November 5, 2026 Practical Finance. Smarter Money. Better Decisions.

Business News

Kenya Business Activity Rebounds as Safaricom Posts KSh58.2 Billion Half-Year Profit in HY2027
Local News

Kenya Business Activity Rebounds as Safaricom Posts KSh58.2 Billion Half-Year Profit in HY2027

Kenya’s economic and corporate outlook received two important developments this week, with private-sector business activity strengthening in October and Safaricom PLC reporting a substantial increase in half-year earnings for the six months ended September 2026. Kenya’s private-sector activity strengthened in October, with the Stanbic Bank Kenya Purchasing Managers’ Index (PMI), compiled by S&P Global, rising to 52.5 from 51.3 in September. This marked the strongest improvement in Kenyan private-sector business conditions recorded in 2026. Meanwhile, Safaricom reported a 35.9% increase in group net earnings to KSh58.2 billion in its HY2026/2027 financial results, supported by continued growth in Kenya and improving performance at its Ethiopian subsidiary. Although the two developments measure different aspects of the economy, together they provide an indication of improving commercial activity, expanding digital financial services and the importance of large corporate earnings to investor confidence. Key Takeaways Kenya’s October PMI increased to 52.5 from 51.3 in September, signalling stronger private-sector business conditions. Safaricom’s group net earnings increased…

SkyPress Desk | SkyPress News Nov 5

SkyPress Desk | SkyPress News

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SkyPress Desk is the news and markets editorial desk at SkyPress by Skyrexx, covering the latest financial news, global market…

Safaricom Earnings Outlook Puts Nairobi Securities Exchange Stocks in Focus as Investors Assess Equity, KCB, KPLC and Kenya Airways
Stocks & Stock Markets

Safaricom Earnings Outlook Puts Nairobi Securities Exchange Stocks in Focus as Investors Assess Equity, KCB, KPLC and Kenya Airways

Kenya’s stock market is heading into an important week as investors prepare for Safaricom PLC’s half-year results, scheduled for Thursday, November 5, 2026. Analysts are forecasting stronger earnings, with improving performance in Ethiopia expected to provide an important boost to the telecommunications company’s profitability.

SkyPress Desk | SkyPress News Nov 3
Avocado Business in Kenya: Farming, Trading and Export Opportunities
Local News

Avocado Business in Kenya: Farming, Trading and Export Opportunities

Kenya’s avocado industry is attracting growing attention as international demand for the fruit creates opportunities across agriculture, commodity trading and export businesses. From smallholder farmers and agricultural investors to independent produce aggregators and international exporters, the avocado value chain offers several ways to participate in a market that generated approximately KSh20.8 billion in export earnings in 2025.

SkyPress Desk | SkyPress News Oct 30

LOCAL NEWS

Binance Faces $6.3 Billion Security Breach as Crypto Markets Slide and Investors Reassess Exchange Risks
International News

Binance Faces $6.3 Billion Security Breach as Crypto Markets Slide and Investors Reassess Exchange Risks

The cryptocurrency market came under renewed pressure on Friday after Binance, the world’s largest cryptocurrency exchange, disclosed a major security breach with an estimated financial impact of $6.3 billion. The incident has raised fresh concerns about the safety of digital assets held on centralised trading platforms and the ability of exchanges to respond to large-scale cyberattacks. Binance said it had been working with industry partners to identify and freeze assets connected to the incident, with approximately $3 billion located so far. The exchange did not provide an update on the remaining $3.3 billion in its initial statement. Co-founder Yi He said the company would cover all hacking losses. Although the full financial consequences remain unclear, the scale of the reported incident has placed cryptocurrency exchange security back at the centre of investor attention. What happened at Binance? According to the initial investigation disclosed by Binance, the breach may have originated from a compromised laptop belonging to one of the exchange’s…

SkyPress Desk | SkyPress News Oct 30
Rising Fuel Costs Expose Global Economic Strain as African Households Face Pressure
International News

Rising Fuel Costs Expose Global Economic Strain as African Households Face Pressure

