By Pete Schroeder WASHINGTON (Reuters) -Wall Street ended Wednesday lower and oil continued a downward slide as concerns over more Federal Reserve rate hikes and China’s laggard economy weighed on investors. U.S. stocks accelerated losses after minutes of the Fed’s July rate-setting meeting showed officials were divided on the need for more interest rate hikes, …
Stocks, oil slide as Fed mulls rates and China struggles Read More »
By Hannah Lang WASHINGTON (Reuters) – The Japanese yen further weakened against the dollar on Wednesday, hovering in a zone that last year triggered intervention, while the yuan slipped to a nine-month low as fears mounted about the extent of China’s slowdown. The yen has hit the key 145 per dollar level for four sessions, …
Dollar ticks higher versus yen, China fears drag on yuan Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower on Wednesday despite a large drawdown in U.S. crude stocks as investors weighed worries about China’s embattled economy against expectations of tighter supply in the United States. Brent crude futures fell $1.44, or 1.7%, to settle at $83.45 a barrel while U.S. West Texas Intermediate crude (WTI) …
Oil settles lower as China fears, rate hikes counter tight US supply Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s suspended central bank governor Godwin Emefiele will appear in a high court in Abuja on Thursday, when he is expected to enter a plea in a 20-count indictment, a government lawyer said on Wednesday. Government lawyers, on Tuesday, said they had filed additional graft charges against the governor, …
Nigeria’s suspended cenbank governor to face fraud charges on Thursday Read More »
By Felix Onuah ABUJA (Reuters) – Nigeria’s state-oil firm NNPC said on Wednesday it has secured a $3 billion crude oil repayment loan from Cairo-based Afrexim Bank that will support the government’s reforms to stabilize the exchange rate market. A commitment letter and termsheet was signed on Wednesday for an emergency $3 billion crude oil …
Nigeria’s NNPC secures $3 billion loan to stabilize FX market Read More »
JOHANNESBURG (Reuters) -The South African rand edged higher on Wednesday, reversing some of the losses incurred the previous day after its biggest trading partner China cut key policy rates. At 1538 GMT, the rand traded at 19.0750 against the dollar, over 0.3% stronger than its previous close. The rand had weakened earlier this week on …
By Dawit Endeshaw ADDIS ABABA (Reuters) – Safaricom’s M-Pesa mobile money service went live in Ethiopia on Wednesday, in a boost to the Kenyan telecoms operator as it seeks to kickstart growth in one of Africa’s biggest economies. Safaricom, which is part owned by South Africa’s Vodacom and Britain’s Vodafone, launched its voice and data …
Safaricom launches M-Pesa mobile money service in Ethiopia Read More »
By Rachel Savage and Jorgelina do Rosario JOHANNESBURG/LONDON (Reuters) -Nigeria’s international dollar-denominated bonds fell on Wednesday, after the president’s spokesman said petrol prices did not need to rise more, and blamed foreign exchange shortages on “gross mismanagement” at the central bank. The 2051 maturity dropped as much as 1.7 cents on the dollar to 68.894 …
Nigeria’s eurobonds drop as government says no need for petrol price rise Read More »
By Tannur Anders JOHANNESBURG (Reuters) – South Africa’s largest property company Growthpoint will invest around 1.2 billion rand ($63 million) in student housing by 2026, as it counts on rising demand from the sector to partly offset a slump in other areas. South Africa’s student housing sector has a shortfall of up to 500,000 beds …
S.Africa’s Growthpoint to invest $63 million in student housing Read More »
WINDHOEK (Reuters) – Namibia’s central bank kept its main lending rate unchanged at 7.75% on Wednesday. The decision comes after a 50 basis point (bps) hike at its previous policy meeting in June and two 25 bps hikes in April and February. The southern African country’s inflation has shown signs of abating, with annual inflation …
