By Sinéad Carew and Caroline Valetkevitch NEW YORK (Reuters) -A global equity index scaled a record high while Treasury yields fell sharply on Friday after weak U.S. economic data and comments from Federal Reserve officials bolstered expectations for interest rate cuts later this year. The Institute for Supply Management (ISM) said its manufacturing PMI fell …
Stocks climb, yields fall as data supports rate cut bets Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices rose 2% on Friday and posted weekly gains as traders awaited an OPEC+ decision on supply agreements for the second quarter while also weighing fresh U.S., European and Chinese economic data. Brent futures for May settled $1.64 higher, or 2%, at $83.55 a barrel. The April Brent …
Oil climbs 2%, notches weekly gains ahead of OPEC+ decision Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar fell against the euro on Friday on weaker than expected U.S. economic data but gained against the Japanese yen after Bank of Japan (BOJ) governor Kazuo Ueda said it was too soon to declare victory on inflation. In cryptocurrencies, bitcoin held just below a more than two-year …
Dollar dips on weak data, yen hurt by cautious BOJ Read More »
ABU DHABI (Reuters) – Members of the World Trade Organization have agreed to extend a moratorium on tariffs on electronic commerce for another two years at a high-level meeting, according to a document released on Friday, although it still needs formal approval. “We agree to maintain the current practice of not imposing customs duties on …
Moratorium on e-commerce tariffs extended for 2 years, draft WTO document says Read More »
TUNIS (Reuters) – Tunisia has raised its drinking water prices by up to 16%, the official gazette said on Friday, in response to a drought that has lasted five years. After years of drought, average rainfall has increased in recent months but government officials said this week that Tunisian dams have only reached 35% of …
Tunisia raises drinking water prices by up to 16% due to drought Read More »
By Elisha Bala-Gbogbo ABUJA (Reuters) – Nigeria’s central bank said on Friday it had revoked the licences of 4,173 exchange bureaus that failed to comply with its guidelines and directives, including rendering returns of transactions and payment of required renewal fees within the due period. The central bank, which resumed dollar sales to exchange bureaus …
Nigeria’s central bank revokes licences of 4,173 exchange bureaus Read More »
JOHANNESBURG (Reuters) -South Africa’s rand was broadly stable on Friday after a local purchasing managers’ index (PMI) survey showed factory activity bouncing back last month. At 1508 GMT, the rand traded at 19.1775 against the dollar, not far from its previous close. The dollar index was also little changed. South African manufacturing activity recovered in …
South African rand little changed after local PMI survey Read More »
CAPE TOWN (Reuters) – South Africa’s Eskom should split its coal-fired plants from the rest of its generation business to free them from company bureaucracy in order to tackle the country’s economically crippling power cuts, an independent report has found. Publication of the report, commissioned by South Africa’s National Treasury and compiled by the European-based …
Eskom report calls for coal plant overhaul to tackle power cuts Read More »
TUNIS (Reuters) -A judge on Friday released a top official in Tunisia’s biggest labour union, one day after he was detained, the union said. The Tunisian General Labour Union (UGTT) denounced the detention of Tahar Mezzi on Thursday, saying it was a politically motivated attempt to undermine union rights. Mezzi is the deputy secretary-general and …
Tunisian judge releases union leader after one-day detention Read More »
JOHANNESBURG (Reuters) -Africa’s biggest telecoms operator MTN Group flagged on Friday an up to 80% fall in full-year profit as a sharp devaluation in the Nigerian naira pushed its biggest unit MTN Nigeria to a loss. South Africa-headquartered MTN said its headline earnings per share – one of the main profit measures – would fall …
South Africa’s MTN flags 2023 profit slump on naira devaluation Read More »
