JOHANNESBURG (Reuters) -The South African rand weakened to an eight-month low on Friday after U.S. non-farm payrolls data reinforced bets that the Federal Reserve will pause its rate-cutting cycle later this month. At 1501 GMT, the rand traded at 19.1375 against the U.S. dollar, about 1.1% softer than its previous close. It earlier hit 19.2050 …
South African rand plunges to 8-month low after US jobs data Read More »
By Ron Bousso LONDON (Reuters) -Shell will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country’s efforts to become a crude producer. Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia “cannot currently be …
Shell writes down Namibia oil discovery in blow to country Read More »
UNITED NATIONS/NEW DELHI (Reuters) – Global economic growth is projected to remain at 2.8% in 2025, unchanged from 2024, held back by the top two economies, the U.S. and China, according to a United Nations report released on Thursday. The World Economic Situation and Prospects report said that “positive but somewhat slower growth forecasts for …
UN predicts world economic growth to remain at 2.8% in 2025 Read More »
JOHANNESBURG (Reuters) -South Africa’s rand was steady on Thursday as investors mulled over the outlook for U.S. interest rates and the potential for aggressive tariffs by President-elect Donald Trump. At 1512 GMT, the rand traded at 18.90 against the dollar, not far from its previous close. This week, investors have been digesting reports about Trump’s …
(Reuters) – London-listed telecoms firm Airtel Africa said on Thursday that Chief Financial Officer Jaideep Paul would retire after the company’s annual general meeting in July. The company, which has operations in 14 African countries, said Paul, 63, will take up a new position within the wider Bharti Group, and will be replaced by Deputy …
By Nicole Jao NEW YORK (Reuters) -Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains driven by tightening supplies from Russia and other OPEC members. Brent crude settled down 89 cents, or 1.16%, to $76.23 a barrel. U.S. …
Oil prices down on US fuel stocks build, dollar strength Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The U.S. dollar rose for a second straight session on Wednesday as U.S. bond yields continued their recent advance, following a report that President-elect Donald Trump was contemplating the use of emergency measures to allow for a new tariff program. The yield on the benchmark 10-year U.S. Treasury note …
Dollar up as US 10-yr yield hits 8-1/2 month high on tariff report Read More »
By Sonia Rolley (Reuters) – Rebels in eastern Democratic Republic of Congo fraudulently exported at least 150 metric tons of coltan to Rwanda last year, leading to the largest contamination of the Great Lakes Region’s mineral supply chain on record, U.N. experts said in a report. The flows started after the M23 movement, a Tutsi-led …
Congo rebels muddy minerals market with illegal Rwanda exports, says UN report Read More »
By Chris Mfula LUSAKA (Reuters) -Zambia’s kwacha has hit a series of record lows since the start of the year as a severe drought keeps the pressure firmly on the copper-producing Southern African country’s economy. Analysts had hoped Zambia’s emergence from default early last year would have helped sentiment, but the currency is now roughly …
Zambia’s currency stuck at record low as drought persists Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened as a buoyant dollar and disappointing domestic economic data releases weighed on the local currency on Wednesday. At 1510 GMT, the rand traded at 18.87 against the U.S. dollar, about 0.9% weaker than its previous close. It earlier hit 18.97 per dollar, a level not seen since early June …
South African rand slips to seven-month low on strong dollar, weak data Read More »
