JOHANNESBURG (Reuters) -South African assets gained on Wednesday, lifted by optimism over comments by the Federal Reserve chair that reinforced expectations that U.S. interest rate cuts were not far off. At 1610 GMT, the rand traded at 18.40 against the dollar, over 1% stronger than its previous close. The dollar last traded more than 0.4% …
By Felix Njini JOHANNESBURG (Reuters) – The UAE’s International Resources Holding (IRH) has withdrawn a bid to buy a stake in Vedanta Resources Ltd’s Zambian copper mines, it said on Wednesday, after talks collapsed because of a failure to agree on the assets’ value. IRH, an arm of United Arab Emirate (UAE)’s International Holding Company, …
UAE’S IHC unit withdraws offer for Vedanta’s Zambian copper mines over price Read More »
NAIROBI (Reuters) – Kenya has named central bank economist Raphael Owino as the new head of its debt management office, the finance ministry said on Wednesday. Owino takes over from Haron Sirima, who told local media in January that he wanted to make way for someone younger. “His (Owino’s) expertise in public debt management, particularly …
Kenya appoints central bank economist as new head of debt management office Read More »
(Reuters) – South Africa’s Impala Platinum on Wednesday said a strike at its Bafokeng operations had ended nearly a week after it started. The work stoppage had started on June 27 and mostly involved contractors at the North Shaft of Impala Bafokeng’s BRPM operation demanding permanent positions, the company said. “Following constructive engagement between the …
Impala Platinum says Bafokeng shaft strike has ended Read More »
By Marc Jones LONDON (Reuters) – The World Bank and other top development banks got a double boost on Tuesday as Fitch said debt payment freezes for climate-disaster hit countries would not hit the banks’ credit rating and it would no longer cap ratings on new ‘hybrid’ bonds. The World Bank and some other lenders …
Development banks get ratings boost on climate clauses and hybrid bonds Read More »
NAIROBI (Reuters) – Kenya’s private sector activity fell in June, hit by the impact of widespread protests against a now-shelved finance law, a business survey showed on Wednesday. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 47.2 in June from 51.8 in May. Readings below 50.0 signal contraction. “Tough economic conditions brought on …
Kenya’s private sector activity contracts in June, PMI shows Read More »
JOHANNESBURG (Reuters) – South African private sector activity fell in June as output and new orders slipped on uncertainty over the outcome of an election held in May, a survey showed on Wednesday. The S&P Global South Africa Purchasing Managers’ Index fell to 49.2 in June from 50.4 in May. A reading below 50 indicates …
South Africa business activity falls in June, PMI shows Read More »
By Erwin Seba HOUSTON (Reuters) -Crude oil prices fell on Tuesday as fears faded that Hurricane Beryl would disrupt supplies as the storm will avoid most oil fields as it barrels toward Jamaica. Brent crude futures settled down 36 cents, or 0.42%, at $86.24 a barrel. U.S. West Texas Intermediate crude settled at $82.81 a …
By Chibuike Oguh NEW YORK (Reuters) -Global stocks edged higher while U.S. Treasury yields dipped on Tuesday as markets weighed data showing a persistently tight labor market, and prospects of interest rate cuts after comments from Federal Reserve Chair Jerome Powell. The Fed needs more data before cutting rates to ensure recent weaker inflation readings …
Shares edge higher, US Treasury yields weaken as markets weigh Fed chair comments Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar slipped on Tuesday in thin, choppy trading after Federal Reserve Chair Jerome Powell struck a moderately dovish tone in his comments, suggesting that the U.S. central bank is more than likely to start its easing cycle later this year. Powell, in a monetary policy conference in Portugal, …
US dollar inches lower as dovish Powell comments offset upbeat jobs data Read More »
