Reuters Africa Business

By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund’s (IMF) executive board on Thursday approved a $1.32 billion, 18-month loan from its new Resilience and Sustainability Facility to help Morocco bolster its resilience to climate-related disasters, the fund said in a statement. The North African country had requested funds from the IMF’s new trust well …

IMF board approves $1.32 billion resilience loan for Morocco Read More »

By Sinéad Carew NEW YORK (Reuters) – A global index of stocks bounced back after a nine-day losing streak on Thursday as oil prices fell and U.S. Treasury yields pulled back from their highest levels in 16 years. Adding to respite for weary equity investors was a decline in the dollar from a 10-month high …

Global stock index rises as oil, 10-year yield and dollar pull back Read More »

By Scott DiSavino NEW YORK (Reuters) -Oil futures eased about 1% on Thursday, as traders took profits after prices soared to 10-month highs, and some worried that high interest rates may weigh on oil demand. On its second to last day as the front-month, Brent futures for November delivery fell $1.17 or 1.2%, to settle …

Oil eases 1%, reversing rally, on profit taking, interest rate worries Read More »

By Karen Brettell and Alun John NEW YORK (Reuters) – The dollar index eased from a 10-month high on Thursday but remained on track for a weekly gain, and investors stayed on guard for potential intervention in the yen as it holds near 11-month lows against the U.S. currency. The dollar has jumped on expectations …

Dollar eases from 10-month high but on track for weekly gain Read More »

JOHANNESBURG (Reuters) -The South African rand strengthened on Thursday ahead of a slew of local economic data including trade and budget balance, which could give clues on the health of Africa’s most industrialised economy. At 1523 GMT, the rand traded at 19.0525 against the dollar, more than 0.7% stronger than its previous close. The dollar …

South African rand rises ahead of trade, budget balance data Read More »

By Arathy Somasekhar HOUSTON (Reuters) – Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies. Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session. U.S. West Texas Intermediate crude …

Oil climbs 3% as steep US crude stocks draw adds to supply concerns Read More »