JOHANNESBURG (Reuters) -South Africa’s rand weakened on Thursday after U.S. President Donald Trump said his proposed tariffs on Mexican and Canadian goods will go into effect next week. At 1429 GMT, the rand traded at 18.4775 against the U.S. dollar, about 0.2% weaker than its previous close. The dollar last traded about 0.6% stronger against …
South African rand weaker as dollar gains on Trump tariff comments Read More »
(Reuters) -Impala Platinum (Implats) could wind down its palladium mine in Canada earlier than planned if there is no immediate recovery in metal prices, CEO Nico Muller said after a 43% slump in first-half profit. Palladium has plunged from its March 2022 peak of about $3,440 an ounce to current levels around $921 an ounce. …
Impala could close Canadian palladium mine early after price rout Read More »
By Neha Arora NEW DELHI (Reuters) – India is exploring mining of critical minerals in Zambia, Congo and Australia, Mines Secretary V.L. Kantha Rao said on Thursday, as the world’s fastest-growing major economy aims to secure raw materials such as lithium. Companies like Coal India, NMDC and ONGC Videsh are exploring critical minerals in Australia, …
India exploring critical minerals in Zambia, Congo and Australia, official says Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The U.S. dollar rose on Wednesday to move further from recent 11-week lows, as investors assess the strength of the economy and tariffs outlook after the most recent comments from U.S. President Donald Trump. The greenback stumbled on Tuesday as economic data showed a sharp drop in consumer confidence, …
US dollar rises as economic, tariff outlook gauged Read More »
CAIRO (Reuters) – Egypt will increase the minimum wage for public sector workers to 7,000 Egyptian pounds ($138.50) per month from July, aligning it with the private sector’s minimum wage established in early February, Finance Minister Ahmed Kouchouk announced during a press conference on Wednesday. The wage increase forms part of a broader social protection …
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JOHANNESBURG (Reuters) – South Africa’s rand was softer on Wednesday as weak U.S. economic data and uncertainty about U.S. President Donald Trump’s tariff implementation helped the dollar to edge up from recent lows. At 1506 GMT, the rand traded at 18.4125 against the U.S. dollar, about 0.1% weaker than its previous close. The dollar gained …
South African rand weakens as markets process US data, Trump tariff moves Read More »
RABAT (Reuters) – Marsa Maroc, Morocco’s top port operator, said on Wednesday it had won a contract to operate a second terminal at Nador West Med port on the Mediterranean coast. The 18-meter-deep terminal stretches along 1440 meters of quay with a first section of 900 meters to be dedicated to container activity and 540 …
Marsa Maroc to operate second terminal at Morocco’s Nador West Med port Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Multinational food services company Bid Corporation (Bidcorp) sees consumer spending still under pressure in the 33 countries it serves as the cost of living crisis persists, it said on Wednesday after reporting a 6% rise in half-year earnings. The South African-headquartered company, which operates in Europe, Australasia, Africa and other …
South Africa’s Bidcorp reports earnings growth but warns of spending pressure Read More »
ABU DHABI (Reuters) – Egypt aims to move state-owned enterprises to be managed by the country’s sovereign wealth fund, to maximise the return on state assets, Investment Minister Hassan El Khatib said on Wednesday. Egypt has been divesting state assets under a programme to boost the role of the private sector, a requirement imposed by …
Egypt wants to move state-owned enterprises to its sovereign wealth fund, minister says Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) -South African inflation edged up in January in the first release since the statistics agency updated its consumer price basket, but the headline rate remains near the bottom of the central bank’s target range. Inflation rose to 3.2% year on year in January from 3.0% in December, lower than the …
South Africa inflation edges up in first release since basket update Read More »
