(Reuters) – Egypt’s annual urban consumer price inflation rate surged to a higher-than-expected record 37.4% in August from 36.5% in July, data from the country’s statistics agency CAPMAS showed on Sunday. Headline inflation in July was 36.5% and in June 35.7%, both also all-time highs. High money supply growth over the last two years has …
Egypt’s August headline inflation jumps to a record 37.4% Read More »
By Maxwell Akalaare Adombila and Christian Akorlie TEPA, Ghana (Reuters) -Ghana raised the state guaranteed cocoa price paid to its farmers by more than 63% on Saturday in a bid to boost their income and prevent beans being smuggled to neighbouring countries where they fetch more money as supplies tighten. President Nana Akufo-Addo said farmers …
Ghana hikes 2023/2024 cocoa farmgate price as supplies tighten Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – The U.S. dollar index registered an eighth straight week of gains on Friday while global stock indexes ended slightly higher on the day ahead of key U.S. inflation data next week. The dollar index’s weekly winning streak was its longest since 2014, bolstered by recent data suggesting the …
Dollar has 8th straight week of gains; U.S. stocks edge up Read More »
By Scott DiSavino NEW YORK (Reuters) – Oil prices gained almost 1% to a nine-month high on Friday on rising U.S. diesel futures and worries about tight oil supplies after Saudi Arabia and Russia extended supply cuts this week. Brent futures rose 73 cents, or 0.8%, to settle at $90.65 a barrel, while U.S. West …
Oil prices rise to 9-month high on worries about tight supply Read More »
By Tarek Amara TUNIS (Reuters) – Tunisian President Kais Saied said on Friday that the law must be reviewed to allow the central bank to finance the budget directly by buying state bonds, a move the bank governor has previously warned against. Critics of the proposal said an attempt to amend the 2016 law would …
Tunisia’s president wants central bank to be able to finance budget directly Read More »
By Gertrude Chavez-Dreyfuss and Samuel Indyk NEW YORK/LONDON (Reuters) – The dollar was little changed on Friday, consolidating gains amassed during the week on better-than-expected U.S. economic data, even as the currency’s underlying strong trend remained amid stable consumer and labor markets, which have kept the prospect of another rate increase on the table this …
US dollar flat, but on track for eight straight weeks of gains; yuan sinks Read More »
LONDON (Reuters) – Moody’s next move on Gabon’s credit rating following the country’s military coup this month will depend on its economic impact, while it is also working through another downgrade review of Niger following its coup there in late July. The two countries have seen West and Central Africa’s seventh and eighth coups in …
Moody’s watching Gabon coup events, Niger review still pending Read More »
JOHANNESBURG (Reuters) -The South African rand extended gains on Friday as the U.S. dollar fell, leaving the rand slightly stronger than it was at the start of a bumpy week. At 1532 GMT, the rand traded at 19.0925 to the dollar, about 0.5% stronger than its previous close. The dollar last traded around 0.1% weaker …
South African rand extends gains against weaker dollar Read More »
(This Sept. 7 story has been corrected to fix AFC’s ownership structure based on updated guidance from the AFC in paragraph 5) LONDON – The Africa Finance Corporation (AFC), which is owned by Nigeria’s central bank and other African financial institutions, has no intention of backing away from fossil fuel investments, a senior executive said on …
Africa Finance Corporation remains committed to fossil fuel investments Read More »
PARIS (Reuters) -The United Nations food agency’s world price index fell in August to a new two-year low, reversing a rebound seen the previous month, as a decline in most food commodities offset increases for rice and sugar. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged …
World food price index back at two-year low despite rice surge -FAO Read More »