Rising fuel costs are creating fresh pressure across transport, tourism and household budgets, with recent developments highlighting how quickly higher energy expenses can disrupt businesses that depend on predictable operating costs. From a residential cruise ship forced to suspend its voyage in Cambodia to motorists in African cities confronting expensive petrol, the impact extends far beyond the international oil market

SkyPress Desk | SkyPress News Oct 29

INTERNATIONAL NEWS

Dollar Strengthens Ahead of Fed Decision as Global Currency Markets Face Policy Uncertainty
Forex Markets

Dollar Strengthens Ahead of Fed Decision as Global Currency Markets Face Policy Uncertainty

By SkyPress Desk | SkyPress News The US dollar remained near a two-week high on Wednesday as foreign exchange markets adopted a cautious stance ahead of a key Federal Reserve policy announcement. Meanwhile, the euro and British pound faced pressure from European fiscal concerns, while political uncertainty in Israel and diverging monetary policy signals across Asia added to currency market volatility. The coming policy decisions from the Federal Reserve, European Central Bank (ECB) and Bank of Japan (BoJ) are expected to shape investor expectations about interest rates, inflation and the relative attractiveness of major currencies. Energy-related inflation risks and continuing geopolitical tensions in the Middle East are further complicating the outlook, leaving traders to weigh the possibility of tighter monetary policy against concerns about economic growth and financial stability. US Dollar Holds Firm as Traders Await Federal Reserve Guidance The US dollar index, which measures the greenback against a basket of six major currencies, traded around 102.40 after gaining 0.3%…

SkyPress Desk | SkyPress News Oct 28
Dollar Rally Stretches as ING Warns of No Clear Reversal Trigger
Forex Markets

Dollar Rally Stretches as ING Warns of No Clear Reversal Trigger

The US dollar remains firmly supported by interest-rate expectations, geopolitical uncertainty and pressure across global bond markets, even as several indicators suggest its recent rally may be becoming overstretched. Analysts at Dutch banking group ING believe the dollar could remain resilient in the near term because the market has yet to produce a convincing catalyst for a sustained reversal. Their assessment, reported by FXStreet on October 13, highlights the difference between a currency that appears overvalued and one that is ready to reverse direction. The outlook leaves foreign exchange markets weighing two competing forces: signs that the dollar’s advance has gone too far and economic conditions that continue to support demand for the US currency. Dollar Valuation Signals Point to an Extended Rally According to ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner, the US dollar is trading above the levels indicated by their short-term valuation model against most major currencies in the Group of Ten (G10). Their assessment…

SkyPress Desk | SkyPress News Oct 13

FOREX MARKET

Uber Retreats From African Markets as Ride-Hailing Competition Intensifies
Business News

Uber Retreats From African Markets as Ride-Hailing Competition Intensifies

Uber’s withdrawal from Nigeria and Uganda is highlighting the economic challenges facing ride-hailing companies across Africa, where intense competition, price-sensitive customers and pressure on driver earnings are reshaping the mobility industry. The US-based transport technology company ended its operations in both countries on September 2, 2026, following earlier withdrawals from Tanzania and Côte d’Ivoire, according to media reports. The developments raise questions about how international technology businesses can build sustainable operations in African markets where demand for convenient transport is growing but consumers remain sensitive to costs. The situation also highlights a wider challenge for companies operating across emerging economies: expanding into a growing market does not automatically translate into sustainable profits. Key Takeaways Uber’s reported departures from Nigeria and Uganda follow earlier exits from Tanzania and Côte d’Ivoire. Competition from Bolt, inDrive and Yango is putting pressure on fares and customer retention. Drivers may face income uncertainty when platforms discontinue their services. Nigeria’s mobility industry is also experiencing changes…

SkyPress Desk | SkyPress News Oct 11
Gold Prices Edge Higher as US Inflation Data Puts Fed Rate Outlook in Focus
Commodities

