By Karen Brettell (Reuters) -The Japanese yen gained on Tuesday on news reports that the Bank of Japan is considering raising rates to 0.25% when it concludes its two-day meeting on Wednesday. That would be an increase from the current 0-0.1% and more than the market is currently pricing in, with a 10 basis-point increase …
Yen gains on reports of possible BOJ hike to 0.25% Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 1% to settle at a seven-week low on Tuesday as investors worried that demand from China could be weakening while OPEC+ seems likely to stick to plans to increase supplies. Market participants have been talking for days about a possible ceasefire deal in Gaza that …
Oil prices slide 1%, settle at 7-week low on China worries Read More »
JOHANNESBURG (Reuters) – The South African rand gained on Tuesday as markets waited on the outcome of a U.S. Federal Reserve meeting on Wednesday which could give hints on its rate-cut timeline. At 1526 GMT, the rand traded at 18.35 against the dollar, about 0.5% stronger than its previous close, after tumbling against a stronger …
By Humphrey Malalo NAIROBI (Reuters) – A former head of Kenya’s main state-owned trading company was charged in court on Tuesday with abuse of office and other offences over a 2022 scheme to import edible oil that local media said cost more than $120 million. The arraignment of Pamela Mutua is the first notable attempt …
Kenya charges ex-state firm head over edible oil import graft Read More »
JOHANNESBURG (Reuters) -South Africa’s biggest supermarket group Shoprite said on Tuesday that total sales of merchandise for the full year jumped 12%, buoyed by new store openings and as the majority of its store brands reported double digit sales growth. Shoprite’s total sales from continuing operations rose to 240.7 billion rand ($13 billion), including the …
South African grocery retailer Shoprite’s annual sales jump 12% Read More »
By Kanishka Singh and Aidan Lewis WASHINGTON (Reuters) – The International Monetary Fund said on Monday it had completed a review allowing Egypt to draw $820 million, saying efforts to restore macroeconomic stability had started to yield results but urging more progress on reining in state-owned enterprises. The review is the third under Egypt’s latest …
IMF approves release of $820 million for Egypt, calls for more reforms Read More »
NAIROBI (Reuters) – Kenya’s East African Breweries said on Tuesday its pretax profit dropped to 16.77 billion Kenyan shillings ($129.0 million) in its full year to end-June, down from 18.71 billion shillings in the previous year. EABL, which also operates in Uganda and Tanzania, said net revenues were up 13% to 124.13 billion shillings, while …
Kenya’s East African breweries FY pretax profit falls to 16.77 billion shillings Read More »
By Chris Prentice and Wayne Cole NEW YORK/SYDNEY (Reuters) -Global stocks advanced and longer-dated U.S. yields slipped on Monday, at the start of a week jammed with earnings and a trio of central bank meetings that could see the United States and Britain open the door to interest rate cuts. U.S. jobs data for July, …
World stocks gain, US yields fall at start of jam-packed week Read More »
WASHINGTON (Reuters) – Ethiopia has secured an agreement with the International Monetary Fund for a new financing program worth $3.4 billion, the IMF said on Monday. Ethiopia’s central bank floated the country’s birr currency on Monday, a key step to secure IMF support, and to make progress on a long-delayed debt restructuring. The Horn-of-Africa nation, …
IMF, Ethiopia reach deal for $3.4 billion in financing Read More »
By Alden Bentley, Harry Robertson and Kevin Buckland NEW YORK/LONDON/TOKYO (Reuters) -The dollar held steady on Monday as traders braced for an avalanche of market events featuring midweek policy decisions by the Federal Reserve, Bank of Japan and Bank of England, and what could be a pivotal U.S. employment report for the Fed on Friday. …
Dollar trades sideways as markets wait for central bank, economic news Read More »
