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Oil prices have given up gains scored earlier today after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day. Brent crude slid $1 and 20 cents to trade a $36 per barrel, while U.S. West Texas Intermediate crude dropped $1 and 12 cents to $33 and 24 cents. As global markets continue to respond to impact from the coronavirus, Lukman Otunuga, Senior Research Analyst at FXTM Market joins CNBC Africa for more.</p>


More pain for oil markets as the Russia-Saudi price war escalates

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<p>With continued tensions between the U.S and Iran, oil shoots up a further 2 per cent today, pushing Brent above $70 a barrel. How will this surge of oil prices affect South Africa and its economic position for 2020? Annabel Bishop, Chief Economist at Investec joins CNBC Africa for more.</p>


Will tensions between Iran and the U.S affect SA – if so

Will tensions between Iran and the U.S affect SA – if so, how?


<p>JOHANNESBURG (Reuters) &#8211; South Africa&#8217;s rand inched slightly up in early trade on Monday, holding near a 3-week high it hit in the previous session, as risk sentiment strengthened following signs of progress in U.S.-China trade talks and a Brexit breakthrough.</p>



<p>At 0610 GMT, the rand was 0.05% firmer at 14.7470 per dollar, not far from Friday&#8217;s rally to 14.7100. </p>



<p>On Friday, U.S. President Donald Trump said the United States and China had reached a &#8220;Phase 1&#8221; trade deal and suspended a threatened tariff hike, spurring a rally of emerging market currencies led by the rand.</p>



<p>In South Africa, with no local data due in the session, positioning will continue to be influenced to by offshore developments, traders said.</p>



<p>&#8220;The current levels of the local unit likely to attract some dollar buying interest, technically an attempt on 14.6000 remains a likely scenario,&#8221; traders at Nedbank said in a note.</p>



<p>Reports on Friday that European Union and Britain would hold intense talks over the next few days to secure a deal for Britain&#8217;s departure from the bloc as the Oct. 31 deadline looms large, also helped demand for currencies. </p>



<p>Bonds were slightly firmer, with the yield on the benchmark paper due in 2026 down 0.5 basis points to 8.23%.        </p>



<p>(Reporting by Mfuneko Toyana; Editing by Rashmi Aich)</p>


South Africa’s rand steady following signs of progress in U.S. – China trade talks

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<p>Meddy, a U.S based Rwandan R&#038;B singer sat down with CNBC Africa’s Fiona Muthoni to have an in depth conversation on how he managed to turn music into a sustainable career and how much he invests into his craft. He joins CNBC Africa for more.</p>


How Rwandan R&B singer Meddy turned music into a sustainable career

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<p>U.S President Donald Trump says the U.S and China will resume trade talks very shortly, brent crude futures are up in early trade after falling one per cent in the previous session. Uchenna Minnis, Chief Market Analyst at Eagle Global Markets joins me for a focus on the oil market and G7 meeting. He joins CNBC Africa for more.</p>


Oil rises on signs of easing trade tensions, will a consensus be reached in trade negotiations?

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<p>The United States Department of Justice (USDJ) has accused 80 individuals, including 78 Nigerians, of involvement in a business email scam and money laundering scheme to the tune of 3 billion dollars since 2015. To discuss the growing concerns around cybercrime and the implication for Nigeria’s image on the global scene, Ifure Udofa, Associate Counsel of Corporate and Commercial Practice Group at A02 Law joins CNBC Africa for more.</p>


Cybercrime on the rise: 78 Nigerians implicated in business email scam and money laundering schemes

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<p>Ryan Patel, Global Business Executive and Senior Fellow at Drucker School of Management joins CNBC Africa to give insight into the U.S-China trade war and the impact on global markets.</p>


U.S-China trade war: What will the end game look like?

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<p>Traders say Nigerian Treasury Bill (NTB) yields rose about 70 basis points over escalating trade tensions between the U.S and China. For more details on this week’s activities at the Money market in Nigeria, Nnamdi Olisaeloka, fixed income, currencies and commodities Analyst at Zedcrest Capital joins CNBC Africa for more.</p>


Investors assess political risk profile as US-China trade tensions escalate

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<p>Brent crude futures are trading near seven-month lows as the trade tensions between the U.S and China continue to raise demand concerns in the already pressured oil markets. Olumide Ibikunle, Energy Analyst at Meristem Securities joins CNBC Africa for more.</p>


How the U.S-China trade war impacts oil markets

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<p>The naira appreciated by 0.1 per cent to 362 naira 21 Kobo at the Investors and Exports (I &#038; E) window on Monday, while parallel market rates weakened by 0.3 per cent. To review Nigeria&#8217;s money market as the U.S face-off with China escalates, Chioma Udu, Forex Dealer at GT Bank joins CNBC Africa for more.</p>


US-China trade war: How is it affecting the naira?