Gold Prices Edge Higher as US Inflation Data Puts Fed Rate Outlook in Focus

COMMODITIES • GOLD MARKET NEWS Gold prices recovered modestly on Wednesday, September 30, as investors awaited fresh US inflation figures that could influence Federal Reserve interest-rate expectations. Despite the intraday gains, bullion remained on course for a monthly decline amid persistent inflation concerns, elevated energy prices and uncertainty over the direction of US monetary policy. Gold Edges Higher Ahead of US PCE Inflation Report Gold prices moved higher in Wednesday’s trading session as financial markets prepared for the release of the US Personal Consumption Expenditures (PCE) price index, a key inflation indicator monitored by Federal Reserve policymakers. According to market figures reported earlier in the session, spot gold rose approximately 0.1% to $4,187.64 per ounce, while US gold futures advanced 1.0% to $4,219.30. Spot gold had lost roughly 6% over the preceding month, leaving the metal vulnerable to a further monthly decline. Reuters also reported a modest recovery in spot gold during Wednesday’s session, with prices rising to $4,195.56 per…

SkyPress Desk | SkyPress News Sep 30
RBA Raises Cash Rate to 4.60% as Inflation Risks Intensify
Forex Markets

RBA Raises Cash Rate to 4.60% as Inflation Risks Intensify

September 29, 2026 | By SkyPress Desk | SkyPress News The Reserve Bank of Australia (RBA) has raised its cash rate target by 25 basis points to 4.60%, taking Australian interest rates to their highest level since October 2011 as policymakers respond to persistent inflationary pressures. The decision marks the fourth rate increase of 2026 and signals that the central bank remains concerned that inflation could stay elevated for longer than previously expected. The latest move comes against a backdrop of higher global energy prices, strong demand linked to artificial intelligence investment and continued capacity pressures within the Australian economy. The RBA has indicated that it remains prepared to tighten monetary policy further if inflation risks continue to build. RBA Lifts Cash Rate to 4.60% The RBA increased its cash rate target from 4.35% to 4.60%, delivering a 25-basis-point increase. The decision was unanimous, with the central bank’s rate-setting board agreeing that inflationary risks had become more persistent. The move…

SkyPress Desk | SkyPress News Sep 29
U.S. Treasury Yields Surge to Multi-Year Highs as Markets Reprice Inflation and Rate Risks
Stocks & Stock Markets

U.S. Treasury Yields Surge to Multi-Year Highs as Markets Reprice Inflation and Rate Risks

BUSINESS NEWS By SkyPress Desk | SkyPress News   •   September 25, 2026 U.S. Treasury yields climbed sharply on Friday as investors continued to demand higher compensation for inflation, government borrowing and longer-term interest-rate risk. The move pushed benchmark Treasury yields to their highest levels in years and kept pressure on global financial markets as traders reassessed the outlook for monetary policy and economic growth. The U.S. 10-year Treasury yield traded near 5.18% after reaching an intraday high around 5.23%, according to market data cited by Investing.com. The 30-year yield also moved above 5.50% during the session before easing back toward 5.47%. The surge extends a broader sell-off in government bonds that has gathered momentum in recent weeks. Reuters reported on Friday that global stocks were still holding up despite the bond-market pressure, helped by renewed enthusiasm around artificial intelligence companies and hopes for improving energy conditions in the Middle East. Track markets on TradingView Treasury yields climb as…

SkyPress Desk | SkyPress News Sep 25
Bitcoin Price Holds Near $84,000 as BTC Enters Key Consolidation Zone
Cryptocurrency

Bitcoin Price Holds Near $84,000 as BTC Enters Key Consolidation Zone

SKYPRESS NEWS • CRYPTO MARKETS Bitcoin is consolidating around the $84,000 area after a sharp September recovery pushed BTC above $87,000. The latest market structure leaves traders watching whether buyers can regain the upper end of the recent range or whether a break below short-term support could trigger a deeper correction. Market snapshot: Bitcoin closed around $84,076 on September 25 after trading as high as approximately $85,245 during the session. The broader September recovery took BTC above $87,000, leaving the $83,000 area as an important short-term support zone and $87,000–$87,400 as a major resistance region. Bitcoin Price Enters a New Consolidation Phase Bitcoin has entered a consolidation phase after a powerful recovery during September pushed the cryptocurrency from the mid-$70,000 area toward the upper-$80,000 region. Historical market data shows that Bitcoin traded around $76,000 in the middle of September before accelerating higher. BTC subsequently reached an intraday high above $87,000 on September 21 before pulling back and spending the following…

