By Chris Mfula LUSAKA (Reuters) -Zambia’s central bank kept its main interest rate unchanged on Friday after two raise decisions, citing an expected slowdown in inflation. The Bank of Zambia maintained its Monetary Policy Rate at 14.50% after hiking it by 50 basis points each at its last meetings in February and November, to tame …
Zambia’s central bank holds rate, anticipates slower inflation Read More »
NAIROBI (Reuters) -The International Monetary Fund expects its board to consider the third review of Ethiopia’s $3.4 billion programme within the set out timeline, a spokesperson said, a key step for the country to advance its programme and receive cash from the fund. Staff from the IMF visited the country in mid-April for an assessment, …
IMF says board on track to weigh third review of Ethiopia deal in time Read More »
By Colleen Goko JOHANNESBURG (Reuters) -For investors, the spectacle of South African President Cyril Ramaphosa’s fraught Oval Office encounter with U.S. counterpart Donald Trump was little more than a sideshow. The true test for Africa’s most industrialised nation, they say, will be whether its coalition government can survive long enough to bolster lacklustre growth and …
Trump ambush a sideshow, as South African investors focus on coalition Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar advanced on Thursday after three days of losses, lifted partly by the passage of President Donald Trump’s bill for huge tax and spending cuts by the House of Representatives, as the euro stumbled following data painting a bleak economic picture for the euro zone. Bitcoin, meanwhile, …
US dollar gains, sentiment still frayed; euro falters Read More »
By Georgina McCartney HOUSTON (Reuters) – Oil prices settled lower on Thursday as investors weighed a report that OPEC+ is discussing a production increase for July, stoking concerns that global supply could outpace demand growth. Brent futures settled down 47 cents, or 0.72%, to $64.44 a barrel. U.S. West Texas Intermediate crude settled down 37 …
Oil prices settle down on potential further increase in OPEC+ output Read More »
BAMAKO (Reuters) -A Malian court has postponed for the second time a hearing on whether to place Barrick Mining’s Loulo-Gounkoto gold mine under provisional administration to restart operations, the presiding judge said on Thursday. The state had requested the adjournment until June 2, Judge Mahamadou Tipou Keita told Reuters. Mali’s government has asked the local …
Mali hearing on Barrick’s Loulo-Gounkoto mines postponed to June 2 Read More »
CAIRO (Reuters) -Egypt’s central bank lowered its overnight interest rates by a less-than-expected 100 basis points on Thursday, saying economic growth had accelerated in the first quarter while inflation had decelerated. The Monetary Policy Committee (MPC) cut the overnight deposit rate to 24% and the lending rate to 25%, its second decrease this year after …
Egypt central bank cuts key interest rates by 100 bps Read More »
JOHANNESBURG (Reuters) -South Africa’s rand was steady for most of Thursday’s trading session, as markets tried to digest U.S. President Donald Trump’s Oval Office ambush of South African leader Cyril Ramaphosa, which overshadowed the country’s budget presentation. At 1540 GMT, the rand traded at 18.01 against the dollar, not far from its previous close on …
South African rand stable after fraught Ramaphosa-Trump meeting Read More »
By Virginia Furness, America Hernandez and Simon Jessop LONDON/PARIS (Reuters) -Germany’s Union Investment has dropped French oil major TotalEnergies from its sustainability funds and called for an independent human rights audit following fresh allegations of abuses at a $15 billion project in East Africa. The move by Union, a top-20 investor according to LSEG data, …
Union Investment cuts TotalEnergies stake over East African project allegations Read More »
By Colleen Goko JOHANNESBURG (Reuters) -South Africa will need to slash spending if its tax agency does not meet its revenue collection target this year, Finance Minister Enoch Godongwana said on Thursday, as the government focuses on keeping rising debt under control. Godongwana was speaking after making only minor adjustments to the government’s spending plans …
South Africa’s spending plans hinge on tax agency hitting target, finance minister says Read More »
