Reuters Africa Business

By Camillus Eboh ABUJA (Reuters) -A Nigerian court on Wednesday ordered the release of Binance executive Tigran Gambaryan after the government dropped money laundering charges against him to allow him to get medical treatment abroad. Nigeria’s Economic and Financial Crimes Commission (EFCC) withdrew the case against Gambaryan, a U.S. citizen and head of financial crime …

Nigerian court orders release of Binance executive after charges dropped Read More »

JOHANNESBURG (Reuters) -South Africa’s inflation dropped sharply in September, hitting its lowest level in more than three years and bolstering expectations for another interest rate cut by the central bank next month. Annual consumer price inflation slowed to 3.8% from 4.4% in August, Statistics South Africa data showed. Economists polled by Reuters had forecast inflation …

South African inflation drops sharply, paving way for more rate cuts Read More »

By Shariq Khan NEW YORK (Reuters) -Oil prices settled higher for the second consecutive session on Tuesday, as traders downplayed hopes of a Middle East ceasefire and focused on signs of improving demand from China, which could tighten market balances in the months ahead. Brent crude futures for December gained $1.75, or 2.4%, to settle …

Oil settles up 2% as Middle East war rages and supplies tighten Read More »

By Chibuike Oguh NEW YORK (Reuters) -Global stocks dropped for the second straight session while U.S. yields rose on Tuesday amid market uncertainty ahead of the U.S. election as well as the outlook on interest rate cuts. Democratic Vice President Kamala Harris held a marginal lead of 46% to 43% over Republican former President Donald …

Shares fall, US yields rise amid election and rate cut jitters Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar rose to a fresh 2-1/2-month high on Tuesday, continuing its recent ascent on expectations the Federal Reserve will temper its interest rate cut path, while investors positioned ahead of an apparently tight U.S. presidential election. The greenback has risen for three straight weeks and is …

Dollar hits to 2-1/2-month peak as US rates, election eyed Read More »

JOHANNESBURG (Reuters) -The South African rand was stronger on Tuesday, buoyed by global precious metals prices and its appeal for carry trades. At 1502 GMT, the rand traded at 17.5050 against the dollar, 0.6% stronger than its closing level on Monday. Carry trades involve investors borrowing funds in countries with low interest rates and putting …

South African rand supported by carry trade and precious metals Read More »