HANOI, April 20 (Reuters) &#8211; Copper prices rose back towards their highest in a decade on Tuesday, as a weaker dollar made greenback-denominated metals cheaper and more attractive to holders of other currencies.



Three-month copper on the London Metal Exchange rose as much as 1.1% to $9,483 a tonne, flirting with the $9,617-a-tonne level hit in February which was its highest since August 2011. By 0716 GMT it was at $9,426.50, up 0.5%.



The most-traded June copper contract on the Shanghai Futures Exchange rose as high as 69,750 yuan ($10,737) a tonne, not far from its February peak of 71,080 yuan a tonne, which was its highest since March 2011. It closed up 1.1% at 69,450 yuan a tonne.



The dollar wallowed near a six-week low against its peers as U.S. bond yields hovered below a 14-month peak touched last month.



&#8220;Copper is riding the wave of the U.S. dollar debasement in value,&#8221; said a Singapore-based metals trader, but noted that &#8220;physical participants are not biting (at current prices)&#8221;.



&#8220;Watch the inventories. Already there&#8217;s lending guidance on copper,&#8221; said the trader, referring to the dominant warrant holders in LME copper short-term contracts. 



One participant currently holds 50-80% of LME copper warrants.



FUNDAMENTALS



<ul class="wp-block-list"><li>LME aluminium rose 0.3% to $2,336.50 a tonne, zinc advanced 0.2% to $2,852 a tonne and tin fell 0.4% to $26,600 a tonne.</li><li>ShFE aluminium increased 0.1% to 18,095 yuan a tonne, nickel dropped 0.8% to 120,960 yuan a tonne and lead increased 1.6% to 15,300 yuan a tonne.</li><li>The global nickel market surplus expanded to 6,200 tonnes in February from a downwardly revised 3,500 tonnes in the previous month, International Nickel Study Group data showed.</li><li>China&#8217;s primary aluminium imports jumped over 15 times year-on-year in March on robust demand and a favourable price spread between overseas metal and Shanghai prices.</li><li>Russian metals producer Nornickel has lifted its 2021 production forecast slightly as one of its mines is resuming work ahead of schedule after flooding.</li></ul>



($1 = 6.4963 yuan) 



(Reporting by Mai Nguyen; Editing by Shounak Dasgupta, Shailesh Kuber and Jan Harvey)

ShawnHempel_AdobeStock_copperbars_012621

Copper rises back towards 10-year high on weaker dollar

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030477600-612x612-1.jpg" alt="" class="wp-image-402010" width="699" height="466" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030477600-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030477600-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 699px) 100vw, 699px" /><figcaption>Photo: via Getty Images</figcaption></figure>



Since 1994, manufacturing has shrunk as a proportion of GDP from 21.5% to 13.3%. In part, this deindustrialisation stems from a rationalisation of the Apartheid economy, which was inefficiently producing goods behind sanctions barriers. The economy adjusted in favour of services upon our readmission into the international trading system, which improved our overall competitiveness and drove the economic growth we saw in the decade and a half up to the 2008 financial crisis.



However, our manufacturing sector has struggled to find its feet. The first decade of democracy represented a readjustment phase, but it has still been losing traction since. For the last decade it has faced escalating costs, particularly energy which has also been highly unreliable, difficult labour relations, and constraints on access to ports and other infrastructure.



While the rise of China and the rest of the east Asian region as a global manufacturing hub has fundamentally shifted the global economy, our manufacturing sector remains an important part of our economy with the potential to provide jobs and tax revenue. We should aspire for it to be globally competitive, selling sophisticated goods with high value added in a global marketplace. Yet despite several industrial policies that aim to boost manufacturing, the trend continues against us.



We have had some successes, like the motor industry development programmes, but these are piecemeal and do little to turn the general trend. The latest figures earlier this month showed manufacturing volumes were 2.1% lower in February than a year earlier. Of course, it has not been a normal time and one datapoint does not amount to a trend, but it is hard not to conclude that Covid has dealt yet another long-term blow to the sector.



As we’ve argued many times, for the economy to grow we need a conducive environment in which to do business. That is particularly true for manufacturing. We need stable energy supply at as low a cost as possible. We need rail services that efficiently move goods around. We need ports that can move volumes of manufactured goods to international markets. We need skilled workers, both by allowing skilled immigration and through more effective education and training locally. We need good communications and other services to make it cheap and easy to run manufacturing businesses



Unfortunately, too many of the conversations that I find myself in are about planned interventions. Masterplans and similar sector-specific interventions have their place. But they are a waste of time if the broader business environment is moving against manufacturing. Plus, plans can never achieve as much as thousands of companies all seeking opportunities driven by their own incentives. Give them an efficient and effective environment and you will get growth without any further interventions. National plans then become about how to coordinate the economy to hoist more sails in a wind that is blowing in the right direction. Otherwise, we are merely creating boats forever bobbing in the doldrums.



One of the planned interventions we have been hearing more about lately is localisation. There are, I believe, certainly opportunities around localisation, but we need to be careful. Forcing supply chains to absorb local goods that are expensive or of low quality merely damages the competitiveness of our finished goods, leaving our overall manufacturing weakened. BLSA, together with Business Unity South Africa, has commissioned research to delve into these issues and identify ways in which localisation can be appropriately harnessed to support industrial development. There are positive ways, but this will not be a panacea that makes up for a tough environment.



One thing that does help the environment is infrastructure. That is why BLSA has <a href="https://blsa.us20.list-manage.com/track/click?u=7a848abcd6674ee92e309c8ef&amp;id=9f6bb2d303&amp;e=85bc983273" target="_blank" rel="noreferrer noopener">published extensive research</a> on ways to stimulate investment in infrastructure. By improving transport and communications networks, as well as energy stability, we are directly improving that macro-environment. I am pleased that government is committed to resolving the challenges to infrastructure investment. We have had several positive engagements with public sector counterparts on this front and sensible progress is being made.



We have world-class manufacturers and there is loads of potential if we can get the basics right. Let’s spend more of our time focused on doing that.



This is aweekly newsletter from BLSA CEO Busi Mavuso.



