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Karrie International Holdings' Profit Falls in Fiscal 2024

  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.
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S.African rand slips as cabinet announcement appears nearer

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  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...
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Morocco central bank cuts benchmark interest rate to 2.75%

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  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.
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