By Duncan Miriri NAIROBI (Reuters) – Nervous investors are avoiding long-dated Kenyan Treasury bills and bonds, central bank data showed, putting more strain on the government’s plans to pivot to domestic borrowing after scrapping controversial tax hikes. The latest debt sale, on Aug. 1, saw the benchmark 1-year Treasury bill get less than a tenth …
Risk-averse investors shun Kenyan local debt, deepening fiscal woes Read More »
By Sinéad Carew and Harry Robertson NEW YORK/LONDON (Reuters) -A closely followed global equities index jumped more than 1% on Thursday after lower-than-expected weekly U.S. unemployment claims calmed recession fears, also pushing Treasury yields higher alongside the U.S. dollar. Oil futures registered their third straight day of gains, with growing supply risks in the Middle …
Global stock index rises with dollar, yields as data calms nerves Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – Importers of low-value parcels destined for South Africa will soon pay value added tax, the country’s tax authority said, as an interim measure to protect a clothing industry facing fierce competition from international e-commerce players such as Shein. The move follows other countries, including the European Union, which is …
South Africa to impose VAT on low-value parcels to help clothing industry compete Read More »
By Hannah Lang NEW YORK (Reuters) – The dollar rose on Thursday after new U.S. labor market data showed that unemployment benefits fell more than expected last week, easing fears of an imminent recession. The greenback’s rise was most prominent against the yen, following a sharp drop the day before in a volatile week in …
Dollar gains after US jobless claims fall more than expected Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil prices settled higher on Thursday for the third consecutive session, after U.S. jobs data eased demand concerns and war in the Middle East helped prices recover from an eight-month low on Monday. Brent crude futures settled up 83 cents or 1.06% to $79.16 a barrel. U.S. West Texas Intermediate …
Oil settles up for third straight day on US job data and Mideast tensions Read More »
By Libby George LONDON (Reuters) – Like thousands of Nigerians and millions of others across the developing world, higher fuel costs have irked Antonia Arosanwo. “I am angry,” the 46-year-old mother of five said at a bus stop in Lagos, the teeming commercial capital of Africa’s most populous nation. Her journey from Ojuelegba, a bustling …
Analysis-In deluge of protests, fuel subsidies prove hard to abolish Read More »
CAIRO (Reuters) -Egypt’s annual urban consumer price inflation eased to 25.7% in July from 27.5% in June, the country’s statistics agency CAPMAS said on Thursday, a larger drop than forecast by analysts. Month-on-month prices fell by 0.4%, slowing from a 1.6% rise in June. Food prices eased by 0.3% in July, though they were still …
CAIRO (Reuters) – The “hot money” that left Egypt on Monday as foreign investors sold T-bills and bought dollars during a global markets rout represented no more than 7-8% of their holdings, Prime Minister Mostafa Madbouly told a news conference on Thursday. Foreign investors sold Egyptian pound treasury bills and converted the proceeds to U.S. …
Hot money that left Egypt on Monday no more than 7-8% of total, prime minister says Read More »
BENGALURU (Reuters) – Indian tyre maker MRF reported first-quarter profit above analysts’ estimates on Thursday, as stronger volume growth outweighed a rise in rubber prices. Profit fell 3.1% to 5.63 billion rupees ($67.1 million) in the April-June period, but was above analysts’ expectation of 4.25 billion rupees, according to LSEG data. Revenue rose about 12% …
India’s MRF beats Q1 profit view on higher volumes Read More »
(This Aug. 7 story has been corrected to fix the reason for the termination of the deal in paragraph 1) (Reuters) – Savannah Energy said on Wednesday it has terminated the planned $1.25 billion purchase of Malaysia’s state energy firm Petronas’ oil and gas business in South Sudan, as the parties could not close the …
Savannah Energy terminates $1.25 billion Petronas South Sudan deal (Aug. 7) Read More »