SkyPress Desk | SkyPress News Sep 25
U.S. Dollar Extends Weekly Rally as Yen, Aussie and Asian Currencies Face Pressure
Forex Markets

U.S. Dollar Extends Weekly Rally as Yen, Aussie and Asian Currencies Face Pressure

The U.S. dollar is extending its latest advance, with higher Treasury yields, resilient U.S. economic data and expectations for further Federal Reserve tightening putting renewed pressure on currencies across Asia. The Japanese yen is drawing particular attention as the USD/JPY exchange rate approaches the closely watched 160 level. The pair traded around 158.46 early Friday after reaching about 159.04 during the previous session, bringing the currency pair back toward a level that has historically attracted intense market scrutiny. The dollar’s strength is not being driven by a single development. Rising U.S. bond yields, expectations for additional Fed rate increases, firm labor-market data and renewed energy-price concerns are combining to support the greenback. Market data shown in the ticker may update independently of this article. U.S. Treasury Yields Give the Dollar Fresh Support A major driver of the dollar’s latest move has been the renewed rise in U.S. Treasury yields. Longer-term Treasury yields have moved sharply higher as investors reassess the…

SkyPress Desk | SkyPress News Sep 25
Markets Brace for October Fed Rate Hike as Barr Signals More Tightening
Forex Markets

Markets Brace for October Fed Rate Hike as Barr Signals More Tightening

SKYPRESS NEWS Stronger U.S. business activity and renewed inflation pressures have pushed expectations for another Federal Reserve rate increase higher. Track markets on TradingView U.S. financial markets are increasingly pricing in the possibility of another Federal Reserve interest rate increase in October, after Federal Reserve Governor Michael Barr indicated that additional policy tightening could be necessary to bring inflation back toward the central bank’s 2% objective. The shift in expectations came alongside stronger-than-expected September business activity data. Preliminary figures from S&P Global showed the U.S. private sector expanding at its fastest pace in more than five years, while measures of business input costs also accelerated. The combination of resilient economic activity and renewed price pressures has added another layer of uncertainty to the Federal Reserve’s interest-rate path following its September policy decision. Markets Increase Bets on an October Rate Increase Interest-rate futures markets moved sharply on Wednesday as traders reassessed the likelihood of another Fed increase at the Federal Open…

SkyPress Desk | SkyPress News Sep 23
U.S. Stocks Slide as Treasury Yields Surge on Renewed Fed Rate Hike Concerns
Stocks & Stock Markets

U.S. Stocks Slide as Treasury Yields Surge on Renewed Fed Rate Hike Concerns

U.S. stocks moved lower on Wednesday, September 23, as a sharp rise in Treasury yields renewed concerns that the Federal Reserve could keep interest rates higher for longer in response to persistent inflation. The retreat came after stronger-than-expected U.S. business activity data added to expectations that inflationary pressures may remain difficult to contain. At the same time, comments from Federal Reserve Governor Michael Barr reinforced the possibility of additional monetary policy tightening. The S&P 500 was down about 0.3%, while the Nasdaq Composite declined roughly 0.5%. The Dow Jones Industrial Average was also lower, falling around 159 points, or 0.3%, during Wednesday trading. The weakness followed a record-setting session for the Nasdaq on Tuesday, highlighting how quickly sentiment shifted as investors reassessed the outlook for interest rates and bond yields. Market data by TradingView Rising Treasury Yields Pressure U.S. Equities The biggest source of pressure for stocks was the sharp increase in U.S. Treasury yields. The benchmark 10-year Treasury yield…

SkyPress Desk | SkyPress News Sep 23
Crude Oil Inventories Jump Unexpectedly as Market Watches Supply-Demand Balance
Commodities

