(Reuters) – Zimplats will reduce its headcount by 1% as it implements broad cost cuts to survive a sharp fall in platinum group metal (PGM) prices, CEO Alex Mhembere said on Wednesday. Zimbabwe’s biggest platinum producer announced in March it was offering voluntary job cuts in an attempt to contain costs amid declining revenues. Southern …
Zimplats to cap job cuts at 1% of workforce, CEO says Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled lower for a second day on Tuesday, as talks for a ceasefire in Gaza continued, but losses were limited to less than a dollar a barrel as Egyptian and Qatari mediators met resistance in their search to find a way out of the war. The talks in …
Oil prices settle lower again, eyes on talks for Gaza ceasefire Read More »
By Sinéad Carew and Samuel Indyk NEW YORK/LONDON (Reuters) -MSCI’s global equity gauge rose slightly on Tuesday while U.S. Treasury yields fell from a more than 4-month high as investors anxiously awaited a U.S. inflation reading and the kick-off of first-quarter earnings. Oil prices dipped for a second straight day as talks on a ceasefire …
Equities barely gain, Treasury yields fall with US inflation in focus Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar was little changed on Tuesday, with investors cautious ahead of U.S. inflation data to be released on Wednesday, even as the yen hovered near multi-decade lows, keeping traders on alert for any possible action from Japan to prop up its currency. Economists expect the headline U.S. consumer …
US dollar flat as investors await inflation data; focus on yen action Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Tuesday, ahead of U.S. inflation data and Federal Reserve meeting minutes due on Wednesday. At 1527 GMT, the rand traded at 18.47 against the U.S. dollar, about 0.9% stronger than its previous close. The dollar index was last trading up 0.02% against a basket of currencies. There were …
South African rand firms ahead of U.S. inflation figures Read More »
KAMPALA (Reuters) – Uganda’s foreign exchange reserves fell by about 12% between June 2023 and January this year because of external debt payments and the central bank’s inability to buy foreign currency due to a slide in the Ugandan shilling. Reserves dropped from $4.07 billion in June to about $3.58 billion at the end of …
Ugandan foreign exchange reserves drop 12% due to debt payments Read More »
LONDON (Reuters) – In an election-packed year, markets have so far shrugged off results, with the focus squarely on the one contest that could reverberate across everything from international trade to emerging market debt: the United States presidential race in November. Voters in India, meanwhile, will cast ballots later this month, with self-styled strongman Narendra …
How an election-packed 2024 is shaping up for world markets Read More »
By Felix Njini JOHANNESBURG/WASHINGTON (Reuters) – The U.S. must boost commercial ties with African countries to curb reliance on China for supplies of critical minerals, a Washington-based think tank said on Tuesday. “U.S. economic and national security depend on securing a reliable supply of critical minerals, including from Africa,” the United States Institute of Peace …
US must boost Africa ties to secure key minerals, report says Read More »
WASHINGTON (Reuters) – The International Monetary Fund on Monday said its staff reached agreement with authorities from Ivory Coast on a review of two lending programs, which will pave the way for disbursement of $574 million, once approved by the IMF’s executive board. The IMF said Ivory Coast’s performance under its $3.5 Extended Fund Facility …
IMF reaches staff-level deal with Ivory Coast, paving way for $574 million disbursement Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices fell on Monday, ending a multi-session rally after Israel reduced its troops in southern Gaza and began a fresh round of ceasefire talks with Hamas. Brent crude futures fell 79 cents, or 0.9%, to settle at $90.38 a barrel and U.S. West Texas Intermediate crude closed down …
Oil falls on renewed push for Middle East ceasefire Read More »
