Reuters Africa Business Archives - Page 565 of 921

S.Africa’s Sasol awaits outcome on sulphur dioxide emissions proposal

22 Sep 2023 22 Sep 2023

By Tannur Anders SECUNDA (Reuters) – South African petrochemicals company Sasol expects the government to approve its proposed alternative minimum emission standards for sulphur dioxide, its chief executive told Reuters on Thursday. The company has been in back-and-forth discussions with the government since 2015 when its Secunda operations were granted a 10-year postponement from meeting …

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South African rand gains, but analysts say much more appreciation unlikely

22 Sep 2023 22 Sep 2023

JOHANNESBURG (Reuters) – The South African rand gained against the dollar in early trade on Friday, but analysts said they saw little room for meaningful appreciation before the mid-term budget on Nov. 1. At 0746 GMT, the rand traded at 18.8300 against the dollar, 0.7% stronger than its previous close. On Thursday the South African …

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Stocks fall, yields rise as central banks rattle markets

21 Sep 2023 21 Sep 2023

By Herbert Lash and Marc Jones NEW YORK/LONDON (Reuters) – World stocks fell for a fifth straight session and the dollar hit its strongest since March on Thursday as Treasury yields rose to levels last seen during the 2008 global financial crisis after the Federal Reserve warned rates will stay higher for longer. The U.S. …

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Dollar eases after Fed-spurred rise; yen stronger ahead of BOJ

21 Sep 2023 21 Sep 2023

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar eased against a basket of currencies on Thursday, but remained near a six-month high, a day after the Federal Reserve signaled U.S. monetary policy will remain restrictive for longer. The Japanese yen strengthened against the greenback before Friday’s Bank of Japan policy announcement, while the …

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Egypt’s central bank keeps key interest rates unchanged

21 Sep 2023 21 Sep 2023

CAIRO (Reuters) – Egypt’s central bank, as widely expected, left its key overnight interest rates unchanged on Thursday, saying both economic growth and core inflation were slowing. The bank kept its lending rate at 20.25% and its deposit rate at 19.25%. The median forecast in a poll of 17 analysts had been for the bank’s …

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Oil settles lower as Russia fuel export ban boosts, rate hikes weigh

21 Sep 2023 21 Sep 2023

By Laura Sanicola (Reuters) – Oil prices settled lower after choppy trading on Thursday, rising as much as $1 a barrel after a Russian ban on fuel exports snatched the focus from Western economic headwinds that had pushed prices down $1 a barrel early in the session. Brent futures for November delivery settled down 23 …

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South Africa central bank holds key rate and warns on fiscal risks

21 Sep 2023 21 Sep 2023

By Kopano Gumbi, Anait Miridzhanian and Bhargav Acharya PRETORIA (Reuters) -South Africa’s central bank kept its main interest rate unchanged on Thursday despite inflation being firmly within its target, stressing that deteriorating public finances risked fuelling price pressures. A higher public sector wage increase and lower tax collections mean the government has struggled to meet …

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South African rand tracks dollar, little moved by central bank pause

21 Sep 2023 21 Sep 2023

JOHANNESBURG (Reuters) -South Africa’s rand took its direction from the dollar on Thursday, reacting little to an expected central bank decision to hold its main interest rate at 8.25%. At 1515 GMT, the rand traded at 18.8400 against the dollar, about 0.2% stronger than its previous close. The dollar was trading around 0.1% weaker against …

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Nine killed by unknown assailants in northern Ghana: local official

21 Sep 2023 21 Sep 2023

ACCRA (Reuters) -Nine people were killed and several injured in an ambush by unknown assailants in northern Ghana on Thursday morning, said Zubeiru Abdulai, head of the local district of Pusiga. The attack took place near the border with Burkina Faso, where Islamist militants are waging an insurgency. Militant violence in Ghana is rare, but …

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South African insurer Discovery resumes dividend on strong balance sheet

21 Sep 2023 21 Sep 2023

By Nqobile Dludla JOHANNESBURG (Reuters) -South African insurer Discovery Ltd on Thursday declared its first dividend since the COVID-19 pandemic took hold in 2020, citing a strong balance sheet and cash generation, but said macroeconomic uncertainty would persist. Discovery, which has a market share of 57.8% in the health insurance space, declared a final dividend …

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