Crude Oil Inventories Jump Unexpectedly as Market Watches Supply-Demand Balance

U.S. crude oil inventories increased sharply in the latest weekly report, reversing the previous week’s decline and catching market expectations off guard. The unexpected inventory build adds a new layer of uncertainty for oil markets, particularly as traders continue to assess supply disruptions, refinery activity and geopolitical risks affecting global energy flows. According to the latest data, U.S. crude inventories increased by 2.969 million barrels. The result was significantly different from the market expectation of a 0.700 million-barrel decline, representing a substantial deviation from forecasts. The previous report had shown a 640,000-barrel decline in crude inventories. The shift from a weekly draw to a sizeable build therefore marks a notable change in the U.S. petroleum balance and could become an important factor for oil traders in the near term. Key Takeaways U.S. crude inventories increased by 2.969 million barrels. Markets had expected inventories to decline by about 700,000 barrels. The previous report recorded a 640,000-barrel draw. The unexpected build may…

SkyPress Desk | SkyPress News Sep 23
Dollar Strengthens as Fed Rate-Hike Bets Rise, While Euro and Aussie Slide
Forex Markets

Dollar Strengthens as Fed Rate-Hike Bets Rise, While Euro and Aussie Slide

The U.S. dollar strengthened on Wednesday, reaching its highest level in roughly two months as financial markets increased expectations that the Federal Reserve could deliver another interest-rate increase as it continues to respond to persistent inflation pressures. The renewed dollar strength is developing alongside weakness in several major currencies, including the euro, Japanese yen and Australian dollar. At the same time, traders are closely watching geopolitical developments, falling oil prices and the high-profile meeting between U.S. President Donald Trump and Chinese President Xi Jinping. Dollar Gains as Markets Reassess the Fed’s Interest-Rate Path The Dollar Spot Index rose around 0.2% during Wednesday’s trading session, extending the greenback’s recent advance. One of the main drivers has been a shift in expectations surrounding U.S. monetary policy. Financial markets are increasingly pricing the possibility of another Federal Reserve rate increase as policymakers attempt to contain inflation that has remained more persistent than previously expected. Short-term interest-rate markets were assigning roughly a 55% probability…

SkyPress Desk | SkyPress News Sep 23
Wall Street Futures Pause After AI Rally as Oil, Iran and Trump-Xi Talks Drive Market Focus
Stocks & Stock Markets

Wall Street Futures Pause After AI Rally as Oil, Iran and Trump-Xi Talks Drive Market Focus

U.S. Markets Take a Breather as AI Optimism Meets Middle East and China Risks By SkyPress Desk | SkyPress News September 22, 2026 Market Update: U.S. stock futures were largely subdued on Tuesday after Wall Street posted a strong technology-led rally in the previous session. Investors are now balancing renewed enthusiasm for artificial intelligence against oil-market risks, Middle East developments and the upcoming Trump-Xi meeting. U.S. stock futures were little changed on Tuesday as investors paused following a powerful rally on Wall Street, with artificial intelligence once again driving enthusiasm across technology and semiconductor stocks. The market’s attention, however, is no longer concentrated solely on technology. Oil prices, developments involving Iran and the Strait of Hormuz, and the expected meeting between U.S. President Donald Trump and Chinese President Xi Jinping are creating several competing forces for global markets to digest. The previous session saw the Nasdaq Composite reach a record closing level, while semiconductor stocks posted particularly strong gains. The…

SkyPress Desk | SkyPress News Sep 22
US-China AI Rivalry Fails to Stop Cross-Border Capital Flows as Investors Bet on Both Sides
Business News

US-China AI Rivalry Fails to Stop Cross-Border Capital Flows as Investors Bet on Both Sides

