Lumen Technologies hires Sean Alexander as head of Connected Ecosystems
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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EVENTS:
GHANA - The statistics office releases inflation data for
December. The rate rose to 8.2% in November from 7.7% in the
previous month.
ETHIOPIA - Ministers from Egypt, Sudan and Ethiopia are
scheduled to meet to tackle their disputes over the $4
billion hydroelectric dam that Ethiopia is building on the
Blue Nile River.
GLOBAL MARKETS
Financial markets were roiled on Wednesday after Iran fired
missiles at U.S. forces in Iraq, sending Asian stocks and
U.S. Treasury yields sliding and sharply lifting oil prices
as investors feared a wider conflict in the Middle East.
MKTS/GLOB
WORLD OIL PRICES
Oil prices jumped to their highest in months on Wednesday
after Iran attacked American forces in Iraq in response to a
U.S. strike that killed an Iranian general last week,
raising the spectre of a spiralling conflict and disrupted
oil supplies.
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand strengthened on Tuesday as the absence
of any immediate escalation in tensions between Iran and the
United States prompted investors to return to riskier
assets.
MARKETS
Kenya's shilling KES= weakened on Tuesday due to increased
dollar demand from oil and manufacturing companies, amid
scant hard currency inflows, traders said.
NAKUMATT
Creditors of Kenya's Nakumatt supermarket chain, once East
Africa's biggest retailer, voted on Tuesday to wind it up
after it was unable to pay debts following a failed rescue
attempt.
SECURITY
Four Kenyan school children were killed in a gunfight on
Tuesday between police and al Shabaab militants from Somalia
who attacked a telecommunications mast in the third such
deadly incident in Kenya this week, police and an official
said.
ECONOMY
Ethiopia's economy is expected to grow at a faster pace in
its 2019/20 fiscal year from the previous year, helped by
improvements in its financial sector, its central bank said.
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