Thursday, October 18, 2018
Asian foreign exchange traders appeared torn between applauding and jeering the Cabinet appointments President Cyril Ramaphosa announced at 10pm on Monday. The initial reaction to the widely expected return of Nhlanhla Nene as finance minister and appointment of Pravin Gordhan as public enterprises minister saw the rand strengthen to R11.51...
LONDON - Royal Dutch Shell could usurp its largest rival Exxon Mobil as the energy sector’s biggest cash generator after higher oil and gas prices combined with an improved performance lifted its 2017 revenue. Chief Executive Ben van Beurden has made no secret of his desire to challenge the dominance...
WASHINGTON - The Federal Reserve is expected to leave interest rates unchanged on Wednesday while signaling a gradual tightening of monetary policy later this year as the U.S. economy continues to expand and job gains remain solid. Investors will focus on the U.S. central bank’s gauge of inflation, which remains stubbornly below...
TOKYO - Global share markets remained shaky on Thursday as U.S. bond yields crept up towards four-year highs after U.S. congressional leaders reached a two-year budget deal to raise government spending by almost $300 billion. While the deal was a rare display of bipartisanship that should stave off a government shutdown, it...
The rand was range-bound in early morning trade on Tuesday after starting the week on a quiet note. "Risk-on currencies have traded well, but thin-liquidity conditions persist, with small foreign capital outflows recorded last week," an analyst at Nedbank Corporate and Investment Banking (CIB) said. The dollar had made a comeback...
SINGAPORE - Oil prices dropped by more than 1 percent on Tuesday, extending falls from the previous session as global financial markets tumbled lower in the wake of one of the biggest intra-day falls ever registered on Wall Street. Brent crude futures were at $66.91 per barrel at 0530 GMT, down...
MAPUTO - The Mozambican government has  stopped paying housing rentals and selling official vehicles to state  officials, who receive a subsidy equivalent to 30 percent of their basic  monthly salary, a decree law published last Wednesday on the country’s  official bulletin announced. The decree, approved as part of a set...
South African bonds firmed on Wednesday morning, as US treasuries and global equity markets rebounded from their recent precipitous fall. Local bonds benefited on Tuesday, but there has been some volatility in the market as internal ANC battles over the presidency continue. Reports on Wednesday suggested a nascent deal between President Jacob Zuma and ANC president...
The rand was slightly firmer on Thursday morning as the market awaited further clarity on President Jacob Zuma’s expected resignation. Business Day reported that Zuma wanted to say goodbye to the Cabinet and address the nation before resigning. The rand has weakened above R12 to the dollar again amid a lack of progress...
SAN FRANCISCO - Companies snapping up their own shares might provide additional fuel for the U.S. stock market to rebound in coming weeks following a wave of strong quarterly earnings reports and tax cuts that have left more cash on balance sheets. Wall Street’s slump last week, which confirmed it...