The Arab Monetary Fund, a regional lender, has agreed to provide loans of $211 million to Morocco and $98 million to Tunisia to help the North African countries deal with the coronavirus crisis, the United Arab Emirates' state news agency WAM reported on Friday. Both Morocco and Tunisia rely heavily on the hard-hit tourism sector as a source hard currency.
Metair Investments Ltd: * JSE: MTA - OPERATIONAL UPDATE. * METAIR INVESTMENTS LTD - METAIR SECURED KEY CONTRACTS TO SUPPORT FORD'S INVESTMENT INTO SOUTH AFRICAN AUTOMOTIVE INDUSTRY. * METAIR INVESTMENTS LTD - BOARD'S APPROVAL OF A R900 MILLION CAPITAL INVESTMENTWILL CREATE APPROXIMATELY 3 300 NEW EMPLOYMENT OPPORTUNITIES.
Ugandan, Kenyan, Zambian and Tanzanian currencies are likely to hold steady in the coming week. UGANDA. The Ugandan shilling is expected to be little moved versus the U.S. dollar as traders await clues on policy announcements that may be contained in the 2020/2021 budget due to be read next week.
Oil prices rose Tuesday, continuing a recent rebound with analysts anticipating that crude producers led by Saudi Arabia and Russia will extend supply curbs in response to the energy industry's crisis. U.S. crude futures for July delivery surged 3.9% to $36.81 a barrel on the New York Mercantile Exchange. Front- month futures have risen to their highest level since early March after dropping below $0 for the first time ever on April 20 due to a lack of available storage for excess...
Oil prices rose Tuesday, continuing a recent rebound with analysts anticipating that crude producers led by Saudi Arabia and Russia will extend supply curbs in response to the energy industry's crisis. U.S. crude futures for July delivery rose 1.1% to $35.82 a barrel on the New York Mercantile Exchange. Front-month futures have risen to their highest level since early March after dropping below $0 for the first time ever on April 20 due to a lack of available storage for excess...
* SAA entered bankruptcy protection in December. * Administrators to publish rescue plan on June 8. * Proposal includes 4.6 bln rand of new bailouts. * Government has yet to discuss proposed plan. By Alexander Winning.
* Mines and factories can run at full capacity. * Country has recorded 30,000 cases and rising. * South Africa lockdown has deepened recession. * School opening delayed while teachers get PPE. By Tim Cocks.
* Mines and factories can run at full capacity. * Country has recorded 30,000 cases and rising. * South Africa lockdown has deepened recession. * School opening delayed while teachers get PPE. By Tim Cocks.
RIYADH-- Saudi Arabia's foreign reserves dropped sharply in April as the kingdom kept its peg with the U.S. dollar steady while transferring a chunk to its sovereign-wealth fund to bet on stocks beaten down by the coronavirus pandemic. The kingdom's reserves in recent years have hovered around the $500 billion level, held by its central bank in mostly low-risk assets such as U.S. The implied stability allowed officials to maintain the Saudi riyal's peg to the dollar and...
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