JOHANNESBURG (Reuters) – South Africa recorded foreign direct investment inflows of 24.4 billion rand ($1.34 billion) in the first quarter of 2024, up from a revised 2.5 billion rand in the previous quarter, central bank data showed on Thursday. The South African Reserve Bank said in its Quarterly Bulletin that the inflows were largely due …
South Africa’s FDI inflows pick up in first quarter – central bank Read More »
By Giulia Paravicini and Aaron Ross NAIROBI (Reuters) -Kenyan President William Ruto on Wednesday withdrew planned tax hikes, bowing to pressure from protesters who had stormed parliament, launched demonstrations across the country and threatened more action this week. The move will be seen as a major victory for a week-old, youth-led protest movement that grew …
Kenya president backs down on tax hikes after deadly unrest Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – The dollar hit a fresh 38-year high against the yen on Wednesday, with investor speculation high that authorities in Japan could intervene to strengthen the Japanese currency, while global stock indexes were mixed. Japan’s top currency diplomat, Masato Kanda, said authorities were “seriously concerned and on high alert” …
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The yen sank to its lowest against the U.S. dollar in nearly 38 years on Wednesday, as wide interest rate differentials between the two economies in favor of the greenback continued to pummel the Japanese unit, keeping traders on alert for any sign of intervention from Japan to …
Yen plunges to 38-year low vs dollar as markets brace for Japan intervention Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices settled slightly higher on Wednesday despite a surprise jump in U.S. gasoline supplies, as investors worried that a potential expansion of the Gaza war could disrupt crude supplies from the Middle East. Brent crude futures rose 24 cents, or 0.3%, to settle at $85.25 per barrel. U.S. …
Oil settles slightly up as global supply risks offset US demand concerns Read More »
By Isaac Anyaogu ABUJA (Reuters) – Nigeria’s Dangote Refinery is operating normally after a fire at its effluent treatment plant, it said on Wednesday, after videos circulated online of dark plumes of smoke at the 650,000 barrel-per-day facility. The refinery is located in Lekki, roughly 80 kilometres east of Nigeria’s commercial capital Lagos. Dangote’s spokesperson …
Nigeria’s Dangote Refinery says it is operating normally after fire Read More »
JOHANNESBURG (Reuters) -The South African rand edged lower on Wednesday, as an announcement on President Cyril Ramaphosa’s cabinet appeared imminent amid uncertainty over key appointments in the executive. At 1541 GMT, the rand traded at 18.2450 against the dollar, 0.1% weaker than its previous close. The African National Congress (ANC) lost its parliamentary majority in …
South African rand edges lower as cabinet announcement nears Read More »
LONDON (Reuters) – International Resources Holding (IRH), the mining investment arm of United Arab Emirates’ richest company, is among investors holding talks on buying into Vedanta Resources’ Zambian copper assets, a senior Vedanta executive told Reuters. IRH, a unit of Abu Dhabi’s International Holding Company which holds about $244 billion in assets, is interested in …
Vedanta in talks with IHC unit, investors for Zambian copper stake sale Read More »
(Reuters) – Leading South African poultry producer Rainbow Chicken listed on the Johannesburg Stock Exchange on Wednesday, as part of its unbundling from RCL Foods. RCL Foods, whose brands include Selati sugar, Sunbake bread and Yum Yum peanut butter, says it is restructuring its portfolio to deliver sustainable earnings. The spinning off of the Rainbow …
By Caroline Valetkevitch NEW YORK (Reuters) -Global stock indexes mostly climbed on Tuesday, with shares of AI chipmaker Nvidia bouncing after a three-day sell-off, while the dollar gained slightly against the Japanese yen. Nvidia’s stock ended up 6.8%. The Nasdaq jumped more than 1%, also ending a three-day losing streak, while the S&P 500 technology …
Stocks gain with Nvidia, dollar inches up vs yen Read More »
