Reuters Africa Business

JOHANNESBURG (Reuters) -The South African rand held steady on Wednesday, as investors bought into riskier assets following dovish comments from Federal Reserve Chair Jerome Powell who left the door open to further U.S. interest rate cuts. At 1334 GMT, the rand traded at 17.3475 against the dollar, roughly up 0.2% on Tuesday’s close, while the …

South African rand holds steady as risk-sentiment improves Read More »

WINDHOEK (Reuters) -Namibia’s central bank cut its main interest rate by 25 basis points to 6.50% on Wednesday, saying that the domestic economy had weakened and that inflation was well-contained. The Bank of Namibia had previously kept its lending rate unchanged for three monetary policy meetings in a row. It said the cut was intended …

Namibia central bank cuts repo rate to support weakening economy Read More »

By Stephen Culp NEW YORK (Reuters) -Wall Street closed mixed on Tuesday and gold touched a record high as investors weighed upbeat economic sentiment from the International Monetary Fund and Federal Reserve Chair Jerome Powell against revived U.S.-China trade tensions. Stocks lost some momentum late in the session after U.S. President Donald Trump posted on …

US stocks end mixed, gold jumps amid upbeat IMF forecast, trade tensions Read More »

By Chibuike Oguh and Alun John NEW YORK/LONDON (Reuters) -The dollar lost ground against major peers including the Swiss franc and Japanese yen on Tuesday as U.S.-China trade tensions resurged, while the euro firmed after the French government proposed suspending a landmark pension reform. The dollar weakened 0.37% to 0.801 Swiss franc and eased 0.37% …

US dollar weakens against peers as markets weight renewed trade tensions Read More »

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell on Tuesday, settling 1.5% lower as the International Energy Agency warned of a huge supply glut in 2026, and as trade tensions persisted between the U.S. and China, the world’s two biggest economies. Brent crude futures fell 93 cents, or 1.5%, to settle at $62.39 a barrel. …

Oil settles down 1.5% on US-China trade tensions, IEA warning of glut Read More »

By Duncan Miriri, George Obulutsa and Marc Jones NAIROBI (Reuters) -Ethiopia said on Tuesday that debt restructuring negotiations with its bondholders had failed for the time being due to differences over the key terms that have kept the country in financial limbo for almost two years. The East African nation defaulted on its sole international …

Ethiopia’s debt restructuring hits impasse, bondholders eye legal action Read More »

JOHANNESBURG (Reuters) -The South African rand fell sharply after the release of disappointing local mining production numbers and after already being on the back foot for much of Tuesday’s session as trade tensions between Washington and Beijing dented risk sentiment. At 1429 GMT the rand traded at 17.41 against the dollar, about 0.6% weaker than …

South African rand falls on disappointing mining data, risk-off sentiment Read More »