By Tannur Anders JOHANNESBURG (Reuters) -The South African rand rebounded against the dollar on Friday after the U.S. currency fell on employment data. At 1501 GMT, the rand traded at 18.4300 against the dollar, nearly 1.4% above its previous close. It had slipped as much as 0.3% earlier in the day, extending its decline this …
South African rand gains on U.S. jobs data after ‘torrid week’ Read More »
By Rachel Savage, Marc Jones and Isla Binnie LONDON/NEW YORK (Reuters) – Gabon has delayed a bond buyback that will kick off a $500 million ‘debt-for-nature’ swap, Africa’s first with international sovereign bonds, according to two sources with knowledge of the deal who blamed a spike in Treasury yields that sparked market volatility. The tender …
Gabon ‘debt-for-nature’ swap delayed amid market volatility – sources Read More »
By Felix Njini and Clara Denina NAIROBI/LONDON (Reuters) -Botswana’s state diamond company is planning to diversify how it sells precious stones to the market as it gears up to receive far more supply under a multi-year deal the country struck with producer De Beers in July. The Okavango Diamond Company (ODC) currently sells 25% of …
Exclusive-Botswana plans extra diamond sales route after De Beers deal Read More »
ABUJA (Reuters) – Nigeria began construction of a 1,350 megawatt gas-fired power plant near its capital Abuja on Friday, the first major project under President Bola Tinubu, who promised to improve erratic electricity supply and spur sluggish economic growth Power cuts are frequent in Africa’s largest economy, with no city spared electricity shortages, due to …
Nigeria’s Tinubu hails significant new gas-fired power plant Read More »
(Reuters) -AngloGold Ashanti shares fell more than 3% on Friday after the miner reported a 54% decline in half-year profit, mainly due to higher costs and operational disruptions in the first quarter. The gold miner’s shares were 3.47% lower at 0819 GMT. The Johannesburg-headquartered company said its headline earnings per share (HEPS)_ – the main …
AngloGold Ashanti shares fall after first-half profit drop Read More »
KAMPALA (Reuters) – MTN Uganda posted an 18.1% rise in half-year pre-tax profit on Friday as higher data sales and mobile money revenue boosted the telecom firm. The Ugandan unit of South Africa’s MTN Group reported a profit of 325.6 billion shillings ($90.29 million) for the first six months of 2023. MTN Uganda was helped …
MTN Uganda half-year profit up 18% on data sales, mobile money Read More »
By Lawrence Delevingne (Reuters) -U.S. shares finished with minimal losses after a day of up and down trading as U.S. bond yields hit nine-month peaks and the dollar dipped following a U.S. credit downgrade. Wall Street investors weighed another rise in Treasury yields with the latest batch of economic data and earnings. The Dow Jones …
Wall St shares pare losses after choppy trading as yields spike Read More »
CAIRO (Reuters) – The Central Bank of Egypt raised overnight interest rates by 100 basis points on Thursday in a surprise move, saying it sought to contain inflationary pressures and anchor inflation expectations. The lending rate was increased to 20.25% and the deposit rate to 19.25%, the bank’s Monetary Policy Committee said in a statement. …
Egypt’s central bank raises interest rates by 100 bps Read More »
By Herbert Lash NEW YORK (Reuters) -The dollar slid from a four-week peak on Thursday after U.S. labor market data failed to impress a day before a key jobs report, and as Treasury yields rose but eased at the short end. Nonfarm-productivity rose to an annualized 3.7% to help curb growth in labor costs and …
Dollar hits 4-week peak, then eases, sterling lower after BOE hike Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices gained about 2% on Thursday as Saudi Arabia and Russia took steps to keep supplies tight into September and possibly beyond. Brent <LCOc1> futures rose $1.94, or 2.3%, to settle at $85.14 a barrel, while U.S. West Texas Intermediate crude rose $2.06, or 2.6%, to settle at …
Oil rises 2% as Saudi Arabia and Russia keep supplies tight Read More »
