By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar rose on Thursday as a mixed batch of U.S. data did little to shake views that the economy is still on solid ground, suggesting the Federal Reserve will likely delay the timing of its first interest rate cut since 2020 to later this year. Comments from New …
US dollar gains after strong data, Fed comments on rate cuts Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices held near a three-week low on Thursday as investors weighed mixed U.S. economic data, U.S. sanctions on Venezuela and Iran and easing tensions in the Middle East. Brent futures fell 18 cents, or 0.2%, to settle at $87.11 a barrel, while U.S. West Texas Intermediate (WTI) crude …
Oil holds near 3-week low as US sanctions interrupt easing tensions Read More »
CASABLANCA (Reuters) – Royal Air Maroc has launched a tender to buy new planes as Morocco’s flagship carrier, one of Africa’s largest, expands to meet growing travel demand, CEO Abdelhamid Addou said on Thursday. “The tender has been launched on April 15,” Addou told Reuters. RAM plans to quadruple its fleet within a decade as …
Royal Air Maroc tenders for new planes, CEO says Read More »
DUBAI (Reuters) – The International Monetary Fund said on Thursday Middle East economies would grow at a slower pace this year than it previously projected as the war in Gaza, attacks on Red Sea shipping and lower oil output add to existing challenges of high debt and borrowing costs. The IMF revised down its 2024 …
IMF revises down Mideast growth outlook on war, trade disruptions Read More »
JOHANNESBURG (Reuters) – South African online fashion retailer Zando on Thursday launched an international e-commerce division called Zando Global in the hopes of taking on fast-fashion Chinese e-commerce retailers Shein and Temu at home. The rapid rise of Shein and Temu – driven by robust demand for their low-priced apparel like $10 tops and $5 …
Zando launches international unit to counter Shein and Temu in South Africa Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Thursday, taking its cues from a stronger dollar in the absence of major data releases. At 1558 GMT, the risk-sensitive rand traded at 19.1500 against the dollar, about 0.7% weaker than its previous close. The dollar index was last trading up around 0.04% against a basket of currencies. …
South African rand weakens as dollar edges higher Read More »
(Reuters) – South Africa’s Sibanye Stillwater will close its 4 Belt shaft at Marikana and shed 855 jobs after failing to return it to profitability due to low platinum group metal (PGM) prices, the company said on Thursday. The diversified miner, like its industry peers Anglo American Platinum and Impala Platinum, is restructuring to contain …
Sibanye cuts more jobs after shutting loss-making Marikana shaft Read More »
By Karin Strohecker WASHINGTON (Reuters) – South Africa will use future drawdowns of its Gold and Foreign Exchange Contingency Reserve Account to curb its debt burden, Finance Minister Enoch Godongwana said, adding he was pondering tax hikes and expenditure cuts in the next post-election budget. Africa’s most industrialised nation is grappling with an ailing economy …
S.Africa contingency reserves won’t be spent on Eskom, Transnet, finance minister says Read More »
By Federico Maccioni DUBAI (Reuters) – The CEO of cryptocurrency exchange Binance said on Thursday the company is working very closely with Nigerian authorities following the detention of its head of financial crime compliance. A Nigerian court has adjourned until May 2 a case against the executive, Tigran Gambaryan, and another Binance official, who are …
Binance working closely with Nigeria authorities to resolve exec’s detention, CEO says Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s central bank is now predicted to deliver only 50 basis points of interest rate cuts this year, less than earlier projected as inflation is seen taking slightly longer to return to the Reserve Bank’s comfort zone, a Reuters poll found. A cut of 25 bps to 8.00% …
S.Africa’s central bank to cut rates less than earlier thought in 2024: Reuters poll Read More »