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<p>U.S President Donald Trump’s new 300 billion dollar tariff on Chinese goods is set to take effect from the first of September. To discuss the implications of this for global trade and review this week activities at Nigeria’s money markets, Ifueko Olotu, Team Lead of Treasury Coverage at Access Bank joins CNBC Africa for more.</p>


China-U.S trade relations set for a twisted turn: What are the implications thereof?


<p>WASHINGTON (Reuters) &#8211; The U.S. State Department said on Tuesday it had imposed visa restrictions on Nigerians it said were involved in trying to undermine democracy in presidential and parliamentary elections this year.</p>



<p>The department did not name the individuals or say how many were affected by the visa restrictions. President Muhammadu Buhari won a second term in February in an election marred by delays, logistical glitches and violence.</p>



<p>“These individuals have operated with impunity at the expense of the Nigerian people and undermined democratic principles and human rights,” spokeswoman Morgan Ortagus said in a statement.</p>



<p>“The Department of State emphasizes that the actions announced today are specific to certain individuals and not directed at the Nigerian people or the newly elected government,” Ortagus added.</p>



<p>Reporting by Lesley Wroughton, Editing by Rosalba O&#8217;Brien</p>


U.S. imposes visa restrictions on Nigerians involved in this…

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<p>Brent futures recorded its biggest weekly price decline last week as trade tensions between the U.S and China continue. Edward Voelcker, Independent Advisor on Oil and Gas joins CNBC Africa from London to discuss the dynamics at play in the global oil market.</p>


Oil suffer worst weekly performance amid trade turmoil

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<p>The European Commission has added Nigeria Saudi Arabia and four U.S territories to a blacklist of nations that pose a threat owing to insufficient controls on terrorism financing and money laundering. Winston Osuchukwu, Co-Founder Trans-Sahara Incorporated joins CNBC Africa to discuss Nigeria’s Anti-Laundering strategy.</p>


Nigeria added to EU’s dirty money blacklist

<p>JOHANNESBURG (Reuters) &#8211; South Africa’s rand weakened in early trade on Tuesday, in line with falls in stocks amid subdued investor appetite for riskier assets ahead of U.S. midterm elections later in the day.</p>
<p>At 0650 GMT, the rand traded at 14.1175 per dollar, 0.11 percent weaker, having closed in New York at 14.1625.</p>
<p>The currency is expected to trade in a range of 14.1000 to 14.4000 to the dollar on Tuesday, NKC African Economics said in a note.</p>
<p>The rand remained under pressure as markets favoured caution ahead of U.S. midterm Congressional elections, as policy decisions that could sway the economy, corporate decision-making and consumer spending hinge on the results.</p>
<p>Emerging market assets will likely respond inversely to movements in the U.S. dollar after the elections.</p>
<p>Government bonds were firmer early on Tuesday, with the yield on the benchmark instrument due in 2026 down 4 basis points at 9.110 percent.</p>
<p>Stocks were set to open lower at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 0.37 percent.</p>
<p>Reporting by Nomvelo Chalumbira; editing by Richard Pullin</p>


Why U.S midterms are putting pressure on South African rand ahead of elections

<p>WASHINGTON (Reuters) &#8211; The United States is concerned that increased currency swap agreements between China and African nations will reduce visibility into financial transactions and will make it harder to prevent money laundering, a senior U.S. sanctions official said on Thursday.</p>
<p>Marshall Billingslea, the U.S. Treasury Department’s assistant secretary for terrorist financing, told a congressional hearing that while there was greater interest in using the yuan, most African countries still found it necessary to ultimately clear trade in U.S. dollars.</p>
<p>He was responding to questions by Republican Representative Chris Smith, who cited a $2.5 billion currency swap agreement between China and Nigeria to facilitate trade between the two countries, and a meeting of African finance leaders in June that sought to discuss using China’s yuan as a reserve currency for the region.</p>
<p>Nigeria is the third African nation to agree a currency swap deal with China.</p>
<p>“You are very much onto something of great concern to us as well,” Billingslea replied, referring to increased currency swap agreements between China and African governments.</p>
<p>“That said, there remains a great desire among most of the countries in Africa to maintain correspondent banking relationships with U.S. banks. At the end of the day they still are finding it necessary to ultimately clear trade in U.S. dollars,” he said.</p>
<p>He said maintaining those correspondent banking ties was “our best line of defense to ensure we maintain not just a degree of transparency and visibility into the transactions in Africa but &#8230; further to ensure that anti-money laundering standards are being applied.”</p>
<p>Reporting by Lesley Wroughton; Editing by Leslie Adler</p>


