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Wednesday, 8th April 2020
12:14:55pm

Economy

Articles related to economy

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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South Africa's rand slightly weaker ahead of trade data

The South African rand retreated early on Friday, giving back some of the previous day’s gains ahead of a data-packed session as sentiment toward emerging markets assets continued to lean toward negative outcomes.

At 0630 GMT the rand was 0.1% weaker at 15.3400 per dollar, having touched a session-best 15.2725 on Thursday with demand spurred by…

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Mozambique president says "encouraging progress" in IMF talks

Mozambique’s talks with the International Monetary Fund (IMF) are making “encouraging progress,” as the country seeks to restore access to international financing, President Filipe Nyusi said on Wednesday. 

Mozambique has been battling to recover from a debt crisis after admitting in 2016 to $1.4 billion of previously undisclosed lending,…

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South Africa's rand slides as U.S.-China trade spat weighs

South Africa’s rand weakened early on Monday, slumping to its weakest in almost a week as a spike in trade tensions between China and the United States soured global risk demand.

At 0615 GMT the rand was 0.2% weaker at 15.3300 per dollar compared to a close at 15.3000 on Friday in New York, tracking its Asian counterparts lower as last week’s…

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South Africa's rand falls as investors weigh local, global risks

South Africa’s rand weakened on Monday as traders and investors continued to weigh heightened global growth risks against local uncertainty, while equities rose in line with global stock markets.

At 1555 GMT the rand was 0.82% weaker at 15.4150 per dollar, tracking weakness in most emerging markets currencies as trade worries linger.

The rand has…

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