(Reuters) – Nigeria’s central bank moved to liberalize foreign exchange trading on Wednesday, capping a dramatic day that saw the official Naira rate devalued by more than a third. In a statement issued after the end of the trading day in New York, the central bank said all FX trading would now take place at …
Nigeria’s central bank moves to unify exchange rates Read More »
By Sinéad Carew (Reuters) – MSCI’s global equity index closed slightly higher on Wednesday after a volatile afternoon while the dollar cut its losses after the U.S. Federal Reserve paused interest rate hikes as was widely expected but signalled that it could raise rates by another half percentage point by year-end. The central bank issued …
Stocks rise, dollar pares losses after Fed signals more hikes ahead Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar slid on Wednesday after the Federal Reserve held interest rates steady, as expected, but signaled that borrowing costs will increase by another 50 basis points (bps) by end-December. The dollar index was last down 0.3% at 103.01 after hitting a four-week low of 102.66 in …
US dollar falls, but off four-week lows, as Fed signals more rate hikes Read More »
DAKAR (Reuters) – The government of the Republic of Congo has said it will not recognise Societe Generale’s sale of its country subsidiary to Vista Group because the bank did not give it a right of first refusal. Congo’s finance ministry said in a statement dated June 12 that it was surprised by the announcement …
Republic of Congo rejects SocGen’s sale of subsidiary to Vista Group Read More »
By Arathy Somasekhar HOUSTON(Reuters) – Oil prices fell 1.5% on Wednesday after the U.S. Federal Reserve projected more interest rate hikes this year, worrying markets about demand just hours after government data showed an unexpected, large build in U.S. crude oil stocks. Brent crude futures settled $1.09, or 1.5%, lower at $73.20 a barrel, while …
Oil drops 1.5% as Fed projects more rate hikes this year Read More »
By Amindeh Blaise Atabong DOUALA (Reuters) -South African mobile operator MTN Group said on Wednesday that its Cameroon operations were threatened by the seizure of its bank accounts in the country as part of a dispute in which it plays no part. MTN Cameroon’s accounts with more than 14 billion CFA francs ($22 million) have …
MTN says asset seizure in Cameroon threatens operations Read More »
By Duncan Miriri NAIROBI (Reuters) -Companies from Saudi Arabia bought more than 2.2 million tonnes of carbon credits on Wednesday as the Kenyan capital hosted what organisers have billed as the world’s largest sale of its kind. Demand for carbon offsets, generated through projects such as tree planting or using cleaner cooking fuel, is expected …
Saudi companies buy 2.2 million tonnes of carbon credits in Kenya auction Read More »
JOHANNESBURG (Reuters) -The South African rand jumped against the dollar on Wednesday, ahead of the U.S. Federal Reserve’s interest rate decision. At 1535 GMT, the rand traded at 18.3025 against the dollar, about 1.8% stronger than its previous close. The dollar was last down 0.56% at 102.72. “The market is holding its breath for the …
South African rand jumps ahead of Fed rate decision Read More »
By Tannur Anders JOHANNESBURG (Reuters) -South Africa’s rolling blackouts have cost Spar more than 700 million rand ($38 million) in diesel for generators over a six month period, the retailer said, as it warned of much higher spending if the power situation deteriorates. Crippling power cuts are leaving households and businesses in the dark for …
Spar fears rising diesel spend amid South African outages Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to a three-week low on Tuesday on news of the smallest annual increase in inflation last month in more than two years, cementing expectations that the Federal Reserve will pause interest rate hikes at its two-day meeting ending on Wednesday. The dollar index slid as …
Dollar skids to three-week low as US inflation data reinforces Fed pause view Read More »
