JOHANNESBURG (Reuters) -The South African rand extended losses on Tuesday, bearing the brunt of the stronger dollar and surging U.S. Treasury yields, analysts said. At 1540 GMT, the rand traded at 19.3700 against the dollar, 0.81% weaker than its previous close. The dollar last traded around 0.2% firmer against a basket of global currencies. On …
South African rand extends losses on stronger dollar, US yields Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – Solar power projects funded by South Africa’s Standard Bank will add 1,500 megawatts to the national grid by the end of 2024, the lender said, accounting for 5% of the total available grid capacity according to Reuters calculations. Africa’s most advanced economy is facing its worst ever electricity crisis …
S.Africa’s Standard Bank-funded solar plants to add 5% to grid by end-’24 Read More »
NAIROBI (Reuters) – HB Antwerp, a Belgian gem processor and trader, said that one of its founding members who was fired last month has been reinstated, amid a pending deal with Botswana for the supply of rough stones. Oded Mansori was reinstated as managing partner and director and all four of the company’s founding partners …
Gem Trader HB Antwerp ends feud as Botswana weighs diamond sales deal Read More »
JUBA (Reuters) – South Sudan’s President Salva Kiir has sacked central bank governor Johnny Ohisa Damian and other senior finance officials, state television announced, the second time he has removed a central bank chief in just over a year. The announcement made late on Monday did not give a reason why Kiir was removing Damian …
South Sudan president fires another central bank governor Read More »
ABUJA (Reuters) -Nigeria’s biggest labour federations on Monday said they were suspending an indefinite strike that was set to begin on Tuesday after last minute talks with President Bola Tinubu’s government, which had warned that the action could damage the economy. Tinubu is under pressure to ease economic hardships after he scrapped a decades-old petrol …
Nigeria’s labour unions suspend indefinite strike Read More »
By Sinéad Carew NEW YORK (Reuters) – MSCI’s global index of stocks kicked off fourth-quarter trading with a decline as U.S. Treasury yields and the dollar rose while investors worried that rates would stay higher for longer. While a short-term spending deal averted a partial U.S. government shutdown, the news failed to raise much enthusiasm …
Global stock index dips while bond yields, dollar climb Read More »
By Chuck Mikolajczak and Herbert Lash NEW YORK (Reuters) -The dollar index climbed on Monday, building on four straight weeks of gains, after the U.S. government avoided a shutdown and economic data again supported the view that the Federal Reserve will keep interest rates higher for a longer period of time. U.S. manufacturing took a …
Dollar climbs to near 150 vs yen after U.S. shutdown avoided Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% on Monday to a three-week low as a higher-priced Brent contract expired, the U.S. dollar strengthened and traders took profits, concerned about rising crude supplies and pressure on demand from high interest rates. On its first day as the front-month, Brent futures for December …
Oil tumbles 2% to 3-week low on strong dollar, profit taking Read More »
By Duncan Miriri NAIROBI (Reuters) – A Kenyan parliamentary panel called on the country’s information technology regulator on Monday to shut down the operations of cryptocurrency project Worldcoin within the country until more stringent regulations are put in place. The government suspended the project in early August following privacy objections over its scanning of users’ …
Kenya panel urges shutdown of Worldcoin’s crypto project within country Read More »
By MacDonald Dzirutwe and Libby George LAGOS/LONDON (Reuters) -Nigerian President Bola Tinubu’s lightning-fast reform push after taking office in May sparked hope that his administration would be a business-friendly antidote to mounting economic troubles facing Africa’s biggest economy. Fast forward to more than 100 days in office, and the key planks of his economic overhaul …
Nigerian reform drive falters, threatening Africa’s biggest economy Read More »
