JOHANNESBURG (Reuters) -The South African rand weakened slightly against the U.S. dollar on Tuesday, as markets remained on edge following Russia’s invasion of Ukraine. At 1503 GMT, the rand stood at 15.3600 against the dollar, down 0.18% versus its previous close. The rand had weakened more than 2% on Monday to hit 15.4933, as the …
South African rand slips as Ukraine-Russia crisis keeps nerves high Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa’s PSG Group Ltd, controlled by one of the country’s richest men Johannes Mouton, plans to distribute $1.2 billion of shares in subsidiaries to shareholders, seeking to close the gap between the value of its assets and stock. The move, which CEO Piet Mouton called the “end of …
S.Africa’s PSG Group to offload $1.2 billion stake in units to investors Read More »
HARARE (Reuters) – South Africa’s Impala Platinum Ltd on Tuesday posted a 9% decline in half-year profit, as work stoppages and power outages hit production. Impala’s headline earnings per share (HEPS) – the main measure of corporate profit in South Africa – fell to 16.90 rand ($1.10) for the half-year that ended Dec. 31 from …
South Africa’s Impala Platinum posts 9% drop in half-year profit Read More »
DUBAI (Reuters) – The Suez Canal posted a 15.1% jump in revenue in February to $545.5 million, the chairman of the authority managing the Egyptian waterway said on Tuesday. Revenue surged after the canal saw a record rise in transit rates, with 1,713 ships passing through the waterway versus 1,532 a year earlier, Suez Canal …
(Removes extraneous word from the headline) DAR ES SALAAM (Reuters) – The World Bank predicts Tanzania’s economy to expand between 4.5% to 5.5% this year compared to 4.3% in 2021, as a rollback of coronavirus-related restrictions in many countries boosts tourism and trade, its country director said on Tuesday. After initially downplaying the severity of …
World Bank sees Tanzania’s economy expanding up to 5.5% this year Read More »
By Aaron Ross DAKAR (Reuters) -A court in Democratic Republic of Congo on Monday appointed a temporary administrator from state miner Gecamines to run China Molybdenum’s Tenke Fungurume mine amid a dispute between the shareholders over reserves of copper and cobalt. The dispute started last August when Congo’s government announced it had formed a commission …
Congo court appoints temporary administrator to run China Moly’s Tenke mine Read More »
JOHANNESBURG (Reuters) – South African manufacturing activity expanded further in February, as better demand supported new sales orders and output volumes, a survey showed on Tuesday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) rose to 58.6 points in February from 57.1 points in January, remaining above the 50-point mark that separates expansion from contraction. “Respondents …
South Africa factory activity expands further in February – Absa PMI Read More »
TUNIS (Reuters) – Tunisia has raised fuel prices by about 3% for the second time in a month due to a sharp rise in oil prices, in an effort to rein in its budget deficit, the Energy Ministry said on Monday. The North Africa country, suffering from its worst financial crisis, is trying to agree …
Tunisia raises fuel prices for second time in a month Read More »
JOHANNESBURG (Reuters) – South Africa recorded a trade surplus of 3.55 billion rand ($230 million) in January, down from a revised surplus of 29.02 billion rand in December, data from the revenue service showed on Monday. Exports fell 16.1% month on month to 130.12 billion rand, while imports were up 0.3% at 126.57 billion rand, …
South Africa trade surplus narrows to 3.55 billion rand in January Read More »
JOHANNESBURG (Reuters) -South Africa’s rand dropped over 2% on Monday, as the fallout from tougher sanctions imposed by the West on Russia over its invasion of Ukraine and the deepening crisis rippled across financial markets and hit risk appetite. At 1420 GMT, the rand was trading at 15.4525 against the dollar, 2.06% weaker than its …
South Africa’s rand drops as risk appetite falters Read More »
