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 »
MOSCOW (Reuters) – Russia has tentatively agreed to the construction of a fuel pipeline in the Republic of Congo, according to a government decree published late on Monday. The pipeline will link the western port of Pointe-Noire to the capital Brazzaville. Moscow said a joint venture to construct the pipeline would be set up with …
Russia clears fuel pipeline construction in Congo Read More »
(Reuters) – South Africa’s consumer confidence recovered further in the third quarter to its best since 2019, helped by improved willingness to spend and hopes of an interest rate cut in September, survey data released on Tuesday showed. The consumer confidence index (CCI), sponsored by First National Bank (FNB) and compiled by the Bureau for …
S. Africa consumer confidence recovers to pre-pandemic levels, survey shows Read More »
NAIROBI (Reuters) – Kenya’s finance ministry forecasts a fall in the budget deficit to 3.5% of gross domestic product (GDP) in the 2025/26 fiscal year that starts next July, from 4.3% of GDP in the current fiscal year, a draft budget document showed. President William Ruto scrapped tax hikes worth more than 346 billion shillings …
Kenya forecasts budget deficit will fall to 3.5% of GDP next fiscal year Read More »
By Oliver Griffin BOGOTA (Reuters) -A ruling from a Colombian court that ordered the suspension of work at a major offshore natural gas well is a threat to the country’s energy security, industry groups the Colombian Petroleum Association (ACP) and Naturgas said on Monday. In a court order dated Sept. 11, a judge said activities …
By Nicole Jao NEW YORK (Reuters) -Oil prices rose on Monday as the ongoing impact of Hurricane Francine on output in the U.S. Gulf of Mexico offset persistent Chinese demand concerns ahead of this week’s U.S. Federal Reserve interest rate cut decision. Brent crude futures for November settled at $72.75 a barrel, up $1.14, or …
Oil prices climb on hurricane impact ahead of US rate decision Read More »
By Chibuike Oguh and Samuel Indyk NEW YORK/LONDON (Reuters) – The U.S. dollar fell to a more than one-year low versus the yen on Monday, as expectations increased that the Federal Reserve could deliver a supersized cut to interest rates later this week. The Fed had been widely expected to announce at least a 25-basis-point …
US dollar hits more than one-year low versus yen as market eyes aggressive Fed rate cut Read More »
By Isla Binnie NEW YORK (Reuters) -Tech stocks dragged on U.S. indexes and the dollar touched a more than one-year low against the yen on Monday as all eyes looked to a Federal Reserve meeting later this week that is expected to usher in a hotly anticipated easing cycle. Expectations have grown that the Federal …
Tech stocks drag, dollar plumbs lows on rate cut expectations Read More »
CAIRO (Reuters) – The Egyptian cabinet said in a statement on Monday that Saudi Crown Prince Mohammed bin Salman has directed the Saudi Public Investment Fund (PIF) to pump $5 billion worth of investment money into Egypt in what it called a “first stage”. The statement came after Egyptian Prime Minister Mostafa Madbouly met the …
By Emma Farge GENEVA (Reuters) – WTO Director-General Ngozi Okonjo-Iweala will seek another four-year term as head of the World Trade Organization following a broad Africa-led push to start the process early, aiming to complete “unfinished business” from her first mandate. Okonjo-Iweala, 70, a former Nigerian finance minister, made history by becoming the first female …
WTO chief Okonjo-Iweala seeks second term to complete ‘unfinished business’ Read More »
