JOHANNESBURG (Reuters) -The South African rand was flat against a firmer dollar on Friday, after the world’s largest economy recorded stronger-than-expected employment data. At 1413 GMT the rand traded at 17.7775 against the dollar, little changed from Thursday’s closing level, after gaining in early trade when the South African Reserve Bank reported an increase in …
South African rand retreats after strong US jobs data Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s closure of a tax loophole that benefited global discount e-commerce retailers Shein and Temu is starting to show positive signs as some consumers reject the higher prices, the CEOs of local fashion retailers Mr Price and TFG said on Friday. Last November, South Africa’s tax authority ended the …
End of tax loophole for Shein starting to have impact, say South African retailers Read More »
By Brian Benza GABORONE (Reuters) – Botswana’s Debswana Diamond Company is temporarily pausing production at some of its mines, cutting output in response to prolonged weakness in the global diamond market, it said on Friday. The global diamond market has experienced a downturn since the second half of 2023, which caused Debswana to cut production …
Botswana’s Debswana curbs diamond production as weak demand persists Read More »
By Chris Mfula LUSAKA (Reuters) -Zambia’s Afreximbank loan is commercial and will be restructured, the country’s treasury secretary said on Friday. “We are still negotiating with them. The debt will be restructured,” Secretary to the Treasury Felix Nkulukusa told Reuters in Lusaka in response to a question on the status of Zambia’s loan with Afreximbank. …
Zambia says Afreximbank loan is commercial and will be restructured Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South African fashion retailer Mr Price reported a 10.1% increase in full-year earnings on Friday, supported by strong second-half performance amid improved sales growth and reduced markdowns. Diluted headline earnings per share, a key profit measure in South Africa, rose to 13.79 rand, while operating profit grew 8.9% to 5.8 …
Strong second-half sales boost South Africa’s Mr Price annual profit Read More »
By Ahmed Eljechtimi RABAT (Reuters) – Ghana said on Thursday it views a Moroccan autonomy plan as the sole basis to settle the Western Sahara dispute within the framework of the UN, aligning itself with a growing number of Western, African and Arab countries that back Rabat’s position on the dispute. The long-frozen conflict pits …
Ghana endorses Morocco’s autonomy plan for Western Sahara Read More »
By Rodrigo Viga Gaier, Marta Nogueira and Fabio Teixeira RIO DE JANEIRO (Reuters) -Petrobras aims to make Africa its main region of development outside Brazil, the state-run oil giant’s CEO told Reuters on Thursday during a wide-ranging interview about the company’s strategy. Ivory Coast has extended the “red carpet” for Petrobras to explore deep and …
By Stephen Culp NEW YORK (Reuters) -Wall Street veered to a sharply lower close and crude prices advanced on Thursday as a high-profile dispute between U.S. President Donald Trump and billionaire Elon Musk overshadowed trade talks between Washington and Beijing and a spate of downbeat economic data. Stocks wavered through much of the session, but …
US stocks end lower, crude gains as Trump-Musk row distracts from trade talks, data Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil prices settled higher on Thursday, recovering from the previous day’s drop, on news that the U.S. and China agreed to more trade talks following a phone call between U.S. President Donald Trump and Chinese leader Xi Jinping. Brent crude futures settled up 48 cents, or 0.7%, at $65.34 a …
Oil settles up as US, China teams to meet following Trump, Xi trade call Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Chinese electric-vehicle giant BYD plans to nearly triple its dealership network in South Africa by next year as it looks to grow its market share in the country, a senior executive told Reuters. BYD’s move comes at a time of growing competition in Africa’s largest automotive market, where sales of …
China’s BYD to nearly triple South Africa dealers’ network by next year Read More »
