By Hannah Lang NEW YORK (Reuters) -The yen touched an eight-week high versus the dollar on Thursday after a Bank of Japan policy board member advocated continued interest rate hikes, while sterling slid as the Bank of England cut rates. The pound fell sharply after the Bank of England cut interest rates as expected, but …
Yen hits 8-week high, sterling drops after Bank of England rate cut Read More »
By Wendell Roelf and Nellie Peyton CAPE TOWN (Reuters) -South African President Cyril Ramaphosa said on Thursday that his country “will not be bullied,” days after U.S. President Donald Trump said he would cut off funding to South Africa over a land reform act. Trump said on Sunday, without citing evidence, that “South Africa is …
South Africa ‘will not be bullied,’ Ramaphosa says after Trump attack Read More »
JOHANNESBURG (Reuters) -The South African rand was little changed on Thursday as investors turned their attention to President Cyril Ramaphosa’s national address for insights on future economic and political policies. At 1515 GMT, the rand traded at 18.5475 against the dollar, not far from its previous close. Ramaphosa will deliver the annual State of the …
South African rand steady ahead of president’s address Read More »
NEW YORK (Reuters) – The International Monetary Fund is “actively engaged” with the Senegalese government regarding the suspension of its financing program after a government audit uncovered last year larger debt and deficit figures than the previous administration reported. “Senegal’s Court of Auditors is expected to issue its final report this month,” said IMF spokesperson …
IMF engaged with Senegal regarding debt, deficit misreporting Read More »
(Reuters) – The CEO of South African coal miner Exxaro Resources, Nombasa Tsengwa, has resigned with immediate effect, the company said on Thursday, two months after she was suspended pending a governance probe. Long-time finance director Riaan Koppeschaar, who has been acting CEO since December, will continue in the role while the company looks for …
South Africa’s Exxaro Resources says CEO Tsengwa has resigned Read More »
By Felix Njini CAPE TOWN (Reuters) – Vedanta Resources VDAN.NS> is trying to raise around $1 billion in debt financing to fund development of its Konkola Copper Mines (KCM) in Zambia, Chris Griffith, head of the company’s base metals unit, said. The Indian company, which owns 80% of KCM, said last year it planned to …
Vedanta aims to raise $1 billion via debt to fund Zambian copper mines Read More »
By Marwa Rashad LONDON (Reuters) -Egypt has signed deals worth about $3 billion with Shell and TotalEnergies to secure 60 cargoes of liquefied natural gas (LNG) to cover demand for 2025, three trading sources told Reuters. The most populous Arab country last year returned to being a net importer of natural gas, buying dozens of …
Exclusive-Egypt signs $3 billion LNG deals with Shell and TotalEnergies Read More »
CAIRO (Reuters) – Inflation in Egypt is forecast to have slid to 23.0% in January, helped by a supportive base effect, according to a poll released on Thursday. The median forecast of 17 analysts polled by Reuters was for annual urban consumer inflation to have fallen to 23.0% from 24.1% in December. The data was …
Egypt inflation forecast to have cooled to 23.0% in January: Reuters poll Read More »
By Elias Biryabarema KAMPALA (Reuters) -Uganda’s central bank held its key lending rate for the second meeting in a row on Thursday, saying near-term inflation appeared well-contained but that the outlook was more uncertain than normal given external risks. The Central Bank Rate was kept at 9.75%. Annual core inflation, which the Bank of Uganda …
Uganda keeps key rate unchanged but flags uncertain outlook Read More »
By Nelson Banya (Reuters) -ArcelorMittal South Africa has delayed the closure of its long-steel plant operations by a month pending talks with the government to try to save the business, it said on Thursday. The company had planned to start winding down the loss-making long-steel business by the end of last month, but has delayed …
ArcelorMittal South Africa long-steel closure delayed pending talks Read More »
