JOHANNESBURG (Reuters) -The South African rand strengthened to a nearly 13-month high on Monday, ahead of the release of domestic inflation data on Wednesday which may provide hints on the country’s future interest rate path. At 1519 GMT, the rand traded 0.7% firmer at 17.7375 against the dollar, a level not seen since late July …
South African rand firms to near 13-month high, focus on local inflation Read More »
NAIROBI (Reuters) – Kenya’s government will have to bring back some tax measures that it scrapped after deadly protests in June, the finance minister said, raising the risk of further unrest. John Mbadi told Citizen TV in an interview broadcast on Sunday night that some of the measures would be tweaked and not all would …
Kenya to bring back some scrapped tax plans, risking more unrest Read More »
JOHANNESBURG (Reuters) – Thungela Resources, a South African exporter of thermal coal burned in power stations, expects the country’s shipments of the fossil fuel to rebound from next year as rail bottlenecks ease, CEO July Ndlovu said on Monday. The country’s coal shipments fell to a three-decade low of about 47 million tons per year …
Thungela CEO sees South Africa coal exports rebounding as rail improves Read More »
RABAT (Reuters) – Morocco’s annual inflation, measured by the consumer price index, eased to 1.3% in July from 1.8% a month earlier, Morocco’s statistics agency said on Monday. Food prices, the main driver for inflation, rose 0.5% from a year earlier, while non-food inflation increased by 1.8%. Core inflation, which excludes more volatile goods, was …
Morocco annual inflation dropped to 1.3% in July from 1.8% in June Read More »
JOHANNESBURG (Reuters) -South Africa’s Absa Group posted a 5% decline in half-year profit on Monday as operating expenses rose faster than revenue but flagged a moderation in cost growth in the second half and a slight improvement in credit loss levels. Inflationary pressure, high interest rates, regular power blackouts and logistical bottlenecks are taking a …
South African lender Absa reports lower half-year profit Read More »
JOHANNESBURG (Reuters) -South African lender Absa Group on Monday said Chief Executive Officer Arrie Rautenbach will take early retirement from the company, effective on April 15, 2025. Charles Russon will become interim CEO of Absa Group and Absa Bank effective on Oct. 15, 2024, subject to regulatory approval, the bank said in a statement. “Charles’ …
South Africa’s Absa CEO Arrie Rautenbach to retire next year Read More »
DUBAI (Reuters) – Libya’s Tripoli-based central bank said on Sunday it would shut down all operations and not resume work until a senior bank official kidnapped earlier in the day was released. The central bank is the only internationally recognised depository for Libyan oil revenues, a vital economic income for a country torn for years …
Libya’s central bank suspends operations after kidnapping of official Read More »
NAIROBI (Reuters) – The biggest union of Kenya’s aviation workers has postponed for two weeks a planned strike that was scheduled to start on Monday, to allow talks with the government over a proposed deal with an Indian company to develop the country’s main airport. The union, which represents airport workers, opposes the proposed agreement …
Kenya aviation workers’ union postpones planned strike Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices settled down nearly 2% on Friday, little changed on the week with Brent crude below $80 a barrel, as investors tempered expectations of demand growth from top oil importer China. Brent crude futures fell $1.36, or 1.7%, to settle at $79.68 per barrel. U.S. West Texas Intermediate …
Oil falls 2% to end volatile week, focus on China demand concerns Read More »
By Lawrence Delevingne and Naomi Rovnick (Reuters) -Global shares pushed higher on Friday, adding to weekly gains, after encouraging U.S. economic data helped soothe fears of a recession in the world’s largest economy. On Wall Street, stocks extended their biggest weekly percentage gains of the year. The Dow Jones Industrial Average finished up about 0.25% …
World stocks extend week-long rebound after slew of US data Read More »
