By Patrick Werr CAIRO (Reuters) – The Egyptian pound lost ground on the black market again in recent days in a sign that halving its official value over the past year could still not be enough and the central bank may have to let it slide further. Despite its pledge in October to allow supply …
Analysis-Pressure builds on Egypt to devalue currency further Read More »
By Sruthi Shankar and Francesco Canepa (Reuters) -Investor confidence in the banking sector remained fragile on Tuesday, with the European Central Bank (ECB) saying recent volatility highlighted the need for greater regulatory scrutiny. European bank stocks weakened slightly, while in the U.S. the S&P 500 banking index rose 0.3%, the S&P 500 regional banking index …
Banking rebound remains fragile as regulators review response to failures Read More »
(Reuters) – South African farmers are expected to harvest 2.65% more maize in the 2022/2023 season compared with the previous season, the government’s Crop Estimates Committee (CEC) said on Tuesday. The CEC’s second summer crop forecast estimates the 2023 harvest at 15.88 million tonnes, up from the 15.47 million tonnes harvested last season. The harvest …
South Africa’s maize harvest seen 2.65% higher this year Read More »
By Jorgelina do Rosario and Marc Jones LONDON (Reuters) -Ghana’s government and international bondholders are pushing forward with formal debt talks after advisors to both sides signed non-disclosure agreements, three sources with direct knowledge of the matter told Reuters. The West African country, which suspended payments on most of its external debt last year, has …
By Sinéad Carew NEW YORK (Reuters) – Wall Street equities gained and U.S. Treasury yields rose on Monday as investor concerns about the financial system were calmed after First Citizens BancShares said it would take on the deposits and loans of failed Silicon Valley Bank. The deal offered a respite after weeks of turmoil prompted …
Wall St equities gain, Treasury yields rise as bank worries ease Read More »
KAMPALA (Reuters) – South Africa’s power firm Eskom returned two hydropower plants to Uganda’s government on Tuesday after Ugandan authorities declined to renew its licence, Uganda’s energy minister said. Under a 20-year concession signed in 2002, Eskom had been running the two plants located at the source of the River Nile in Jinja, about 90 …
South Africa’s Eskom returns Ugandan power plants as licence expires Read More »
JOHANNESBURG (Reuters) -South African stocks rose on Monday on easing worries about banking system health in several developed markets, while the rand slipped. U.S. regulators said on Monday they would support a deal for First Citizens BancShares to acquire failed Silicon Valley Bank (SVB), raising hopes that a possible global banking crisis has been averted. …
South African markets rise as banking crisis settles, rand weakens Read More »
JOHANNESBURG (Reuters) – South African lender FirstRand aims to double its home loans linked to clean energy to 2 billion rand ($109.27 million) by next year, it said on Monday, as it seeks to tap a rising demand for solar power from households amid daily power cuts. South Africans are witnessing the worst ever power …
S.Africa’s FirstRand to double ‘green energy’ home loans by next year Read More »
GABORONE (Reuters) – Botswana will take a 24% stake in Belgian gem processing firm HB Antwerp as it seeks to gain more value from its diamonds, President Mokgweetsi Masisi said Monday, a move which might start to loosen De Beers’ grip on the country’s diamond industry. Botswana’s state-owned diamond trading company, Okavango Diamond Company (ODC), …
Botswana partners gem trader HB Antwerp, seeks to loosen De Beers’ grip Read More »
By Andrea Shalal WASHINGTON (Reuters) -Average potential global economic growth will slump to a three-decade low of 2.2% per year through 2030, ushering in a “lost decade” for the world’s economy, unless policymakers adopt ambitious initiatives to boost labor supply, productivity and investment, the World Bank warned on Monday. Failure to reverse the expected broad-based …
World Bank warns of ‘lost decade’ in global growth without bold policy shifts Read More »
