JOHANNESBURG (Reuters) – South Africa’s rand was little changed on Friday, after the release of a key U.S. inflation reading and a flurry of local economic data. At 1415 GMT, the rand traded at 18.465 against the dollar, near its previous close. Trade in the South African currency has been volatile in recent sessions amid …
South African rand steady after local data, US inflation reading Read More »
(Reuters) – The platinum market will improve on the back of a growing supply deficit as production declines, Northam Platinum CEO Paul Dunne said on Friday, after the company said its half-year profit halved due to low metal prices. Prices of platinum group metals (PGM), mostly used to curb emissions from vehicles, have fallen sharply …
Northam CEO says platinum market “will turn” from current slump Read More »
By Duncan Miriri CAPE TOWN (Reuters) – Kenya will wait to draw cash from a $1.5 billion privately placed bond in the United Arab Emirates so that it can fit into its budget plans for this financial year, Finance Minister John Mbadi said on Friday. The East African nation has struggled with a surge in …
Kenya will wait to draw down $1.5 billion UAE loan, finance minister says Read More »
(Reuters) – ArcelorMittal South Africa will cease long steel production by April this year after discussions with the government failed to avert the plant’s closure, the company said on Friday. The planned closure of the loss-making long steel operations, blamed on weak domestic demand and competition from local scrap metal recylcing mini-mills and imports from …
ArcelorMittal South Africa to cease long steel production by April Read More »
By Andy Bruce STELLENBOSCH, South Africa (Reuters) – Wage pressures in Britain have raised the risk of inflation holding above the Bank of England’s target, the bank’s Deputy Governor Dave Ramsden said on Friday, though he added that interest rate cuts did not necessarily need to be slow. Ramsden said he had been surprised by …
Wage pressures boost risk of above-target inflation, BoE’s Ramsden says Read More »
NAIROBI (Reuters) -Kenya’s annual consumer inflation rose for the fourth month in a row to 3.5% in February from 3.3% in January, the statistics office said on Friday. Core inflation remained at 2.0% in February, unchanged from January, while non-core inflation rose to 8.2% in February from 7.1% the previous month, the Kenya National Bureau …
Kenya annual inflation rises for fourth month in a row Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose more than 2% on Thursday as supply concerns resurfaced after U.S. President Donald Trump revoked a licence granted to U.S. oil major Chevron to operate in Venezuela. Investors were still keeping an eye on signs of a potential peace deal in Ukraine, which could result in …
Oil climbs more than 2% after Trump cancels Chevron’s Venezuela licence Read More »
By Chris Prentice and Greta Rosen Fondahn NEW YORK/GDANSK (Reuters) – Major Wall Street indexes were mixed on Thursday as fresh U.S. data hurt sentiment, and European stock markets fell following a threat from U.S. President Donald Trump to impose 25% tariffs on imports from the region. Dampening some risk-taking, data showed jobless claims stood …
Tariff risk rattles European shares; Wall Street mixed Read More »
JOHANNESBURG (Reuters) – South African upmarket fashion retailer Truworths reported a 4.6% fall in half-year earnings on Thursday, as squeezed consumers in its main markets in Africa reduced spending on clothes and shoes. Following the rapid post-COVID rise in demand globally and the war in Ukraine which fuelled inflation, interest rates rose sharply in South …
Truworths profit falls nearly 5% as high living costs hit spending Read More »
PARIS (Reuters) -French prosecutors have closed a case filed by Democratic Republic of Congo accusing Apple subsidiaries of using conflict minerals in its supply chain, according to a document seen by Reuters on Thursday. Congo filed criminal complaints against Apple subsidiaries in France and Belgium, its lawyers said in December. Apple said then it strongly …
Paris prosecutor drops case against Apple over Congo minerals, document shows Read More »