BLSA is a business organisation that believes in South Africa’s future and shares the values set out in the Constitution. In 2017, BLSA signed a contract with South Africa, committing business to playing its part in creating a South Africa of increasing prosperity for all by harnessing the resources and capabilities of business in partnership with government and civil society to deliver economic growth, transformation and inclusion.

istockphoto-1030477600-612×612-1

Building Conducive Business Environment Key to Reviving Manufacturing

April 19 (Reuters) &#8211; Gold edged higher on Monday, hovering near a seven-week peak hit in the previous session, as a weaker dollar and lower U.S. Treasury yields supported prices. 



Spot gold was up 0.2% at $1,778.91 per ounce by 0640 GMT, after hitting its highest since Feb.25 at $1,783.55 on Friday. 



U.S. gold futures were steady at $1,780.10 per ounce. &#8220;At the moment, the combination of a weaker U.S. dollar and easing interest rates is supportive for gold, despite better economic outlook,&#8221; said Michael McCarthy, chief market strategist at CMC Markets. 



&#8220;We&#8217;ve got the momentum. But of course we are at a very important point having just got through that $1,765 level. While we hold above the $1,765 level, the outlook for gold is positive in the short term.&#8221; 



The dollar index was languishing near a one-month low against its rivals, making gold less expensive for other currency holders. 



Benchmark U.S. 10-year Treasury yields edged lower towards multi-week lows touched last week. Lower bond yields reduce the opportunity cost of holding non-interest bearing gold. 



Sentiment in equities remained upbeat as Asian shares hovered near 1-1/2-week highs on expectations that monetary policy will remain accommodative the world over. 



U.S. Federal Reserve has reiterated its stance to keep monetary policy accommodative until the crisis is over, while Fed officials have said that any spike in inflation is likely to be temporary. 



&#8220;Inflation expectations are holding above 2.5% amid soaring commodities prices. This along with Fed&#8217;s dovish stance on the monetary policy, is keeping the backdrop supportive for bullion,&#8221; ANZ analysts said in a note. 



Some investors view gold as a hedge against higher inflation that could follow stimulus measures. 



Elsewhere, silver fell 0.4% to $25.85 per ounce after hitting a near one-month high in the last session. Palladium rose 0.1% to $2,781.29, while platinum gained 0.8% to $1,211.98. 



(Reporting by Brijesh Patel in Bengaluru; Editing by Uttaresh.V and Shailesh Kuber)

Gold_bar_3

Gold firms as softer U.S. dollar, yields lift appeal

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/180412_Urbanization_Sub-Saharan_Africa-820x461.jpg" alt="" class="wp-image-401899" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/180412_Urbanization_Sub-Saharan_Africa-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/180412_Urbanization_Sub-Saharan_Africa-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/180412_Urbanization_Sub-Saharan_Africa-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/180412_Urbanization_Sub-Saharan_Africa-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/180412_Urbanization_Sub-Saharan_Africa-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption> (Photo: PIUS UTOMI EKPEI/AFP/Getty Images)</figcaption></figure>



JOHANNESBURG, April 16 (Reuters) &#8211; Sub-Saharan Africa is expected to rebound this year as the continent&#8217;s economic drivers pick up momentum after activity was halted by the coronavirus pandemic, despite a slower pace of vaccinations compared with the rich world, a Reuters poll found.



Medians in a Reuters poll taken in the past week showed sub-Saharan Africa was expected to recover in 2021, growing 3.3% after contracting nearly 2% last year.



The International Monetary Fund forecast growth for the region at 3.4% this year from an estimated contraction of 1.9%.



Rafiq Raji, associate with the Africa programme at the Centre for Strategic and International Studies, expects a recovery as economies ease restrictions and activity in crucial sectors such agriculture, manufacturing, and tourism picks up.



However, &#8220;slow vaccine rollouts and rising COVID-19 cases are expected to weigh on the recovery&#8221;, said Raji.



The World Health Organization&#8217;s Africa office said on April 8 that Africa had given fewer than 2% of vaccinations administered globally.



Growth was expected this year from all the major economies with Angola at 1.6%, Ghana at 4.9%, Kenya at 5.1%, 2.0% for Nigeria, South Africa at 3.7% and 2.0% for Zambia.



South Africa, the continent&#8217;s most industrialised economy, together with Angola and Nigeria contribute around 50% to sub-Saharan Africa&#8217;s economic engine. Much healthier commodity prices are likely to buoy growth there, economists said.



Still, economists warned some growth rates were calculated from a very low base and might not be sustainable in the following two years, particularly in South Africa where growth is expected to slow to 2.1% and maintain that pace.



Thanks to a diversified continent, growth for the sub-Saharan Africa region (SSA) is likely to stick to 3.3% percent next year and grow 4.1% the following year.



&#8220;SSA inflation expectations are expected to remain high in 2021, owing to increased spending, higher commodity prices and country-specific factors. Still, the average SSA inflation rate is expected to moderate to about 10% in 2021, from about 11% in 2020,&#8221; said Raji.



Inflation in South Africa is likely to moderate, seen just below the midpoint of the central bank&#8217;s 3%-6% comfort level this year &#8211; and the following two years &#8211; despite risks skewed more to the upside over the coming year.



&#8220;Most of the upside risks to the inflation outlook in South Africa stem from exogenous forces &#8211; in particular fuel prices,&#8221; said Jeffrey Schultz, economist at BNP Paribas.



The South African rand has been resilient in past months, helping to keep interest rates stable.



Economists expected security challenges in Nigeria &#8212; Africa&#8217;s biggest economy &#8212; to likely continue to make food expensive, owing to slowed agricultural activity and logistical issues.



Hard currency shortages and monetary financing also pose significant risks to the Nigerian inflation outlook. (For other stories from the Reuters global economic poll )



(Reporting by Vuyani Ndaba; Polling by Manjul Paul; Editing by Alison Williams)

TOPSHOT-NIGERIA-ECONOMY-PLANNING-LAGOS

Sub-Saharan Africa’s economy to rebound this year as activity picks up

ABUJA, April 16 (Reuters) &#8211; Shares of the Nigerian Exchange Group fell to 22.03 naira on the NASD over-the-counter market on Friday, following its debut earlier this week as long-standing investors sought to create liquidity.



