JOHANNESBURG (Reuters) -South Africa’s rand weakened as a buoyant dollar and disappointing domestic economic data releases weighed on the local currency on Wednesday. At 1510 GMT, the rand traded at 18.87 against the U.S. dollar, about 0.9% weaker than its previous close. It earlier hit 18.97 per dollar, a level not seen since early June …
South African rand slips to seven-month low on strong dollar, weak data Read More »
LAGOS (Reuters) – China Development Bank has released a $254.76 million loan to Nigeria for a railway project linking the two northern states of Kano and Kaduna, the bank said, ahead of a visit to the West African country by China’s top diplomat this week. As part of his annual New Year tour of Africa, …
China Development Bank releases $255 million for Nigeria rail project Read More »
CAIRO (Reuters) – Egyptian inflation is expected to have eased to 24.2% in December as food prices continued to cool, according to a poll released on Wednesday. The median forecast of 13 analysts polled by Reuters was for annual urban consumer inflation to have edged down to 24.2% from 25.5% in November. The data was …
Egypt inflation seen easing to 24.2% in December: Reuters poll Read More »
ACCRA (Reuters) – Ghana’s consumer inflation rose for a fourth month in a row in December, to 23.8% year on year from 23.0% in November, the statistics service said on Wednesday. Government statistician Samuel Kobina Annim told a news conference that the latest increase was driven by higher food prices. “The rate of inflation… is …
Ghana inflation rises for fourth straight month in December Read More »
By Nuzulack Dausen DAR ES SALAAM (Reuters) – Tanzania’s central bank left its key interest rate unchanged at 6% on Wednesday, holding it steady for a third consecutive policy meeting, with an aim of keeping inflation below its target. When it launched the rate in January 2024, the bank set it at 5.50%. The bank …
Tanzania central bank holds key interest rate unchanged for a third time Read More »
(Reuters) – Coloured gemstone producer Gemfields has asked the Zambian government to remove a recently re-introduced 15% export tax on emeralds to avoid hurting the sector. The southern African country, the world’s second largest emerald producer after Colombia, re-introduced the tax on Jan.1, after it was suspended in 2019. “The company will engage with the …
Gemfields asks Zambia to reverse emerald export tax Read More »
By Chibuike Oguh NEW YORK (Reuters) -Global stocks lost ground while U.S. Treasury yields edged higher on Tuesday after data showed the American economy remained resilient, indicating the Federal Reserve could cut interest rates fewer times this year than the market had been expecting. On Wall Street, all three main indexes finished lower, with technology, …
Stocks fall, US yields rise after strong US data Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar strengthened on Tuesday as U.S. economic data showing a generally stable jobs market and a still robust services sector suggested that the Federal Reserve will likely slow the pace of its current rate-cutting cycle. The greenback rose to a near six-month peak against the yen after the …
Dollar firms as solid US data suggests Fed likely to slow easing cycle Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices settled higher on Tuesday, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand. Brent crude futures settled at $77.05 a barrel, up 75 cents, or 0.98%. U.S. West Texas Intermediate (WTI) crude finished at $74.25 a barrel, up …
Oil prices settle up on possible supply disruption, hopes for China demand Read More »
JOHANNESBURG (Reuters) – South Africa’s rand slipped against a resurgent dollar on Tuesday, after positive U.S. data suggested the Federal Reserve would likely be cautious in cutting interest rates. At 1524 GMT, the rand traded at 18.6350 against the U.S. dollar, about 0.3% weaker than its previous close. Data showed U.S. job openings in November …
