Bloomberg It’s been another miserable week for South Africa’s rand, but policy support may be coming closer, if money-market bets are anything to go by. The currency slumped more than 2 percent as the South African Reserve Bank left its benchmark rate unchanged at 6.5 percent, a level Governor Lesetja Kganyago described as “accommodative,” while warning that inflation pressures are ...

Bloomberg Ghana took back control of Agricultural Development Bank Ltd. (ADB) after the regulator annulled deals for more than half of the lender’s shares following its initial public offering in 2016.Belstar and Starmount are affiliates and entered into deals with SIC and Ecobank Capital Ltd., the asset management unit of Ecobank Ghana Ltd., to purchase ADB’s shares without the regulator’s knowledge, ...

Bloomberg Labour strife is starting to weigh on Ryanair Holdings Plc, and the conflict looks set to deepen. The discount airline posted a 20 percent drop in first-quarter profit on Monday, and warned that walkouts by trade unions, along with regional air traffic-control strikes, are making customers wary of booking trips. While the carrier was able to accommodate passengers whose ...

Bloomberg Tesco Plc is readying a new chain of discount stores in the company’s most direct offensive on Aldi and Lidl to date. The UK’s largest retailer is recruiting for staff to work in the new store format at sites in Immingham in northeast England and in Chatteris, about 80 miles north of London, according to postings on the LinkedIn ...

Bloomberg Papa John’s International Inc.’s board approved a so-called poison-pill plan to fend off any attempt by founder John Schnatter to gain a controlling interest as the pizza chain seeks distance from its controversial namesake. Schnatter, 56, resigned as chairman earlier this month after reports surfaced that he used a racial slur and graphic depictions of violence against minorities during ...

Bloomberg The world’s largest passenger jet is finally getting a second life. On August 1 a 10-year-old, Airbus SE A380 formerly flown by Singapore Airlines will enter service with a new carrier, said Paulo Mirpuri, chief executive officer of aircraft lessor Hi Fly. He said he has two candidates interested in flying the refurbished, 471-seat, jumbo jet: a large European ...

HODEIDAH / WAM The Director of the UN Office for the Coordination of Humanitarian Affairs (OCHA) in Aden, has praised the UAE’s humanitarian and relief efforts through the Emirates Red Crescent (ERC) in Hodeidah Governorate and the Red Sea Coast of Yemen. This came during a meeting with Saeed Al Kaabi, UAE Humanitarian Operations Director for Yemen, where the UN ...

Bloomberg Two United Arab Emirates airlines have held talks with South African Airways about a partnership that it says is needed to revive its business, City Press reported, citing the UAE ambassador to South Africa. Talks between Emirates Airline and SAA, which have been going on for some months, are being facilitated by the UAE’s embassy in Pretoria, the Johannesburg-based ...

Bloomberg It may not be obvious amid the screaming headlines — about currency manipulation, Fed jawboning, Russia summit, yuan weakening, etc. — but US stocks continue their low-volatility, bull-market grind higher. The 2,800 level on the S&P 500 has been bested three sessions in a row on a closing basis — and is on pace for a fourth. That level ...

Bloomberg Egypt is considering adding companies to the list of state-run firms in which investors can secure majority stakes as it readies to launch a programme aimed at reviving the battered public sector. The government is planning to start with the sale of Heliopolis Housing and Eastern Tobacco in October, Public Enterprise Minister Hisham Tawfik said. So far, however, a ...