By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar on Tuesday edged higher from its more than two-month lows against the euro, sterling and Swiss franc, as investors consolidated gains in other currencies ahead of a key nonfarm payrolls report later this week. The greenback, however, pared gains against a basket of currencies led by …
US dollar drifts higher from multi-month lows; yen gains Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices fell more than $1 a barrel on Tuesday on scepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness. Extending losses from a four-month low reached on Monday, Brent crude futures settled down 84 cents, …
Oil drops as OPEC+ boosts supply even though demand is shaky Read More »
JOHANNESBURG (Reuters) -The South African rand fell on Tuesday as uncertainty around possible coalition partners persisted, a week after an election which saw the African National Congress lose its parliamentary majority for the first time in 30 years. At 1414 GMT, the rand traded at 18.6475 against the dollar, about 0.7% weaker than its closing …
South African rand falls on uncertainty as ANC coalition talks get underway Read More »
By Felix Onuah and Isaac Anyaogu LAGOS/ABUJA (Reuters) -Nigeria’s main labour unions suspended an indefinite strike for a week on Tuesday in order to continue talks with the government over a new minimum wage after reforms in the West African nation caused inflation to spike, worsening a cost of living crisis. Nigeria’s two biggest union …
Nigeria’s unions suspend strike for talks over new minimum wage Read More »
By Marc Jones, Libby George and Karin Strohecker LONDON (Reuters) -More than three-and-a-half years, or 1,300 days, after resource-rich Zambia formally declared itself bankrupt it is about to drag itself out of default, leaving some hard lessons for richer nations about how their much-vaunted debt relief plan performed. Tuesday will see its international bondholders vote …
Zambia’s debt restructuring limps over line as painful test case Read More »
By Kopano Gumbi JOHANNESBURG (Reuters) -South Africa’s National Treasury aims to stick to a balanced fiscal stance under a coalition government, its director-general said on Tuesday, after the African National Congress (ANC) lost its majority in last week’s election. The ANC has up to two weeks to agree a coalition pact or another form of …
South Africa’s Treasury aims for balanced fiscal stance under coalition Read More »
(Reuters) -An independent board formed by MultiChoice recommended an all-cash mandatory offer made by French media group Vivendi’s Canal+ for the shares it does not already own in the South African broadcaster, the companies said on Tuesday. The independent board concluded that the terms and conditions of the offer were fair and reasonable to MultiChoice …
South Africa’s MultiChoice recommends Canal+ offer Read More »
(Reuters) – The board of South Africa’s RCL Foods has approved the separate listing of its poultry unit on the Johannesburg Stock Exchange (JSE), the company said on Tuesday. RCL, whose brands include Selati sugar, Ouma rusks and Yum Yum peanut butter, says it is restructuring its portfolio to deliver sustainable earnings. The chicken business …
S.Africa’s RCL Foods edges closer to spinning off poultry business Read More »
CAIRO (Reuters) – A slump in Egypt’s non-oil private sector showed signs of easing in May as improving price stability after the country’s currency devaluation in March and its $8 billion loan agreement with the IMF began to restore confidence, a survey showed on Tuesday. The S&P Global Purchasing Managers’ Index (PMI) for Egypt climbed …
Slowdown in Egypt’s non-oil sector eases in May, PMI shows Read More »
By Koh Gui Qing and Yoruk Bahceli NEW YORK/LONDON (Reuters) -World stocks rose on Monday despite a subdued Wall Street following unexpected weakness in U.S. manufacturing data, feeding uncertainty about the U.S. interest rate outlook as the euro zone prepared for a rate cut on Thursday. By early evening in New York, the MSCI All …