The shares began trading on Wednesday at 25 naira, valuing the company at 47.5 billion naira ($125 million), NASD OTC exchange data showed.



The group had not sought the NASD listing, the exchange said. However, investors can trade their shares before the company&#8217;s planned listing on its own exchange, it added.



&#8220;NGX was admitted to trading via the security admission route … at the instance of an investor,&#8221; Chinwendu Ekeh, NASD&#8217;s head of market operation, told Reuters.



Investors admitted around 1.9 billion shares for trade on the OTC market, the OTC market data showed.



The securities regulator, Nigerian Securities and Exchange Commission, confirmed the admission.



Ekeh said NASD would delist the security should the exchange seek its own listing on a different exchange.



Other exchanges in Africa such as those in Johanesburg and Nairobi are listed with their shares publicly tradeable.



The Nigerian Stock Exchange began changing its ownership structure from a mutual company of stockbrokers in 2017, adding new shareholders in a process known as &#8220;demutualisation&#8221;.



It then re-registered as a profit-making entity, owned by shareholders, called the Nigerian Exchange Group Plc, after being a not-for-profit entity.



The exchange, the second biggest in sub-Saharan Africa and one of the main entry points to invest on the continent, has around 200 listed companies, all included in its benchmark share index.



The group &#8211; made up of Nigerian Exchange, NGX Regulation and NGX Real Estate &#8211; received approval for the listing last month. It has said stockbrokers will hold 78% of the shares and that it will not be raising new cash from the listing.



Nigerian stocks are down 4.2% this year after rising 50% in 2020 as the world&#8217;s best performing market.



($1 = 381.00 naira) 



(Additional reporting by Camillus Eboh; editing by Jason Neely, Kirsten Donovan)

Trading Board Is Showing A Crash In Stok Exchange Market

Nigerian Exchange dips after OTC market debut

SINGAPORE, April 16 (Reuters) &#8211; Oil prices extended gains on Friday and were on course for a weekly gain of about 7% with an improved oil demand outlook and strong economic recoveries in China and the United States offsetting concerns about spikes in COVID-19 infections.



Brent crude futures rose 30 cents, or 0.5%, to $67.24 a barrel at 0551 GMT, following a 36 cent rise on Thursday.



U.S. West Texas Intermediate (WTI) crude futures were 28 cents, or 0.4%, higher to $63.74 a barrel, after climbing 31 cents on Thursday.



China&#8217;s 2021 net crude oil imports are forecast to grow 3.4% this year versus 2020 to about 11.2 million barrels per day, a unit of top oil and gas group China National Petroleum Company said.



China reported a record 18.3% jump in economic growth in the first quarter from a coronavirus-induced slump earlier last year, though the pace of expansion is expected to moderate later in the year.



Strong economic recoveries around the world and supply curbs by OPEC and its allies, together called OPEC+, as well as a cautious response to higher prices by U.S. oil producers are supporting the market, said Westpac senior economist Justin Smirk.



&#8220;We still think there&#8217;s a clear risk prices could rise up to $70 a barrel before we see a more meaningful pull back,&#8221; Smirk said.



He said the longer prices stay elevated, the more supply is likely to return to the market, and the risks of COVID-19 cases spiking in places like India and Europe could eventually drive prices down.



Taking into account worsening coronavirus developments in some countries, &#8220;crude overshot to the upside this week and a pullback is now due,&#8221; said Vandana Hari, energy analyst at Vanda Insights.



&#8220;India and major economies in Europe need to be reckoned with to complete the oil demand picture,&#8221; said Hari.



India breached 200,000 daily infections for the first time on Thursday.



For the moment, a strong jump in U.S. retail sales, a drop in unemployment claims and signs of more cars on the road in the world&#8217;s biggest economy buoyed the market.



&#8220;The reopening of the (U.S.) economy has already seen traffic levels increase in various states across the nation,&#8221; ANZ analysts said in a note, adding that India and China are also showing &#8220;high levels of congestion&#8221;.



Traders are looking ahead to a summer pick-up in traffic typical in the United States in June through August.



&#8220;With miles driven on the U.S. highways up for the first time since the pandemic outbreak, it means we are well on the way to a bountiful U.S. summer driving season that could come close to matching the summer of 2019,&#8221; Axi chief global market strategist Stephen Innes said in a note. 



(Reporting by Sonali Paul in Melbourne and Roslan Khasawneh in Singapore Editing by Shri Navaratnam, Michael Perry and Kim Coghill)

Silhouette of oil pump jack on rig

Oil climbs to four-week high on strong China data, demand revival

TOKYO, April 16 (Reuters) &#8211; Global stocks stood near record highs on Friday after strong U.S. and Chinese economic data cemented expectations of a solid global recovery from the coronavirus-induced slump.



European shares are expected to inch higher, with Euro Stoxx futures up 0.1% and Britain&#8217;s FTSE futures slightly higher.



MSCI&#8217;s broadest index of Asia-Pacific shares outside Japan was last up 0.25%, with Shanghai shares adding 0.6%. Japan&#8217;s Nikkei ticked up 0.1%.



MSCI&#8217;s broadest gauge of world stocks ticked up 0.05% by late Asian trade, staying just below Thursday&#8217;s record peak.



&#8220;Markets look ahead to economic normalisation as vaccines will go around. Stock prices are likely to rise gradually while looking at upcoming earnings,&#8221; said Tomo Kinoshita, global market strategist at Invesco Asset Management in Tokyo.



Markets in Asia were largely steady after China reported record 18.3% growth in the first quarter, though the reading slightly undershot expectations, while retail sales bounced strongly last month.



The data did little to change the view that its brisk expansion is expected to moderate later this year as the government turns its attention to reining in financial risks in overheating parts of the economy.



