Reuters Africa Business

JOHANNESBURG (Reuters) -South Africa’s commodity-backed currency was steady on Thursday, supported by higher gold prices as investors fled to the safe-haven metal after steep tariffs imposed by U.S. President Donald Trump took effect. At 1527 GMT the rand traded at 17.7850 against the dollar, a whisker away from Wednesday’s close. U.S. imports from South Africa …

South Africa rand buoyed by stronger gold prices as US tariffs kick in Read More »

By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 1% to an eight-week low on Wednesday after U.S. President Donald Trump’s remarks about progress in talks with Moscow created uncertainty on whether the U.S. would impose new sanctions on Russia. Brent crude futures fell 75 cents, or 1.1%, to settle at $66.89 a barrel, …

Oil prices slide to 8-week low as US-Russia talks stir sanction uncertainty Read More »

By Karen Brettell NEW YORK (Reuters) -The dollar dropped on Wednesday and the euro hit a one-week high as traders bet that the Federal Reserve will cut rates more times than previously expected this year, following weaker than expected jobs data for July. With no major U.S. economic releases on Wednesday traders continued to focus …

Dollar falls as traders bet on more rate cuts Read More »

By Isaac Anyaogu LAGOS (Reuters) -A Nigerian receiver has been appointed by lenders to KEPCO Energy Resources and its subsidiary, Egbin Power, two major players in the power sector, adding to worries about the industry’s financial health, a notice in local media said. KEPCO owns 70% of Egbin Power, Nigeria’s biggest electricity generator. The news …

Lenders appoint receiver for major Nigerian power firms, notice shows Read More »

By Nicole Jao NEW YORK (Reuters) -Oil prices slipped on Tuesday as rising OPEC+ supply and worries of weaker global demand countered concern about U.S. President Donald Trump’s threats to India over its Russian oil purchases. Brent crude futures settled $1.12, or 1.63%, lower to $67.64 a barrel, while U.S. West Texas Intermediate crude slipped …

Oil prices fall as OPEC+ output hikes counter Russia disruption concerns Read More »