By Herbert Lash NEW YORK (Reuters) -A gauge of global equity markets lost steam on Friday but still set a new high amid optimism over Nvidia’s potent results, while Treasury yields fell as the market bet that the Federal Reserve will not cut interest rates until at least June. Wall Street mostly extended gains as …
Stocks eke out gain as Nvidia rally slows, yields slip Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices fell nearly 3% lower on Friday and posted a weekly decline after a U.S. central bank policymaker indicated interest rate cuts could be delayed by at least two more months. Brent crude futures settled down $2.05, or 2.5%, at $81.62 a barrel, while U.S. West Texas Intermediate …
Oil ends lower, posts weekly decline as US rate cut hopes dim Read More »
By Karen Brettell NEW YORK (Reuters) -The U.S. dollar index was on track for its first weekly fall in 2024 on Friday as investors took a breather from buying the currency following an almost two-month rally built on expectations that the Federal Reserve will begin cutting rates later than previously expected. Investors have pushed back …
Dollar index on track for first weekly fall this year Read More »
(This Feb. 21 story has been corrected to say annual core inflation rose to 4.6%, not 4.7%, in paragraph 5) JOHANNESBURG (Reuters) – South Africa’s headline consumer inflation quickened to 5.3% year on year in January from 5.1% in December, data showed on Wednesday. Key contributors to the annual inflation rate included food, housing, utilities …
By Patrick Werr and Karin Strohecker CAIRO (Reuters) -Egypt said on Friday it had signed a deal with the United Arab Emirates to develop a prime stretch of its Mediterranean coast that would bring $35 billion of investments to the indebted country over the next two months. The deal with ADQ, the smallest of Abu …
Egypt announces $35 billion UAE investment on Mediterranean coast Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – Nigeria is set for two aggressive interest rate hikes within a little over a month to subdue inflation and boost the naira after a couple of missed monetary policy meetings, a Reuters poll found on Friday. A survey taken in the past week suggests that Nigeria’s monetary policy rate …
Nigeria set for two aggressive interest rate hikes in Q1: Reuters poll Read More »
PARIS (Reuters) – The Financial Action Task Force (FATF) international crime watchdog on Friday added Kenya and Namibia to its ‘grey list’ of countries that need increased monitoring, due to inadequate curbs against money laundering and terrorism financing. “At this Plenary, the FATF added Kenya and Namibia to the list of jurisdictions subject to increased …
FATF financial crime watchdog adds Kenya and Namibia to its ‘grey list’ Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Friday, extending the previous day’s losses to hit its lowest level since October, with analysts citing the impact of this week’s 2024 budget on investor sentiment. At 1512 GMT, the rand traded at 19.3650 against the U.S. dollar, almost 1% weaker than its previous close. The dollar …
South African rand extends losses in budget aftermath Read More »
By Frank Phiri BLANTYRE (Reuters) -Malawi expects its economy to grow by 3.2% in 2024, up from 1.5% last year, as its foreign exchange reserves improve, its finance minister said in a budget speech on Friday. The southern African country has been battling foreign-currency shortages that have led to a lack of fuel, medicines and …
Malawi forecasts improved growth as forex reserves recover Read More »
JOHANNESBURG (Reuters) – South African pharmacy chain Dis-Chem Pharmacies said on Friday it recorded revenue growth of 12.2% in the period from Sept. 1 to Jan. 28, helped by strong sales growth in its personal care and beauty category as well as in baby products. In a tough macro environment, the consumer-facing industry is struggling …
South Africa’s Dis-Chem sales rise 12.2% on strong retail revenue Read More »
