JOHANNESBURG (Reuters) – South Africa’s rand was stable on Wednesday, after data showing domestic inflation rose less than expected last month and November retail sales jumped. At 1502 GMT, the rand traded at 18.50 against the U.S. dollar, not far from its previous close of 18.5125. South Africa’s consumer inflation ticked up to 3.0% year …
South African rand stable after inflation, retail sales data Read More »
DUBAI (Reuters) – Abu Dhabi-listed cryptomining and blockchain conglomerate Phoenix Group has struck an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia, it said on Wednesday, as it pursues a global diversification strategy by entering the Africa market. Under the deal, Ethiopian Electric Power (EEP) will provide the energy needed to support Phoenix’s bitcoin mining …
Abu Dhabi’s cryptomining firm Phoenix Group enters Africa with power purchase deal Read More »
ALGIERS (Reuters) – Algeria’s National Development Hydrocarbon Agency (ALNAFT) signed a deal on Wednesday with U.S. Chevron for offshore cooperation, the energy ministry said in a statement. Algeria, a major gas supplier to Europe, aims to boost its output to satisfy growing demand. (Reporting by Lamine Chikhi;Editing by Elaine Hardcastle)
JOHANNESBURG (Reuters) -South African retail sales jumped in November as consumers benefited from last year’s interest rate cuts, declining inflation and a pension reform that allowed fund members to make partial withdrawals before retirement. Statistics South Africa data showed on Wednesday that retail sales rose 7.7% year on year in November, quicker than October’s revised …
South Africa’s November retail sales jump as consumer outlook improves Read More »
By Sfundo Parakozov and Tannur Anders JOHANNESBURG (Reuters) -South Africa’s inflation rate rose for the second month in a row in December but by less than expected, with analysts saying the central bank was still likely to deliver another interest rate cut next week. Headline consumer inflation ticked up to 3.0% year on year in …
South Africa inflation ticks up but rate cut still seen next week Read More »
LUSAKA (Reuters) -Zambia’s copper output rose 12% in 2024, buoyed by a recovery in production at key mines as the government counts on the sector to drive economic growth. Output reached roughly 820,670 metric tons, up from 732,580 tons the year before, Mines Minister Paul Kabuswe said on Wednesday. Barrick Gold’s Lumwana mine ramped up …
Zambia copper output up 12% last year as key mines recover Read More »
KAMPALA (Reuters) – The Ugandan shilling weakened against the U.S. dollar on Wednesday, on the back of foreign exchange demand by fuel importers and the manufacturing sector, traders said. At 0942 GMT commercial banks quoted the shilling at 3,675/3,685, compared to Tuesday’s close of 3,668/3,678. (Reporting by Elias Biryabarema; Editing by Hereward Holland)
NAIROBI (Reuters) – Kenya’s shilling was marginally stronger against the U.S. dollar on Wednesday, data from the London Stock Exchange Group showed. At 0912 GMT, the shilling traded at 129.00/129.50 per dollar, compared to 129.10/129.60 at the close of trading on Tuesday. (Reporting by Hereward Holland; Editing by Alexander Winning)
JOHANNESBURG (Reuters) – South African fashion and homewares retailer Mr Price on Wednesday reported a 10.6% growth in Christmas-quarter sales, citing improved consumer spending. The discount retailer, which also owns high-end homeware chain Yuppiechef and branded sneaker stores Studio 88, said its comparable store sales in the third quarter ended Dec. 28 grew by 6.3%. …
South African retailer Mr Price reports higher Christmas-quarter sales Read More »
By Shariq Khan NEW YORK (Reuters) – Oil prices fell on Tuesday after U.S. President Donald Trump declared a national energy emergency on his first day in office, raising concerns of higher U.S. output in a market widely expected to be oversupplied this year. Brent crude futures settled down 86 cents, or 1.1%, at $79.29 …
Oil falls as Trump’s plan to boost US oil output takes shape Read More »
