The South African Reserve Bank Governor Lesetja Kganyago announced that the interest rate was reduced to 7% and the prime lending rate was reduced to 10.5%.
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Asian markets extend losses with Wall St as rate hopes dim
Asian markets fell Thursday, with traders tracking losses on Wall Street fuelled by concerns over rising Treasury yields and fading hopes for US interest rate cuts. A second straight day of weak demand in a Treasuries auction forced yields -- a proxy for interest rates -- to extend a recent advance.
Nobel winner Yunus brings 'social business' mantra to Olympics
Since the early days of Paris's bid for the 2024 Olympics, the city has been receiving advice from a prestigious counsel: Nobel peace prize winner and social business guru Mohammed Yunus. Having visited the village built for the 2016 Olympics in Rio de Janeiro -- a high-rise complex outside the city, with poor public transport links -- Yunus knew the pitfalls.
Asia gas expansion threatens green transition: report
Southeast Asia is on track to vastly expand its gas-fired power plant and liquid natural gas import capacity, threatening its green energy transition, a report warned Thursday.
American Airlines shares sink as it lowers demand outlook
Shares of American Airlines dove Wednesday after it lowered its profit outlook, citing weaker demand and a troubled booking system upgrade. American lowered its second-quarter profit margin outlook and now sees earnings per share of between $1.00 to $1.15.
Rich nations met $100 bn climate finance goal two years late: OECD
Wealthy countries met their target of providing $100 billion in annual climate aid to poorer nations for the first time in 2022, two years later than promised, the OECD said Wednesday. More than a decade later this target was finally met for the first time in 2022 with $115.9 billion raised, the Organisation for Economic Co-operation and Development said.
Africa presses for reform of 'unjust' global financial system
There is an urgent need for reforms to the "unjust" global financial system, which penalises African nations with high borrowing rates, leaders said at a major African economic gathering in Kenya this week.
ConocoPhillips to buy Marathon for $22.5 bn in latest big oil deal
US energy giant ConocoPhillips announced Wednesday that it is acquiring competitor Marathon Oil for $22.5 billion in the latest big petroleum merger consummated in spite of rising concerns about climate change.
UK's Royal Mail buyout: Who is Czech billionaire Kretinsky?
A billionaire with interests in football clubs, media outlets, supermarkets and now the potential new owner of Britain's Royal Mail, Czech Daniel Kretinsky retains a stubbornly low profile internationally.
EU parliament offices raided in Russia meddling probe
Investigators on Wednesday raided the home and offices of an EU parliamentary staffer as Belgium probes claims that Russia paid far-right lawmakers -- including Germany's embattled Maximilian Krah -- to spread Kremlin propaganda. Belgium says its own intelligence services have determined that some lawmakers were paid to promote Moscow's propaganda.
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