Reuters Africa Business

Impala Platinum restarts South African mines after deadly accident

JOHANNESBURG (Reuters) -Impala Platinum said Thursday it is restarting mines that had been halted for two days after an accident at one of its shafts resulted in the deaths of 12 workers. Mining operations at platinum mines in Rustenburg – in South Africa’s North West province – would be gradually ramped up to full production …

Impala Platinum restarts South African mines after deadly accident Read More »

South African rand strengthens ahead of PPI, trade balance data

JOHANNESBURG (Reuters) – The South African rand strengthened in early trade on Thursday ahead of a slew of local data that could provide clues on the health of Africa’s most industrialised economy. At 0621 GMT, the rand traded at 18.7000 against the dollar, about 0.3% stronger than its previous close. The dollar last traded around …

South African rand strengthens ahead of PPI, trade balance data Read More »

South African retailer SPAR annual profit slumps, withholds dividend

JOHANNESBURG (Reuters) -South African grocery retailer and wholesaler SPAR Group reported a 47% slump in annual operating profit due to a failed IT system, impairments and lower-than-expected sales growth, and said it would not declare a final dividend. SPAR, which also operates in Switzerland and parts of the UK, said on Thursday that group operating …

South African retailer SPAR annual profit slumps, withholds dividend Read More »

Asia stocks close strongest month since January on upbeat outlook

By Kane Wu HONG KONG (Reuters) -Asian stocks rose on Thursday to clock their strongest performance in 10 months, as investor sentiment warmed on a relatively benign global interest rates outlook and signs of economic recovery. Europe and Wall Street are also set to open higher with FTSE futures and E-mini futures for the S&P …

Asia stocks close strongest month since January on upbeat outlook Read More »

Treasury yields fall on data, rate cut expectations; dollar gains

By SinĂ©ad Carew and Tom Wilson NEW YORK/LONDON (Reuters) -Treasury yields fell on Wednesday while the dollar gained and MSCI’s global stock index barely rose as U.S. Federal Reserve officials provided mixed messages on monetary policy while third-quarter data provided encouraging signs for the economy. In U.S. equities, the S&P 500 edged lower and Nasdaq …

Treasury yields fall on data, rate cut expectations; dollar gains Read More »

Dollar rises from 3-1/2-month low; rate cut bets intact

By Gertrude Chavez-Dreyfuss and Herbert Lash NEW YORK (Reuters) – The dollar climbed from more than three-month lows on Wednesday after data showing the U.S. economy grew faster in the third quarter than initially reported helped investors consolidate positions following four days of losses. The greenback rose against the euro and an index of six …

Dollar rises from 3-1/2-month low; rate cut bets intact Read More »

South Africa smartphone shipments grow 73% as Chinese manufacturers push products

JOHANNESBURG (Reuters) – Smartphone shipments in South Africa grew 73% year-on-year in the third quarter and were up 44% from the previous three months as major Chinese manufacturers pushed their presence in the continent’s most advanced economy, Counterpoint Research said. Although Chinese manufactures are eyeing Middle East and Africa (MEA) markets more broadly, Counterpoint said …

South Africa smartphone shipments grow 73% as Chinese manufacturers push products Read More »

Africa’s economic growth to slow in 2023, AfDB says as it slashes forecasts

By Rachel Savage JOHANNESBURG (Reuters) – Africa’s economic growth will slow this year and only partially recover in 2024, the African Development Bank (AfDB) said on Wednesday as it slashed its GDP forecasts for the continent amid political instability, weak global growth and high interest rates. Real GDP growth is set to fall to 3.4% …

Africa’s economic growth to slow in 2023, AfDB says as it slashes forecasts Read More »

Close Bitnami banner
Bitnami