&#8220;Regulators might make further efforts to cool down the property market and control domestic leverage. Fiscal discipline might also be strengthened, leading to deceleration in local government financing and infrastructure investment,&#8221; said Chaoping Zhu, global market strategist at J.P. Morgan Asset Management in Shanghai.



Data from the U.S. overnight was also upbeat, with retail sales rebounding 9.8% in March, pushing the level of sales 17.1% above its pre-pandemic level to a record high.



The brightening economic prospects were underscored by other data, including first-time claims for unemployment benefits tumbling last week to the lowest level since March 2020.



&#8220;The U.S. recovery looks really strong. And now that restaurants and hotels, both of which are labour intensive, are reopening, we could see sharp gains in payrolls in coming month,&#8221; said Koichi Fujishiro, senior economist at Dai-ichi Life Research.



Despite strong data, U.S. bond yields dropped, in part driven by Japanese buying, as they have began a new financial year this month.



The 10-year U.S. Treasuries yield dropped to 1.529%, a five-week low, on Thursday and last stood at 1.578% , off its 14-month high of 1.776% set at the end of March.



&#8220;The market has already fully priced in an U.S. economic recovery in the near term. And if the Federal Reserve will keep interest rates on hold for the next two to three years, no doubt the carry of U.S. bonds would be very attractive compared with Japanese or euro zone bonds,&#8221; said Chotaro Morita, chief fixed income strategist at SMBC Nikko Securities.



The fall in long-term bond yields benefited stocks, and particularly tech shares, given the idea that their historically expensive valuations can be justified because investors would have no choice but to buy shares to make up for low returns from bonds.



On Wall Street, the S&amp;P 500 advanced 1.11% while the tech-heavy Nasdaq Composite added 1.31%, nearing its record peak set in February.



In the currency market, lower U.S. yields were a drag on the U.S. dollar.



The euro stood at $1.1951, having hit a six-week high of $1.19935 overnight while the U.S. currency slipped to a three-week low of 108.61 yen and last traded at 108.89.



Gold also hit a seven-week high of $1,769 per ounce and last stood at $1,765.50.



Oil prices hit one-month highs on higher demand forecasts from the International Energy Agency (IEA) and OPEC, in addition to positive U.S. and Chinese data.



Brent futures gained 0.6% at $67.37 per barrel, while U.S. crude rose 0.55% to 63.81 per barrel, both on course for their first substantial weekly gains in six.



(Editing by Gerry Doyle, Shri Navaratnam and Kim Coghill)

Stock market report. 3d illustration

GLOBAL MARKETS-World stocks near record highs as China, U.S. data back global recovery hopes

TOKYO, April 15 (Reuters) &#8211; Oil prices were lower on Thursday though holding near one-month highs after futures jumped in the previous as the International Energy Agency (IEA) and others upgraded forecasts for oil demand as major economies recover from the pandemic.



Brent crude was down by 21 cents, or 0.3%, at $66.37 a barrel by 0129 GMT, after gaining 4.6% on Wednesday and closing at the highest since March 17.



U.S. West Texas Intermediate futures dropped 25 cents, or 0.4%, to $62.9 a barrel, having risen 4.9% in the previous session.



U.S. crude inventories were down by 5.9 million barrels last week, the Energy Information Administration (EIA) said on Wednesday, more than double analysts&#8217; expectations for a 2.9 million-barrel decline. East Coast crude stocks hit a record low.



&#8220;We see robust stock draws even after factoring in bearish risks as refinery runs are set to rise sharply in the coming months,&#8221; Citi Research analysts said in a note.



Gasoline supplied to the market last week, an indicator of U.S. consumption of the fuel, increased to 8.9 million barrels per day (bpd), the highest since August, the EIA report said.



Global oil demand and supply are set to be rebalanced in the second half of this year after the evaporation of demand in 2020 as the COVID-19 pandemic raged, according to the IEA&#8217;s monthly report.



Producers may then need to pump a further 2 million bpd to meet the demand.



The Organization of the Petroleum Exporting Countries (OPEC), which has been withholding supply in tandem with other producers including Russia, this week raised its forecast for global oil demand this year.



OPEC expects demand to rise by 70,000 bpd from last month&#8217;s forecast and global demand is likely to rise by 5.95 million bpd in 2021, it said. 



(Reporting by Aaron Sheldrick; Editing by Michael Perry)

Oil holds near one-month highs as demand forecasts raised

JOHANNESBURG, April 12 (Reuters) &#8211; South Africa has extended by a further three months the deadline of a loan scheme that is central to efforts to counter the economic impact of the COVID-19 pandemic, the Treasury said on Monday.



President Cyril Ramaphosa announced the bank loan scheme for businesses, worth up to 200 billion rand ($13.72 billion) in total and partly guaranteed by the government, in April 2020.



The availability of the loans in the scheme has been extended to July 11, from an earlier deadline of April 11, the Treasury said in a statement issued jointly with the South African Reserve Bank and the country&#8217;s banking association.



The extension is to enable an orderly winding down of the scheme and to assess the applications already received, the statement said.



The scheme&#8217;s main aim was to encourage banks to lend more, and on more favourable terms, to businesses affected by the coronavirus crisis, which last year pushed South Africa&#8217;s economy into its largest annual contraction in a century.



But the uptake has been low, with just 18.16 billion paid out as of March 27.



&#8220;The (scheme) has not been as effective as originally envisaged, as many distressed companies have been reluctant to assume more liabilities with little certainty of the length and severity of the economic impact of the COVID-19 pandemic,&#8221; the statement said.



The Banking Association South Africa previously cited flawed design features, risk aversion by businesses, and a preference for other relief measure as contributing to the low uptake.



($1 = 14.5807 rand) (Reporting by Mfuneko Toyana; Editing by Olivia Kumwenda-Mtambo and Gareth Jones)

101416618-rand

South Africa extends COVID-19 loan scheme deadline by three months

April 12 (Reuters) &#8211; Oil slipped on Monday in thin trading as rising COVID-19 case numbers in some parts of the world kept a lid on prices, even as the Federal Reserve signalled the U.S. economy may soon rebound as vaccinations accelerate.



