JOHANNESBURG (Reuters) -The South African rand gained against the dollar on Tuesday as the U.S. currency fell ahead of inflation data, which could provide some clues on the monetary policy trajectory of the Federal Reserve. At 1556 GMT, the rand traded at 18.3825 against the dollar, 0.58% stronger than its previous close. The dollar index, …
South African rand gains as dollar slips ahead of U.S. inflation data Read More »
DAKAR (Reuters) – A subsidiary of the Democratic Republic of Congo’s state mining company Gecamines said on Tuesday it had secured $75 million in funding to build a new hydro-metallurgical unit to produce materials used in the manufacturing of semiconductors. STL, a company focused on making commercial use of a slag heap in Lubumbashi, capital …
Subsidiary of Congo’s Gecamines secures $75 million to build new unit Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenya will not default on its debt repayment obligations, the president’s chief economic adviser said, as the government delayed payment of civil service salaries due to a cash squeeze caused by massive interest payments. President William Ruto won a hotly contested election last August on a platform of planning …
Kenyan presidential adviser rules out default as cash crunch delays salaries Read More »
By Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Zambia and Ghana for restructuring of their sovereign debts, and moves to conclude a debt treatment for Sri Lanka, Treasury said on Monday. Yellen, who is slated to meet counterparts from around the world during …
Yellen to push for ‘speedy’ action on debt relief for Zambia, Ghana Read More »
By Herbert Lash NEW YORK (Reuters) -U.S. stocks closed mostly flat and the dollar rose on Monday after strong jobs data last week pointed to the Federal Reserve hiking interest rates in May, while the yen eased after Japan’s new central bank governor vowed to maintain ultra-loose policy. Gold prices slipped below the key $2,000 …
Wall Street meanders, dollar gains as Fed rate hike seen in May Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar firmed on Monday after Friday’s solid jobs report boosted expectations for a U.S. interest rate hike in May, while the yen weakened as new Bank of Japan Governor Kazuo Ueda signaled no hurry to dial back its massive stimulus. U.S. employers hired at a strong pace …
Dollar gains on Fed rate hike bets, yen dips on Ueda comments Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower on Monday, after rising for three straight weeks, as concern about further interest rate hikes that could curb demand balanced the prospect of a tighter market due to supply cuts from OPEC+ producers. The U.S. dollar rose after U.S. jobs data pointed to a tight labor market, …
Oil settles lower as rate-hike worries balance tighter supplies Read More »
WASHINGTON (Reuters) – Cameroon is working to boost export revenues to fend off a potential debt crisis and has relaunched talks with the U.S. to rejoin Washington’s flagship trade initiative with Africa, its economy minister said on Monday. The economic fallout from the COVID-19 pandemic and the subsequent global shocks provoked by the war in …
Cameroon aims to boost export revenues, rejoin AGOA – minister Read More »
CAIRO (Reuters) – Egypt’s annual urban consumer inflation rate in March climbed to 32.7% year-on-year, just shy of an all-time record, from 31.9% in February, data from the country’s statistics agency CAPMAS showed on Monday. Month-on-month, urban inflation slowed to 2.7% in March from 6.5% in February and 4.7% in January. Egypt’s surging inflation rate …
Egypt’s headline inflation rate increased to 32.7% in March Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. Treasury yields and the dollar climbed in an abbreviated session on Friday after employment data for March indicated the labor market remained tight last month, raising the odds that the Federal Reserve has at least one more rate hike in store. Wall Street exchanges were closed until …
