JOHANNESBURG (Reuters) -South Africa’s rand continued to give back some of last week’s gains on Tuesday as the U.S. dollar traded higher. At 1705 GMT, the rand traded at 18.3575 against the dollar, about 0.4% weaker than its previous close. The dollar was last up more than 0.3% against a basket of major currencies. The …
South African rand slips against stronger dollar; shares plunge Read More »
By Julian Luk and Felix Njini LONDON/JOHANNESBURG (Reuters) – Copper and cobalt produced by companies, including Glencore and CMOC, are stranded in Kolwezi, Democratic Republic of Congo (DRC), due to a truckers strike that started in late October, four sources with direct knowledge of the matter said. Already 2,700 trucks carrying around 89,000 metric tons …
Copper, cobalt supplies from Congo stranded by truckers’ strike Read More »
CAIRO (Reuters) – Egyptian inflation is expected to retreat in October from a record high of 38% in September as food price rises moderate, a Reuters poll showed on Tuesday, but Egypt’s battle with inflation seems far from over, analysts say. The median forecast of 19 analysts polled showed annual urban consumer inflation slipping to …
Egypt inflation seen retreating in October from record high Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana’s Cocobod has borrowed between $150 million and $200 million from cocoa traders to finance bean purchases since the 2023/24 season opened, due to a delay in securing a bank loan, the regulator’s public affairs manager said on Tuesday. Each September, the industry regulator of the world’s second-largest …
Ghana borrows up to $200 million from cocoa traders to plug funding gap Read More »
By Felix Njini JOHANNESBURG (Reuters) -Impala Platinum said it was offering voluntary job cuts to workers at some of the world’s deepest platinum mining shafts in South Africa in a bid to cut costs as prices for the metal fall. The Johannesburg-based platinum miner started the process at its head office last month, and is …
Impala Platinum starts voluntary job cuts at South African mines Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices edged higher on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Brent crude futures settled 29 cents, or 0.34%, higher at $85.18 a barrel, while U.S. West Texas Intermediate crude was up 31 …
Oil rises as Saudi Arabia and Russia stick to supply cuts Read More »
By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) – A gauge of global equities rose and Treasury yields rebounded on Monday after last week’s big rally in stocks and bonds on hopes that interest rates will soon be cut faded, with markets assessing an improving but still uncertain outlook for growth and inflation. The …
Bond yields rebound, stocks edge up as last week’s rally fades Read More »
By Makini Brice WASHINGTON (Reuters) -A trade program that grants exports from qualifying African countries duty-free access to the U.S. market should be extended by 16 years, said Democratic Senator Chris Coons, a leading voice on U.S.-Africa policy. Talks are underway for the renewal of the two-decade-old African Growth and Opportunity Act (AGOA), which is …
US-Africa program should be extended through 2041, Senate Democrat says Read More »
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar edged higher against the euro on Monday, after earlier dipping to an almost 8-week low on growing expectations that the Federal Reserve is done hiking interest rates, with U.S. central bank officials in focus this week for further signals on rate policy. Fed Chairman Jerome …
Dollar rebounds, Fed officials take center stage Read More »
JOHANNESBURG (Reuters) -The South African rand slipped on Monday, giving back some of the gains the currency made last week on hopes for the end of the U.S. Fed’s tightening cycle. At 1654 GMT, the rand traded at 18.3025 against the dollar, 0.25% weaker than its previous close. The rand has jumped around 2% against …
South African rand weakens after week of gains; shares edge higher Read More »