Brent was up 28 cents, or 0.4%, at $62.67 a barrel by 0635 GMT, having risen to as high as $63.30 earlier. U.S. crude was down 23 cents, or 04%, to $59.09 a barrel, after rising as much as 46 cents earlier.



Prices have changed little since a period of volatile trading ended last Monday.



&#8220;At the moment, the market lacks direction,&#8221; the Schork Report, founded by Stephen Schork, said in a note. &#8220;We are waiting for a breakout of the current range.&#8221;



While the United States has fully vaccinated more than 70 million people, and in Europe new infection numbers are falling as lockdowns take effect, India is reporting record new cases and other parts of Asia are seeing caseloads rise.



That is likely to continue to keep a lid on any revival of global travel and keep prices rangebound as the summer approaches, analysts and traders said.



The U.S. economy is at an &#8220;inflection point&#8221; amid expectations that growth and hiring will accelerate in the months ahead, but faces the risk of reopening too quickly and sparking a resurgence in coronavirus cases, Federal Reserve Chair Jerome Powell said in an interview broadcast on Sunday.



&#8220;There really are risks out there. And the principal one just is that we will reopen too quickly, people will too quickly return to their old practices, and we&#8217;ll see another spike in cases,&#8221; Powell said in a CBS interview, recorded on Wednesday.



On the production side, no new oil drilling rigs were started in the United States in the most recent week, according to a widely watched report published by Baker Hughes.



(Reporting by Aaron Sheldrick; Editing by Kenneth Maxwell and Gerry Doyle)

Oil prices drop as coronavirus caseloads rise

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/ShawnHempel_AdobeStock_copperbars_012621.jpg" alt="" class="wp-image-401276" width="839" height="560" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/ShawnHempel_AdobeStock_copperbars_012621.jpg 580w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/ShawnHempel_AdobeStock_copperbars_012621-300x200.jpg 300w" sizes="auto, (max-width: 839px) 100vw, 839px" /><figcaption>Photo: Adobe Stock</figcaption></figure>



LONDON, April 9 (Reuters) &#8211; Copper prices edged lower on Friday as strong Chinese inflation data raised fears that the world&#8217;s biggest metals consumer will tighten monetary policy, though expected supply tightness kept prices on course for a weekly gain.



Benchmark copper on the London Metal Exchange (LME) was down 0.3% at $8,984 a tonne in official trading but is up about 2% for the week and on course for its first weekly rise in a month.



A barnstorming economic recovery in China and speculative buying pushed the metal used in power and construction to $9,617 in February, its highest in a decade, before prices stagnated.



The gains should resume as countries pump money into copper-intensive infrastructure and electrification, said WisdomTree analyst Nitesh Shah, though he cautioned that the journey higher could be bumpy.



&#8220;The long-term story is just very positive,&#8221; he said. &#8220;I really doubt that miners are going to be able to keep up with the pace of demand.&#8221;



CHINA INFLATION: Factory gate prices in China rose in March at their fastest annual pace since July 2018. Chinese stock markets fell as investors anticipated tighter monetary policy to contain inflation.



GLOBAL MARKETS: Despite the falls in China, global stocks hit record highs and European equities were on course for their longest weekly winning streak since November 2019. The dollar gained, putting metals under pressure by making them more costly for non-U.S. buyers.



CHINA DEMAND: A delayed seasonal increase in Chinese copper demand is sapping momentum from the metal&#8217;s rally.



Yangshan import premiums fell to $51.50 a tonne from more than $70 a month ago, suggesting lower Chinese demand for overseas metal.



China&#8217;s refined copper imports this year are expected to fall by about 27% from last year&#8217;s bumper levels and primary aluminium inflows will more than halve, researchers Antaike said.



PRICES: LME aluminium was down 0.7% at $2,267.50 a tonne, zinc fell 0.9% to $2,828, nickel was 0.9% down at $16,678, lead slipped 0.3% to $1,978 and tin almost unchanged at $25,798.



All were on track for weekly gains.



(Reporting by Peter Hobson Additional reporting by Mai Nguyen Editing by David Goodman and Emelia Sithole-Matarise)

Copper heads for weekly gain despite dip on China policy fears

LONDON, April 9 (Reuters) &#8211; Oil prices edged lower on Friday on rising supplies from major producers and concerns over a mixed picture on the COVID-19 pandemic&#8217;s impact on fuel demand.



Brent crude futures for June fell 16 cents, or 0.25%, to $63.04 a barrel by 1014 GMT while U.S. West Texas Intermediate (WTI) crude for May was at $59.53, down 7 cents.



Both contracts are on track for a 2%-3% drop this week but still far from a low of $60.47 hit two weeks ago. Exerting downward pressure is the decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, to increase supplies by 2 million barrels per day between May and July.



Analysts expect global oil inventories to continue to fall, however, predicting accelerating fuel demand in the second half of the year as the global economic recovery gathers steam.



&#8220;A lot of destocking is going on, so we are well into the rebalancing process,&#8221; said Energy Aspects analyst Virendra Chauhan.



Physical markets will still need to pick up, though, before prices and inter-month spreads can rally, he added.



For all the optimism, renewed coronavirus lockdowns in some parts of the world and problems with vaccination programmes could threaten the oil demand picture.



Stephen Innes, chief global markets strategist at Axi, said oil prices are expected to trade in a range between $60 and $70 as investors weigh these factors.



&#8220;Oil is currently in a wait and see mode, with market participants looking at the vaccination pace to understand when oil demand will recover further and at nuclear talks in Vienna to see when more Iranian barrels might come back,&#8221; said UBS commodity analyst Giovanni Staunovo.



Chinese and Russian envoys to the Iran nuclear talks on Friday said there had been progress in efforts to bring Iran and the United States back into compliance with the 2015 nuclear deal and that all sides would reconvene next week.



&#8220;If a fulsome framework can be crafted in the coming weeks, significant quantities of Iranian oil will likely hit the market in H2 2021,&#8221; RBC Capital analyst Helima Croft said in a note this week.



