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Saturday, 16th November 2019
9:35:48pm

Economy

Articles related to economy

South Africa's rand starts week on the front foot

South Africa’s rand strengthened against the dollar on Monday, with momentum reignited by upbeat remarks from the U.S. Federal Reserve chairman and a Chinese economic stimulus package.

At 0734 GMT the rand was 0.34% firmer at 14.7700 per dollar from an overnight close of 14.8200.

Fed Chair Jerome Powell said on Friday in Zurich the central bank…

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South Africa's rand firmer on easing trade fears

South Africa’s rand firmed against the dollar in early trade on Friday on improved risk appetite as trade tensions eased, while stocks were flat.

By 0721 GMT the rand was 0.47% firmer at 14.8150, after an overnight close of 14.8850.

The announcement that top negotiators from the United States and China will meet in early October in Washington…

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Nigeria's economic growth slows for second quarter

Year-on-year growth in Nigeria’s economy slowed to 1.94% in the three months to the end of June, the second quarter in a row of decline as the country struggles to shake off the effects of a recession it escaped two years ago. 

Nigeria’s economy grew by 2.10% in the first quarter compared to the previous year, according to the statistics office on…

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Zim farmers produce record tobacco crop, but farmers left counting their losses

Despite the drought that ravaged Zimbabwe during the 2018/19 agricultural season, the southern African country still managed to produce a record-breaking tobacco output, reaching 257 547 838 kilograms as at August 30, 2019.

This year's output is higher than the previous record of 252.5 million kilograms recorded in the 2017/18 farming season.

It is…

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Egypt's fuel subsidy bill falls to around $5.15 bln in FY 2018-2019: senior official

Egypt’s fuel subsidy bill fell to around 85 bln Egyptian pounds ($5.15 bln) in the 2018-2019 financial year which ended in June, from 120.8 billion Egyptian pounds ($7.31 bln) a year prior, a senior petroleum ministry official told Reuters on Monday.

Egypt raised domestic fuel prices by as much as 50% in June 2018, as part of an IMF-backed econonic…

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