NAIROBI (Reuters) -Kenya wants its next International Monetary Fund programme to be a funded one, its central bank governor said on Wednesday, ahead of an IMF visit next month to discuss a new programme request. In March, Kenya and the IMF abandoned the final review of the East African nation’s last support programme, and Kenya …
Kenya wants a funded IMF programme, central bank governor says Read More »
WINDHOEK (Reuters) -Namibia’s central bank left its main interest rate unchanged for a third straight policy meeting on Wednesday, and said it wanted to safeguard the peg between the local currency and the South African rand while supporting the domestic economy. Neighbouring South Africa, whose economy is closely interlinked with Namibia’s, reduced its rate by …
Namibia central bank holds interest rates steady to support economy, rand peg Read More »
CAIRO (Reuters) -Egypt has signed a deal with China’s Sailun Group to build an automotive tyre factory in the Suez Canal Economic Zone, with total investments of $1 billion, a cabinet statement said on Wednesday. The facility will take three years to complete and will eventually produce 10 million tyres annually, the statement said. The …
Egypt signs $1 billion deal with China’s Sailun group for tyre factory, cabinet says Read More »
By Naomi Rovnick and Chibuike Oguh NEW YORK/LONDON (Reuters) -World shares hit record highs on Tuesday after U.S. consumer prices data fueled expectations of an impending Federal Reserve interest rate cut in September, and a trade war truce between Washington and Beijing also buoyed sentiment. On Wall Street, the benchmark S&P 500 and the Nasdaq …
By Sfundo Parakozov JOHANNESBURG (Reuters) -JPMorgan said on Tuesday the recently imposed 30% U.S. tariffs on South African exports are expected to have a limited effect on the country’s assets, as markets have “largely priced in the reality of higher tariff headwinds”. South African exports to the U.S. were hit with a 30% tariff last …
JPMorgan says US tariffs will have limited impact on South Africa’s assets Read More »
By George Obulutsa NAIROBI (Reuters) -Kenya’s central bank lowered its benchmark lending rate by 25 basis points on Tuesday, saying there was room to ease monetary policy further as inflation remains well within target. The Central Bank of Kenya (CBK) cut its policy rate to 9.50% from 9.75% previously, the seventh cut in a row. …
Kenya central bank cuts rates for seventh time with inflation in target Read More »
(Reuters) -De Beers’ joint venture in Angola has discovered a new kimberlite field, the most common source of mined diamonds, it said on Tuesday, its first such discovery in three decades. The Anglo American unit is jointly exploring for diamonds in Angola in partnership with the country’s state-owned diamond company Endiama. De Beers said in …
De Beers announces kimberlite field discovery in Angola Read More »
By Anathi Madubela PRETORIA (Reuters) -South Africa’s unemployment rate rose for the second quarter in a row, official data showed on Tuesday, highlighting one of the biggest challenges faced by the country’s year-old coalition government. The official unemployment rate stood at 33.2% in April-June, up from 32.9% in January-March, one of the highest rates worldwide. …
South African jobless rate rises, highlighting coalition challenge Read More »
PARIS (Reuters) -French mining group Eramet has appointed an executive to oversee mineral processing in Gabon, the company said on Tuesday, as the West African country seeks to end exports of unrefined manganese and boost local processing. Gabon’s government announced at the end of May that it would ban the export of raw manganese from …
Eramet names processing head in Gabon with eye on manganese ore export ban Read More »
(Reuters) -South African petrochemicals company Sasol expects a rebound in full-year profitability on the back of higher chemicals prices, tighter cost controls and lower asset writedowns, it said on Tuesday. Sasol, which produces fuel and chemicals from coal and gas, expects earnings per share between 7 rand and 12 rand ($0.3954-$0.6779) for the year to …
Sasol expects profit rebound on higher chemical prices and lower impairments Read More »
