Sign up to save your podcasts
Or
Share Africa Business News
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Africa Business News
By Africa Business RadioNews
Africa Business News episodes
- Yuan Hits 7-Month High, But Gains Moderate Ahead Of Powell SpeechThe Chinese yuan has hit a seven-month hThe Chinese yuan has hit a seven-month high against the faltering dollar on Thursday. However, its pace of appreciation slowed following two days of gains.
Investors are growing cautious ahead of Federal Reserve Chairman Jerome Powell's remarks later in the session that could affect future monetary policy trajectory in the United States. Any major tweaks could spell more volatility for the dollar and other major currencies. Thursday's official guidance rate was the strongest since January 23.
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
Support this podcast: https://anchor.fm/newscast-africa/support2 min - China Makes Proposal To U.S. In Concession To Solve Accounting DisputeChina is proposing to let U.S. regulators audit its state-owned enterprises in a concession aimed at solving their long-running accounting dispute. However, the bank says it would insist on redacting some information on national security grounds. A previous trial inspection done jointly by Chinese and U.S. regulators failed to yield an agreement.
---
Support this podcast: https://anchor.fm/newscast-africa/support1 min - S.Korea Central Bank Cuts 2020 GDP Outlook, Open To More Stimulus To Fight Virus FalloutSouth Korea’s central bank has kept interest rates steady on Thursday. The bank, however, sharply downgraded its 2020 growth outlook and kept the door open for more monetary stimulus to support an economy hard hit by the coronavirus pandemic.
The Bank of Korea kept the seven-day repurchase rate at a record low of 0.5%, in an unanimous and widely expected decision, after 75 basis points of rate cuts this year. It said gross domestic product would likely shrink 1.3% in 2020 - the biggest contraction in more than two decades - from a previous forecast for a 0.2% decline.
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
Support this podcast: https://anchor.fm/newscast-africa/support2 min - Asia Shares Pause For Breath, lot Riding On FedAsian shares touched two-year peaks on Thursday in the wake of Wall Street’s record run as cheap cash drove up big-cap tech darlings, although Sino-U.S. tensions caused caution to creep in as the session progressed.
MSCI’s broadest index of Asia-Pacific shares outside Japan had edged up 0.1% after earlier reaching its highest since August 2018.
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
Support this podcast: https://anchor.fm/newscast-africa/support2 min - Rolls-Royce To Sell Assets To Boost Pandemic-Hit FinancesBritain’s Rolls-Royce said it aimed to sell its Spanish unit ITP Aero and other assets to raise at least 2 billion pounds to boost its balance sheet, which has been shattered by a travel slump brought on by the coronavirus pandemic.
Rolls-Royce also said on Thursday that CFO Stephen Daintith had resigned to take up another opportunity. It however adds that Daintith would remain in his role to support an orderly transition as he leads a plan to make 1 billion pounds of cost cuts this year.
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
Support this podcast: https://anchor.fm/newscast-africa/support2 min - Massmart Loss Widens To $65m Due To Covid-19South African retailer, Massmart Holdings Ltd, says its first-half headline loss widened to 1.1 billion rand, as sales at its stores fell due to COVID-19 restrictions. In a statement on Thursday, the company, majority-owned by Walmart and operator of supermarkets and wholesalers, said its headline loss dropped by 36% in the six months to June 28 from a headline loss of 800 million rand in first half of 2019.
---
Support this podcast: https://anchor.fm/newscast-africa/support2 min - SARB Poised To Keep Interest Rates On Hold As Inflation QuickensThe South African Reserve Bank is expected to keep interest rates on hold in the fourth quarter, despite an uptick in fuel prices and municipal tariffs pushing inflation to a four-month high in July.
This comes after Statistics South Africa, on Wednesday, said inflation quickened to 3.2 percent year on year, from 2.2 percent in June as lockdown restrictions continued to ease. In a statement, StatsSA said fuel was still 6.2 percent cheaper in July than it was in the same month last year, despite these increases.
---
Support this podcast: https://anchor.fm/newscast-africa/support1 min - South African Rand Dips Before Producer Price DataSouth Africa’s rand was slightly weaker early on Thursday, ahead of the release of the producer price index which will give more clues about inflation dynamics in Africa’s most industrialised economy.
At 0632 GMT, the rand traded at 16.9250 versus the dollar, 0.3% weaker than its previous close.
Government bonds were also a touch weaker early on Thursday, with the yield on the 2030 bond rising 3 basis points to 9.325%
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
Support this podcast: https://anchor.fm/newscast-africa/support2 min - CBN, Banks Plan Stimulus for Airlines, MediaThe Central Bank of Nigeria and the Bankers’ Committee would extend special stimulus package to Nigerian-registered airlines and the media industry.
The Bankers’ Committee said the gesture will mitigate the impact of Coronavirus on the sectors and to save jobs.
The Central Bank of Nigeria and the Bankers’ Committee would extend special stimulus package to Nigerian-registered airlines and the media industry.
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
Support this podcast: https://anchor.fm/newscast-africa/support2 min - Nigerian Refineries Idle For 12 Months, Incur N142bn ExpensesLatest data from the Nigerian National Petroleum Corporation has shown Nigeria’s refineries did not refine a barrel of crude oil in the 12 months to June this year but incurred a combined operating expense of 142.07 billion naira.
The NNPC attributed the declining operational performance of the refineries to ongoing revamp aimed at further enhancing their capacity utilisation once completed. According to the data, the Kaduna refinery incurred an operating expense of 60.20 billion naira from July 2019 to June 2020.
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
Support this podcast: https://anchor.fm/newscast-africa/support2 min
About Africa Business News
From the publisher's feed
Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.