By Caroline Valetkevitch NEW YORK (Reuters) – Global stock indexes fell on Wednesday as Federal Reserve Chair Jerome Powell said the fight to lower inflation still has a “long way” to go, while grains prices jumped on worries about crop shortfalls around the globe. The U.S. dollar was lower and Treasury yields were little changed. …
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By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar fell against a basket of currencies on Wednesday after Federal Reserve Chair Jerome Powell’s comments on the central bank’s ongoing fight to lower inflation failed to live up to the more hawkish market expectations. Powell told lawmakers the fight against inflation still “has a long …
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(Reuters) -South African petrochemicals firm Sasol said on Wednesday it had agreed to form a sustainable aviation fuel (SAF) joint venture with Danish decarbonisation company Topsoe as part of a global drive to combat climate change. Sasol, the world’s biggest producer of fuels and chemicals from coal and gas, is working to cut its emissions …
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JOHANNESBURG (Reuters) – The South African rand ended the day flat on Wednesday, recouping some losses from early trading after data showed consumer inflation had slowed more than expected in May. At 1530 GMT, the rand traded at 18.3850 against the U.S. dollar, close to its previous close of 18.3825. The U.S. dollar was trading …
South African rand steadies after May inflation data Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa’s central bank will for the first time modify the model that partly influences its interest rate decisions, it said on its website on Tuesday. The new, enhanced version of its model, the Quarterly Projection Model (QPM), will factor in more accurately the changing dynamics of South Africa’s …
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By Tannur Anders JOHANNESBURG (Reuters) – Steinhoff International said on Wednesday it had received approval from a Dutch court for a debt restructuring plan, paving the way for resolution of an accounting scandal that brought down one of the country’s biggest retailers. But its shares on the Frankfurt Stock Exchange and the Johannesburg bourse tumbled …
S.Africa’s Steinhoff gains court approval for debt restructure, shares tumble Read More »
JOHANNESBURG (Reuters) – FirstRand, South Africa’s biggest bank by market value, said on Wednesday its non-performing loan ratio would stay below its target range as it maintains its conservative lending stance. South Africa has some of the continent’s biggest banks, which have built up a reputation for conservative lending policies. But the country’s high inflation …
S.African bank FirstRand sees bad loan ratio below target range Read More »
CAIRO (Reuters) – Egypt’s Suez Canal Authority (SCA) is offering a 20% stake in a subsidiary company in line with a government drive to boost the private sector, but selling or leasing the canal is “out of question”, SCA head Osama Rabie said on Wednesday. Rabie said the sale of the 20% stake in the …
Suez Canal Authority to sell 20% of subsidiary in experimental offer Read More »
JOHANNESBURG (Reuters) – South Africa and the governments of the Netherlands and Denmark on Tuesday launched a $1 billion green hydrogen fund to help kick-start an industry seen as critical to the country’s decarbonisation efforts. South Africa’s energy transition plan envisages setting up an ecosystem and export hub for green hydrogen, which is made using …
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CAIRO (Reuters) – Egypt’s Suez Canal Authority has seen revenues reach a record $9.4 billion in the current financial year, which ends on June 30, up from $7 billion in the previous year, Chairman Osama Rabea said on Wednesday. “For the first time in the canal’s history, the authority has achieved revenues of about $9.4 …
Suez Canal annual revenue hits record $9.4 billion – chairman Read More »
