Reuters Video Archives - Page 255 of 304

South African rand rallies against weaker dollar, rate decisions in focus

24 Jan 2025 24 Jan 2025

JOHANNESBURG (Reuters) -South Africa’s rand strengthened against a weaker dollar on Friday after U.S. President Donald Trump demanded lower interest rates from the Federal Reserve, with eyes also on the South African Reserve Bank’s (SARB) rate decision next week. At 1406 GMT, the rand traded at 18.37 against the U.S. dollar, about 0.9% firmer than …

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Morocco plans 990MW gas power plant worth $420mln in north

24 Jan 2025 24 Jan 2025

By Ahmed Eljechtimi RABAT (Reuters) – Morocco’s water and electricity utility (ONEE) plans to build a 990-megawatt (MW) gas-fired power plant at a cost of 4.15 bln ($420 mln), bourse regulator AMMC said. ONEE will fund 20% of the project, while the remaining 80% will come from loans by Morocco’s largest lender Attijariwafa Bank and …

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S.Africa’s Richards Bay exports up 10% in 2024 amid rail improvement

24 Jan 2025 24 Jan 2025

(Reuters) – Coal exports from South Africa’s Richards Bay Coal Terminal (RBCT) rose 10% to 52.08 million metric tons in 2024, the highest in three years, amid signs of improving freight rail performance. South Africa’s coal shipments have declined from 76 million tons in 2017, mainly due to state-owned freight rail and port operator Transnet’s …

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Kenyan shilling flat against U.S. dollar

24 Jan 2025 24 Jan 2025

(Reuters) – Kenya’s shilling was flat against the U.S. dollar on Friday, data from the London Stock Exchange Group showed. At 1024 GMT, the shilling traded at 129.00/129.50 per dollar, the same as at the close of Thursday’s session, the data showed. (Reporting by Hereward Holland; Editing by Elias Biryabarema)

Ugandan shilling little-changed against dollar, under pressure

24 Jan 2025 24 Jan 2025

KAMPALA (Reuters) – The Ugandan shilling traded broadly stable on Friday, although was under slight pressure as energy importers sought foreign exchange, traders said. At 0958 GMT commercial banks quoted the shilling at 3,684/3,694, compared to Thursday’s close of 3,680/3,690. (Reporting by Elias Biryabarema; Editing by Hereward Holland)

South Africa’s TFG sales rise 8.4% during Christmas quarter

24 Jan 2025 24 Jan 2025

JOHANNESBURG (Reuters) – South African upmarket fashion retailer TFG reported an 8.4% rise third-quarter sales on Friday, driven by increased spending by shoppers over the key Black Friday and Christmas trading period. Consumers across TFG’s three regions in Africa, London and Australia had been grappling with high living costs which sapped discretionary spending in its …

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Oil falls as Trump urges OPEC to lower prices

23 Jan 2025 23 Jan 2025

By Nicole Jao NEW YORK (Reuters) -Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum. Uncertainty over how Trump’s proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on prices. …

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Microsoft to train 1 million South Africans on AI skills

23 Jan 2025 23 Jan 2025

By Nqobile Dludla JOHANNESBURG (Reuters) – Microsoft aims to provide 1 million people in South Africa with artificial intelligence (AI) and cyber security training opportunities by 2026, Lillian Barnard, President for Microsoft Africa, said on Thursday. Microsoft’s (AI) national skilling initiative targets a broad audience, and in South Africa will prioritise all sectors from companies …

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Nigeria’s central bank says GDP to grow 4.17% in 2025, inflation to ease

23 Jan 2025 23 Jan 2025

LAGOS (Reuters) – Nigeria’s central bank expects the economy to expand by 4.17% this year, Governor Olayemi Cardoso said on Thursday, driven by ongoing reforms and stabilising inflation. Reforms instituted by President Bola Tinubu in 2023, including scrapping a subsidy on petrol and twice devaluing the naira currency, have stoked inflation in Africa’s most populous …

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Ugandan shilling flat as FX appetite subdued, traders say

23 Jan 2025 23 Jan 2025

KAMPALA (Reuters) – The Ugandan shilling was flat on Thursday, with demand for hard currency subdued from importers and on the interbank market, traders said. At 0941 GMT commercial banks quoted the shilling at 3,680/3,690 to the U.S. dollar, the same level as at Wednesday’s close. (Reporting by Elias Biryabarema; Editing by Alexander Winning)