JOHANNESBURG (Reuters) -The South African rand was weaker on Thursday on soaring U.S. Treasury yields and market jitters over a wider Middle East conflict, ahead of a speech by Federal Reserve Chair Jerome Powell. At 1505 GMT, the rand traded at 19.0425 against the dollar, about 0.3% weaker than its previous close. Market jitters intensified …
South African rand weaker on soaring US Treasury yields Read More »
NAIROBI (Reuters) – Kenya’s shilling, Zambia’s kwacha, Nigeria’s naira and the Ugandan shilling are forecast to lose ground against the dollar in the next week to Thursday, traders said. KENYA Kenya’s shilling is expected to weaken due to persistent demand for dollars from the manufacturing and energy sectors. Commercial banks quoted the shilling at 149.80/150.00 …
AFRICA-FX- Most African currencies seen weakening, Ghana and Tanzania steady Read More »
By Julia Payne BRUSSELS (Reuters) -G7 countries will this week discuss four plans to ban Russian diamonds from G7 markets from Jan. 1, from light-touch self-regulation to strict import measures, laying bare differences that explain why a ban has been so difficult to agree for more than a year, documents showed. The four proposals were …
Exclusive-G7 to discuss four versions of Russian diamond ban this week- sources Read More »
By Brigid Riley and Alun John TOKYO (Reuters) – The dollar held firm against major currencies on Thursday, and gained on more volatile ones, underpinned as the U.S. 10 year yield neared the 5% level and ahead of closely-watched remarks by Federal Reserve chair Jerome Powell. The dollar index, which tracks the unit against six …
Dollar firm ahead of Fed Chair remarks underpinned by higher US yields Read More »
By Stephen Culp NEW YORK (Reuters) – Wall Street stocks tumbled and crude prices surged on Wednesday as escalating Middle East turmoil prompted a broad sell-off and stoked oil supply concerns. All three major U.S. stock indexes shed 1% or more, closing near session lows. Momentum stocks, led by Nvidia, Tesla Inc and Amazon.com, pulled …
US stocks end sharply lower, crude jumps on Middle East tensions Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 2% to a two-week high on Wednesday on a bigger-than-expected U.S. storage draw and concerns about global supplies after Iran called for an oil embargo on Israel over the conflict in Gaza. Brent futures rose $1.60, or 1.8%, to settle at $91.50 a barrel, while …
Oil up about 2% on big US crude storage draw, Middle East tension Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa needs to regulate swiftly to spur demand for electric vehicles (EVs), the co-CEO of the local unit of Mercedes-Benz said on Wednesday, as the country’s automotive industry risks being irrelevant to the global market. For South Africa as a whole, three quarters of its vehicle production is …
Mercedes-Benz local boss urges South Africa to speed up EV shift Read More »
ABUJA (Reuters) – Nigeria’s naira hit a record low of 1,100 per dollar on the black market on Wednesday, online platform abokiFX showed, a day after the currency hit a new low on the official market due to persistent dollar shortages. The naira has been in freefall on the unofficial market, where it trades freely, …
Nigerian naira hits record black market low of 1,100 per dollar -abokiFx Read More »
TUNIS (Reuters) – Tunisia’s central bank on Wednesday held its key interest rate unchanged at 8%, the bank said. The bank said that the current account deficit declined significantly to 3.461 billion dinars ($1.09 billion), or 2.2% of GDP at the end of September 2023, compared to a deficit of 10.387 billion dinars or 7.2% …
Tunisia’s central bank keeps key interest rate unchanged at 8% Read More »
JOHANNESBURG (Reuters) -The South African rand fell on Wednesday after September headline consumer inflation rose sharply in Africa’s most industrialised economy. At 1513 GMT, the rand traded at 19.0625 against the dollar, 1.4% weaker than its previous close. The dollar last traded about 0.3% stronger against a basket of global currencies. Local investor focus was …
South African rand falls after sharp inflation spike Read More »