(Reporting by Florence Tan in Singapore and Julia Payne in London Editing by David Goodman)

Oil prices dip on mixed supply and demand outlook

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/9cac951f8b335b96a5757c53e5003d91-820x547.jpg" alt="" class="wp-image-401155" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/9cac951f8b335b96a5757c53e5003d91-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/9cac951f8b335b96a5757c53e5003d91-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/9cac951f8b335b96a5757c53e5003d91-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/9cac951f8b335b96a5757c53e5003d91.jpg 959w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Photo: Getty Images</figcaption></figure>



VATICAN CITY, April 8 (Reuters) &#8211; Pope Francis has told world financial chiefs that poor countries hit by the economic impact of the coronavirus need to have their debt burden reduced and be given a greater say in global decision making.



In a letter to the participants of the International Monetary Fund and World Bank&#8217;s annual spring meeting, the pope said the pandemic had forced the world to come to terms with interrelated socioeconomic, ecological, and political crises.



&#8220;The notion of recovery cannot be content to a return to an unequal and unsustainable model of economic and social life, where a tiny minority of the world&#8217;s population owns half of its wealth,&#8221; the pontiff said in the letter dated April 4.



He called for a new &#8220;global plan&#8221; that &#8220;necessarily means giving poorer and less developed nations an effective share in decision-making and facilitating access to the international market.&#8221;



A spirit of global solidarity &#8220;demands at the least a significant reduction in the debt burden of the poorest nations, which has been exacerbated by the pandemic,&#8221; he said.



Financial chiefs of the Group of 20 large economies on Wednesday extended a suspension of debt servicing costs for developing countries but fell short of cancelling debt or expanding debt relief as requested by non-profit organisations.



Financial markets need to be underpinned by laws and regulations that ensure they work for the common good, the pope said, calling for &#8220;a justly financed vaccine solidarity.&#8221;



&#8220;We cannot allow the law of the marketplace to take precedence over the law of love and the health of all,&#8221; he said.



With inoculation campaigns in poor African countries lagging far behind those of the rich world, particularly the United States and Britain, the pope appealed to political and business leaders to provide &#8220;vaccines for all, especially for the most vulnerable and needy.&#8221; 



(Reporting by Gavin Jones; Edited by Crispian Balmer)

9cac951f8b335b96a5757c53e5003d91

Cut the debt of poor countries, Pope tells IMF, World Bank

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="492" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/bill-and-melinda-gates-t-820x492.jpg" alt="" class="wp-image-401148" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/bill-and-melinda-gates-t-820x492.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/bill-and-melinda-gates-t-300x180.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/bill-and-melinda-gates-t-768x461.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/bill-and-melinda-gates-t.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Photo: Getty Images</figcaption></figure>



In the year since COVID-19 hit, economies across Africa have experienced a dramatic slowdown. Even countries with limited initial incidence of the virus faced severe economic aftershocks. Significant disruption in agricultural markets and labor&nbsp;in sub-Saharan Africa has restricted income and led to rapid food insecurity&nbsp;for many.



Making sure emergency financial support could reach people quickly became a priority for many governments, but with lockdowns and social distancing, traditional means of distributing relief were often unavailable. Countries which had invested in making their financial systems more inclusive before the pandemic were able to mitigate the most severe economic shocks to households.



The ability of these countries to act wasn’t built on radical reinvention, but rather on effective use of established solutions that drive digitization, growth, and inclusion. Of course, there is a limit to how much countries can expand financial access amid a crisis, so the time to upgrade financial regulations and infrastructure to drive inclusion is now.



As African and global leaders meet at the World Bank and IMF Spring Meetings this week to discuss steps countries can take to rebuild their economies from the pandemic, they need not reinvent the wheel. Here are three suggestions for how countries can make their economies more resilient to future shocks including climate change, natural disasters, and the next pandemic.



First, countries should craft financial services regulations that provide space for companies and industry to innovate, while safeguarding consumers against risks, including data privacy and cybersecurity. When countries get their financial regulations right, the benefits of financial inclusion can accrue rapidly.



For example, mobile money penetration in Ghana tripled between 2014 and 2017, while overall financial account access increased from 41 percent to 58 percent. The catalyst for this remarkable growth was the Bank of Ghana’s introduction of new electronic money regulations in 2015, which permitted non-banks, such as mobile operators, to own and run mobile money businesses, while simplifying the process for consumers opening entry-level accounts. These reforms demonstrate how central banks can rapidly expand financial access, while maintaining safe and effective systems.



But upgrading financial services regulations is only part of the solution. Governments need to increase their ability to identify citizens and transact with them safely and quickly. Investing in inclusive digital payment and identity infrastructure is the second step governments should take to rebuild their financial systems and build more resilient economies.



During the COVID-19 pandemic, countries with high levels of payment and ID connectivity could quickly identify and deliver payments to households eligible for emergency funds. Digital payment and ID systems eliminated the need for people to complete paper forms or contend with crowded lines to receive emergency funds; they could apply online or by SMS and be paid digitally. In Namibia, which has high ID uptake and enabling e-money regulations, informal workers could apply for assistance via SMS; approved applicants then received an e-wallet token that could be withdrawn at an ATM or used for digital transactions. Within three weeks, the government had distributed cash digitally to over one-third of working-age adults.



By contrast, countries with limited payment connectivity and identity systems had less effective options. Some governments had to physically deliver cash, while others relied on social protection measures, such as subsidizing the price of food or fuel.



Fortunately, governments seeking to upgrade their digital financial systems need not start from scratch. They can make use of new, open-source payment and identity platforms, such as Mojaloop and MOSIP, built on best-in-class privacy, data protection, and cybersecurity frameworks. These innovations are already accelerating digital financial inclusion in several countries. Ethiopia and Guinea are exploring pilots based on the MOSIP platform.



A third step governments can take to build more resilient economies is to put women front and center. A growing body of experimental evidence demonstrates that getting money into the hands of women to connect them to the formal financial system, can lead to long-term benefits, including more decision-making power in their household, and greater economic security.



