By Karen Brettell NEW YORK (Reuters) -The U.S. dollar gained on Thursday after its recent weakness across peer currencies appeared exhausted for the time being, while the euro weakened slightly after the European Central Bank cut rates for the seventh time in a year. The greenback has largely stabilized this week and held within a …
Dollar benefits from selling exhaustion, ECB cuts rates Read More »
LONDON (Reuters) – Gold, which traders have been flying to New York since December as a precaution against the possibility of broad U.S. tariffs hitting bullion imports, is being shipped back to Switzerland, where it came from, official data shows. Swiss customs data on Thursday showed that the country’s gold imports from the U.S. rose …
Gold starts coming back to Switzerland from US after exclusion from Trump’s tariffs Read More »
NAIROBI (Reuters) – Ghana’s cedi is expected to gain marginally against the U.S. dollar in the coming week, while Zambia’s kwacha is seen under pressure and Kenya’s shilling, Nigeria’s naira and Uganda’s shilling are forecast to be broadly stable, traders said. KENYA Kenya’s shilling is expected to hold steady in the next week. The shilling …
Ghana’s currency expected to post gains, Zambia seen under pressure Read More »
WASHINGTON (Reuters) – The International Monetary Fund on Thursday said it had reached staff-level agreement with Tanzanian authorities that, once approved, would give the East African nation access to some $441 million in financing. The agreement was reached on a fifth review under its Extended Credit Facility (ECF) and a second review under its Resilience …
IMF reaches staff-level agreement set to unlock $441 million for Tanzania Read More »
By Jessica Donati and Sonia Rolley (Reuters) – Prominent Trump supporter Erik Prince has agreed to help Democratic Republic of Congo secure and tax its vast mineral wealth, according to two sources close to the private security executive, a Congolese government official and two diplomats. The agreement, aimed at reaping more revenue from an …
Exclusive-Trump supporter Prince reaches deal with Congo to help secure mineral wealth Read More »
JOHANNESBURG (Reuters) -Alphamin Resources said it restarted tin production at its Bisie mine in eastern Democratic Republic of Congo on Tuesday after rebels withdrew from a nearby town of Walikale. The miner said in a statement it is processing stockpiled tin ore and activities at its underground mine are planned to resume later this month …
Congo tin miner Alphamin says production restarts after rebels withdraw Read More »
JOHANNESBURG (Reuters) -South Africa’s rand firmed on Thursday, as markets awaited clarity on U.S. tariffs and local investors looked for news on the future of the coalition government due to a lingering budget stand-off. At 1355 GMT, the rand traded at 18.775 against the U.S. dollar, about 0.3% stronger than its previous close. U.S. President …
South African rand firms, markets await clarity on tariffs and local politics Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigeria has achieved a 35% reduction in electricity subsidies following a tariff increase implemented last year for some users, Power Minister Adebayo Adelabu said on Thursday, easing some pressure on public finances in Africa’s most populous nation. Nigeria’s power sector is burdened by a failing grid, gas shortages, high …
Nigeria cuts electricity subsidies by 35% after tariff hike Read More »
By Brian Benza GABORONE (Reuters) – Botswana’s central bank held its main lending rate at 1.90% on Thursday, citing balanced risks to the inflation outlook despite global economic uncertainty sparked by U.S. tariffs slapped on most countries. The Bank of Botswana maintained its monetary policy rate for the fourth meeting in a row, after a …
Botswana holds main interest rate for fourth meeting in a row Read More »
By Jefferson Kahinju, Aaron Ross and Monicah Mwangi NANDI HILLS, Kenya (Reuters) – A dispute between a British-owned tea plantation and a local community in western Kenya has come to the boil in what could be a sign of turbulent times ahead for tea producers facing a growing backlash over colonial-era injustices. On the rolling …
Kenya land standoff sends warning to foreign-owned tea estates Read More »
