JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Tuesday following improved local manufacturing output and a weak dollar spurred by expectations of an end to rate hikes in the U.S. The rand traded at 18.53 against the dollar at 1443 GMT, up 1.3% on its previous close. Data from Statistics South Africa showed the country’s manufacturing …
South African rand firms on strong local data, weak dollar Read More »
LONDON (Reuters) – Nigeria and Kenya have both had positive economic policy developments in the last couple of months, one of S&P Global’s top sovereign rating analysts said on Tuesday, adding that South Africa was a slow-moving story of steadily rising debt to GDP. Nigeria is a country that S&P is now “watching closely” Frank …
Credit rating firm S&P Global sees positive signs in Nigeria, Kenya Read More »
(Reuters) – Algerian state energy producer Sonatrach has honored all gas contracts with Spain, whatever the circumstances, Chief Executive Tewfik Hakkar said on Monday. No European customer has asked to set a ceiling for fuel prices, Hakkar said in comments released by the country’s state news agency. The North African oil giant was “in constant …
Algeria’s Sonatrach says it honors all gas contracts with Spain – company chief Read More »
By Lawrence Delevingne and Nell Mackenzie (Reuters) -Wall Street stocks rose slightly on Monday, while oil prices and the dollar dipped, as investors digested Chinese economic data and looked ahead to a key U.S. inflation report and corporate earnings. U.S. stocks gained modestly. The Dow Jones Industrial Average rose 0.62%, the S&P 500 gained 0.24%, …
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar sank to a three-week low on Monday after comments by Federal Reserve officials reinforced market expectations that the U.S. central bank is near the end of its tightening cycle. The Fed, however, is widely expected to raise interest rates by another 25 basis points this month …
US dollar drops to three-week low as Fed rate hikes nearly done Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices eased 1% on Monday on the increasing likelihood of more U.S. interest rate hikes, but crude supply cuts from top oil exporters Saudi Arabia and Russia limited the losses. Brent crude futures settled down 78 cents, or 1%, at $77.69 a barrel after touching their highest level in …
Oil dips 1% on US interest rate fears but OPEC+ cuts limit fall Read More »
JOHANNESBURG (Reuters) -The South African rand was flat on Monday, at the start of a week in which local manufacturing and mining data will be released. At 1513 GMT, the rand traded at 18.8675 against the dollar, 0.04% weaker than its previous close. Statistics South Africa will release May manufacturing output on Tuesday and mining …
South African rand flat; manufacturing and mining data due this week Read More »
By Simon Jessop LONDON (Reuters) – Sustainability-focused asset manager LeapFrog Investments said it plans to invest $500 million in companies addressing climate change in Asia and Africa, with projects it hopes will reach up to 50 million low-income people. The commitment was announced at the Climate Finance Mobilisation Forum in Britain on Monday, attended by …
LeapFrog plans $500 million investment in Asian, African climate transition firms Read More »
By Adam Makary and Aidan Lewis CAIRO (Reuters) -Egypt’s year-on-year headline inflation rose to a record 35.7% in June from 32.7% in May, official data showed on Monday, accelerating past the previous high reached in 2017 and reflecting acute economic strains since early last year. Prices have soared as Egypt has struggled through a shortage …
Egypt’s headline inflation climbs to all-time high of 35.7% in June Read More »
NAIROBI (Reuters) – The High Court of Kenya on Monday dismissed a government bid to unfreeze tax increases that have sparked widespread protests, asking senior judges to direct the case on the hikes that authorities say are needed to cut debt and create jobs. At least two people were killed on Friday during the protests, …
Kenya’s High Court declines government bid to unfreeze tax hikes Read More »
