By Karen Brettell NEW YORK (Reuters) – The dollar gained on Thursday as rising geopolitical tensions drove a safe-haven boost, while the British pound fell after the Bank of England cut interest rates from a 16-year high. Concerns about a widening conflict in the Middle East intensified after Hamas leader Ismail Haniyeh was assassinated in …
Dollar gains on geopolitical tensions, pound slips after rate cut Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – Tiger Brands has increased its presence in townships in South Africa by nearly half this year to more than 71,000 stores, it said on Thursday, as the country’s biggest food producer sees good growth opportunities in previously underserved areas. Fast-moving consumer goods (FMCG) companies as well as grocery retailers …
Tiger Brands expands presence in South African townships Read More »
JOHANNESBURG (Reuters) -South Africa’s rand firmed on Thursday as investors bet on a September interest rate cut in the world’s biggest economy after dovish comments by the U.S. Federal Reserve on Wednesday. At 1540 GMT, the rand traded at 18.20 against the dollar, about 0.1% stronger than its previous close. “The rand traded below the …
LONDON (Reuters) -Glencore’s former head of oil Alex Beard has been charged with bribery offences relating to the Swiss commodity trader’s operations in Africa, Britain’s Serious Fraud Office (SFO) said on Thursday. Beard, 56, is charged with two conspiracies to make corrupt payments to government officials and officials of state-owned oil companies in Nigeria between …
Glencore’s ex-head of oil charged with bribery offences by UK fraud agency Read More »
By Nuzulack Dausen DAR ES SALAAM (Reuters) – Tanzania on Thursday launched a 541-km modern standard gauge railway running between its administrative and commercial capitals, built by a Turkish firm as part of a government drive to improve transport infrastructure. African governments have been racing to build infrastructure like roads, railways and bridges, though critics …
Tanzania launches $3.1 billion railway in drive to boost infrastructure Read More »
JOHANNESBURG (Reuters) – South African manufacturing activity rose in July, a Purchasing Managers’ Index (PMI) survey showed on Thursday, as both domestic and global demand picked up. The seasonally-adjusted PMI for the factory sector was at 52.4 points in July compared to 45.7 in June. A reading above the 50-point mark shows growth. “In these …
South African factory activity rises in July – Absa PMI Read More »
By Brian Benza GABORONE (Reuters) – Sales of rough diamonds at Debswana Diamond Company fell 49.2% in the first half of 2024, according to data released by the Botswana central bank late on Wednesday, as the downturn in the global diamond market continued. Debswana, equally owned by the government of Botswana and Anglo American Plc’s …
Diamond sales at Botswana’s Debswana fall 49.2% as market downturn continues Read More »
By Sinéad Carew NEW YORK (Reuters) -MSCI’S global equities index registered its biggest daily gain in over five months on Wednesday and the dollar slightly pared losses after the U.S. Federal Reserve held interest rates steady but opened the door to interest rate cuts as soon as September. The central bank, in line with investor …
Stocks rise; yields, dollar lower as Fed signals rate cut Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices rose nearly 3% on Wednesday as investors worried the conflict in the Middle East could widen after the killing of a Hamas leader in Iran, and after a sharp fall in U.S. crude stockpiles. Global benchmark Brent crude futures for September delivery , which expired on Wednesday, …
Oil gains nearly 3% on rising Mideast tension, falling US crude stockpiles Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar added to losses on Wednesday after the Federal Reserve held interest rates steady but opened the door to reducing borrowing costs as soon as its next meeting in September. Fed Chair Jerome Powell said in comments after the statement from its two-day meeting that an interest …
Dollar falls as Fed signals likely September rate cut Read More »
