market reach.
Gold Suffers Sharpest Daily Drop in Five Years After Record High
Gold prices plunged on Tuesday (Oct 21, 2025), marking their steepest one-day decline since August 2020, as investors took profits following a record rally driven by safe-haven demand and expectations of U.S. rate cuts. Spot gold slumped 5.2% to US$4,125.22 per ounce, its lowest in a week, while December futures tumbled 5.7% to US$4,109.10. The metal had surged to an all-time high of US$4,381.21 just a day earlier and remains up around 60% year-to-date, fueled by geopolitical uncertainty, central bank buying, and speculation of monetary easing. Analysts said the sell-off reflected short-term caution amid heightened volatility. A 0.4% rise in the U.S. dollar index added further pressure, making gold more expensive for non-dollar holders. Citi analysts noted that a potential end to the ongoing U.S. government shutdown and a U.S.–China trade deal could trigger a short-term consolidation in gold over the next few weeks. Meanwhile, silver prices plunged 9% to US$48.71, dragging other precious metals lower. Traders now await Friday’s U.S. CPI data, expected to show a 3.1% annual increase, as markets widely anticipate a 25 basis point rate cut by the Federal Reserve next week.
Malaysia Sees CPO Prices Staying Above RM 4,400 Through 2026
The Malaysian Palm Oil Council (MPOC) expects crude palm oil (CPO) prices to remain above RM 4,400 (around US$1,042) per ton heading into 2026, supported by strong biodiesel demand and tight export supply. The outlook is buoyed by shrinking soybean oil output from Argentina and growing concerns over Indonesia’s B50 biodiesel mandate, which could curb export availability. However, MPOC cautioned that market sentiment remains fragile amid weaker crude oil prices, high vegetable oil inventories in major markets like China and India, and ongoing U.S.–China trade tensions that have led to soybean stockpiling globally. According to MPOC, U.S. soybean stocks have risen since the start of the harvest season as China halted U.S. imports in May, shifting to South American suppliers. Although domestic soybean processing and biofuel consumption in the U.S. are expected to increase under the Biofuel 45Z policy in 2026, this growth won’t fully offset the export decline. Meanwhile, global vegetable oil demand next season will hinge on sunflower oil supply, as exportable soybean oil from the U.S. and Brazil is projected to drop 41% to 1.6 million tons. Notably, CPO has regained its price premium over soybean oil, trading US$42 per ton higher in Europe and US$26 higher in India as of mid-October 2025.