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Sunday, 20th May 2018
3:44:13pm

Economy

Articles related to economy

Nigeria's parliament passes record 9.12 trln naira 2018 budget

Nigeria’s parliament passed a record 9.12 trillion naira ($29.8 billion) budget for 2018 on Wednesday aimed at boosting growth in west Africa’s biggest economy nine months before the country’s next presidential election.

Growth remains fragile after Africa’s top crude oil producer last year emerged from its first recession in 25 years. The…

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S.Africa's Reserve Bank seen keeping rates at 6.50 pct next week

South Africa’s Reserve Bank will keep interest rates unchanged next week as an anticipated quicker rise in consumer prices over the coming months won’t drive inflation above target, a Reuters poll showed Wednesday. 

All 25 economists surveyed in the past week predicted the central bank will hold rates at 6.50 percent at its May 24 meeting, which…

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South African rand falls as rising U.S. bond yields lift dollar

South Africa’s rand was weaker early on Tuesday, hurt by a stronger dollar which benefited from rising U.S. bond yields.

At 0610 GMT, the rand traded at 12.4100 versus the dollar, 0.6 percent lower than its close on Monday.

The dollar index rose more than 0.2 percent against a basket of major currencies.

The rand slipped late on Monday after…

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Zimbabwe public workers reject higher government salary offer

Zimbabwe’s public sector workers have rejected an improved salary offer of 15 percent from President Emmerson Mnangagwa’s government and want wages for the lowest paid employees to more than double, the main public sector union said on Tuesday.

The government agreed last week to raise salaries by 10 percent for the army, police and other civil…

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Zimbabwe bans banks from processing payments for cryptocurrencies

Zimbabwe’s central bank has stopped local banks from trading or processing payments linked to cryptocurrencies like bitcoin, its governor said on Monday, but stopped short of banning local cryptocurrency trading exchanges.

In the southern African nation, those who trade in bitcoin say it offers rare protection as their bank deposits lose value…

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