By Rachel Savage JOHANNESBURG (Reuters) – The development bank founded by the so-called BRICS countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising and lending. The New Development Bank’s (NDB) two bonds, a 1 billion rand ($52.3 million) five-year note …
‘BRICS bank’ issues first South African rand bonds Read More »
By Felix Onuah ABUJA (Reuters) – Google plans to train 20,000 Nigerian women and youth in digital skills and provide a grant of 1.2 billion naira ($1.6 million) to help the government’s create one million digital jobs in the country, its Africa executives said on Tuesday. Nigeria plans to create digital jobs for its teeming …
Google to train 20,000 Nigerians in digital skills Read More »
By Stephanie Kelly NEW YORK (Reuters) – Oil prices fell over 1% on Tuesday on sluggish Chinese economic data coupled with fears that Beijing’s unexpected cut in key policy rates was not sufficiently substantial to rejuvenate the country’s sputtering post-pandemic recovery. Brent crude futures fell $1.32, or 1.5%, to settle at $84.89 a barrel, while …
Oil drops over 1% on worries about Chinese economy Read More »
By Pete Schroeder WASHINGTON (Reuters) -U.S. stocks fell and oil slid over 1% on Tuesday as investors renewed fresh concerns over whether the Federal Reserve was done hiking interest rates and the resilience of China’s economy. All three major U.S. equity indexes ended the trading day lower, after a stronger-than-expected report on U.S. retail sales …
Wall Street, oil slide as investors eye rates, China economy Read More »
By Patrick Werr CAIRO (Reuters) -Egypt is offering a minimum $5,000 fee for Egyptians living abroad who wish to clear their military service obligations and a U.S. dollar pension plan also aimed at its citizens abroad, in a series of fresh measures designed to boost foreign currency inflows. Over the past few months, state-owned banks …
To raise scarce dollars, Egypt looks to pension plans, draft evaders Read More »
By Hannah Lang WASHINGTON (Reuters) – The dollar index was flat after data showed U.S. retail sales increased more than expected in July, while the yuan sank to a nine-month trough on Tuesday after China’s central bank unexpectedly cut key policy rates. U.S. retail sales jumped 0.7% last month, the Commerce Department said, demonstrating that …
Dollar flat after retail sales data, yuan falls to 9-month low Read More »
By Felix Onuah ABUJA (Reuters) – Nigeria is facing dollar liquidity issues in its foreign exchange market due to “gross mismanagement” at the central bank over several years, a presidential spokesman said on Tuesday. President Bola Tinubu has launched a probe of the central bank under suspended and detained governor Godwin Emefiele after criticising its …
Nigeria president spokesman says FX issues due to ‘gross mismanagement’ at central bank Read More »
NAIROBI (Reuters) -Kenya has reinstated a small subsidy to stabilise retail fuel prices for the next 30 days, the energy regulator said late on Monday, in a reversal of government policy following public anger over the high cost of living. On coming to office last September, President William Ruto removed fuel and maize flour subsidies …
Kenya reinstates small fuel subsidy in government U-turn Read More »
JOHANNESBURG (Reuters) – The South African rand slipped on Tuesday, after China’s central bank surprisingly cut key policy rates to boost a sputtering economic recovery in South Africa’s biggest trading partner. The rand had also fallen on Monday on worries over the health of China’s economy, the world’s second largest. After a broad array of …
By Promit Mukherjee JOHANNESBURG (Reuters) – The CEO of South Africa’s MTN Group said on Tuesday he plans to bring in minority partners in fintech and fibre and then list the businesses as separate entities to reach a market capitalisation of more three times its net asset value (NAV). Africa’s largest telecom service provider sold …
South Africa’s MTN looks to unlock hidden value with stake sales Read More »
