(Reuters) – The dollar hit a fresh seven-month low on Tuesday with traders bracing for comments from Federal Reserve Chair Jerome Powell due on Friday, which could provide clues about the speed of the U.S. monetary easing cycle. Meanwhile, Sweden’s crown fell after swinging up and down in morning trade as the central bank cut …
Dollar hits 7-month low before Powell, Swedish crown volatile after rate cut Read More »
By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) – Ghana’s cocoa regulator Cocobod will not raise a syndicated loan for its 2024/25 cocoa season for the first time in over three decades, Chief Executive Joseph Boahen Aidoo said on Tuesday. He added that the season would open on Sept. 1, earlier than usual, with …
Ghana cocoa regulator will not raise a syndicated loan for the 2024/25 season, CEO says Read More »
By Scott DiSavino (Reuters) -Oil prices fell about 1% to a two-week low on Tuesday as Middle East supply concerns eased after Israel accepted a proposal to tackle disagreements blocking a ceasefire deal in Gaza, and as economic weakness in China weighed on fuel demand. Brent futures for October delivery fell 46 cents, or 0.6%, …
Oil settles down 1% as Middle East tensions ease, China data weak Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices extended their record run on Tuesday, holding firm above the key $2,500 level, driven by a weaker dollar and growing investor confidence that the Federal Reserve will likely cut interest rates in September. Spot gold rose 0.3% to $2,510.35 per ounce by 01:44 p.m. ET [1744 GMT], …
Gold extends record rally on dollar weakness, rate-cut bets Read More »
(Reuters) – South Africa’s Transnet is seeking debt relief from the government as it seeks to repair its balance sheet and restore freight rail and port capacity, the state-owned logistics firm’s chairman said on Tuesday. Transnet is saddled with 130 billion rand ($7.30 billion) in debt and has struggled to provide adequate freight rail and …
South Africa’s Transnet seeks debt relief from government Read More »
JOHANNESBURG (Reuters) – The South African rand weakened on Tuesday ahead of local inflation data, as markets awaited clues on both domestic and U.S. interest-rate paths this week. At 1514 GMT, the rand traded at 17.8625 against the dollar, 0.95% softer than its previous close. Investor focus on Wednesday will be on South Africa’s July …
South African rand weakens ahead of local inflation data Read More »
By Edwin Okoth NAIROBI (Reuters) – In eight years of working as a taxi driver in Kenya’s capital, Judith Chepkwony has never seen business this bad. A bruising price war between ride-hailing companies Uber Technologies, Estonia’s Bolt and local start-ups Little and Faras has driven fares down to a level that many drivers say is …
Hard-pressed Kenyan drivers defy Uber’s algorithm, set their own fares Read More »
By Andrew Mills DOHA (Reuters) -Qatar Airways will take a 25% stake in South Africa-based regional carrier Airlink as both airlines seek to boost services and passenger numbers across Africa, they said on Tuesday. Qatar Airways CEO Badr Mohammed Al Meer, speaking alongside Airlink’s CEO Rodger Foster in Doha, told reporters the investment would boost …
Qatar Airways to make 25% equity investment in South African carrier Airlink Read More »
By Nelson Banya (Reuters) -Sasol will take “decisive action” following a review of its underperforming chemicals units, CEO Simon Baloyi said on Tuesday after the South African petrochemicals company announced a $3 billion asset writedown due to depressed prices. Sasol’s shares were down 6.3% at 1120 GMT after it posted a 27.3 billion rand ($1.54 …
Sasol to act on underperforming assets after $3 billion writedown Read More »
By Hereward Holland NAIROBI (Reuters) -Kenya’s top court on Tuesday suspended a lower court’s ruling that the 2023 finance law was unconstitutional, saying it was important to preserve stability in the budget until the merits of the government’s appeal are heard next month. The finance bills, presented to parliament at the start of every financial …
Kenya’s top court suspends judgment nullifying 2023 finance law Read More »
