Finance Warrior

  Morocco's central bank cut its benchmark interest rate by 25 basis points to 2.75% on Tuesday, saying the decision was consistent with the drop in the inflation rate. Inflation is expected to drop to 1.5% this year, from 6.1% last year, due to easing external inflationary pressure, the bank said in a statement following its quarterly board meeting.

  The South African rand weakened in volatile trade on Tuesday as comments from the two biggest parties in the unity government suggested a cabinet announcement by President Cyril Ramaphosa was drawing nearer. The currency was about 0.3% weaker at 18.16 to the dollar  USDZAR  by 1220 GMT, adding to losses a day earlier . Financial markets have been on tenterhooks over how Ramaphosa's new cabinet will look, as it will give a good indication of how the African National Congress party intends to share power with its largest rival, the Democratic Alliance. In total 10 political parties signed up to the unity government after the ANC lost its parliamentary majority in an election last month for the first time since the end of apartheid three decades ago. Asked whether a cabinet announcement was imminent, a senior member of the DA's negotiating team, Helen Zille, told Reuters on Tuesday: "I think you could hear something in the next 24 hours." An ANC spokesperson said the p

Newcastle coal futures fell towards the $130 per tonne level, marking a new ten-week low due to weak demand from major buyers. China and India, the world's largest consumers, are expected to reduce their imports in June compared to the previous month. China has been making strides in improving the measurement of carbon content in its products, a significant move towards meeting its climate goals and complying with stricter international carbon standards. Also, Indian federal coal minister G. Kishan Reddy announced plans to reduce coal imports and boost domestic production. On the other hand, supply chain disruptions caused by torrential rains in Indonesia and train thefts in South Africa have somewhat counterbalanced the downward pressure on coal prices.

  Abu Dhabi: The Family Development Foundation (FDF) successfully concluded its innovative ‘100 Days Sports Challenge Program’ aimed at fostering active participation of women and bolstering their skills in sports, health, and education across Abu Dhabi. As a key component of the ‘Building Women’s Skills and Abilities’ service, the initiative also focused on enhancing the psychological well-being of women by positively shaping their familial and social connections. Khawla Al Mehairi, Head of the Women Empowerment Department at the FDF, reiterated the foundation’s commitment to empowering women and nurturing their balanced development through the ‘Building Women's Skills and Abilities’ service, which encourages them to assume leadership roles in their families and communities. “The ‘100 Days Sports Challenge’ Program aimed to elevate the levels of physical and physiological fitness of participants, while reducing the risk of obesity among them. Additionally, it sought to enhance wom

  I nternational Paper's pending $7 billion-plus deal to buy U.K. packaging peer DS Smith has cleared a key U.S. regulatory hurdle. International Paper on Tuesday said the waiting period under the Hart-Scott-Rodino act has expired, removing any U.S. antitrust bar to the deal. The Memphis, Tenn., company said the acquisition remains subject to other conditions, including European regulatory approval, but that it still expects to close the deal by the end of the year.

  Karrie International Holdings'   profit attributable to equity shareholders came in at HK$169.7 million for the year ended March 31 as compared to HK$386.2 million from the previous fiscal year, a Tuesday filing with the Hong Kong Exchange said. The company saw earnings per share of HK$0.084 for the reporting period as compared to earnings of HK$0.09 per share in the previous fiscal year. The company's revenue was HK$2.92 billion for the year as compared to HK$3.08 billion from the previous year. The company attributed the decrease to an uncertain macroeconomic environment and negative factors like inflation pressure and rising interest rates among others. The company has recommended a final dividend of HK$0.04 per share to all on the register on Sept. 6. The company's shares were over 1% up on Tuesday's close.

  (12:11 GMT)  McKesson Price Target Raised to $670.00/Share From $590.00 by B of A Securities

VBNK  said Tuesday that it has received Canadian regulatory approval for its acquisition of Minnesota-based Stearns Bank Holdingford. The approval by the Canadian regulator, the Office of the Superintendent of Financial Institutions, follows clearances by US regulators. The acquisition is slated to be completed on Aug. 30.