By Shariq Khan BENGALURU (Reuters) -Oil prices rose by more than a dollar a barrel on Friday as supplies tightened in some parts of the world and U.S. inflation data indicated price rises were slowing. The most actively traded Brent futures, for June delivery, were up $1.05 or 1.3% at $79.65 a barrel by 12:55 …
Oil rises more than 1% on tightening supplies, cooling US inflation Read More »
JOHANNESBURG (Reuters) -The majority of South Africa’s public sector unions on Friday agreed to a 7.5% wage increase after five months of strike action, the government said in a statement. The two-year, multi-term deal is significantly higher than what the government had factored into its 2023 budget and will put efforts to manage runaway public …
South Africa’s unions, government agree 7.5% wage hike Read More »
By Chris Mfula LUSAKA (Reuters) – U.S. Vice President Kamala Harris, on a week-long tour of Africa, on Friday urged Zambia’s bilateral creditors to expedite the restructuring of its debts. Harris said the government in Lusaka had put in place measures to strengthen its economy and should be supported with debt relief. She was speaking …
Kamala Harris urges Zambia creditors to expedite debt restructuring Read More »
JOHANNESBURG (Reuters) – South African power utility Eskom said on Friday its half year profit fell by nearly two-thirds, driven by rolling power cuts and poor plant performance. Debt-saddled Eskom has struggled for years to meet electricity demand in the country, plunging Africa’s most developed economy into hours of power cuts, hurting industry output and …
S.African utility Eskom’s interim profit drops almost two-thirds Read More »
JOHANNESBURG (Reuters) -South African stocks slipped as the rand firmed on Friday, a day after the central bank hiked interest rates more than expected. The South African Reserve Bank (SARB) raised its main lending rate by 50 basis points to 7.75% on Thursday, twice the 25 basis point increase that most economists had predicted, sending …
South African shares dip, rand gains after central bank rate hike Read More »
NAIROBI (Reuters) – Kenya’s annual inflation rate in March was unchanged from the previous month at 9.2%, the statistics office said on Friday. On a monthly basis, inflation stood at 0.8% compared with 0.6% in February, the Kenya National Bureau of Statistics said in a statement. (Reporting by George Obulutsa; Editing by Hugh Lawson)
By Sinéad Carew NEW YORK (Reuters) – Stock indexes advanced on Thursday but finished below their session highs while the dollar declined as investors turned their focus to upcoming inflation data and the outlook for interest rate hikes. Longer-dated U.S. Treasury yields fell ahead of personal consumption expenditures (PCE) data due out Friday. Economists polled …
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar fell to a 1-week low against the euro on Thursday as German inflation data helped lift the common currency and as concerns over the banking sector receded. Inflation eased significantly in Germany in March on the back of lower energy prices but was above forecasts, …
(Reuters) – The Central Bank of Egypt (CBE) raised its overnight interest rates by 200 basis points (bps) on Thursday following a meeting of its Monetary Policy Committee (MPC), saying it aimed to bring high inflation into check. The bank set the lending rate at 19.25% and the deposit rate at 18.25%. The median forecast …
Egypt’s cenbank raises interest rates by 200 bps to tame inflation Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – Rolling power cuts, vandalism and battery theft have forced MTN Group’s South African arm to invest 1.5 billion rand ($84 million) to ensure its mobile network operates effectively. South African state electricity utility Eskom is implementing the worst rolling blackouts on record as its ageing coal plants fail, leaving …
South Africa power cuts, vandalism, theft prompt MTN security moves Read More »
