(Reuters) -South Africa’s rand rose on Monday after the dollar retreated from its latest 20-year high, scaled after hawkish comments from the U.S. Federal Reserve Chair Jerome Powell last week. At 1529 GMT, the rand traded at 16.8350 against the dollar, 0.37% stronger than its previous close. The rand had fallen to 17.0025 earlier in …
South African rand firms as dollar retreats from 20-year high Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Walmart Inc has launched a 6.4 billion rand ($377.6 million) offer for the remaining 47% of South African retailer Massmart it does not already own, valuing it at a premium of over 50%. Shares in Massmart surged 46% after the company announced the news on Monday, as its Chairman Kuseni …
Walmart makes offer to buy out rest of S.African retailer Massmart Read More »
ABIDJAN (Reuters) – Cocoa arrivals at ports in top grower Ivory Coast had reached 2.062 million tonnes by August 28 since the start of the season on Oct. 1, down 4% from the same period last season, exporters estimated on Monday. About 4,000 tonnes of beans were delivered to Abidjan port and 6,000 tonnes to San …
Ivory Coast 2021/22 cocoa arrivals seen at 2.062 million T by August 28 Read More »
NAIROBI (Reuters) – Kenya’s shilling was stable on Monday, and traders said it was expected to weaken due to increased demand for dollars especially from oil marketing companies that exceeded inflows from remittances. At 0657 GMT, commercial banks quoted the shilling at 119.90/120.10 per dollar, the same as Friday’s close. Early on Monday, the shilling …
Kenyan shilling stable, seen easing due to increased importer demand Read More »
(Refiles Aug 26 item to show in paragraph 9 that Ezz al-Arab was speaking before his appointment as adviser to c.bank governor) By Patrick Werr CAIRO (Reuters) – Egypt’s new central bank governor, Hassan Abdalla, faces a daunting task as he tries to repair an economy derailed by an overvalued currency, rampant inflation and a …
Currency tops list of challenges for Egypt’s new central bank governor Read More »
(Refiles Aug 26 item to show in paragraph 9 that Ezz al-Arab was speaking before his appointment as adviser to c.bank governor) By Patrick Werr CAIRO (Reuters) -Egypt’s new central bank governor, Hassan Abdalla, faces a daunting task as he tries to repair an economy derailed by an overvalued currency, rampant inflation and a banking …
Currency tops list of challenges for Egypt’s new central bank governor Read More »
TUNIS (Reuters) – Some Tunisian shops are rationing goods including cooking oil, sugar and butter, while big queues have hit petrol stations amid a fuel shortage as the government navigates a looming crisis in public finances. Some grocery shops have restricted customers to single packs of items in short supply, while queues outside petrol stations …
(Reuters) -South Africa’s rand weakened against the dollar on Friday as Federal Reserve Chief Jerome Powell’s comments suggested the U.S. central bank will keep raising interest rates to tame inflation. At 1531 GMT, the rand traded at 16.8175 against the dollar, down 0.58% from its previous close. In the absence of major domestic economic data, …
South African rand weakens on hawkish Fed; stocks slip Read More »
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s GDP grew 3.54% in the second quarter, down from 5.01% in the same period last year, as oil production fell and inflation rose, the national statistics office said on Friday. Africa’s top oil producer, Nigeria is battling to curb large-scale crude oil theft, which President Muhammadu Buhari has said …
Nigeria’s GDP slows to 3.54% y/y in Q2 on lower oil output, inflation Read More »
NAIROBI (Reuters) – The Kenyan shilling weakened slightly on Friday, hurt by strong end-month demand from the energy sector, traders said. At 0820 GMT commercial banks quoted the shilling at 119.90/120.10 compared to Thursday’s close of 119.85/120.05. ………………………Shilling spot rates …………………Shilling forward rates …………………..Cross rates …………………………….Local contributors …………………..Central Bank of Kenya Index …………………Kenyan Bonds contributor …
Kenyan shilling eases on pressure from energy sector Read More »
