By Laura Sanicola (Reuters) -Oil prices settled higher on Monday, reversing losses as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer. Brent crude settled up $1.07, or 1.3%, at $82.73 a barrel while U.S. West Texas Intermediate crude settled up 89 cents, or 1.1%, at …
Oil prices settle higher on optimism about fuel demand in China Read More »
LONDON (Reuters) – Zambia has sent a debt restructuring proposal to its official creditors, a spokesperson for the government’s advisors said on Monday. The country, which was the major sovereign casualty of the COVID-19 pandemic and has been in default since 2020, said on Friday it would share a first fully-formed debt restructuring plan with …
Zambia has sent debt restructuring proposal to official creditors Read More »
JOHANNESBURG (Reuters) -The South African rand slipped on Monday as markets awaited economic data out of the U.S. later this week, which could influence the Federal Reserve’s rate-hiking cycle. At 1512 GMT, the rand traded at 18.1550 to the dollar, down 0.28% from its Friday close. The U.S. currency was last down 0.18% against a …
South African rand slips as markets await U.S. economic data Read More »
KAMPALA (Reuters) – Uganda’s coffee exports edged up in March compared to a year earlier, as exporters released larger volumes from warehouses to cash in on favourable global prices for robusta beans, the state-run sector regulator said. The east African country is Africa’s biggest coffee exporter followed by Ethiopia and predominantly cultivates the robusta variety …
Uganda’s March coffee exports up 2% on favourable prices Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks declined for a third straight day on Friday as investors weighed the latest round of corporate earnings results, while longer-dated U.S. yields were higher after a gauge of business activity climbed. On Wall Street, the S&P 500 closed slightly higher, with the consumer …
Stocks edge down, US yields climb after PMI data Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices edged higher on Friday on strong economic data in the euro zone and Britain, but futures fell for the week as interest rate and demand uncertainty weighed. Brent futures settled up 56 cents at $81.66 per barrel. U.S. West Texas Intermediate crude (WTI) rose 50 cents to $77.87 …
Oil rises but post weekly loss as economic uncertainty weighs Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar was little changed to slightly higher against major currencies on Friday, as business activity data suggested that the world’s largest economy remained resilient, supporting expectations of another 25-basis-point interest rate increase by the Federal Reserve at next month’s policy meeting. Against commodity currencies, the greenback …
US dollar flat to modestly higher as upbeat data backs May rate hike Read More »
JOHANNESBURG (Reuters) – The South African rand weakened on Friday, as rising expectations that the U.S. Federal Reserve will raise interest rates by 25 basis points (bps) in May lent support to the dollar. At 1513 GMT, the rand traded at 18.0800 against the dollar, down 0.33% from its previous close. The dollar was marginally …
South African rand weaker as Fed rate bets support dollar Read More »
JOHANNESBURG (Reuters) – Labour unions rejected a 3.75% pay rise offer from South Africa’s power utility Eskom as it is below the rate of inflation, union representatives said on Friday. Unions are demanding a 15% increase in wages at Eskom, which is implementing rolling blackouts of about 10 hours a day as it struggles to …
South African labour unions reject Eskom pay offer Read More »
By Marc Jones and Jorgelina do Rosario LONDON (Reuters) -Zambia will send its first fully-formed debt restructuring plan to China and other government creditors “very soon” the government’s legal advisors said, as it looks to capitalise on fresh momentum seen in high-level talks in recent days. Zambia has been in default since 2020 when it …
Zambia to send debt restructuring plan to China, other creditors ‘very soon’ Read More »
