Tuesday, 17th July 2018


Articles related to economy

South Africa's rand firmer ahead of mining, manufacturing data

South Africa’s rand gained on Thursday, reversing the previous session’s slide, as some traders picked up the currency at the current level, assuming the trade conflict between the United States and China would lead to another spell of risk aversion.

At 0700 GMT the rand was 0.44 percent firmer at 13.4875 per dollar, having touched a low of 13.5100…

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Zambia says debt restructuring will not disrupt Chinese projects

Zambia will be careful to ensure its planned debt restructuring does not disrupt Chinese-financed projects, President Edgar Lungu said on Wednesday, after China’s ambassador to the southern African nation sought clarification on the matter.

China is a leading financier of infrastructure projects in Zambia, Africa’s No.2 copper producer, including…

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South Africa's rand on the front foot as dollar slips

South Africa’s rand was firmer early on Monday, inching ahead to a new two-week best as slower-than-expected growth in wages in the United States pressured the dollar and solidified the local currency’s break of key technical levels.

At 0630 GMT the rand was 0.22 percent firmer at 13.4350 per dollar from a close of 13.4600 on Friday in New York.


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Egypt's inflation rate spikes in June amid price hikes

Egypt's official statistics agency says annual inflation increased to 13.8% in June after a new round of austerity measures designed to overhaul the country's economy.

The figure, announced on Tuesday by the Central Agency for Mobilization and Statistics, is an increase from 11.4% in May.

Inflation peaked last summer, hovering around 30 percent…

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South Africa's rand opens weaker in choppy trade

South Africa’s rand edged weaker in early trade on Thursday. 

At 0630 GMT the rand was 0.13 percent weaker at 13.6950, above the 13.60 resistance mark that has recently drawn in sellers looking to pocket dollars cheap. 

“Over the most recent sessions, any sign of rand strength has seen renewed dollar buyers emerge, this scenario (is) not entirely…

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