By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar eased against a basket of currencies on Wednesday after data showed U.S. business activity approached the stagnation point in August, with growth at its weakest since February as demand for new business in the vast service sector contracted. S&P Global said its flash U.S. Composite …
Dollar retreats as data shows US economy near stalling point Read More »
NAIROBI (Reuters) -A Kenyan court has given Facebook’s parent company Meta and content moderators suing it for unfair dismissal 21 days to resolve their dispute out of court, a court order showed on Wednesday. The 184 content moderators are suing Meta and two subcontractors after they say they lost their jobs with one of the …
Kenyan court orders mediation in Meta labour dispute Read More »
JOHANNESBURG (Reuters) -South African petrochemicals company Sasol cut its final dividend by almost a third on Wednesday after a 35 billion rand ($1.87 billion) non-cash impairment hit annual profit. On a full-year basis its dividends were still up by 16%, having paid an interim dividend of 7 rand per share compared with nothing at the …
S.Africa’s Sasol cuts final dividend, seeks ways to reverse impairment Read More »
JOHANNESBURG (Reuters) -The South African rand extended gains to trade nearly 2% stronger against the U.S. dollar on Wednesday, after July inflation data came in lower than expected and the greenback slipped. At 1608 GMT, the rand traded at 18.4725 to the U.S. dollar, about 1.8% stronger than its previous close. Earlier in the afternoon …
South African rand extends gains after inflation slows Read More »
ABUJA (Reuters) – A case of procurement fraud against Nigeria’s suspended and detained central bank governor Godwin Emefiele stalled on Wednesday and no new date was fixed for the hearing. Emefiele was meant to enter a plea on Wednesday. But he did not appear in court and his case was not listed on the court’s …
Nigeria’s suspended central bank governor graft case stalls Read More »
CAIRO (Reuters) -Traffic through the Suez Canal has resumed normally, the canal authority said on Wednesday, hours after a collision of two vessels temporarily caused delays. “Slight contact” was made after liquefied natural gas (LNG) carrier BW Lesmes made a sudden stop due to a technical failure that coincided with a strong current that drove …
Suez Canal resumes normal traffic after collision Read More »
GOMA (Reuters) – Nine civilians and three security officials were killed when two neighbouring communities in eastern Democratic Republic of Congo took up arms in a violent land dispute, the army and the head of a local civil society group said on Wednesday. Clashes broke out between the villages of Nyatsa and Adroval in volatile …
By Promit Mukherjee JOHANNESBURG (Reuters) -South Africa signed a raft of deals with China on Wednesday to help it overhaul its creaky energy sector including upgrading its nuclear power plant as the government seeks to ease a severe energy crisis hobbling the economy. The agreements, signed with Chinese power companies on the sidelines of the …
South Africa, China sign power deals during BRICS summit Read More »
JOHANNESBURG (Reuters) -South African inflation approached the midpoint of the central bank’s target range in July, falling to its lowest in two years, data showed on Wednesday. Statistics South Africa said headline consumer inflation slowed to 4.7% year-on-year in July from 5.4% in June, a bigger drop than the 5.0% year-on-year rate analysts polled by …
South Africa’s inflation nears midpoint of target band in July Read More »
By Chris Mfula LUSAKA (Reuters) -Zambia’s central bank on Wednesday increased its benchmark lending rate by 50 basis points to 10.0%, noting that inflation had moved further above its target and was expected to stay high. It was the third time this year that the bank has raised its key rate to try to tame …
Zambia raises rates as inflation moves further above target Read More »