Through targeted emergency payment systems, enabled by strong, inclusive digital financial systems, governments have bolstered economic activity and supported women during the pandemic. In Togo, the government set up the NOVISSI cash transfer scheme to support the most vulnerable citizens, whose daily income was disrupted by the pandemic. Through the program, more than 370,000<a href="#_ftn1">[1]</a> women in Togo received financial aid between April and June 2020.



A full understanding of the outcomes of rapid response measures undertaken by governments to alleviate the economic impact of the pandemic will take time. It is clear, however, that over the last year, governments have preserved millions of lives and livelihoods through judicious use of inclusive digital financial infrastructure.<a href="#_ftn2">[2]</a>



As we emerge from the pandemic, governments have an opportunity to use lessons from the crisis to build the inclusive financial systems they will need to respond to future economic crises. By doing this, they can also position their economies for growth and resiliency in this digital century.



<hr class="wp-block-separator"/>

bill-and-melinda-gates-t

Three steps towards more resilient and inclusive post-COVID-19 economies

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-820x404.jpg" alt="" class="wp-image-400971" width="839" height="413" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-820x404.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-300x148.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-768x379.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252.jpg 1458w" sizes="auto, (max-width: 839px) 100vw, 839px" /><figcaption>&nbsp;Photo: Getty Images/iStockphoto</figcaption></figure>



April 7 (Reuters) &#8211; Gold prices dropped on Wednesday as expanded coronavirus vaccinations and a slew of upbeat data from the United States sparked hopes about a faster economic rebound, weighing on the metal&#8217;s safe-haven appeal. Spot gold was down 0.2% to $1,740.37 per ounce by 0634 GMT. U.S. gold futures slipped 0.2% to $1,739.40 per ounce.



&#8220;The better-than-expected economic data from the United States is not allowing gold prices to go above a certain level,&#8221; said Sunilkumar Katke, head of currencies and commodities at Axis Securities.



In the latest round of robust economic data, work opportunities in the United States reached a two-year peak in February, as hiring grew in response to rising domestic demand, increased COVID-19 vaccinations, and additional government pandemic assistance.



The International Monetary Fund also raised its outlook for global economic growth, forecasting worldwide output would rise 6% this year.



Gold was also pressured as Asian shares climbed to three-week highs, reducing investors&#8217; appetite for bullion.



&#8220;Once gold touches the $1,750 resistance level, technical longs will be initiated and that might push prices up to $1,780,&#8221; Katke added.



Bullion prices rose to their highest level since March 25 at $1,745.15 on Tuesday, as U.S. Treasury yields eased and the dollar fell to a two-week low against a basket of currencies.



&#8220;Softening of the yields points towards a situation where central banks around the globe will remain dovish and that will support gold at least in the medium term,&#8221; said Stephen Innes, chief global market strategist at financial services firm Axi.



Market participants now await the release of minutes from the U.S. Federal Reserve&#8217;s March 16-17 policy meeting at 1800 GMT.



Among other metals, silver fell 0.4% to $25.06 per ounce and palladium was down 0.3% to $2,677.16, while Platinum rose 0.5% to $1,238.72.



(Reporting by Diptendu Lahiri in Bengaluru; Editing by Subhranshu Sahu and Shailesh Kuber)

Gold ingots and coins

PRECIOUS-Gold slips as strong U.S. data dims safe-haven appeal

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="433" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/Oped-Marwala-IndustryTW-option-1-820x433.jpg" alt="" class="wp-image-400958" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/Oped-Marwala-IndustryTW-option-1-820x433.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/Oped-Marwala-IndustryTW-option-1-300x158.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/Oped-Marwala-IndustryTW-option-1-768x406.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/Oped-Marwala-IndustryTW-option-1-1536x811.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/Oped-Marwala-IndustryTW-option-1.jpg 2000w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, April 7 (Reuters) &#8211; South Africa&#8217;s private sector activity expanded marginally in March, as growth in business output slowed while new orders fell again, a survey showed on Wednesday.



IHS Markit&#8217;s Purchasing Managers&#8217; Index (PMI) rose slightly to 50.3 from 50.2 in February, remaining above the 50 level that indicates expansion for the sixth month in a row.



&#8220;Business output continued to expand at the end of the first quarter of 2021 &#8230;However, with many respondents seeing a drop in client demand, the rate of expansion slowed and was only slight,&#8221; IHS Markit said in a statement.



Growth in the output index slowed to 50.3 in March from 50.5 in February, while the new orders index fell for a fifth consecutive month to 49.6 due to the impact of the COVID-19 pandemic.



&#8220;Additional supply concerns may constrain activity further in the coming months, before the global COVID-19 vaccine roll-out can restore business confidence and global demand later in the year,&#8221; IHS Markit economist David Owen said.



South Africa is Africa&#8217;s hardest-hit country in terms of recorded coronavirus cases and deaths, while its vaccination programme has so far lagged wealthier nations &#8211; raising prospects of tighter lockdown restrictions should infections rise rapidly again.



The economy contracted by 7% in 2020, its worst annual decline in a century, after the virus disrupted activity. 



(Reporting by Olivia Kumwenda-Mtambo; editing by John Stonestreet)

Social Distancing Measures At BMW South Africa Rosslyn Plant

South African factory activity up slightly in March – PMI

LONDON, April 1 (Reuters) &#8211; Ghana and Pakistan&#8217;s return to international debt markets this week, a year after COVID slammed them shut, has been an encouraging sign for the world&#8217;s poorest countries, but investors still need convincing.



As the pandemic enters its second year, funding needs are huge. Lower growth and higher deficits mean public debt in developing nations swelled to more than 60% of gross domestic product last year, rising by double-digit percentage points from 2019 in Latin America, the Caribbean and South Asia, Eurodad estimates.



They have a route to cope with the debt load. Last year, the International Monetary Fund and the World Bank launched the Debt Service Suspension Initiative (DSSI) and its accompanying Common Framework to help the poorest nations survive the pandemic. They create obvious benefits. But they also carry additional hazards.



The Common Framework effectively requires a country to try to restructure its private debt. That would trigger a default in the eyes of credit-ratings agencies, a situation investors wouldn&#8217;t want to be dragged into.



