CAIRO (Reuters) – Inflation is expected to have declined for a fifth month in July, despite higher higher food, tobacco and fuel prices, as IMF efforts to control monetary policy have started to take effect, a Reuters poll showed on Wednesday. Egypt in March signed an $8 billion financial support package with the International Monetary …
Egyptian inflation expected to fall for fifth month in July Read More »
JOHANNESBURG (Reuters) -The South African rand gained on Wednesday as a rebound in global stock markets boosted risk sentiment and investors awaited U.S. labour market data later this week for hints on the future interest rate path of the world’s biggest economy. At 1416 GMT, the rand traded at 18.35 against the dollar, about 0.8% …
South African rand rises as markets rebound, focus remains on US data Read More »
By Bhargav Acharya and George Obulutsa NAIROBI (Reuters) -Kenya’s central bank governor said on Wednesday that the country’s shilling currency had remained stable in the face of protests sparked by a plan to hike taxes and should shrug off recent credit rating downgrades. Governor Kamau Thugge was speaking a day after the Central Bank of …
Kenya currency should shrug off rating downgrades, cenbank governor says Read More »
NAIROBI (Reuters) – Kenya’s shilling was stable against the U.S. dollar on Wednesday, LSEG data showed. At 0807 GMT, the shilling traded at 129.00/130.00 per dollar, the same as Tuesday’s closing rate. On Tuesday the central bank lowered its benchmark lending rate to 12.75% from 13.00% previously, saying there was scope to ease policy gradually …
Kenyan shilling stable versus dollar – LSEG data Read More »
By Arunima Kumar (Reuters) -West Africa-focused Tullow Oil posted a rise in profit for the first six months of 2024, helped by higher crude prices. Crude prices have edged higher in the first six months of the year, getting a boost from an OPEC+ production cut extension, supply worries from escalating tensions in the Middle …
Tullow Oil reports higher profit for first half of 2024 Read More »
By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) – Equities around the world rebounded on Tuesday from the previous day’s aggressive sell-off while Treasury yields rose and the dollar was slightly higher as investors ventured back into risk assets and central banker comments soothed recession fears. Oil prices settled higher on Tuesday after hitting …
Global stocks rebound from sell-off; Treasury yields, dollar higher Read More »
By Hannah Lang and Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar recovered ground against most major peers on Tuesday and the Japanese yen steadied around seven-month highs against the U.S. currency, as some of the more striking moves of recent days reversed somewhat and a semblance of calm returned to markets. The dollar was …
Dollar recovers ground, steadies against yen as market frenzy eases Read More »
NEW YORK (Reuters) – An epic unwinding of the yen-funded carry trade that has reverberated through global markets may have further to go, analysts said on Tuesday. Days of havoc in global markets have analysts rushing to calculate the size of a global carry trade in which investors have borrowed money from economies with low …
Unwind of massive yen-funded carry has room to go, analysts say Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices settled higher on Tuesday, bouncing off multi-month lows hit in the previous session, as investor attention turned to supply tightness and financial markets recovered from their recent slump. Brent crude futures rose by 18 cents, or 0.2% to settle at $76.48 a barrel. U.S. West Texas Intermediate …
Oil prices settle higher; signs of tighter supply end 3-day swoon Read More »
By Mohamed Ezz and Patrick Werr CAIRO (Reuters) -Egypt plans to turn to the local debt market and try new debt instruments as it works to bring down a persistent budget deficit over the coming year, its finance ministry said on Tuesday. The deficit in the 2023/24 fiscal year, which ended on June 30, was …
Egypt to seek soft loans to help finance 2024/25 deficit, finance minister says Read More »
