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South Sudan's Olympic basketball team receives heroes' welcome at home

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South Sudan's Olympic basketball team receives heroes' welcome at home

2024-08-10 10:45 Last Updated At:11:07

South Sudan's men's basketball team have received a heroes' welcome in the country's capital Juba after returning from France.

The team made history by beating Puerto Rico 90 points to 79 in their first-ever Olympics, and put up a spirited performance against the tournament favorites, the United States.

With the defeat to the U.S. and Serbia, they ultimately bowed out in the group stage. But that didn't stop the Bright Stars becoming a source of joy for the world's youngest nation.

Many residents in Juba have decided to be off from work, and have come in large numbers to welcome the team that has returned from the Paris Olympics.

As players get out of the plane in Juba, thousands of supporters are awaiting their Olympic basketball stars.

"I came at six o'clock in the morning. I am very happy, I have been waiting, and now the team has arrived. I want them to stay for a week or two with us before they return to their respective clubs," said James Magok, a resident.

"The basketballers are back in town and we are so proud of them. Though they did not make it to the last stage, we are so grateful that they managed to represent us at the global stage and put our name on the map," said Arek Abraham, South Sudan's candidate for the 71st Miss World beauty pageant.

From Juba Airport, the team drove across the city then headed to the basketball stadium.

South Sudan's government says the impact of the basketball team goes beyond sport.

"Let me tell you this, you have turned the trend of what is happening in our country, now the young people, the youth that I am responsible for, you have changed them and you have united them," said Rebecca Nyandeng, Vice President of South Sudan.

South Sudan basketball players say what keeps them going is the unwavering support they get from fans at home.

The next competition for the Bright Stars is Afro Basketball in November where the team will meet Mozambique, Mali and the Democratic Republic of Congo.

South Sudan's Olympic basketball team receives heroes' welcome at home

South Sudan's Olympic basketball team receives heroes' welcome at home

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ECB cuts interest rates by 25 basis points

2025-03-07 03:04 Last Updated At:03:17

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points

ECB cuts interest rates by 25 basis points

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