LONDON (Reuters) – S&P Global Ratings says it has been encouraged by the rush of financial support Egypt has seen in the last two weeks, including a $35 billion UAE investment to develop the Ras al-Hikma peninsula on its Mediterranean coast and an $8 billion IMF deal. Since securing the deal with the Emirati sovereign …
S&P upbeat on Egypt rating after $35 billion UAE deal Read More »
CAIRO (Reuters) – Egyptian inflation is expected to have fallen for a fifth month in February because of a favourable base effect, a Reuters poll showed on Friday, as analysts watch for the impact of a sharp devaluation and interest rate hike this week. Annual urban consumer inflation is forecast to slow to 25.1% in …
Egypt inflation forecast to slow again in February Read More »
JOHANNESBURG (Reuters) – South Africa’s rand was trading at its strongest level in over a month early on Friday, after a week of gains supported by surging gold prices. At 0640 GMT, the rand traded at 18.6850 against the U.S. dollar, about the same as its previous close. It was the strongest level seen since …
South African rand set to end week on stronger note Read More »
By Nafisa Eltahir CAIRO (Reuters) -Egyptian officials said they expected more inflows and the pound held steady on Thursday, a day after the central bank announced a shift to a more flexible exchange rate and let the currency plunge as Egypt secured an expanded $8 billion IMF programme. The pound hovered just under 49.5 to …
Egyptian pound steadies after devaluation, IMF deal Read More »
By Alden Bentley and Marc Jones NEW YORK/LONDON (Reuters) -Global stock indexes rallied to record highs on Thursday, while government bond yields fell after the European Central Bank held interest rates steady and Federal Reserve Chair Jerome Powell reiterated that easing was likely in 2024 if inflation behaved. The yield on benchmark 10-year U.S. Treasury …
Shares rally to records ahead of US jobs report, yields and dollar down Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar fell across the board on Thursday, as Federal Reserve Chair Jerome Powell said the U.S. central bank is “not far” from getting enough confidence that inflation is heading to its 2% goal to start cutting interest rates. The euro initially stumbled after the ECB kept …
Dollar hurt by ‘dovish’ Powell; yen up on BOJ policy shift speculation Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices were little changed on Thursday as markets weighed new economic data from China against increasing supply from the Western Hemisphere. Brent crude futures settled flat at $82.96 a barrel. U.S. West Texas Intermediate crude futures ended 20 cents lower at $78.93. China’s import and export growth beat …
Oil prices nearly flat as market weighs Chinese demand, North America supply increase Read More »
By Patrick Werr (Reuters) – Foreign investors have resumed purchases of Egyptian treasury bills after a long absence, three bankers said, as results posted by the central bank showed local currency one-year bills nearly three times oversubscribed at an auction on Thursday. The central bank results showed one-year T-bills worth 87.8 billion Egyptian pounds ($1.78 …
Foreign investors return to Egyptian T-bill auction after devaluation, bankers say Read More »
NEW YORK (Reuters) – The International Monetary Fund will assess the economic impact of a devastating drought on Zambia in a visit tentatively scheduled for mid-April, the fund said on Thursday. Zambia is planning to start rationing electricity next week as a devastating drought that has been declared a national disaster affects hydropower generation, as …
IMF review mission to Zambia tentatively scheduled for mid-April Read More »
JOHANNESBURG (Reuters) -South Africa’s rand firmed on Thursday against a weaker U.S. dollar, after U.S. Federal Reserve Chair Jerome Powell suggested rate cuts will likely come later this year. At 1552 GMT, the rand traded at 18.7150 against the dollar, 0.6% stronger than its previous close. The dollar was last trading down 0.36% against a …
