The rand steadied as South Africa’s currency tracks developments affecting its biggest export partner China, which is ramping up support for the yuan. The rand fluctuated between gains and losses and was little changed at R19.07 per dollar as of 10:30 a.m. in Johannesburg. China’s onshore yuan was also largely steady at 7.28. Rand/dollar exchange … Read More “Rand steadies as China’s yuan sets course for SA’s currency” »
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European shares retreated for a third day as global bonds deepened their slump on concern about higher US interest rates and investors watched for fresh signs of weakness in China. The Stoxx 600 slipped 0.4% at the open, while US equity futures edged higher after Wednesday’s drop on Wall Street. The US 10-year yield rose … Read More “Europe stocks drop, treasuries extend slide on Fed: Markets wrap” »
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South Africa’s rolling blackouts have been blamed by strategists as the single biggest factor weighing on the rand. So, signs that the crisis is easing bode well for the currency. Prospects for gains in the rand in the next year or so are “really firm,” and much of this optimism is down to the outlook … Read More “Rand seen getting a boost from better South African power supply” »
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Russia’s central bank sharply raised interest rates at an emergency meeting called after one of the steepest depreciations in emerging markets cast a pall over the economy. Policymakers lifted their benchmark to 12% from 8.5%, the second straight increase and the sharpest since the immediate aftermath of Russia’s invasion of Ukraine almost 18 months ago. … Read More “Russia hikes rates at emergency meeting after rouble’s crash” »
by Fintechnews Africa 14 August 2023 Football club Paris Saint-Germain and Yassir, the Super-App offering on-demand and payment services in North Africa announced the signing of a global partnership for three seasons with the aim of further developing the Yassir brand on the international stage. The Yassir online marketplace, which offers transport, delivery, and payment … Read More “Paris Saint-Germain and Algerian Super-App Yassir Sign Global Partnership” »
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Banks seeking to sell commercial-property loans are encountering a dried-up market with few options for an easy exit. Lenders including Goldman Sachs Group and JPMorgan Chase & Co have been trying to sell debt backed by offices, hotels and even apartments in recent months, but many are finding that tidying up loan books is no … Read More “Property loans are so unappealing that US banks want to dump them” »
