JOHANNESBURG (Reuters) -The South African rand weakened against a firm dollar on Thursday after monthly mining figures showed a drop in production, while analysts had predicted an increase. The rand traded at 18.9425 against the dollar at 1502 GMT, about 0.7% weaker than its previous close. The dollar was trading up about 0.4% against a …
South African rand weakens after mining output drops Read More »
JOHANNESBURG (Reuters) -South African lender FirstRand said on Thursday it would see slower growth in corporate and retail loans in the 2024 fiscal year, but assured it would post shareholder returns, led by a focus on stronger customers and new products. The top five private South African banks – among the continent’s biggest – are …
S.African lender FirstRand sees tough FY24, but assures growth Read More »
MADRID (Reuters) – Spanish family-owned fashion retailer Mango has expanded its online sales in 20 markets, most of them in Africa, the company said in a statement on Thursday. Mango said it will launch e-commerce operations in countries such as Senegal, Ghana, Ethiopia, Zimbabwe, Mali, Uganda or Madagascar with its brands for women, men and …
Spain’s fashion retailer Mango to expand online sales in Africa Read More »
By Shadia Nasralla LONDON (Reuters) -Capricorn Energy is sticking with plans to pay out a total of $575 million to shareholders this year including a $100 million special dividend in October, it said on Thursday, despite payment delays from key market Egypt. After shareholder revolts derailed two mergers and prompted Capricorn to turn its back …
Capricorn sticks with payouts despite Egypt owing money Read More »
By Christian Akorlie and Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana is reopening a debt exchange that was originally settled in February for another 12.9 billion cedis ($1.1 billion) of local bonds, the finance ministry said on Thursday. The terms of the new invitation are identical to those of the February 2023 exchange, which closed with …
Ghana reopens debt exchange for 12.9 billion cedis of local bonds – fin ministry Read More »
NAIROBI (Reuters) -Kenya’s central bank has capped the amount of dollars that money transfer companies can sell to an individual customer at $100,000 per day, a central bank letter to the firms shows. The firms, which provide cash remittance services to those living abroad, will be required to sell any hard currency amounts exceeding $100,000 …
Kenya’s central bank limits sale of dollars by remittance firms Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s Reserve Bank will keep interest rates steady at 8.25% at its Sept. 21 meeting to curb the impact of fuel price inflation, according to nearly all economists polled by Reuters, but will start cutting borrowing costs early next year. In an almost unanimous poll taken Sept. 7-13, …
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index was higher on Wednesday, after U.S. economic data showed inflation increased for August but did little to alter market expectations for the path of rate hikes from the Federal Reserve. The consumer price index increased by 0.6% last month, the largest gain since June 2022, …
Dollar climbs as Fed expectations remain intact after CPI Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices edged lower on Wednesday, after earlier hitting a 10-month high, as a surprise build in U.S. crude inventories offset expectations of tight crude supply for the rest of the year. International benchmark Brent futures dipped 18 cents to settle at $91.88 a barrel. Its session high of …
Oil dips as surprise US crude stockbuild faces supply cuts Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks advanced and U.S. Treasuries oscillated within a tight range on Wednesday after data showed underlying inflation remained on its slow, downward trajectory, boosting expectations that the Federal Reserve will let interest rates stand, for now. The S&P 500 gained modestly and interest-rate sensitive mega caps, led …
Nasdaq, S&P 500 gain, Treasury yields waver as CPI cements Fed pause Read More »
