By Laura Matthews NEW YORK (Reuters) – The U.S. dollar rose against the euro and sterling on Friday, and was on track for its biggest weekly gain since February, as investors shifted to safe havens after consumer sentiment data fueled concern about the U.S. debt ceiling and monetary policy. A University of Michigan survey on …
Dollar on pace for biggest weekly rise since February Read More »
By Christian Akorlie, Jorgelina do Rosario and Rachel Savage ACCRA (Reuters) -Ghana’s official sector creditors have formed a committee co-chaired by China and France for debt restructurings talks, the Paris Club said on Friday, paving the way for a sign-off on a $3 billion International Monetary Fund loan for the country. The West African nation …
Ghana’s official creditors pave way for IMF sign-off on $3 billion loan Read More »
TUNIS (Reuters) – Tunisia raised the purchase price of durum wheat from local farmers, the agriculture minister Abdelmonem Belati said on Friday, amid expectations of a disastrous grain season due to severe drought. The purchase price of durum wheat will increase from 130 dinars to 140 dinars ($45.95) per 100 kg. Tunisia’s grain harvest will …
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JOHANNESBURG (Reuters) – South Africa’s competition watchdog on Friday recommended the approval of a proposed deal for the Takatso Consortium to buy a majority stake in state-owned airline South African Airways (SAA), provided certain conditions are met. The Takatso Consortium was formed when the government announced the deal to sell a controlling stake in SAA …
Competition watchdog backs South African Airways sale, with conditions Read More »
By Khalid Abdelaziz DUBAI (Reuters) – Sudan’s sudden eruption into war has strangled exports of key goods including gold, sesame, peanuts and meat, traders based in Dubai say, depriving it of the foreign currency needed to import staple goods. Fighting between the army and paramilitary Rapid Support Forces is fiercest in Khartoum and has closed …
Sudan’s exports grind to a halt, deepening humanitarian crisis Read More »
By Yousef Saba DUBAI (Reuters) – Advisory and forensic accounting firm Ankura Consulting said on Friday it has acquired sovereign restructuring advisory Newstate Partners as demand from governments grows amid economic uncertainty. Among the sovereign debt restructurings Newstate is advising on are those of Chad, Zambia, Sri Lanka and Suriname, said Spencer Jones, managing partner …
(Reuters) – JPMorgan in a research note on Friday said it now forecast a 0.2% decline in South Africa’s 2023 gross domestic product versus a previous forecast for 0.3% growth, citing expectations for deeper power cuts. The bank added that prolonged power cuts above the current record level referred to as “Stage 6” would worsen …
JP Morgan now expects S.Africa 2023 GDP decline on deeper power cuts Read More »
By Nelson Banya and Felix Njini (Reuters) -Miner AngloGold Ashanti will move its primary listing to New York from the Johannesburg Stock Exchange (JSE), it said on Friday. AngloGold, which completed the sale of its South African assets in 2020, said it would also move its corporate base to the United Kingdom. “The changes announced …
AngloGold Ashanti to shift primary listing to New York Read More »
(Reuters) – International Monetary Fund staff have reached agreement with Senegal on financing facilities totalling about $1.9 billion, the Fund said in a statement. The deal is subject to approval by the IMF executive board, which is tentatively scheduled to consider it in mid-June. Most of the money is a new 36-month financing arrangement under …
IMF staff, Senegal reach agreement on $1.9 billion funding package Read More »
By Herbert Lash NEW YORK (Reuters) -A gauge of global stock performance slid on Thursday after U.S. jobless claims and a modest rise in producer prices suggested a slowing economy, which also pushed Treasury yields lower as it could allow the Federal Reserve to stop raising interest rates. The number of Americans filing new claims …
Stocks, yields fall after data seen halting more Fed rate hikes Read More »
