JOHANNESBURG (Reuters) – AngloGold Ashanti is boosting payouts to investors, it said on Wednesday, after its profit surged to $954 million last year from a loss of $46 million in the prior year, buoyed by the precious metal’s rally to record highs. Shares in the company however fell as much as 7.4% in early trading …
AngloGold returns to profit after gold price rally Read More »
By Wendell Roelf, Kopano Gumbi and Olivia Kumwenda-Mtambo CAPE TOWN (Reuters) – South Africa’s national budget was postponed on Wednesday because the two biggest parties in the ruling coalition disagreed over raising value-added tax, an unprecedented delay that caused the rand and government bonds to fall. The speaker of the National Assembly, Thoko Didiza, told …
South African budget delay over VAT hike shows cracks in coalition Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back taxes, court documents showed on Wednesday. Authorities blame Binance, the world’s largest crypto exchange, for Nigeria’s …
Nigeria suing Binance for $81.5 billion in economic losses and back tax Read More »
By Tannur Anders and Sfundo Parakozov JOHANNESBURG (Reuters) – South Africa’s rand weakened on Wednesday, after the national budget was postponed until further notice due to disagreements within the coalition government. At 1402 GMT, the rand traded at 18.57 against the dollar, down more than 0.9% from its previous close. After his budget speech was …
South African rand slides after national budget postponed Read More »
(Reuters) – Sibanye Stillwater expects to report a loss for the 2024 financial year after a $500 million asset writedown at its U.S. platinum group metal operations, mainly because of lower palladium price forecasts, it said on Wednesday. The company said it expects to report a loss per share of between 2.45 rand and 2.71 …
Sibanye flags full-year loss after $500 million US impairment Read More »
JOHANNESBURG (Reuters) – South African retail sales rose 3.1% year on year in December after rising by a revised 7.6% in November, Statistics South Africa figures showed on Wednesday. Retail sales fell 0.1% month on month in December. (Reporting by Bhargav Acharya; Editing by Alexander Winning)
(Reuters) – Diversified miner Sibanye Stillwater said on Wednesday it had reached a chrome management deal with Glencore’s Merafe Venture in South Africa as it seeks to partially offset the impact of an extended platinum metal price slump. Chrome is a by-product of platinum mining, and South African miners including Sibanye are reporting increased income …
S. Africa’s Sibanye signs chrome pact with Glencore amid platinum price slump Read More »
KAMPALA (Reuters) – The Ugandan shilling was firmer on Wednesday, underpinned by some hard currency inflows from exporters of agricultural commodities and charities, traders said. At 1005 GMT commercial banks quoted the shilling at 3,672/3,682, compared to Tuesday’s close of 3,680/3,690. (Reporting by Elias Biryabarema; Editing by Hereward Holland)
By Siyi Liu and Chen Aizhu SINGAPORE (Reuters) – Chinese refiners have stepped up purchases of Brazilian and West African crude as they reorganise sourcing around sanctions and tariff disruptions, and after prices of Middle Eastern grades surged. Tougher U.S. sanctions on Russia and Iran as well as Beijing’s new import tariffs on U.S. oil …
China refiners buy more Brazilian, W.African crude as sanctions, tariffs disrupt supply Read More »
NAIROBI (Reuters) – Kenya tourism sector earnings are expected to jump to 650 billion shillings ($5 billion) this year from 452.2 billion shillings last year, Tourism Minister Rebecca Miano said on Wednesday. Miano said the 2024 earnings were up 20% compared with a year earlier. The sector alongside tea exports and remittances are Kenya’s major …
Kenya tourism sector earnings to rise to 650 billion shillings in 2025, minister says Read More »
