Finance

According to a directive issued by the Bank of Angola on July 2 and published on Thursday, banks can now use the Chinese yuan alongside the U.S. dollar, euro and South African rand to meet foreign-currency reserve requirements. Mandatory reserves […]

China and Namibia signed a series of agreements on Friday to strengthen cooperation in infrastructure, energy, mining and agriculture, as President Netumbo Nandi-Ndaitwah sought investment to support economic diversification and job creation in the southern African nation. The agreements were signed during […]

A quarter of a century since he spotted the growing clout of emerging-market countries, the economist who coined the BRIC acronym said those countries could eventually build alternatives to the dollar, an idea which had seemed a “fantasy” until only very recently. […]

About 10 million barrels of Saudi crude have cleared the Strait of Hormuz in recent days, as supertankers continue to load oil from the Saudi port of Ras Tanura in the Persian Gulf and Saudi Arabia is ramping up oil […]

China’s central bank launched overnight reverse repo operations on Monday (Jun 29), a move markets interpreted as deepening its control over liquidity conditions and aligning its policy framework more closely with global peers. The People’s Bank of China (PBOC) said […]

Central banks around the world are planning to reduce their holdings of U.S. dollars over the coming decade for the first time, reflecting growing concerns over geopolitical risks and policy uncertainty surrounding the world’s dominant reserve currency, according to a […]

The People’s Bank of China (PBoC) has jointly authorised Standard Bank and the Industrial and Commercial Bank of China (ICBC) to operate the Renminbi (RMB) Clearing Bank of Africa, giving businesses and financial institutions across the continent direct access to […]

In the latest sign of recovering oil flows in the Persian Gulf, Qatar inked a deal with a Taiwanese refiner for the sale of a cargo of Al-Shaheen crude. The deal follows the sale of Marine and Land Qatari crude […]

Every quarter, the world’s largest institutional investors look at their portfolios, notice the ratios are off, and start moving enormous piles of money around to get back on target. This time, JPMorgan estimates that process will involve roughly $165 billion […]

Morgan Stanley and Goldman Sachs cut their forecast for oil prices towards the end of the year and 2027 following developments in the peace negotiations between the United States and Iran earlier this week. Morgan Stanley now sees Brent crude averaging […]