JOHANNESBURG (Reuters) -South Africa’s rand edged lower on Tuesday after local budget balance and money supply figures, as investors braced for the Federal Reserve’s monetary policy decision later this week. At 1605 GMT, the rand traded at 18.8500 against the dollar, about 0.2% weaker than its previous close. The dollar index was last up 0.05% …
South African rand edges lower after budget balance, money supply Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s central bank has made an additional payment of $64.44 million of verified foreign exchange backlog owed to airlines, bringing total payments to $136.73 million, a spokesperson said on Tuesday. Africa’s biggest economy has about $7 billion in forex forwards that have matured, a major concern for investors as …
Nigeria’s central bank clears additional $64 million FX backlog Read More »
By Crispian Balmer ROME (Reuters) – Kenya is looking to buy back in February or March at least some of its $2 billion Eurobond, President William Ruto told Reuters on Tuesday, dismissing any risk the country would default. Falling hard currency reserves, a steep weakening of the local currency and revenue challenges have raised questions …
Kenya looking at Eurobond buyback in Feb or March, President Ruto says Read More »
JOHANNESBURG (Reuters) -South African discount retailer Pepkor Holdings reported on Tuesday a 7.2% rise in sales in the Christmas quarter from a year earlier despite the negative impact on stock inflows from port congestion at home. The PEP and Ackermans clothing brands owner said group revenue rose to 26 billion rand ($1.38 billion) in the …
Discount retailer Pepkor’s sales up 7.2% in Christmas quarter Read More »
By Rachel Savage and Kopano Gumbi JOHANNESBURG (Reuters) – The flagship debt restructuring process for low income countries needs to speed up, otherwise there could be a series of “disorderly” sovereign debt defaults, an International Monetary Fund official said on Tuesday. A clearer understanding is needed of what it means to treat creditors equally in …
Debt relief delays could mean ‘disorderly’ defaults: IMF official Read More »
JOHANNESBURG (Reuters) -Shoprite, South Africa’s biggest supermarket group, reported on Tuesday a nearly 14% jump in its half-year sales, supported by a record Black Friday and festive season as cash-strapped shoppers and upmarket consumers went after food deals. The retailer, with more than 2,900 stores across Africa, said group sales for the six-month period ended …
Black Friday, holiday sales spur demand at S.Africa’s Shoprite Read More »
By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) – Global stocks surged on Monday, with the S&P 500 closing at a new record close and European shares hitting a two-year high, as markets slashed ambitious bets at the end of 2023 on interest rate cuts by the Federal Reserve and other central banks. MSCI’s …
Stocks surge, bond yields slip ahead of Fed decision Read More »
ABUJA (Reuters) -Nigeria on Monday said the “unelected” military authorities in Niger, Mali, and Burkina Faso were letting their people down with their joint decision to leave the Economic Community of West African States (ECOWAS). Nigeria, which is the current chair of the political and economic bloc, was commenting for the first time on the …
ECOWAS chair Nigeria slams juntas’ move to quit bloc Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices fell more than a dollar a barrel on Monday as China’s ailing property sector sparked demand worries, causing traders to reassess the supply risk premium from escalating tensions in the Middle East. Brent crude futures fell $1.15, or 1.4%, to settle at $82.40 a barrel, while U.S. …
Oil drops as China demand concerns counter supply jitters Read More »
By Karen Brettell and Samuel Indyk NEW YORK (Reuters) -The dollar gained against the euro on Monday as investors prepared for the prospect that the Federal Reserve could push back against expectations of an imminent rate cut when it concludes its two-day meeting on Wednesday. Traders have cut odds that the U.S. central bank will …
