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Federal Reserve Faces Potential Clash as Powell and Warsh Overlap

Federal Reserve Faces Potential Clash as Powell and Warsh Overlap

Federal Reserve Faces Potential Clash as Powell and Warsh Overlap

Lands Minister Establishes Committee to Review Adamus Resources Licence Revocation

Lands Minister Establishes Committee to Review Adamus Resources Licence Revocation

Emmanuel Armah-Kofi Buah, Ghana's Minister of Lands and Natural Resources, has set up a ministerial committee to review the revocation of Adamus Resources Limited's mining licence. This decision follows a petition from the company seeking an administrative review and potential reversal of the revocation. The committee, which includes officials from the Minerals Commission and the Lands Ministry, has two weeks to present its findings. Adamus Resources will have the opportunity to respond to any issues raised during the review process. In the meantime, a management committee will oversee operations at the company's mining site to ensure continuity.

Japanese FX Intervention Reverses Yen's Losses Amid Iran Conflict Concerns

Japanese FX Intervention Reverses Yen's Losses Amid Iran Conflict Concerns

Japan's recent intervention in the foreign exchange market has led to a significant recovery of the yen against the U.S. dollar, erasing losses incurred since the onset of the U.S.-Iran conflict. The intervention involved Japanese officials purchasing the yen to counteract its depreciation, which had reached a one-year low. This move is part of Japan's broader strategy to stabilize its economy amid rising oil prices and economic uncertainty due to the conflict in the Middle East. The yen's recovery is seen as a temporary relief, with further interventions anticipated if the currency faces renewed pressure.

Ghana's Lands Minister Initiates Review of Adamus Resources Licence Revocation

Ghana's Lands Minister Initiates Review of Adamus Resources Licence Revocation

The Minister of Lands and Natural Resources in Ghana, Emmanuel Armah-Kofi Buah, has established a ministerial committee to review the revocation of the mining licence of Adamus Resources Limited. This decision comes after the company submitted a petition seeking an administrative review and potential reversal of the earlier decision. The minister emphasized the importance of fairness and protecting investments in Ghana's mining sector. The committee, which includes officials from the Minerals Commission and the Lands Ministry, has been tasked with presenting its findings within two weeks. Adamus Resources will have the opportunity to respond to any issues raised during the review process. In the meantime, a management committee has been set up to oversee operations at the company's mining site to ensure continuity.

Japanese Authorities Intervene to Stabilize Yen Amid Market Volatility

Japanese Authorities Intervene to Stabilize Yen Amid Market Volatility

The Japanese yen has experienced significant volatility, prompting intervention by Japanese authorities to stabilize the currency. The yen saw its strongest weekly rally in over two months after officials intervened to prevent it from reaching near two-year lows against the dollar. The intervention involved purchasing the yen, which led to a temporary stabilization. Japan's top currency diplomat, Atsushi Mimura, indicated that speculative positions remain in the market, suggesting the possibility of further interventions. The intervention is part of a broader effort to address the yen's weakness, exacerbated by wide U.S.-Japan interest rate gaps and rising oil prices due to geopolitical tensions.

Federal Reserve Maintains Interest Rates Amid Rising Prices Due to Oil Shock

Federal Reserve Maintains Interest Rates Amid Rising Prices Due to Oil Shock

Federal Reserve Maintains Interest Rates Amid Rising Prices Due to Oil Shock

Namibia Achieves Zero IMF Debt, Signaling Major Fiscal Shift

Namibia Achieves Zero IMF Debt, Signaling Major Fiscal Shift

Namibia has successfully reduced its debt to the International Monetary Fund (IMF) to zero, marking a significant change in its external debt profile. This development is part of a broader fiscal consolidation effort aimed at enhancing macroeconomic stability and reducing reliance on external funding. The IMF portal indicates a total repayment of $23,887,500, reflecting Namibia's commitment to clearing its arrears. This move aligns with a trend among African nations to restructure or decrease external debt in response to tightening global financial conditions. Recently, Mozambique also cleared its $701 million debt to the IMF, highlighting a regional shift towards financial independence.

Adamus Resources Challenges Licence Revocation Over Alleged Illegal Mining

Adamus Resources Challenges Licence Revocation Over Alleged Illegal Mining

Adamus Resources Challenges Licence Revocation Over Alleged Illegal Mining

Federal Reserve Maintains Interest Rates Amid Rising Inflation Concerns

Federal Reserve Maintains Interest Rates Amid Rising Inflation Concerns

Federal Reserve Maintains Interest Rates Amid Rising Inflation Concerns

Fed Chair Nominee Kevin Warsh Faces Inflation Challenges Amid Dissent

Fed Chair Nominee Kevin Warsh Faces Inflation Challenges Amid Dissent

Fed Chair Nominee Kevin Warsh Faces Inflation Challenges Amid Dissent

Stablecoin Market Reaches $4.5 Trillion in Q1 2026, Raising Concerns Over Financial Stability

Stablecoin Market Reaches $4.5 Trillion in Q1 2026, Raising Concerns Over Financial Stability

Stablecoin Market Reaches $4.5 Trillion in Q1 2026, Raising Concerns Over Financial Stability

Japanese yen jumps against dollar hours after intervention

Japanese yen jumps against dollar hours after intervention

LONDON, May 1 (Reuters) - The yen suddenly jumped against the dollar on Friday, a day after Tokyo authorities were widely believed to have intervened to prop up the Japanese currency. The dollar fell by as much as 0.66% to a session low of 155.60 from 157.12 earlier.