By Chuck Mikolajczak NEW YORK (Reuters) -The euro fell on Thursday after the European Central Bank kept rates steady, as was widely expected, while the dollar index climbed after stronger-than-expected data on the U.S. labor market and manufacturing. The ECB gave no insight into its next move, arguing that domestic price pressures remain high and …
Euro falls after ECB holds rates, dollar climbs after data Read More »
By Nyasha Chingono (Reuters) – Zimbabwe’s state-owned Kuvimba Mining House has signed a $310 million deal with a consortium of British and Chinese investors for the construction of a lithium concentrator, the company announced on Thursday. Kuvimba Mining House said in a statement it has signed a binding Build, Operate, and Transfer (BOT) agreement with …
Zimbabwe’s Kuvimba signs $310 million lithium mine deal Read More »
By Kopano Gumbi, Bhargav Acharya and Tannur Anders JOHANNESBURG (Reuters) -South Africa’s central bank kept its main interest rate unchanged for a seventh meeting in a row at 8.25% on Thursday, but for the first time since September the decision was not unanimous. The South African Reserve Bank’s Monetary Policy Committee was split, with four …
South African central bank holds key rate but some members ready to cut Read More »
By Tannur Anders JOHANNESBURG (Reuters) -South Africa’s rand was stable on Thursday after the South African Reserve Bank kept its main interest rate unchanged for the seventh meeting in a row. The decision by the central bank’s Monetary Policy Committee was split, with four members preferring the current rate of 8.25% and two favouring a …
South African rand stable as cenbank keeps rate unchanged again Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghanaian cocoa farmers expect a boost in the 2024/2025 season starting in October after a sharp fall in production this season contributed to boosting global cocoa prices to record levels. Ghana witnessed one of its poorest harvests in a decade this season, attributed to harsh weather conditions resulting …
Ghana’s cocoa farmers expect yield rebound in 2024/2025 crop season Read More »
JOHANNESBURG (Reuters) – South African investment company Brait said on Thursday that its rights issue to raise 1.5 billion rand ($82.59 million) would be priced at a 25% discount to the share’s theoretical ex-rights price (TERP). “The Offer Price has been underwritten at 59.0 South African cents per Rights Offer Share, which represents a 25% …
South Africa’s Brait says it prices rights issue at 25% discount Read More »
(Reuters) – The Suez Canal’s annual revenue dropped by almost a quarter in its latest financial year as some shippers switched to alternative routes to avoid attacks by Iran-aligned Houthis in the Red Sea. Osama Rabie, the head of the Egyptian canal’s authority said on Thursday revenues fell to $7.2 billion in its 2023-24 financial …
Suez Canal revenue drops as some shippers shun Red Sea Read More »
COPENHAGEN (Reuters) – Sweden’s Electrolux said in a statement on Thursday it had agreed to divest its water heater business in South Africa for about 1.4 billion crowns ($132.69 million). The deal includes the Kwikot brand and production facilities for water heaters in Johannesburg, Electrolux said, adding that it would book a negative earnings impact …
Electrolux to divest its water heater business in South Africa Read More »
By Isla Binnie NEW YORK (Reuters) -Global equity indexes mostly fell on Wednesday as possible U.S. trade curbs on chip equipment pulled tech stocks lower, while Treasury yields and the dollar both hit four-month lows as Federal Reserve officials indicated the central bank was getting closer to cutting interest rates. The Japanese yen rose sharply, …
Trade fears hamper tech stocks, dollar falls amid rate cut talk Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The yen rose sharply on Wednesday in a move that sparked speculation as the result of another intervention from Japanese officials to support the long-battered currency from multi-decade lows. The yen has posted several outsized moves in recent days, appreciating sharply on Thursday and Friday from 38-year lows …
Yen surges on possible intervention, sterling hits one-year high Read More »
