By Laura Sanicola (Reuters) – Oil prices settled nearly unchanged on Thursday after the European Central Bank (ECB) decided to slow the pace of interest rate hikes, with prices still down more than 9% for the week on demand concerns in major consuming countries. Brent futures settled up 17 cents, or 0.24%, to $72.50 a …
Oil settles narrowly mixed after smaller ECB hike; demand concerns linger Read More »
JOHANNESBURG (Reuters) -South African stocks fell on Thursday as worries about the banking sector rippled around the globe, while the rand gave up gains from earlier in the day which had come after the Federal Reserve had suggested it may stop hiking rates. The banking sector dampened the local market, sliding almost 3.2%. Shares on …
South African stocks fall after Fed signals pause, rand slips Read More »
By Camillus Eboh ABUJA (Reuters) -Nigeria’s lower house of parliament on Thursday approved a plan to restructure 23.7 trillion naira ($52 billion) in short-term loans due to the central bank to long-term debt, a day after the Senate gave its consent. Nigerian government revenues are under pressure as oil production fell due to crude theft …
Nigerian lawmakers approve restructure of $52 billion in cenbank loans Read More »
LONDON (Reuters) – The U.S. Federal Reserve is close to the end of its interest rate hiking cycle, while the European Central Bank on Thursday slowed the pace of its aggressive tightening. Turmoil in the banking sector, particularly in the United States, is adding to central banks’ difficulties, leaving them juggling the need to control …
Central banks stick to rate hikes with eye on market turmoil Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Pick n Pay’s 2023 earnings may not exceed those of the previous year if rolling power cuts persist, the South African supermarket chain said after reporting weaker earnings on Thursday, hit by energy and store revamp costs. Shares of the country’s second-biggest supermarket chain were down 7.09% by 11135 GMT, …
S.Africa’s Pick n Pay warns earnings may fall again if blackouts persist Read More »
NAIROBI (Reuters) – Kenya’s private sector activity fell in April as both the manufacturing and services sectors slowed, with inflation and political unrest leading to a drop in consumer demand and dampening the outlook, a survey showed on Thursday. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 47.2 from 49.2 in March. Readings …
Kenya private sector activity falls in April – PMI Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia will issue up to five banking licenses to foreign investors in the next five years, part of plans to open up the financial services sector to foreign competition, a senior central bank official said on Wednesday. Prime Minister Abiy Ahmed’s government has promised to open up sectors …
Ethiopia to offer up to five banking licenses to foreign investors Read More »
(Corrects firm name to RBC Wealth Management from RBC Portfolio Advisory Group in paragraph 5) By Sinéad Carew NEW YORK (Reuters) – MSCI’s gauge of stock markets around the world was advancing but trading was choppy on Wednesday while U.S. Treasury yields and the U.S. dollar steepened declines after the U.S. Federal Reserve raised interest …
By Karen Brettell NEW YORK (Reuters) – The dollar fell on Wednesday after the Federal Reserve raised interest rates by a quarter of a percentage point and signaled it may pause further increases. In an overt shift, the central bank no longer said it “anticipates” further rates will be needed, only that it will watch …
Dollar holds losses after Fed hikes, signals pause Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell 4% on Wednesday, extending steep losses from the previous session after the U.S. Federal Reserve raised interest rates and as investors fretted about the economy. Brent futures settled $2.99 lower, or 4%, to $72.33 a barrel, the global benchmark’s lowest close since December 2021. Brent hit …
Oil falls 4%, extending losses after Fed rate hike Read More »
