Kenya's CFC Stanbic Bank posted a 79.5 percent jump in pretax profit for the first quarter from a year ago to 1.46 billion shillings.
The dollar rose against the yen
on Tuesday after a Japanese minister clarified remarks about the
yen's drop, but many awaited the Federal Reserve chief's
testimony before adding to bets on a stronger U.S. currency.
The South Korean won snapped a
3-session fall to gain on Tuesday on short-covering combined
with demand from exporters cautious ahead of Federal Reserve
Chairman Ben Bernanke's congressional testimony.
The won ended the session at 1,110.6 per
dollar, up 0.56 percent on the day from Monday's dom
With the broad S&P 500 Index
gliding once again into uncharted territory and posting
four straight weeks of gains, the talk of Wall Street's rally
inevitably hitting a ceiling is starting to get old.
China shares eked out a
fifth-straight gain on Tuesday, as strength in. . .
At least 91 people,
including 20 children, were feared killed when a. . .
Big wage hikes demanded by the government-allied trade union in South Africa's coal and gold industries helped push the rand to. . .
South Africa's rand fell to a new 4-year low and government bonds were heavily sold on Monday in a market still. . .
Gold climbed off session lows
on Tuesday as Chinese buyers picked up the metal, easing some
pressure on bullion which has been hit. . .
The dollar edged higher, gold
steadied and European shares remained near five-year highs on
Tuesday as investors wait to see if the U.S.. . .
The South African Reserve Bank's monthly leading business cycle indicator fell 1.1 percent in March from February, mainly due to a decrease in the export commodity price index, the bank said. . .
Revenue for the interim period fell 8% to R5.3 billion (R5.7 billion) whilst operating profit decreased by 21% to R583.0 million (R736.1 million). Profit attributable to equity holders shrunk 14% to. . .
A two-day wildcat strike at a Mercedes Benz car plant in South Africa ended on Tuesday but industrial union NUMSA demanded a hefty pay hike for the sector, raising the prospect. . .
The National Union of Metal Workers of South Africa (NUMSA) is demanding a 20 percent wage increase for its members in the automotive sector, the union's treasurer said on Tuesday.. . .
South African financial services firm Alexander Forbes said on Monday it is considering possible deals to sell off stakes in its short-term and life insurance unit, Guardrisk.. . .
Inflation in Egypt is expected to climb to 10.9 percent this year, the highest level since 2010, the International Monetary Fund said on Tuesday, more than it expected in April.. . .
Oil brought riches to Nigeria but also ravaged its economy and fuelled corruption and conflict. Now nearby Ghana has begun production and wants to take the wealth but dodge the oil. . .
Citibank and Barclays are likely to be named the lead advisers for Ghana's plans to issue up to $1 billion of Eurobonds this year, officials involved in the discussion said on. . .
Mauritius central bank Governor Rundheersing Bheenick said on Monday the government had granted him three more years in charge of setting the monetary policy on the Indian Ocean island.. . .
Fitch Ratings on Monday revised up Lesotho's sovereign credit outlook to stable from negative, citing the country's ongoing improvements in public finance management and structural reforms.. . .
Britain's benchmark index edged
off 13-year highs early on Tuesday, led by a selloff in cruise
operator Carnival Corporation.. . .
European shares edged back on
Tuesday from five-year highs, with some traders citing concerns
over a possible end to central bank stimulus measures which have
led a global equity market rally this year.. . .
Darty Plc reported a
fall in like-for-like revenues in the three months ending April
30 as the French-based electrical goods retailer pushed ahead
with its turnaround plan against a weak economic backdrop.. . .
Storage company Big Yellow Group Plc
reported an 8 percent rise in profit despite the
introduction of new taxes, as demand grew for self-storage in
London and southeast England.. . .
British retailer Marks & Spencer
posted its lowest annual profit since 2009 on Tuesday as
a struggling clothing and homewares division dragged on growth
in food sales.. . .
Richemont said Marty
Wikstrom is resigning as chief executive of its fashion and
accessories businesses, the latest in a string of recent
management changes at the world's second biggest luxury group.. . .
Japan's Nikkei share average edged
up to a fresh 5-1/2-year high on Tuesday, reversing earlier
losses, as retail investors scooped up underperforming stocks
such as Sharp Corp and Tokyo Electric Power Co Inc
.. . .
Japanese government bond prices
sagged on Tuesday after an auction of 40-year bonds drew tepid
demand as investors grew suspicious that the Bank of Japan is
tolerating a rise in bond yields as it. . .
China's key seven-day money
rates extended their rise on Tuesday due to tight liquidity
conditions caused by tax payments by companies.
However, gains were capped after the People's Bank of. . .
Grappling with weak demand,
rising costs and heightened competition in their oil business,
trading companies in Asia are cutting staff and seeking new
revenue sources from areas such as drilling for gas and
generating power.. . .
Bwin.party has targeted
cost savings of 70 million euros ($90 million) this year as it
joins other online gambling companies pulling back from markets
where regulations are not clear cut.. . .
London copper recouped early
losses on Tuesday, underpinned by confidence in the U.S.
economy, although gains were kept in check ahead of a slew of
factory data this week that may point to softer. . .
Judging by early
demand for everything from doggie daycare to Ferrari rentals and
fine art, rich Americans are going to make this a strong summer
in one of their favorite playgrounds - the beach. . .
Sprint Nextel Corp said its
Japanese suitor SoftBank Corp granted it a waiver
allowing it to consider a $25.5 billion rival bid by Dish
Network Corp, as pressure mounts on SoftBank to sweeten
its offer. . .
U.S. crude futures eased to about
$96.50 a barrel in early trading in Asia on Tuesday as ample
supplies weighed on prices, despite support from equity markets.. . .
The Taiwan dollar and the South
Korean won led gains among emerging Asian currencies on Tuesday,
as investors covered short positions in regional units before
Federal Reserve Chairman Ben Bernanke's congressional testimony
and on a. . .
Gold fell on Tuesday for the eighth of nine sessions, hurt by a firm dollar and persistent outflows from exchange-traded funds, pointing to more downside pressure on the metal, which has. . .
The dollar fell against the
euro and yen on Monday as traders pared back expectations
Federal Reserve Chairman Ben Bernanke would hint at tapering
U.S. bond purchases this week.. . .
The South Korean won recouped most
early losses on Monday but still ended lower for a third
straight session as the U.S. dollar gained strength from upbeat
The won. . .
The Thai baht hit a near
three-month low against the dollar on Monday as news the economy
shrank in the first quarter spurred expectations of a central
bank rate cut, while the Singapore dollar. . .