US-China AI Divide Deepens, but Global Investors Keep Capital Flowing Across the Technology Frontier September 22, 2026 — SkyPress News The United States and China are increasingly competing to build independent artificial intelligence ecosystems, yet the global financial system remains deeply connected across the two markets. American investment banks continue to participate in major Chinese technology and semiconductor fundraising transactions, while Chinese and Hong Kong investors maintain significant exposure to U.S. technology companies. The financial relationship is becoming particularly important as U.S. President Donald Trump and Chinese President Xi Jinping prepare for talks in Washington this week, with artificial intelligence, trade and investment among the issues surrounding the broader relationship. Recent discussions between senior U.S. and Chinese officials have also included a proposed framework for communication over AI-related risks. U.S. Treasury Secretary Scott Bessent said the two sides had discussed establishing an AI dialogue and a notification mechanism for common goals and national-security threats. US and China Are Building Separate…

SkyPress Desk | SkyPress News Sep 22
Gold Prices Fall as Stronger Dollar and Fed Rate Outlook Pressure Bullion
Commodities

Gold Prices Fall as Stronger Dollar and Fed Rate Outlook Pressure Bullion

By SkyPress Desk | SkyPress News September 22, 2026 Gold prices moved lower on Tuesday as a stronger U.S. dollar and expectations for relatively restrictive Federal Reserve policy put pressure on bullion, while falling oil prices, central-bank purchases and continued investment demand provided important support to the broader market. Spot gold was trading around $4,319 an ounce during early Tuesday trading, while U.S. gold futures were around $4,356 an ounce. Silver and platinum also moved lower as investors reassessed the outlook for U.S. interest rates following last week’s Federal Reserve decision. The latest move highlights the competing forces currently shaping the gold market. Higher interest-rate expectations and a stronger dollar can create short-term pressure on bullion, while geopolitical uncertainty, central-bank accumulation and investment demand continue to underpin the longer-term market. Stronger Dollar Adds Pressure to Gold One of the immediate factors weighing on gold is the performance of the U.S. dollar. The dollar strengthened after gaining more than 1% last…

SkyPress Desk | SkyPress News Sep 22
Oil Prices Rebound as Markets Watch Possible U.S.-Iran Talks at UN
Commodities

Oil Prices Rebound as Markets Watch Possible U.S.-Iran Talks at UN

September 22, 2026 — SkyPress News Oil prices moved higher in Asian trading on Tuesday, breaking a four-session losing streak as traders turned their attention toward possible diplomatic contacts between the United States and Iran during the United Nations General Assembly in New York. The rebound came after a sharp decline in crude prices on Monday, when expectations of increased Saudi oil shipments and the possibility of renewed diplomatic engagement between Washington and Tehran reduced part of the geopolitical premium that had lifted oil prices in recent weeks. Brent crude futures for November rose about 1.7% to $102.06 a barrel, while the October West Texas Intermediate (WTI) contract gained around 1.7% to $97.40. The more actively traded November WTI contract also moved higher, reaching about $93.65 a barrel. Diplomacy Becomes a Major Oil-Market Focus The latest move in crude prices reflects the market’s sensitivity to developments surrounding the conflict involving Iran and the wider Middle East. U.S. President Donald Trump…

SkyPress Desk | SkyPress News Sep 22
RBA Warns Inflation Risks Are Building as Energy Prices and Domestic Demand Stay High
Forex Markets

RBA Warns Inflation Risks Are Building as Energy Prices and Domestic Demand Stay High

SYDNEY, September 22, 2026 — Reserve Bank of Australia Governor Michele Bullock has warned that inflation risks in Australia may be becoming more persistent, pointing to elevated energy prices and continued strength in domestic demand ahead of the central bank’s September monetary policy meeting. Speaking at a Committee for Economic Development of Australia (CEDA) event in Sydney on Tuesday, Bullock highlighted the continuing effects of the Middle East conflict on energy markets while also stressing that domestic demand remains stronger than the economy’s ability to supply goods and services. Her comments come one week before the RBA is scheduled to announce its next interest-rate decision on September 29, placing renewed attention on whether the central bank will tighten monetary policy again. Energy Prices Add to Australia’s Inflation Challenge The RBA governor identified the prolonged Middle East conflict and its impact on energy prices as an important source of inflation risk. Higher energy costs can affect the Australian economy through several…

SkyPress Desk | SkyPress News Sep 22

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