Finance

Gold edged higher on Tuesday as oil prices and the US dollar retreated, while expectations of a Federal Reserve (Fed) rate hike this month remained subdued ahead of key US inflation data due this week. Spot gold rose 0.4% to […]

Between 2015 and 2024, Côte d’Ivoire expanded its operational gold sites from four to thirteen, driving national output up by over 150% from 23.54 tonnes to more than 59 tonnes. Industry projections indicate that the launch of Endeavour Mining’s Lafigué […]

Singapore sovereign wealth fund GIC plans to deploy an additional $30 billion into hedge funds and is spreading its bets across artificial intelligence, top executives said, while reporting its weakest long-run returns since 2020. Group Chief Investment Officer Bryan Yeo […]

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 […]