Reuters Africa - Squid Business

Kenya’s shilling eases due to general increase in importer FX demand

NAIROBI (Reuters) – Kenya’s shilling weakened on Thursday, undermined by a general increase in importer demand for dollars that outstripped inflows, traders said. At 1135 GMT, commercial banks quoted the shilling at 150.30/50 per dollar, compared with Wednesday’s closing rate of 150.10/30. Earlier on Thursday, the shilling touched a new all-time low of 150.35/55 per …

Kenya’s shilling eases due to general increase in importer FX demand Read More »

Zambia clinches milestone debt restructuring deal with bondholders

By Rachel Savage JOHANNESBURG (Reuters) -Zambia said on Thursday it had reached an agreement in principle on restructuring $3 billion of its international bonds with a key creditor group – a milestone in its drawn-out debt rework process. The deal proposes to restructure claims on three existing bonds by issuing two new “amortising” bonds – …

Zambia clinches milestone debt restructuring deal with bondholders Read More »

S.Africa’s Transnet seeks government bailout as debt mounts

(Reuters) -South Africa’s state-owned logistics company Transnet has requested an unspecified cash injection from the government as it seeks to reduce debt and return to profitability, it said on Thursday. “Transnet has requested that national Treasury provide an equity injection to support the recovery plan implementation needed to reduce debt and meet required financial ratios …

S.Africa’s Transnet seeks government bailout as debt mounts Read More »

South Africa producer inflation quickens to 5.1% y/y in September

JOHANNESBURG (Reuters) – South Africa’s producer inflation quickened to 5.1% year on year in September from 4.3% in August, statistics agency data showed on Thursday. On a month-on-month basis, the producer price index was at 1.5% in September from 1.0% the previous month, Statistics South Africa said. (Reporting by Bhargav Acharya; Editing by Alexander Winning)

Tunisia brush-off augurs badly for EU push for African migration deals

By Gabriela Baczynska and Tarek Amara BRUSSELS/TUNIS (Reuters) -When Tunisian President Kais Saied this month rejected 60 million euros ($63 million) in EU aid, the bloc got a taste of the risks and challenges it will face as it seeks new pacts with African states to reduce irregular Mediterranean immigration. Spurred by Italy and Spain, …

Tunisia brush-off augurs badly for EU push for African migration deals Read More »

Stocks struggle as soft earnings compound interest rate headache

By Lawrence Delevingne (Reuters) -Stocks slipped on Wednesday after the latest round of earnings prompted concern among investors over the economic outlook, adding to the angst over painfully high interest rates, while benchmark U.S. Treasury yields and the dollar ticked up. Shares of Alphabet Inc plunged nearly 10% after the Google parent reported disappointing cloud …

Stocks struggle as soft earnings compound interest rate headache Read More »

Oil prices settle up about 2% on worries about Middle East

By Nicole Jao NEW YORK (Reuters) -Oil prices rose about 2% on Wednesday, buoyed by worries about conflict in the Middle East, but gains were capped by higher U.S. crude inventories and gloomy economic prospects in Europe. Brent crude futures rose $2.06, or 2.34%, to settle at $90.13 a barrel. U.S. West Texas Intermediate (WTI) …

Oil prices settle up about 2% on worries about Middle East Read More »

Dollar up as risk sentiment sours, Treasury yields rise

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose to a near 1-week high against a basket of currencies on Wednesday, as investors’ appetite for riskier currencies faded following lacklustre corporate results that raised worries over the economic outlook, and as Treasury yields rose. Risk sentiment took a hit as tech giant Alphabet …

Dollar up as risk sentiment sours, Treasury yields rise Read More »

Sudan army, paramilitary RSF to return to negotiations

By Nafisa Eltahir, Khalid Abdelaziz and Daphne Psaledakis CAIRO/DUBAI (Reuters) – Sudan’s army and paramilitary Rapid Support Forces (RSF) said they will return to the U.S.- and Saudi-convened negotiations in Jeddah on Thursday, as a six-month war has taken its toll on the country and on both forces. The Sudanese army on Wednesday accepted the …

Sudan army, paramilitary RSF to return to negotiations Read More »

South African rand softens in face of dollar strength

JOHANNESBURG (Reuters) -South Africa’s rand edged lower against a stronger dollar on Wednesday, taking global direction in the absence of local data. At 1630 GMT, the rand traded at 19.0850 against the dollar, 0.3% weaker than its previous close. The dollar rose more than 0.1% against a basket of global currencies as investor appetite for …

South African rand softens in face of dollar strength Read More »