JOHANNESBURG (Reuters) -The rand gained strongly on Tuesday, with one analyst saying it had looked undervalued after year-to-date losses and citing support from rising prices for precious metals, a key South African export. At 1550 GMT, the rand traded at 17.8550 against the dollar, about 1% stronger than its previous close. Danny Greeff, a financial …
South African rand gains; analyst says it had looked undervalued Read More »
(Reuters) – South Africa can boost coal shipments to ports after last year’s record decline if it secures locomotives that were idled following a dispute with a key Chinese supplier, South Africa’s state-owned rail and ports operator said on Tuesday. Transnet Freight Rail CEO Sizakele Mzimela said resolving an impasse with China’s CRRC E-Loco could …
South Africa can boost coal exports if Chinese supplier restored -Transnet Read More »
(Reuters) – The International Monetary Fund’s executive board has approved a $271 million Extended Credit Facility for Burundi, with an immediate disbursement of over $62 million, the IMF said in a statement late on Monday. The East African country’s economy is just starting to recover from years of conflict and political upheaval under former leader …
IMF board approves $271 million loan facility for Burundi Read More »
(Reuters) – Australia’s Woodside Energy Group Ltd said on Tuesday it expected the first barrel of oil from the Senegal Sangomar project in Africa to flow through by mid-2024, compared with the initial target of late 2023. Woodside, which holds 82% of the oil and gas field being developed off West African country Senegal, also …
Australia’s Woodside delays Sangomar first barrel to mid-2024, flags higher costs Read More »
WASHINGTON (Reuters) -The International Monetary Fund’s executive board on Monday signed off on nearly $1 billion in new funding for Kenya that could ease pressure on government finances in East Africa’s largest economy, the global lender said in a statement. The IMF said the board completed the fifth reviews under Kenya’s Extended Fund Facility and …
IMF board signs off on $1 billion in funds for Kenya Read More »
By Herbert Lash NEW YORK (Reuters) -U.S. stocks rose on Monday on expectations corporate earnings will exceed forecasts, but global shares and the dollar traded little changed after data showed the Chinese economy grew slower than anticipated. China overnight reported growth of 0.8% in the second quarter, above the 0.5% forecast, but the annual pace …
US stocks rise on earnings outlook, global shares dip on China data Read More »
By Abdi Sheikh and Aaron Ross MOGADISHU (Reuters) – Russia’s announcement that it was withdrawing from a pact that allowed Ukrainian grains to leave Black Sea ports sent a shiver through poorer countries, many of which are already reeling from inflation, climate shocks and conflict. The Black Sea grains deal, brokered by the United Nations …
End of Black Sea grains deal promises pain for Africa’s neediest Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar dipped against a basket of currencies on Monday after last week suffering its largest weekly decline this year as Treasury yields tumbled, but held above more than one-year lows reached on Friday with no major catalysts to drive market direction. This week is likely to see …
By Arathy Somasekhar HOUSTON (Reuters) -Oil dropped by more than 1.5% on Monday after weaker than expected Chinese economic growth raised doubts over the strength of demand in the world’s second biggest oil consumer, and a partial restart of halted Libyan output also pressured prices. China’s gross domestic product (GDP) grew 6.3% year-on-year in the …
Oil dips over 1.5% on demand fears after weak Chinese data Read More »
JOHANNESBURG (Reuters) – Credit rating agency Fitch affirmed South Africa’s “BB-” credit rating with a “stable” outlook on Monday, despite record scheduled power cuts and the transfer of most of struggling state utility Eskom’s debt to the government. The government providing 186 billion rand ($10.3 billion) of advances to Eskom and taking on more than …
Fitch affirms South Africa at ‘BB-‘, outlook stable, amid record power cuts Read More »
