By Marc Jones and Rachel Savage LONDON/JOHANNESBURG (Reuters) -Gabon launched what is set to be Africa’s first debt-for-nature swap on Tuesday, with a plan to buy up at least $450 million of its government debt and switch it to an eco-friendly blue bond. Gabon’s beaches and coastal waters host the world’s largest population of leatherback …
Gabon launches tender for Africa’s first debt-for-nature swap Read More »
By Laura Matthews NEW YORK (Reuters) – The dollar was flat against a basket of its major peers on Tuesday, as investors hope a trio of central bank meetings this week will provide guidance on the outlook for monetary policy. Signs of an extremely resilient U.S. economy helped the currency recover from a recent 15-month …
US dollar flat as market awaits clarity from central banks Read More »
JOHANNESBURG (Reuters) -The South African government is close to announcing a deal with partly state-owned telecoms firm Telkom, communications minister Mondli Gungubele said on Tuesday, quashing speculation the government might sell its 40% stake in the company. The country’s third biggest telecoms player has seen its market value halve from the highs seen in 2021 …
S.Africa to ink deal with state-owned firm for internet access Read More »
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s central bank raised its main lending rate by a smaller-than-expected 25 basis points on Tuesday, saying it preferred a moderate increase to anchor inflation expectations while continuing to support investment. In the boldest reforms seen in years, new President Bola Tinubu has ended a decades-old petrol subsidy that has …
Nigeria opts for small rate hike at first meeting after Emefiele’s suspension Read More »
JOHANNESBURG (Reuters) – The South African rand extended gains from the previous session on Tuesday as China’s pledges to increase support for its sputtering economy boosted risk appetite globally. At 1534 GMT, the rand traded at 17.6150 against the dollar, about 0.7% stronger than its closing level on Monday. The rand is up more than …
South African rand gains on China policy pledges Read More »
(Reuters) – Global diamond giant De Beers on Tuesday reported its first production from its new $2.3 billion underground operations at Venetia mine in South Africa. De Beers, a unit of Anglo American Plc, stopped its 30-year open pit mining operations at Venetia in December 2022 to transition to the underground mining project it started …
De Beers delivers first production from $2.3 billion underground mine Read More »
(Reuters) – South Africa’s Kumba Iron Ore reported a 17% decline in half-year profit on Tuesday due to softer iron ore prices and persistent rail logistics problems. Kumba, 70% owned by global mining giant Anglo American Plc, said its headline earnings per share (HEPS) came in at 30.04 rand ($1.70) for the six months to …
Anglo American’s Kumba Iron Ore profit falls on weaker prices Read More »
By Chibuike Oguh NEW YORK (Reuters) -Global equity markets and Treasury yields rose on Monday as investors braced for interest rate decisions from key central banks, including the U.S. Federal Reserve, as well as corporate earnings that may shed light on the state of the economy. An overwhelming majority of traders expect the Fed to …
Global shares, U.S. yields rise as investors eye rates, earnings Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 2% to a near three-month high on Monday on tightening supply, rising U.S. gasoline demand, hopes for Chinese stimulus measures and technical buying. Brent futures rose $1.67, or 2.1%, to settle at $82.74 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.67, or …
Oil prices up 2% to near 3-month high on tight supply, China stimulus hopes Read More »
By Laura Matthews New York (Reuters) – The dollar clung to gains against the euro on Monday after recent economic data showed a stronger U.S. economy and a slowing euro zone as traders look beyond a trio of central bank meetings this week for clues to the outlook for monetary policy. A closely-watched purchasing managers’ …
Dollar clings to gains with central banks in focus Read More »
