By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) -The dollar rose on Thursday after data showed U.S. import prices increased 0.9% last month, a jump that raised concerns the Federal Reserve’s fight to tame inflation is not yet done and could delay plans for policymakers to cut interest rates. Economic data this week offered …
JOHANNESBURG (Reuters) -The South African rand strengthened to a five-month high on Thursday, as risk sentiment improved on growing bets the Federal Reserve may cut interest rates in September. At 1518 GMT, the rand traded at 18.2250 against the dollar, 0.25% stronger than its previous close. It briefly hit 18.1775 earlier in the day, a …
South African rand firms to five-month high on Fed rate cut bets Read More »
By Isaac Anyaogu LAGOS (Reuters) – Oil major Shell has confirmed a fire that broke out near its Gbaran Ubie gas facility in Nigeria’s coastal Bayelsa state on Tuesday has been put out. “We are pleased to report that the fire outside our Gbaran Central Processing Facility…went out last night and a regulator-led Joint Investigation …
Shell says fire near Nigeria’s Gbaran gas facility has been extinguished Read More »
By Joe Bavier KOMATI, South Africa (Reuters) – In a ward South Africa’s governing African National Congress (ANC) won handily in local elections three years ago, party campaign worker Poppy Vilakazi has been getting a decidedly frosty reception lately. “Mostly they are angry,” she told Reuters, speaking in Komati, a village in the shadow of …
South Africa’s ANC walks political tightrope over coal plant shutdowns Read More »
By Patrick Werr and Aidan Lewis CAIRO (Reuters) – Egypt appears on track to break with past practice and let its currency float in line with IMF-backed reforms, but structural changes that could pull the country out of a cycle of bailouts look less likely. After two years of chronic foreign currency shortages, Egypt has …
Analysis-Upturn in Egypt’s economic fortunes tempered by caution on reform Read More »
By Rachel Savage JOHANNESBURG (Reuters) – South Africans vote in a national election on May 29 and, for the first time since the end of apartheid 30 years ago, polls suggest the ruling African National Congress party (ANC) is at risk of losing its parliamentary majority. Investors are paying close attention. WHY IS A MAJORITY …
Explainer-What are the key issues for investors in South Africa’s 2024 election? Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -Global stock markets rose to record highs while U.S. Treasury yields and the U.S. dollar fell on Wednesday as data showed U.S. consumer prices rose less than expected in April, suggesting inflation has resumed a downward trend in the second quarter. The CPI report raised expectations that the Federal …
Stocks hit record highs, yields fall; US CPI raises rate cut hopes Read More »
By Herbert Lash NEW YORK (Reuters) -The dollar slumped against major currencies on Wednesday after U.S. consumer prices in April showed inflation had resumed trending lower in the second quarter, raising hopes the Federal Reserve can deliver an interest rate cut as early as September. Also boosting optimism that the Fed was closer to a …
Dollar swoons after data suggests rate cut in September Read More »
By Scott DiSavino NEW YORK (Reuters) – Oil prices rose nearly 1% on Wednesday from a two-month low in the prior session as the market balanced bullish U.S. economic and crude storage data against the International Energy Agency’s (IEA) forecast for weaker global oil demand growth. Brent futures rose 37 cents, or 0.5%, to settle …
Oil rebounds, gains 1% after US crude draw, lukewarm inflation data Read More »
COTONOU (Reuters) – Benin has provisionally reversed its decision to block exports of crude oil from Niger via its port and agreed to hold a meeting between the two countries, the West African nation’s mines minister said on Wednesday. Last week in an escalation of tensions with its neighbour, Benin said it had blocked exports …
Benin provisionally reverses ban on oil exports from Niger Read More »
