zar
The South African rand has staged a strong comeback this week after last week’s coalition deal between ANC and Democratic Alliance. The USD/ZAR exchange rate has plunged to a low of 17.91, its lowest swing since August 2023. It has plunged by more than 7.5% from its highest point this year. SARB rate cuts to be delayedThe biggest catalyst for the USD/ZAR pair was the decision by the ANC and DA party to form a coalition government. Analysts have cheered the fact that the political situation took a less period than expected. The pair also tumbled after the latest South Africa inflation data. Acc...
Invezz
AB InBev, the brand behind Budweiser and Corona beers, reported their Q1 2024 financial results today. Comparatively, year-on-year, the company saw less revenue growth year-on-year than in 2023, but underlying profits increased. Underlying profits upThe company’s underlying profit (that is, the profit attributable to equity holders excluding non-underlying items and hyperinflation) was $1.5 billion for the quarter, an increase compared to profits of $1.3 billion for Q1 2023. Beer sales take a knockTotal volume of sales declined by 0.6%, with beers especially having a harder time. Own beer volu...
Invezz
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