JOHANNESBURG (Reuters) -South Africa’s rand firmed against the dollar on Tuesday, recovering from the lows hit a day earlier, ahead of local inflation data. At 1548 GMT, the rand traded at 19.0625 against the dollar, 0.74% stronger than its previous close. On Monday it sunk to its lowest against the greenback in more than three …
South African rand recovers from three-month lows Read More »
By Lisa Pauline Mattackal and Medha Singh (Reuters) – Bitcoin celebrated its 15th birthday this month by bursting onto Wall Street with an ebullient bang. Now the adolescent asset may have to grow up fast. Investors have embraced 11 U.S. exchange traded funds (ETFs), tracking bitcoin’s spot price, that began trading on Jan. 11 after …
Cryptoverse: Will bitcoin behave better on Wall Street? Read More »
By Elias Biryabarema KAMPALA (Reuters) -Uganda is negotiating with an investment company led by a member of Dubai’s royal family to develop a planned $4 billion refinery for some of its crude oil, its energy minister said on Tuesday. Uganda in July last year terminated negotiations with a consortium that included a unit of U.S. …
Uganda in talks with UAE investment firm over planned oil refinery Read More »
JOHANNESBURG (Reuters) – South African pharmacy chain Clicks Group said on Tuesday retail sales for its 20-week period rose by 11.8% driven by strong festive season trading and growth in personal care, beauty and essentials such as cleaning products. Sales in comparable stores increased by 8.4% in the first 20 weeks of its 2024 financial …
South Africa’s Clicks 20-week sales boosted by strong festive season Read More »
ADDIS ABABA (Reuters) -Ethiopian state-owned telecoms company Ethio Telecom said on Tuesday that its half-year earnings rose, helped by rising revenues. Earnings before interest, tax, depreciation and amortization (EBITDA) were up 14% to 19.77 billion birr ($352.23 million), while revenues in the same period were up 26% to 42.86 billion birr, Chief Executive Officer Frehiwot …
Ethio Telecom reports higher half-year earnings and revenues Read More »
Johannesburg (Reuters) – South African retailer Woolworths expects its half-year profit to fall by as much as 10% due to consumers pulling back on spending on clothes and as the country’s energy and logistics crisis persisted. The food, fashion and beauty retailer, which targets the mid- to upper-income segment of the country, said its headline …
South Africa’s Woolworths flags lower half-year profit as shoppers spend less Read More »
NAIROBI (Reuters) – Burundi’s economy is projected to expand 4.3% this year from 2.7% in 2023, helped by improved performance in the agriculture sector, the International Monetary Fund said. With a population of 12 million, Burundi’s economy relies heavily on agriculture revenues, especially from tea and coffee. “Growth is projected to accelerate … supported by …
Burundi economy to expand 4.3% in 2024 vs 2.7% last year – IMF Read More »
By Sinéad Carew NEW YORK (Reuters) – MSCI’s global equities index rose on Monday as Wall Street fed on momentum that took it to a new record high last week, while the U.S. dollar index edged up slightly. U.S. Treasury yields fell as investors took advantage of a recent decline in bond prices to enter …
Global stock index gains while US Treasury yields fall Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar was little changed to modestly higher against a basket of currencies on Monday ahead of central bank policy decisions in Japan and the euro zone that may determine the currency’s direction this year. Japan’s yen moved away from Friday’s 148.80 per U.S. dollar, its weakest in …
US dollar flat as Japan, European policy meetings loom Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices rose about 2% on Monday on concerns over global energy supplies following a Ukrainian drone strike on Russia’s Novatek fuel terminal and as extreme cold weather continued to hamper U.S. crude production. Brent March crude futures settled at $80.06 a barrel, up $1.50, or 1.9%. Front-month U.S. West …
Oil rises 2% on supply disruptions in Russia, U.S Read More »
