JOHANNESBURG (Reuters) -South Africa’s rand extended its losses on Tuesday as risk appetite fell amid heightened tensions in the Middle East and dwindling bets that the Federal Reserve would cut interest rates any time soon. At 1541 GMT, the rand traded at 19.0300 against the U.S. dollar, about 0.2% weaker than its previous close. The …
South African rand extends losses as risk sentiment sours Read More »
JOHANNESBURG (Reuters) -Volkswagen plans to invest 4 billion rand ($210.67 million) in its South African manufacturing plant in the Eastern Cape in preparation to manufacture a new SUV from 2027, it said on Tuesday. South Africa is the largest automotive manufacturing hub on the African continent, hosting global brands such as Toyota, Isuzu, Volkswagen and …
Volkswagen to invest $210 million in South African plant Read More »
By Stephen Culp NEW YORK (Reuters) -Wall Street ended sharply lower on Monday amid rising U.S. Treasury yields as simmering tensions in the Middle East helped curb investor risk appetite. The three major U.S. stock indexes reversed initial gains to extend Friday’s sell-off, while the yen fell to its lowest level in 34 years, reviving …
US stocks tumble as Treasury yields rise, Middle East tensions simmer Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar reached its highest since early November against a basket of currencies on Monday and sent the yen to its lowest level since 1990, after U.S. retail sales increased more than expected in March. Retail sales rose 0.7% last month and data for February was revised higher to …
Dollar jumps, yen weakest since 1990 after strong U.S. retail sales Read More »
By Laila Kearney NEW YORK (Reuters) -Oil prices slipped lower on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could displace crude barrels. Brent futures for June delivery settled at $90.10 a barrel, down 35 cents, or 0.4%. U.S. crude futures …
Oil prices slip after Iran attack, US economic data Read More »
By Rachel Savage and Maxwell Akalaare Adombila JOHANNESBURG/ACCRA (Reuters) -Ghana has failed to secure a workable debt deal with two bondholder groups in its push to restructure $13 billion of international bonds, the government said on Monday, in a blow to its efforts to swiftly emerge from default and economic crisis. Formal talks were on …
Ghana fails to reach debt deal with international bondholders Read More »
By Natalie Grover and Wendell Roelf LONDON (Reuters) – The OPEC+ oil producers group, having lost Angola and other players in recent years, is eyeing Namibia for possible membership as it sets up what could be Africa’s fourth-largest output by the next decade, an African industry official and sources told Reuters. TotalEnergies and Shell in …
OPEC woos Namibia as African nation prepares to produce from 2030 Read More »
JOHANNESBURG (Reuters) – South Africa’s rand weakened against the U.S. dollar on Monday as markets remained cautious with tensions rising in the Middle East. At 1516 GMT, the rand traded at 19.0200 against the dollar, about 0.75% weaker than its previous close. The dollar index was last trading up about 0.18% against a basket of …
South African rand weakens against dollar with focus on Middle East Read More »
By Isaac Anyaogu LAGOS (Reuters) -Nigeria’s creaking grid collapsed for the fifth time this year in the early hours of Monday, highlighting the country’s inability to provide reliable power less than two weeks after raising tariffs for wealthier consumers by 230%. A fire erupted at a power generating station in the south just before 3 …
Nigeria’s grid collapses weeks after tariffs raised for wealthier consumers Read More »
By Libby George LONDON (Reuters) -Emerging countries will pay a record $400 billion to service external debt this year, and 47 of them cannot spend the money they need for climate adaptation and sustainable development without risking default in the next five years, according to a report released on the eve of IMF/World Bank spring …
Huge debt costs mean climate spending could make emerging nations insolvent Read More »
