By Karin Strohecker and Koh Gui Qing NEW YORK/LONDON (Reuters) -A comeback rally in global stocks fizzled on Tuesday as benchmark Treasury yields hit a near 16-year high on concerns that interest rates could stay higher for longer, which kept the safe-haven dollar firm near 10-week highs. The MSCI All Country stock index gave up …
Global stock rally pauses, U.S. yields touch new peaks Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar edged higher against a basket of currencies on Tuesday, nearing a two-month peak touched last week, as traders awaited the Jackson Hole Symposium later in the week. The U.S. dollar index – which measures the currency against six major counterparts – was up 0.2% at …
Dollar firmer as traders look to Jackson Hole gathering Read More »
By Carien du Plessis and Tannur Anders JOHANNESBURG (Reuters) – African countries want China to shift its focus from building infrastructure on the continent to local industrialisation, China’s top Africa diplomat said on Tuesday at a briefing on the sidelines of the BRICS summit in South Africa. “African integration is already escalating and many African …
China says African countries want industrialisation over infrastructure Read More »
JOHANNESBURG (Reuters) -The South African rand gained on Tuesday as risk appetite returned to global markets due to falling U.S. Treasury yields, as the first day of the BRICS summit of emerging economies kicked off in Johannesburg. At 1605 GMT, the rand traded at 18.7900 against the dollar, about 0.9% stronger than its previous close. …
South African rand lifted by falling U.S. yields as BRICS summit kicks off Read More »
By Duncan Miriri NAIROBI (Reuters) – Deals worth hundreds of millions of dollars are expected to be struck at next month’s Africa Climate Summit, including increasingly popular nature-based investments, the event’s main organiser said on Tuesday. African officials hope the meeting will strengthen the continent’s voice and send a unified message ahead of the COP28 …
Large investments expected at first Africa climate summit Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa’s Treasury has paid 16 billion rand ($852 million) to heavily indebted power utility Eskom, the first tranche of a debt relief package that will wipe off more than half its liabilities, acting CEO Calib Cassim said on Tuesday. The Treasury offered a total of 254 billion rand …
DUBAI (Reuters) – Egypt’s petroleum ministry on Tuesday announced a new oil discovery in the Geisum and Tawila West Concession in the Gulf of Suez. The new discovery was made by Egypt’s Cheiron through exploration well GNN-11, currently producing more than 2,500 barrels a day, the ministry said. The well is the fourth to be …
Egypt announces new oil discovery in Gulf of Suez Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – The South African Reserve Bank is likely to leave its repo rate unchanged this year before kicking off a cutting cycle in early 2024, chopping 25 basis points in every quarter as inflation slows closer to its comfort level, a Reuters poll found. If this happens, South Africa’s Reserve …
JAKARTA (Reuters) – Pertamina Geothermal Energy (PGE), a unit of Indonesian state energy firm Pertamina, has signed initial agreements with two Kenyan companies to explore partnerships in geothermal power projects, Indonesia’s foreign minister said. PGE signed a memorandum of understanding (MoU) with Geothermal Development Company to explore a partnership that could be worth $1.5 billion, …
Indonesia’s Pertamina Geothermal explores partnership with Kenyan firms Read More »
By Chris Prentice and Yoruk Bahceli NEW YORK (Reuters) -U.S. Treasury yields rose to decade highs, European equities recovered from a six-week low and the Nasdaq jumped more than 1% on Monday as investors awaited a Federal Reserve meeting on Friday at Jackson Hole, Wyoming. Wall Street trading was mixed, with the Dow Jones Industrial …
US yields hit decade highs; European shares and Nasdaq rise Read More »
