Author: Olu Anisere

Fitch Ratings has affirmed Zenith Bank Plc’s Viability Rating (VR) at ‘b’, Long-Term Issuer Default Rating (IDR) at ‘B’ and National Long-Term Rating at ‘AA(nga)’. Fitch’s outlook on the Long-Term IDR and the National Long-Term Rating is stable.

Oil prices rose in the global commodity market on Friday as escalating tensions between the US and Iran in the Strait of Hormuz renewed concerns about global energy supply security.

Ripple (XRP) price has lost about 3% over the last 24 hours to $1.39 amid sell-offs triggered by investors exiting their Bitcoin positions. The world’s largest digital asset has posted significant gains since last week, and altcoins have followed suit.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices declined, fueling sell pressures in altcoins after a previous rally that lifted the market cap of all digital assets.

South African Rand Rallies Against Dollar, Euro, Sterling The South African Rand strengthened against its major currencies as easing Middle East tensions triggered low-dollar demand in the forex market. ZAR surged to R16.38 per dollar, R19.25 per euro, and R22.27 per pound, First National Bank (FNB) said in a morning brief. FX analysts stated that the South African local currency gained on renewed hopes of a peace agreement between the United States and Iran. A significant number of emerging market currencies have broadly returned to pre-war levels, the bank said as gold gained attention in the commodity market. Gold held…

With investor sentiment remaining in doubt, crude oil prices climbed again after a sharp daily slowdown, reflecting persistent uncertainties about the supply outlook.

Ghana’s Private Sector Growth Slows in April Ghana’s private sector growth slowed in April, according to the Purchasing Manager Index (PMI) report released by S&P Global on Wednesday. The report indicates new orders continued to rise in Ghana’s private sector in April, but the rate of expansion slowed, and business activity fell amid renewed increases in input costs and output prices. Nonetheless, companies continued to expand their staffing levels and purchasing activity, while remaining confident of increases in output over the coming year. The S&P Global Ghana Purchasing Managers’ Index posted 50.3 in April, down from 51.4 in March but…

MicroStrategy Eyes Bitcoin Sale to Pay Dividends For years, Michael Saylor said the same thing over and over, Strategy would never sell its Bitcoin. Not for any reason. Not under any pressure. The company would buy, hold, and keep holding forever. That position crumbled on Tuesday. Saylor, the executive chairman of Strategy, the company formerly known as MicroStrategy and widely regarded as the most aggressive corporate Bitcoin buyer in history, publicly admitted that the firm is now considering selling a portion of its enormous Bitcoin stockpile. The reason is not a loss of faith in the digital currency. It is…

South African Rand Gains as Gold Rises, Oil Prices Ease The South African Rand rallied against the US dollar, the euro, the British pound, and the Japanese yen on Wednesday as easing Middle East tensions drove gold prices higher. The rand has strengthened against major crosses this morning, trading at R16.53 per dollar, R19.38 per euro, and R22.42 per pound, First National Bank (FNB) said in a brief. ZAR gain was supported by improved risk sentiment following US President Donald Trump’s comments flagging “great progress” in talks with Iran, which boosted hopes for a peace deal and reduced geopolitical tensions.…

Oil prices declined on Wednesday amid growing optimism over a final agreement between the US and Iran. Brent crude traded at $108.66 per barrel, down around 1.16% from the previous close of $109.87.