By Angus McDowall TUNIS (Reuters) – Tunisia faces a full-blown crisis in public finances that could destabilise the country with knock-on effects around the central Mediterranean region. European countries offered about 1 billion euros in aid to try to get Tunisia to agree to an International Monetary Fund (IMF) programme, but the offer was meant …
Explainer-Tunisia’s efforts to stave off bankruptcy Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Thursday as the U.S. dollar firmed, bolstered by market expectations of more rate hikes. At 1700 GMT, the rand traded at 18.7800 against the dollar, 0.63% weaker than its previous close. The dollar last traded at 103.29, around 0.3% stronger, against a basket of global currencies. The …
South African rand weakens as US dollar firms, shares flat Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenya’s first low-cost airline Jambojet is leasing used planes as it seeks savings in the face of severe cost pressures from a weaker local currency and high fuel prices, its chief executive said on Thursday. The Kenya Airways owned no-frills carrier is set to receive its eighth DeHavilland Dash …
Kenyan budget carrier Jambojet turns to used planes as costs rise Read More »
By Duncan Miriri and Marc Jones NAIROBI/LONDON (Reuters) – As Pakistan spiralled into crisis this year, Wilson Muthaura pressed its government to put the tea Kenya’s KTDA co-operative produces 3,400 miles away on a list of essentials that would grant importers access to precious U.S. dollars. His urgent lobbying reflects anxiety about a scarcity of …
Analysis-Dollar drought haunts frontier economies Read More »
LUSAKA (Reuters) – Zambia’s debts to the Industrial & Commercial Bank of China and Bank of China will be treated as commercial in debt talks, a senior finance ministry official said Thursday, after a deal was struck with bilateral creditors including China last week. Zambia, which has been in default for nearly three years, reached …
(Reuters) – Germany’s BMW will build its X3 model in South Africa from 2024, investing 4.2 billion rand ($225.09 million) to electrify its plant in Rosslyn, the company said in a statement on Thursday. “From 2024, we will produce the BMW X3 in South Africa as a plug-in hybrid and export it all over the …
BMW to produce electric X3 model at South Africa plant Read More »
(Reuters) – South Africa’s consumer confidence fell further in the second quarter, according to a survey released on Thursday, as the country struggled with soaring fuel and food prices and higher interest rates. The consumer confidence index, sponsored by the First National Bank (FNB) and compiled by the Bureau for Economic Research, fell to a …
South Africa’s Q2 consumer confidence slumps as inflation bites Read More »
By Marc Jones LONDON (Reuters) – A total of 130 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half in advanced development, pilot or launch stages, a closely-followed study shows. The research by the U.S.-based Atlantic Council think tank published on Wednesday said significant progress over …
Study shows 130 countries exploring central bank digital currencies Read More »
By Maytaal Angel and Marcelo Teixeira NEW YORK (Reuters) – Cocoa prices surged to the highest in 46 years on the Intercontinental Exchange in London on Wednesday as bad weather in West Africa threatened production prospects for the main suppliers of the primary raw material used to make chocolate. The benchmark September contract for cocoa …
Chocolate-making ingredient cocoa hits highest price in 46 years Read More »
By Stephen Culp NEW YORK (Reuters) – The Nasdaq Composite Index closed higher and the dollar rebounded on Wednesday as Federal Reserve Chair Jerome Powell suggested two more interest rate hikes are probably in the cards. Of the three major U.S. stock indexes, only the Nasdaq advanced, lifted by megacap momentum stocks led by Tesla …
Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes Read More »