The scheme has been something of a hot potato even after Ethiopia said in January it would be the first country with an international government bond, and not already in default, to use it. It was promptly downgraded by Fitch and S&amp;P.



Neither Ghana, Pakistan nor the Maldives, which also sold an Islamic finance bond this week, had signalled plans to follow suit. This week&#8217;s debt sales showed how sensitive the issue has become.



&#8220;The G20 Common Framework requires the debtor country to seek comparability of treatment with private creditors, and investors are concerned how that may be implemented,&#8221; said Jim Ho, a sovereign debt restructuring lawyer at Cleary Gottlieb.



Investors who bought into Ghana&#8217;s $3 billion bond sale on Wednesday said officials had assured the would-be buyers that the government, which has debt approaching 80% of GDP and spends roughly half of its revenue on interest payments, was not planning to pursue debt relief.



&#8220;They were saying they are not going for DSSI,&#8221; said Richard Briggs, at fund manager GAM, who bought a slice of the issue. &#8220;They were worried about the perception of what DSSI might mean.&#8221;



In what was seen as an alternative, one of the bonds Ghana sold was a four-year, zero-coupon issue. Zero coupons are not common among emerging-market issuers, but the lack of regular coupon payments effectively allows the government to defer some it payments.



That cost Ghana, classified as at high risk of debt distress by the IMF. Its yield-to-maturity equivalent was 7.3%, around 150 basis points above its existing comparable bonds.



Maldives and Pakistan took a different approach. They have applied for DSSI, as has Ivory Coast which become the first of the DSSI cohort to return to borrowing markets in November.



Analysts said that partly explained why Maldives&#8217; $200 million five-year sukuk was less than it planned to borrow and priced at 10.5%, reckoned by Tellimer to be one of the highest yields at issue since Mongolia in 2016.



&#8220;The operation may signal that investors remain sceptical about the Maldives&#8217; post-Covid recovery,&#8221; Tellimer&#8217;s Stuart Culverhouse wrote in a note.



Laos in south east Asia, meanwhile, has been forced to scrap a bond sale for the third time this month.



AFRICA ISSUERS



Despite the doubts, many saw this week&#8217;s sales as the latest sign of a gradual recovery of poorer nations. For around a year, they have had to rely on debt relief and funding from international financial institutions like the IMF.



&#8220;These have opened the issuance door to those EM countries burdened by almost a year of noise surrounding PSI (private sector involvement) and the G20 common framework,&#8221; said Simon Quijano-Evans, chief economist Gemcorp Capital.



Hastening the push is a desire to secure funding before U.S. bond yields possibly climb higher later in the year.



&#8220;There&#8217;s certainly more uncertainty looking forward, but it&#8217;s difficult for most borrowers to imagine that by waiting they&#8217;re going to gain economic advantage, i.e. lower financing costs,&#8221; said Stefan Weiler, JPMorgan&#8217;s head of Central and Eastern Europe, Middle East and Africa debt capital markets.



The first quarter saw around $225 billion of EM debt issuance, according to Refinitiv data, up from $181 billion in the same period of last year, the final weeks of which were blighted by the pandemic.



&#8220;We do anticipate a meaningful pickup in sovereign supply from Africa this year,&#8221; Weiler said. &#8220;There&#8217;s general expectation that several countries will look to come to the bond market this year.&#8221;



Low-income countries would need $200 billion over five years to fight the pandemic and $250 billion to return to the path of catching up to higher income levels, IMF Managing Director Kristalina Georgieva said on Tuesday.



Some help may come from a possible $650 billion handout of the IMF&#8217;s Special Drawing Rights &#8211; its quasi-currency &#8211; which might be finalised at the spring meetings next week.



On the issue of countries not openly talking about whether they would opt for DSSI or the Common Framework at bond road shows, &#8220;you wouldn&#8217;t expect them to, said Jeff Grills, head of emerging markets debt at Aegon Asset Management. &#8220;We will probably learn more at the IMF meetings&#8221;

Economy

Copper rises back towards 10-year high on weaker dollar

Building Conducive Business Environment Key to Reviving Manufacturing

Gold firms as softer U.S. dollar, yields lift appeal

Sub-Saharan Africa’s economy to rebound this year as activity picks up

Nigerian Exchange dips after OTC market debut

Oil climbs to four-week high on strong China data, demand revival

GLOBAL MARKETS-World stocks near record highs as China, U.S. data back global recovery hopes

Oil holds near one-month highs as demand forecasts raised

South Africa extends COVID-19 loan scheme deadline by three months

Oil prices drop as coronavirus caseloads rise

Copper heads for weekly gain despite dip on China policy fears

Oil prices dip on mixed supply and demand outlook

Cut the debt of poor countries, Pope tells IMF, World Bank

Three steps towards more resilient and inclusive post-COVID-19 economies

PRECIOUS-Gold slips as strong U.S. data dims safe-haven appeal

South African factory activity up slightly in March – PMI

ANALYSIS-Poorest countries will follow a tricky path back to debt markets

News Tips

Advertise With Us

Economy

Copper rises back towards 10-year high on weaker dollar

Building Conducive Business Environment Key to Reviving Manufacturing

Gold firms as softer U.S. dollar, yields lift appeal

Sub-Saharan Africa’s economy to rebound this year as activity picks up

Nigerian Exchange dips after OTC market debut

Oil climbs to four-week high on strong China data, demand revival

GLOBAL MARKETS-World stocks near record highs as China, U.S. data back global recovery hopes

Oil holds near one-month highs as demand forecasts raised

South Africa extends COVID-19 loan scheme deadline by three months

Oil prices drop as coronavirus caseloads rise

Copper heads for weekly gain despite dip on China policy fears

Oil prices dip on mixed supply and demand outlook

Cut the debt of poor countries, Pope tells IMF, World Bank

Three steps towards more resilient and inclusive post-COVID-19 economies

PRECIOUS-Gold slips as strong U.S. data dims safe-haven appeal

South African factory activity up slightly in March – PMI

ANALYSIS-Poorest countries will follow a tricky path back to debt markets

News Tips

Advertise With Us

Newsletters