JOHANNESBURG (Reuters) -The South African rand weakened on Tuesday, losing steam after a strong performance in July and as global risk-off sentiment increased. At 1547 GMT, the rand traded at 18.2500 against the dollar, about 2% weaker than its previous close. It also slipped more than 1% on Monday. The dollar last traded at 102.33, …
South African rand falls 2% as risk-off mood takes hold Read More »
By Camillus Eboh and Chijioke Ohuocha ABUJA (Reuters) – The Nigerian naira should be stronger than the official rate, the likely next finance minister, Olawale Edun, said on Tuesday, adding that a weaker currency was not supported by fundamentals. President Bola Tinubu last week nominated Edun, who is advising him on monetary policy, to become …
Nigeria’s likely next Finance Minister says naira should be stronger than official rate Read More »
(Reuters) – AngloGold Ashanti shares fell more than 8% on Tuesday after the miner said its half-year profit would fall by as much as 58%, mainly due to higher costs and mandatory environmental provisions in Brazil. The miner’s shares fell to their lowest level since March 16. Johannesburg-headquartered AngloGold expects its headline earnings per share …
Anglogold Ashanti shares fall after profit warning Read More »
By Kopano Gumbi JOHANNESBURG (Reuters) – South Africa will overshoot its budget deficit target this year due to higher spending on public wages and an expected dip in tax receipts amid sluggish economic growth and lower commodity prices, economists told Reuters. The National Treasury, which has in recent years worked to put South Africa on …
South Africa’s budget deficit target at risk as wages rise, tax receipts fall Read More »
By Eric Onstad LONDON (Reuters) – The price of uranium has risen only slightly since a military coup in Niger last week as mining operations have continued in the world’s seventh largest producer of the radioactive metal, but a consultancy said prices may rise in coming weeks. The spot price of uranium, widely used for …
Uranium price ticks up after Niger coup, more gains expected Read More »
JOHANNESBURG (Reuters) – South African manufacturing activity contracted for the sixth consecutive month in July, driven by an increase in scheduled power cuts and transport disruptions, a survey showed on Tuesday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) fell to 47.3 points in July from 47.6 points in June, falling further below the 50-point mark …
South African factory activity contracts further in July – Absa PMI Read More »
LONDON (Reuters) – British Foreign Minister James Cleverly will set out a new package of support to make Nigeria’s agriculture sector more climate-resilient during a visit to the African country this week, his office said on Tuesday. The support includes a 55 million-pound contract to help transform Nigeria’s rural economy and a 2.9 million-pound grant …
UK sets out support to make Nigeria’s agriculture sector more climate- resilient Read More »
By Lawrence Delevingne (Reuters) -Wall Street and global stocks edged up on Monday while oil prices gained and the dollar was little changed, as traders looked ahead to corporate earnings and a key employment report due this week. The Dow Jones Industrial Average rose 0.28% to 35,560.19, the S&P 500 gained 0.15% to 4,589.15 and …
Wall Street holds gains ahead of earnings, jobs data Read More »
By Herbert Lash NEW YORK (Reuters) -The dollar strengthened on Monday after a survey from the Federal Reserve showed U.S. banks reported tighter credit standards and weaker loan demand during the second quarter, a sign rising interest rates are having an impact on the economy. The Fed’s quarterly Senior Loan Officer Opinion Survey, or SLOOS, …
By Shariq Khan BENGALURU (Reuters) -Oil prices rallied to a fresh three-month high on Monday and recorded their steepest monthly gains since January 2022, supported by signs of tightening global supply and rising demand through the rest of this year. More actively traded October Brent crude futures rose $1.02, or 1.2%, to settle at $85.43 …
Oil prices hit multi-month highs on tightening supply Read More »