Why U.S is concerned about increased currency swap agreements between African nations and China

<p>WASHINGTON (Reuters) &#8211; The U.S. government will not lift sanctions against Zimbabwe until the new government of President Emmerson Mnangagwa demonstrates it is “changing its ways,” a senior U.S. economic official told a congressional panel on Thursday.</p>
<p>Manisha Singh, the U.S. Assistant Secretary of State for Economic and Business Affairs, told a House of Representatives hearing there were 141 entities and individuals in Zimbabwe, including Mnangagwa and former president Robert Mugabe, that are currently under U.S. sanctions.</p>
<p>“Our pressure on Zimbabwe remains in place. We are trying to use this pressure to leverage political and economic reforms, human rights observations,” Singh said.</p>
<p>“We want to see fundamental changes in Zimbabwe and only then will we resume normal relations with them,” she added.</p>
<p>Mnangagwa was sworn in as Zimbabwe’s new president on Aug. 26 after the Constitutional Court confirmed his July 30 election victory, dismissing a challenge by opposition leader Nelson Chamisa.</p>
<p>Mnangagwa has called for the lifting of U.S. sanctions against officials from the ZANU-PF ruling party, top military figures and some government-owned firms, which were imposed during Mugabe’s rule for it called violations of human rights and democracy.</p>
<p>The EU lifted most of its sanctions in 2014, but has maintained those against Mugabe and his wife Grace.</p>
<p>The July ballot was touted as a crucial step toward shedding the pariah reputation that Zimbabwe gained under Mugabe as well as securing international donor funding.</p>
<p>Rep. Karen Bass, a Democrat from California, said Zimbabwe was “trying to reach out to us now and I want to know where we are with that.”</p>
<p>“We are always open to conversations. We are open to a demonstration from the government that it is changing its ways, that it is observing human rights,” Singh added.</p>
<p>Reporting by Lesley Wroughton, editing by G Crosse</p>


U.S

More pain for oil markets as the Russia-Saudi price war escalates

Will tensions between Iran and the U.S affect SA – if so, how?

South Africa’s rand steady following signs of progress in U.S. – China trade talks

How Rwandan R&B singer Meddy turned music into a sustainable career

Oil rises on signs of easing trade tensions, will a consensus be reached in trade negotiations?

Cybercrime on the rise: 78 Nigerians implicated in business email scam and money laundering schemes

U.S-China trade war: What will the end game look like?

Investors assess political risk profile as US-China trade tensions escalate

How the U.S-China trade war impacts oil markets

US-China trade war: How is it affecting the naira?

China-U.S trade relations set for a twisted turn: What are the implications thereof?

U.S. imposes visa restrictions on Nigerians involved in this…

Oil suffer worst weekly performance amid trade turmoil

Nigeria added to EU’s dirty money blacklist

Why U.S midterms are putting pressure on South African rand ahead of elections

Why U.S is concerned about increased currency swap agreements between African nations and China

U.S. will not lift sanctions against Zimbabwe until the African country does this…

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U.S

More pain for oil markets as the Russia-Saudi price war escalates

Will tensions between Iran and the U.S affect SA – if so, how?

South Africa’s rand steady following signs of progress in U.S. – China trade talks

How Rwandan R&B singer Meddy turned music into a sustainable career

Oil rises on signs of easing trade tensions, will a consensus be reached in trade negotiations?

Cybercrime on the rise: 78 Nigerians implicated in business email scam and money laundering schemes

U.S-China trade war: What will the end game look like?

Investors assess political risk profile as US-China trade tensions escalate

How the U.S-China trade war impacts oil markets

US-China trade war: How is it affecting the naira?

China-U.S trade relations set for a twisted turn: What are the implications thereof?

U.S. imposes visa restrictions on Nigerians involved in this…

Oil suffer worst weekly performance amid trade turmoil

Nigeria added to EU’s dirty money blacklist

Why U.S midterms are putting pressure on South African rand ahead of elections

Why U.S is concerned about increased currency swap agreements between African nations and China

U.S. will not lift sanctions against Zimbabwe until the African country does this…

News Tips

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