JOHANNESBURG (Reuters) – South Africa recorded reduced foreign direct investment inflows of 26 billion rand ($1.40 billion) in the third quarter of 2023, from 53.8 billion rand in the second quarter, central bank data showed on Thursday. The South African Reserve Bank said in its Quarterly Bulletin that the inflows were due to non-resident parent …
South Africa’s FDI inflows slow in third quarter – central bank Read More »
(Reuters) – South African miner Tharisa on Thursday posted a 31% decline in annual profit, mainly due to a drop in platinum group metal (PGM) output and prices. The PGM and chrome concentrates co-producer’s headline earnings per share (HEPS) – the main profit measure in South Africa – was $0.283 in the year ended Sept. …
S.Africa’s Tharisa full-year profit down 31% on weak PGM prices Read More »
MEXICO CITY (Reuters) – Climate change, worsening armed conflicts, growing debt-loads and shrinking international support will accelerate humanitarian crises worldwide in 2024, the International Rescue Committee (IRC) said in a report on Thursday. In its 2024 Emergency Watchlist, the New York-based IRC pointed to 20 nations largely in Africa at the greatest risk of a …
Humanitarian crises will worsen in 2024 -International Rescue Committee Read More »
(Reuters) – Singapore’s Sembcorp Industries on Thursday said its renewables unit was awarded a 300 mega-watt (MW) solar power project by Indian government-run hydropower producer NHPC Ltd. NHPC in its letter of award confirmed Sembcorp’s unit, Green Infra Wind Energy Ltd’s (GIWEL) final offer, and committed to buying power output from the project for 25 …
Sembcorp’s renewables unit gets 300 MW solar project from India’s NHPC Read More »
By Stephen Culp NEW YORK (Reuters) -U.S. stocks surged to a sharply higher close on Wednesday and benchmark Treasury yields slipped to their lowest level since August after the Federal Reserve flagged the end of its tightening cycle and struck a dovish tone for the year ahead. All three major U.S. stock indexes jumped to …
Dow hits record closing high, Treasury yields sink on dovish Fed Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – African e-commerce firm Jumia Technologies will close its food delivery business in all seven countries in which the unit operates by the end of the year to focus on growing its core online retail business, it said on Wednesday. Jumia is aggressively cutting costs in order to turn profitable, …
African online retailer Jumia to cease food delivery business Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar tumbled against the euro and yen on Wednesday after the Federal Reserve signaled in new economic projections that U.S. interest rate increases have come to an end and lower borrowing costs are coming in 2024. A near unanimous 17 of 19 Fed officials project that the policy …
By Scott DiSavino NEW YORK (Reuters) -Oil prices edged up about 1% on Wednesday from a five-month low in the prior session on a bigger-than-expected weekly withdrawal from U.S. crude storage and on worries about the security of Middle East oil supplies after a tanker attack in the Red Sea. Traders also noted crude prices …
Oil prices up 1% on big U.S. storage withdrawal, tanker attack in Red Sea Read More »
(Reuters) – South Africa’s struggling state power company Eskom said on Wednesday it made a 1.6 billion rand ($84 million) profit after tax in the first six months of its financial year to the end of September. The debt-laden utility has this year implemented the worst power cuts on record in Africa’s most industrialised economy. …
South Africa’s Eskom makes H1 profit but sees full-year loss Read More »
By Sofia Christensen DAKAR (Reuters) – Eight months after her arrest, a heavily pregnant detainee was escorted into court in Senegal’s capital Dakar for the start of a trial for her involvement in a counterfeit money scheme. The 42-year-old had spent the bulk of her pregnancy in overcrowded prison cells, sharing mattresses with up to …
Senegal fits inmates with ankle tags to reduce prison crowding Read More »
