JOHANNESBURG (Reuters) – The South African rand strengthened against a weaker dollar on Monday, as investors awaited key U.S. data that could offer clues on the Federal Reserve’s future interest rate path. At 1625 GMT, the rand traded at 18.3400 against the dollar, around 0.5% stronger than its previous close. The dollar was last down …
South African rand firms against weaker dollar; US data in focus Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Vodacom Group on Monday reported a 10.8% decline in full-year earnings, impacted by start-up losses in Ethiopia and rising costs, but upgraded its group service revenue target thanks to its Egyptian unit and performance of new services. The South African company, majority-owned by Britain’s Vodafone, co-launched Safaricom Ethiopia in 2022 …
Vodacom profit hit by Ethiopia start-up loss, upgrades service revenue target Read More »
NAIROBI (Reuters) – Kenya’s Equity Group Holdings said on Monday first-quarter pretax profit rose 21% to 20.4 billion shillings ($155.73 million), helped by growth in interest income. Equity, which also operates in Uganda, Tanzania, Rwanda, Burundi, South Sudan and Democratic Republic of Congo, said its net interest income was up 28% at 27.8 billion shillings. …
Kenya’s Equity Group first-quarter pretax profit rises 21% Read More »
(Reuters) -Internet connectivity was disrupted in and around several East African nations on Sunday, the internet observatory Netblocks said, adding that the incident was linked to failures affecting the SEACOM and EASSy subsea cable systems. Tanzania and the French island of Mayotte were experiencing a high impact on internet connectivity, while Mozambique and Malawi were …
East Africa sees internet connectivity disruption, Netblocks and Cloudflare say Read More »
NIAMEY (Reuters) – Niger’s Prime Minister Ali Mahaman Lamine Zeine said on Saturday that Benin’s blockade of Niger’s oil exports, imposed in response to a border closure, violated trade agreements between the two countries and with Niger’s Chinese partners. Speaking at a press conference in the capital Niamey, Zeine said Niger could not fully reopen …
Niger PM says Benin’s oil export blockade violates accords Read More »
By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) -A rally in global equity markets lifted stocks in Europe to record highs on Friday amid strong corporate earnings and hopes central bank interest rate cuts are near, while the dollar edged higher despite signs of slowing U.S. economic growth. European shares posted their biggest weekly …
Global stocks rally, Europe at record highs, dollar gains Read More »
By Laila Kearney NEW YORK (Reuters) -Oil prices fell by nearly $1 a barrel on Friday as comments from U.S. central bank officials indicated higher-for-longer interest rates, which could hinder demand from the world’s largest crude consumers. Brent crude futures settled at $82.79 a barrel, down $1.09, or 1.3%. U.S. West Texas Intermediate crude settled …
Oil falls on prospect of higher-for-longer US rates, stronger dollar Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar inched higher on Friday following a reading on U.S. consumer sentiment as investors sorted through a batch of comments from Federal Reserve officials, with the focus beginning to turn toward key inflation readings next week. The greenback pared declines and turned modestly higher after the University of …
Dollar up slightly after consumer sentiment data, CPI eyed Read More »
JOHANNESBURG (Reuters) – South Africa’s rand was little changed on Friday, ahead of U.S. inflation data next week that could hint at the future interest rate path in the world’s biggest economy. At 1506 GMT, the rand traded at 18.4625 against the dollar, near its previous close of 18.4550. The dollar index was last trading …
South African rand little changed, focus on US inflation data next week Read More »
HARARE (Reuters) – Zimbabwe will fine businesses using inflated exchange rates as the government battles to maintain the value of its newly introduced gold-backed currency, the Zimbabwe Gold (ZiG). Any business using an exchange rate higher than the official rate of 13.5 ZiG per U.S. dollar will be liable for a fine of 200,000 ZiG …
Zimbabwe to fine businesses not using official new exchange rate Read More »
