KAMPALA (Reuters) – Stanbic Bank Uganda, the country’s biggest bank by assets, on Friday reported a 20.7% rise in pre-tax profit in the first six months of 2023, helped by higher interest income. A unit of South Africa’s Standard Bank Group, the bank said it had earned 263.4 billion shillings ($70.62 million) in profit before …
Stanbic Bank Uganda’s half-year profit up more than 20% Read More »
CAIRO (Reuters) – Egypt will keep electricity prices unchanged for consumers until Jan. 2024, the cabinet said in a statement on Thursday. Egypt, however, has committed to deep cuts to energy subsidies and a range of monetary and fiscal reforms as part of a financial support package with the International Monetary Fund. The country is …
Egypt to keep electricity prices unchanged for consumers until Jan. 2024 Read More »
By Pete Schroeder WASHINGTON (Reuters) -Longer-dated U.S. Treasury yields hit a 10-month high Thursday as Wall Street accelerated losses into the close and investors grappled with the potential for longer-lasting high interest rates and a struggling Chinese economy. Benchmark 10-year yields reached 4.312% in trading and tested October’s 4.338%, before moving lower to 4.29%. The …
U.S. Treasury yields jump and stocks dip on rate, China concerns Read More »
By Hannah Lang WASHINGTON (Reuters) – The dollar index hovered near a two-month high on Thursday after Federal Reserve meeting minutes left the door open for more rate hikes and data this week indicated a resilient U.S. economy. Investors continue to closely watch the Japanese yen, which touched the key 145 level for the first …
Dollar near two-month high, investors eye intervention-zone yen Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose on Thursday after falling for three straight sessions, as the dollar weakened and China’s central bank sought to bolster the property market and wider economy. Brent crude futures rose 67 cents, or 0.8%, to $84.12 a barrel, while U.S. West Texas Intermediate crude (WTI) was up $1.01, …
Oil rises as dollar eases, China seeks to soothe economic woes Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Thursday against the dollar after data suggested the country’s business confidence remained relatively stable. At 1628 GMT, the rand traded at 19.0875 against the dollar, about 0.52% stronger than its previous close. It had risen more than 1.1% earlier in the day. The South African Chamber of …
South African rand gains as business confidence remains stable Read More »
By Nelson Banya (Reuters) -South African coal miner Exxaro Resources is planning to build up a cash balance of up to 15 billion rand ($788.34 million), partly to fund acquisitions as it widens its search for clean energy minerals, executives said on Thursday. Exxaro announced plans to acquire critical mineral assets two years ago to …
Exxaro builds cash pile, widens search for critical mineral targets Read More »
ABUJA (Reuters) – A Nigerian court in the capital Abuja adjourned a hearing on Thursday for suspended central bank governor Godwin Emefiele, who is facing a 20-count fraud charge, due to the absence of a second defendant on the case, a government lawyer said. The matter was adjourned to Aug 23 after a co-defendant on …
Nigerian court adjourns suspended central bank governor’s fraud hearing Read More »
By Felix Njini (Reuters) -Gold Fields said on Thursday it was on track to start producing gold at its Salares Norte project in Chile in the fourth quarter of this year, after reporting lower half-year profit on higher costs. Like its Johannesburg-based rival AngloGold Ashanti, Gold Fields has shifted focus away from home country to …
Gold Fields says new Chile mine on track as profit dips Read More »
JOHANNESBURG (Reuters) – Africa’s biggest lender by assets Standard Bank said on Thursday its interim profit jumped by more than a third as high interest rates helped offset rising bad loans. The lender posted a headline earnings per share of 12.8 rand for the six months ended June 30, up from 9.55 rand a year …
South Africa’s Standard Bank posts 34% jump in interim profit Read More »
