(Reuters) – South African coal miner Exxaro expects its half-year profit to fall by as much as 37%, mainly due to weaker prices of the fossil fuel and the impact of rail logistics problems, the company said on Friday. Exxaro said it expected headline earnings per share (HEPS) – South Africa’s most common profit measure …
South Africa’s Exxaro sees lower profit as coal prices cool Read More »
By Herbert Lash NEW YORK (Reuters) -Global shares and the dollar edged higher on Thursday after U.S. consumer price inflation moderated in July and boosted hopes the Federal Reserve is near the end of its rate-hiking cycle, but investors remained wary over data due to arrive before policymakers meet next. The consumer price index (CPI) …
Shares, dollar edge up after moderate US CPI data Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar reversed losses on Thursday, led by gains against the yen, as investors digested U.S. inflation numbers that showed a moderate increase last month, but are still way above the Federal Reserve’s 2% inflation target. The greenback climbed to five-week peaks against the yen of 144.735, and …
US dollar recovers from inflation-related losses; yen slumps Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower on Thursday, with Brent crude holding close to January highs, as speculation about another U.S. interest rate hike faded following inflation data and OPEC remained positive on the oil demand outlook. Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI) …
Oil settles lower as US rate hike fears subside, China demand weighs Read More »
By Tannur Anders JOHANNESBURG (Reuters) -The South African rand strengthened against the dollar on Thursday, helped by dollar weakness after data showed a moderate rise in U.S. inflation in July. At 1514 GMT, the rand traded at 18.7375 against the dollar, up about 1.33% on its previous close, having risen as much as 1.7% to …
South African rand jumps after U.S. inflation data Read More »
CAIRO (Reuters) -Egypt’s annual headline inflation rose to a new all-time high of 36.5% in July, in line with analysts’ expectations, as food prices soared, data from the country’s statistics agency CAPMAS showed on Thursday. Month-on-month, prices rose 1.9% in July, down from 2.08% in June. Core inflation, which strips out volatile items like food …
Egypt’s headline inflation surges to new record of 36.5% Read More »
ABUJA (Reuters) – Nigeria attracted inflows of $1.41 billion into its currency market in June, the central bank said on Thursday, after it scrapped a multiple exchange rate system that used to keep the naira artificially strong. Nigeria’s central bank lifted restrictions on foreign exchange trading in June and allowed the naira to weaken by …
Nigeria attracted $1.4 billion inflows in June after lifting FX curbs Read More »
By Rachel Savage and Brenda Goh JOHANNESBURG/SHANGHAI (Reuters) – Hobbled by the impact of sanctions against founding shareholder Russia, the New Development Bank (NDB) set up by the BRICS countries needs to increase its local currency fundraising and lending, South Africa’s finance minister told Reuters. South Africa will host leaders of the other BRICS nations …
‘BRICS bank’ looks to local currencies as Russia sanctions bite Read More »
JOHANNESBURG (Reuters) – South Africa’s cabinet has approved the appointment of Duncan Pieterse as the new director-general of the National Treasury, Minister in the Presidency Khumbudzo Ntshavheni said on Thursday. Pieterse’s most recent role was head of asset and liability management at the National Treasury, after previously serving as its head of economic policy. He …
Pieterse named new head of South Africa’s National Treasury Read More »
By Herbert Lash NEW YORK (Reuters) -Global stocks slipped on Wednesday, a day before the release of key U.S. inflation data, while the dollar eased after data showed the Chinese economy slipped into deflation last month. Wall Street traded lower on investor caution a day before the Consumer Price Index report for June. Some analysts …
Global stocks slip before CPI data, dollar dips on China selling Read More »
