Reuters Africa Business

DAKAR (Reuters) – The International Monetary Fund on Wednesday said a staff team had visited Senegal to start assessing the implications of data revisions resulting from a government audit of past and current IMF-supported programs. While the certification of the government’s findings is pending, IMF staff will continue to work closely with the authorities in …

IMF staff team has started assessing implications of Senegal financial audit, IMF says Read More »

By Stephen Culp NEW YORK (Reuters) -U.S. stocks ended higher in opposition to their global counterparts on Wednesday, and crude extended its decline on projected softening demand. Megacap growth stocks faltered, limiting the tech-heavy Nasdaq’s advance. Economically sensitive sectors helped propel the S&P 500 and the Dow to more substantial gains, with the latter eking …

US stocks end up with Dow nabbing record closing high, as crude weakness persists Read More »

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar firmed on Wednesday, hitting an 11-week high, as investors ruled out a hefty interest rate cut from the Federal Reserve at the next policy meeting and priced in a potential election victory by former President Donald Trump. Sterling, meanwhile, tumbled to its lowest in two months …

US dollar rallies on Fed outlook, potential Trump win; inflation weighs on pound Read More »

By Scott DiSavino NEW YORK (Reuters) -Oil prices held near a two-week low on Wednesday after dropping about 7% over the prior three days on forecasts for less oil demand growth and reduced concerns that Middle East conflicts will disrupt supply. Brent futures fell 3 cents to settle at $74.22 a barrel, while U.S. West …

Oil prices hold at 2-week low on lower oil demand growth forecasts Read More »

NAIROBI (Reuters) -South Sudan and Sudan have made progress towards restarting the pumping of South Sudan’s crude oil through a pipeline running to a port in its neighbour, South Sudan’s finance minister and the president’s office said. WHY IT’S IMPORTANT The exports are a crucial source of revenue for South Sudan and Sudan takes a …

South Sudan says it is ready to restart pumping oil through Sudan Read More »

By Arunima Kumar (Reuters) -Oil prices were steady on Tuesday, after rising more than $1 in the previous session, as traders assessed concerns over U.S. production in the aftermath of Hurricane Francine and also the prospect of lower U.S. crude stockpiles. Focus was also on the U.S. Federal Reserve’s policy meeting that will conclude on …

Oil prices steady as US output concerns counter tepid Chinese demand Read More »

LONDON (Reuters) -The dollar traded near its lowest levels of the year on Tuesday, on the eve of the expected start to a U.S. easing cycle that markets are betting may begin with an outsized rate cut. The euro hovered around $1.1133 at 08:30 GMT, not far from the year’s high of $1.1201. The yen …

Dollar dragged by 50 bps Fed cut wagers Read More »

By Samuel Indyk and Rae Wee LONDON (Reuters) -European stocks were higher on Tuesday, while the U.S. dollar was pinned lower, a day before the U.S. Federal Reserve is expected to begin an easing cycle that could see policymakers deliver an outsized rate cut. Investors remain solely focused on Wednesday’s Fed decision as odds have …

Global shares rise, dollar pinned lower by Fed rate cut bets Read More »

JOHANNESBURG (Reuters) – The South African rand held steady in early trade on Tuesday, with investor focus on Wednesday’s U.S. Federal Reserve policy decision which could see it deliver a big interest rate cut. At 0750 GMT, the rand traded at 17.6250 against the dollar, not far from its Monday closing level of 17.6225. Markets …

South African rand steadies, markets focus on Fed rate cut Read More »